A statutory audit is a legally required independent examination of a company's financial statements, conducted to provide shareholders, regulators and relevant authorities with assurance that the accounts present a true and fair view of the business's financial position. In the UAE, statutory audit requirements are embedded across multiple regulatory frameworks, from the UAE Commercial Companies Law to individual free zone authority regulations and sector-specific licensing conditions.
CashLaw Global's statutory audit practice is structured to deliver the depth of scrutiny the law requires and the quality of opinion your stakeholders expect. Our senior-led teams apply ISA methodology with rigorous documentation standards, ensuring that every audit opinion we issue is defensible, accurate and accepted by UAE authorities. We manage the full audit cycle, from pre-engagement planning and risk assessment through fieldwork, management representation and final sign-off, with a single senior professional accountable for your engagement throughout.
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Book Free ConsultationAccording to UAE Federal Decree-Law No. (32) of 2021 on Commercial Companies, all LLCs must appoint one or more auditors to conduct an annual audit of their accounts. This remains a strict statutory obligation, regardless of whether a regulatory authority actively requests the report during the year.
Delayed filings can result in administrative fines from licensing authorities (such as the DED or specific Free Zone Registrars), suspension of commercial license modifications, difficulties in corporate bank account maintenance, and potential red flags during FTA tax inspections.
All statutory audits in the UAE must be prepared in accordance with International Financial Reporting Standards (IFRS) and conducted by an auditor registered with the UAE Ministry of Economy.