A statutory audit in the UAE is a mandatory financial review required for specific businesses to confirm that their financial statements are accurate, transparent, and in line with legal and regulatory standards. Conducted annually, statutory audits help ensure compliance with UAE commercial laws, accounting frameworks, and international reporting practices, while also boosting confidence among stakeholders.

At KVGC, our team of professional auditors and compliance experts deliver reliable statutory audit services in Dubai and across the UAE. We focus on more than just compliance—our audits provide valuable insights that strengthen financial reporting, enhance internal controls, and support better decision-making for your business.

Types of Audits in UAE

• Regulatory Audit: Ensures adherence to laws, sector-specific regulations, and government requirements.
• Statutory Audit: A compulsory audit that validates financial statements for legal and regulatory compliance.
• Performance Audit: Evaluates efficiency, effectiveness, and the optimal use of resources within a business.

Who Needs a Statutory Audit in the UAE?

Statutory audits are compulsory for the following entities:

• Public Joint Stock Companies (PJSCs) and Limited Liability Companies (LLCs)
• Banks, insurance firms, and financial service providers
• Free zone businesses (as per respective authority regulations)
• Companies crossing the turnover limit set by UAE authorities

Even if not legally required, businesses often choose to conduct statutory audits voluntarily to improve financial credibility, investor trust, and operational efficiency.

Key Documents Required for Statutory Audit

• Annual audited financial statements (P&L, Balance Sheet, Cash Flow)
• General ledger and supporting records (contracts, invoices, receipts, bank statements)
• Payroll and employee records
• Inventory and stock records (if applicable)
• Corporate documents (MoA, AoA, shareholder details, minutes of meetings)
• VAT filings and tax compliance records
• Loan, lease, and debt agreements
• Fixed assets register
• Past internal audit or compliance reports (if any)

Steps in the Statutory Audit Process

1. Audit Planning: Assess scope, risks, and create an audit plan.
2. Data Examination: Review accounting records, internal controls, and processes.
3. Verification: Validate compliance with laws, standards, and reporting accuracy.
4. Audit Report: Draft the auditor’s opinion and highlight findings.
5. Submission: File the audit report with the concerned authorities.

Benefits of a Statutory Audit

• Strengthened trust with investors, lenders, and regulators
• Greater financial discipline and transparency
• Regulatory compliance with UAE laws and IFRS standards
• Fraud detection and improved governance systems
• Enhanced internal controls and reduced risks
• Easier access to financing and business growth opportunities

KVGC Statutory Audit Services

KVGC provides complete statutory audit solutions aligned with the UAE Commercial Companies Law, individual free zone guidelines, and International Financial Reporting Standards (IFRS). From preparing financial records to submitting audit reports, we ensure your business remains compliant, transparent, and trusted by all stakeholders.

Contact KVGC today for expert statutory audit services in Dubai and across the UAE, and ensure your company meets all legal and financial obligations with confidence.