A statutory audit is a legally required independent examination of a company's financial statements by a registered external auditor. The auditor provides an independent opinion on whether the statements give a true and fair view of the company's financial position under IFRS.
All UAE PJSCs and most free zone companies must submit audited accounts annually. Many mainland LLCs also require a statutory auditor under UAE Commercial Companies Law. Under Corporate Tax rules, free zone QFZPs must prepare audited financial statements to maintain qualifying income status.
Maintain clean, up-to-date bookkeeping records throughout the year. Auditors will request: general ledger trial balances, bank statements and reconciliations, sales and purchase invoices, payroll records, and board minutes. Read: Audit Requirements for UAE Companies.
Finanshels maintains auditor-ready books for every client throughout the year, so audit preparation is not a last-minute scramble. Our bookkeeping services make your statutory audit as efficient and cost-effective as possible.
