Statutory Audit Services UAE | Mandatory Audit Reports for UAE Companies
NUF Chartered Accountants performs statutory audits for UAE companies that require audited financial statements for licensing, free zone compliance, shareholder reporting, banking, regulatory filings or renewal purposes. Our auditors examine financial records and issue statutory audit reports in accordance with International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and applicable UAE laws and regulations.
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Our Statutory Audit Services
Mandatory Statutory Audit
Statutory audits for companies required to submit audited financial statements under UAE, free zone or licensing obligations.
Audited Financial Statements
Audit of annual financial statements prepared in accordance with IAS, IFRS and applicable reporting requirements.
License Renewal Audit Reports
Audit reports prepared for businesses that need audited accounts for license renewal or authority submission.
Statutory Compliance Review
Review of audit-related compliance matters required by company law, free zone rules or regulatory authorities.
Shareholder & Board Reporting
Independent audit reporting that supports shareholder, board, lender and investor requirements.
Audit Evidence & Testing
Risk-based statutory audit procedures covering records, transactions, balances and supporting evidence.
Statutory Audit Service Packages
Basic Statutory Audit
Tailored Pricing
Suitable for startups and small businesses needing essential statutory audit support.
- Statutory audit engagement
- Annual financial statement audit
- Basic IAS & IFRS compliance checks
- Review of key statutory audit documents
- Independent statutory audit report
Standard Statutory Audit
Tailored Pricing
Suitable for SMEs and growing businesses needing broader statutory audit coverage.
- Complete statutory audit engagement
- IAS & IFRS financial statement audit
- Authority submission requirement review
- Management discussion on audit matters
- Signed statutory auditor report
Complex Statutory Audit
Tailored Pricing
Suitable for larger companies, groups and complex entities needing tailored statutory audit support.
- Partner-led statutory audit engagement
- Complex statutory reporting review
- Group or multi-entity audit procedures
- Regulatory or shareholder reporting focus
- Independent audit opinion and statutory report
ⓘ Statutory audit fees depend on company jurisdiction, licensing authority, reporting deadline, transaction volume, accounting record quality, audit evidence availability and statutory reporting scope.
Statutory Audit Requirements
Documents Commonly Required
Audited Financial Statements
General Ledger
Trial Balance
Bank Reconciliations
Accounts Receivable Aging
Accounts Payable Aging
Fixed Asset Register
VAT Returns (if Applicable)
Supporting Schedules
Company License & Documents
Audit Deadlines & Compliance
Annual Financial Statements
Statutory audit may be required for annual financial statements under licensing, free zone, shareholder or authority rules.
Regulatory Compliance
Meet statutory audit obligations linked to company law, license renewal and relevant UAE authority requirements.
Timely Submission
Complete statutory audit reports before renewal, filing or shareholder reporting deadlines where applicable.
Avoid Penalties
Late or missing statutory audit reports may cause renewal delays, authority queries, penalties or compliance restrictions.
Common Challenges Faced by Companies
Late Audit Requirement Identification
Companies often realize statutory audit is required close to license renewal or reporting deadlines.
Incomplete Closing Records
Open balances, missing schedules and unfinalized accounts can delay statutory audit completion.
Missing Audit Evidence
Unavailable invoices, contracts, bank confirmations or supporting documents may require additional audit procedures.
IAS & IFRS Reporting Gaps
Financial statements that do not follow IAS or IFRS requirements may require audit adjustments and management review.
Authority Deadline Pressure
License renewal, banking, shareholder or regulator deadlines may create pressure if the audit starts late.
Our Statutory Audit Process
Requirement Review
We identify the statutory audit requirement based on your jurisdiction, license conditions and reporting deadline.
Engagement & Audit Planning
We define the audit scope, materiality, reporting framework and statutory audit timetable.
Records & Evidence Testing
We examine accounting records, balances, transactions and supporting evidence required for statutory reporting.
IAS, IFRS & UAE Law Review
We assess financial statement presentation against IAS, IFRS and applicable UAE legal or regulatory requirements.
Statutory Audit Report
We issue the statutory auditor report after completing audit procedures and management review matters.
Frequently Asked Questions About Statutory Audit Services
Statutory audit is an audit required by law, licensing conditions, free zone rules, shareholders, lenders or regulatory authorities to verify annual financial statements and issue an independent audit report.
Statutory audit requirements vary by company structure, licensing authority, free zone rules, shareholder requirements and applicable UAE laws.
External audit is a broader term for independent audit services. Statutory audit specifically refers to audits required by law, regulation, license conditions, shareholder obligations or authority filing requirements.
Common documents include financial statements, general ledger, trial balance, bank reconciliations, invoices, contracts, VAT records, supporting schedules and company license documents.
A statutory audit should be completed before the relevant authority submission, license renewal, shareholder reporting or regulatory filing deadline.
Many UAE free zones require audited financial statements for license renewal, compliance reporting or shareholder records. Requirements vary by free zone authority.
Statutory audits are performed in accordance with International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and applicable UAE laws and regulations.
Missing statutory audit obligations may result in authority queries, license renewal delays, penalties, banking issues or other regulatory consequences depending on the jurisdiction.
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NUF Chartered Accountants performs statutory audits for UAE mainland and free zone companies that require audited financial statements for compliance, renewal, shareholder or regulatory purposes.
- Mandatory Audit Reports
- IAS & IFRS Statutory Review
- Authority Filing Focus
- Confidential Audit Engagements
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