Statutory audit in the UAE

A statutory audit is an independent examination of an entity's financial statements that results in an auditor's opinion on whether those statements give a true and fair view or present fairly the state of affairs of the entity.

Under the UAE Commercial Companies Law, a company must appoint an auditor registered with the Ministry of Economy, prepare its financial statements under IFRS, and retain accounting records for at least five years. The audit performed under International Standards on Auditing (ISA), which govern how risk is assessed, how evidence is gathered and how the final opinion is worded.

Requirement to get the financial statements audited in UAE

All UAE mainland companies must have their financial statements audited annually, and most free zone authorities require audited statements before renewing a trade licence.

Since Ministerial Decision No. 84 of 2025, the audit requirement is also a tax requirement. Audited financial statements are now expected from taxable persons whose revenue exceeds AED 50 million, from every Qualifying Free Zone Person regardless of revenue, and — as special-purpose audited aggregated statements — from Tax Groups.

Signing of an audit report - approved auditors UAE

Only an auditor registered with the UAE Ministry of Economy, and listed on the panel of the authority the report is addressed to, can sign an audit report.

Our audit teams work with trading, contracting, healthcare, logistics, manufacturing, aviation and professional services groups across the UAE. Tell us your financial year end and the authority the report is addressed to, and we will confirm scope, timetable and a fixed fee.

External audit and reporting work

  • Financial statement audit — full-scope opinion under IFRS
  • Group audit and consolidation reporting for multi-entity structures
  • Special-purpose reports for banks, lenders, grant bodies and registrars
  • Agreed-upon procedures under ISRS 4400 — factual findings, no opinion
  • Limited review of interim financial information under ISRE 2410
  • Financial due diligence and quality of earnings analysis

IFRS technical advisory support

  • IFRS impact assessment and gap analysis on new standards
  • IFRS Training & Technical Support
  • First Time Adoption of IFRS