History

The Promoter commenced providing business consultancy in India in 1996, after completing his MBA in Finance. His main areas of practice were project feasibility studies and setting up systems. He had a keen acumen in understanding both engineers and accountants and he was easily able to exchange and explain their concepts seamlessly, which helped carry out these tasks smoothly.

As a Chartered Accountant, in 2001, he joined B G Kale & Company, Chartered Accountants, as their Partner. He was handling feasibility studies and project executions, while they handled direct and indirect tax matters and audit services. Even today, B G Kale & Co continue to be the mentors of Prudential Accounting, our office in India. They are in practice for +30 years and are trend setters in their field of expertise.

Between 2002 and 2005 he was on deputation to an international project with Bahrain Bulk Trade WLL, Fujairah Branch as their CEO. This was a mining, transporting and shipping operation. The project was turned around from a loss making venture producing 20,000 tons per month with 135 people to one producing 50,000 tons per month with 65 people within the first 6 months. It went on to expand with an investment exceeding USD 80 million in investment and producing 16,000 tons per single shift with 250 people and a fleet of 75 quarry equipment, 75 trucks & 6 ships.

Prudential Auditing was originally established as the Fujairah Branch of Behl, Lad & Al Sayegh, Chartered Accountants. They are one of the top 10 audit firms in Dubai (recognized in Category B by bankers under the approved lists of audit firms in UAE). They are in practice for +40 years in the UAE, under the principal promoter Mr Vasant D Lad. Their sister concern, Waleed Al Sayegh, Chartered Accountants, is one of the oldest audit firms in Sharjah and is also listed as a Court Approved Auditor for many Emirates.

We commenced our Fujairah operations in 2006 and were able to pass the registration requirements in 2009. The name was changed from “Behl, Lad and Al Sayegh, Chartered Accountants LLC” to “Prudential Auditing, Chartered accountants LLC” in 2011, when Mr Surinder Behl resigned. The constitution changed from a Limited Liability Company to an Establishment in 2014, when Mr Vasant Lad and Mr Waleed Al Sayegh passed it on to Mr Dhawal G Nandedkar.

To cater to the growing need in the industry for Verification and Compliance Audits, our Dubai operations were started in 2012–13 under the name Verico Auditing, as a Partnership Firm. DMCC and DAFZA have recognized Verico in their approved list of auditors in Dubai. A special division was formed to cater to clients with low volume, for statutory audits. Verico’s reports are accepted by all regulators and banks.

Since 2007, the Promoter is recognised as an Internal Controller of a Brokerage Firm by the Securities and Commodities Authority of UAE (SCA). This is an exclusive engagement where the auditor cannot take up more than one engagement. In 2013, Verico was recognised as an approved reviewer for conducting the audits on DMCC members based on the DMCC guidance and review protocol on responsible sourcing of precious metals. Since the service is not very popular, the entry was not renewed by the Promoter. He is now engaged in a venture to continue to expand the services provided by forming a network of service providers across different geographical regions.