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Tiny & Small Clients

Super Economy / No Frills

WHERE is this available?

In all Emirates in UAE - except specific authorities and entities who insist on audit reports from auditors listed with them

In all free zones in UAE - except Hamriyah Free Zone, SAIF Zone and such free zones where we are yet to be listed

What is this CONCEPT of No Frills Service?

Tiny and small businesses operate on a skeletal infrastructure. They have the minimum office space, minimum staff, minimum support from third parties - it’s like they operate as one-man-armies like the characters we see in movies like Commando and Rambo. We have our deepest admiration to the way they function and decided to extend our hand to them they way they would like it. There are exceptions, but we have considered the vast majority of them who operate this way.

We have designed this service in the manner of a “no-frills airline ticket” where only the basic, essential and statutory service is provided and all other benefits are charged extra.

WHO are TINY and SMALL clients?


Primary test
Parameter Test for Tiny Test for Small
Constitution Single shareholder Two Shareholders or Branch or Wholly Owned Subsidiary
Number of people Alone with at the most one assistant like secretary or sales manager or driver Three to seven people handling similar functions or support function
Office space Usually a flexi-desk or at the most a small office Small office or a larger space to suit the style of the business but not occupied
Activity Professional service, trading of single class of products, commission agent, etc Professional service; trading in few products; small business like a saloon or laundry, language training centre, tailoring shop, ready-made garments store; etc
Fixed assets At the most a table or two, few chairs, a computer with peripheral devices and at the most a car Office furniture, office equipment, administrative vehicles or in exceptional cases a small machinery set
Inventory None or in transit In transit or with a third party and sold before audit
Receivables Few Few
Bank accounts One, maybe multi-currency One or two, not many
Borrowings from bank None Trade finance, if at all

Secondary test

Exceptions

What is the BENEFIT to TINY and SMALL Businesses?

WHAT CONDITIONS are required to be satisfied for availing this discount?


Conditions for availing 50% discount:

Conditions for availing 66% discount:

It’s all about the volume of work that the auditor is expected to perform while carrying out his duties as an independent evaluator of the financial statements.

So, if the client has an exceptionally low activity, typically it is:


Conditions for availing 80% discount:

This service is almost free - we take a slight ‘commitment fee’ of up to 20% just as a formality.

We hope our clients do not come into a situation where they need someone’s support to this extent, however, the following may seek our benevolent gesture:


Conditions when discount may be withdrawn:

Other conditions:

More Information

For any more information on this matter, please contact dhawalgn@prudentialauditing.com or +971-55-222 4657 .