External Audit Services in ADGM
KGRN Chartered Accountants delivers independent external audits for companies and LLPs registered in Abu Dhabi Global Market. We audit your annual accounts under IFRS, prepare the auditor's report, and support your filing with the ADGM Registration Authority through the Online Registry Solution — within nine months of your Accounting Reference Date, so late filing fines never become your problem.
Why ADGM Entities Struggle with Annual Accounts
ADGM operates a common-law framework closer to UK company law than to typical UAE free zone rules. That catches out finance teams used to mainland practice. These are the issues we see most often.
Missing the Nine-Month Deadline
Filing deadlines run from the Accounting Reference Date, not the calendar year. Late filing exposes the company to a fine.
Confusion Over the ARD
The ARD is set at incorporation and visible on the online registry — many entities calculate deadlines from the wrong date.
Accounts Not Denominated in USD
ADGM annual accounts must be presented in US Dollars. Books kept only in AED need conversion and restatement.
Accounts Returned for Revision
The Registration Authority may return filings that use the wrong account type or miss formal signing requirements.
Using a Non-Recognised Auditor
Statutory audits must be carried out by an ADGM Recognised Auditor. Appointing outside that register invalidates the filing.
Misapplying the Small Companies Regime
Financial services firms and public interest entities cannot use it, regardless of turnover or headcount.
Weak Internal Controls
Growing entities without documented approval hierarchies or segregation of duties face avoidable audit findings.
FSRA Prudential Reporting Gaps
Authorised firms carry additional regulatory reporting obligations on top of the annual accounts filing.
Corporate Tax and QFZP Positions
Qualifying Free Zone Person status depends on audited financial statements that stand up to scrutiny.
Group and Consolidation Complexity
Holding structures with offshore or overseas subsidiaries need consolidated accounts and intercompany eliminations.
Incomplete Accounting Records
Missing contracts, invoices and reconciliations delay fieldwork and increase the risk of a qualified opinion.
Audit Fee Disclosure Requirements
Accounts filings now capture audit fees, financial period detail and staffing data — records must support them.
Banking and Investor Pressure
Banks, LPs and prospective investors expect audited USD financial statements before releasing funds.
Extension Applications Filed Too Late
Extension requests must be submitted before the filing due date — after the deadline, the option is gone.
Approaching your ADGM accounts filing deadline?
Request an Audit Readiness AssessmentWhat Are the External Audit Requirements in ADGM?
Generally, every ADGM company and LLP must file annual accounts with the ADGM Registration Authority. Unless the entity qualifies for an exemption under the ADGM Companies Regulations 2020, those accounts must be audited by an ADGM Recognised Auditor. The standard filing package comprises the audited annual accounts, the auditor's report, the directors' report, and the board resolution approving the accounts.
The filing deadline is nine months from the Accounting Reference Date (ARD) for private companies and LLPs, and six months for public companies. Accounts must be denominated in US Dollars and filed through the ADGM Online Registry Solution. Late filing makes the company liable to a fine.
Who Must File Audited Accounts in ADGM?
ADGM's regime is closer to UK company law than to conventional UAE free zone practice, so the obligation depends on entity type, size and activity rather than a single blanket rule.
- Private companies and LLPs — file annual accounts within nine months of the ARD, audited unless a valid exemption applies.
- Public companies — the filing period is six months rather than nine.
- FSRA-authorised firms — must be audited regardless of size, and cannot use the small companies regime.
- Public interest entities — also excluded from simplified small-company filing.
- Restricted Scope Companies — not required to file annual accounts unless the Registrar gives notice to deliver them.
- Branches and Foundations — must maintain accounting records, but are not required to file them annually with the Registrar.
Even where an audit is not strictly required, many ADGM entities choose to be audited: banks, investors, group parents and UAE Corporate Tax positions such as Qualifying Free Zone Person status all benefit from independently audited IFRS financial statements.
ADGM Small Companies Regime
An entity that meets the small companies criteria may file a simplified set of accounts — an unaudited balance sheet — instead of a full audited package. The balance sheet must state that it has been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
| Criterion | Small Companies Regime | Full Audited Accounts |
|---|---|---|
| Turnover | Not more than USD 13.5 million | Above the small company threshold |
| Employees | Not more than 35 | More than 35 |
| Financial services firms | Not eligible | Audit required |
| Public interest entities | Not eligible | Audit required |
| What is filed | Unaudited balance sheet with regime statement | Audited accounts, auditor's report, directors' report, board resolution |
| Auditor required | No, if exemption validly applied | Yes — ADGM Recognised Auditor |
| Currency | US Dollars | US Dollars |
Eligibility thresholds and exemptions are set by ADGM and can change. Confirm your entity's position against the current ADGM Companies Regulations and Registration Authority guidance, or ask KGRN to assess it as part of a free consultation.
Does Your ADGM Entity Need an Audit?
The small companies regime is not available to you. Audited annual accounts are required regardless of turnover or headcount, alongside any additional FSRA prudential reporting obligations that apply to your permission category.
Test the small company thresholds: turnover not more than USD 13.5 million and not more than 35 employees. Exceed either one and full audited accounts are required. Meet both and you may file an unaudited balance sheet instead.
Scenario: Fund Manager Authorised by the FSRA
An ADGM-based asset manager assumed its small headcount let it file a simplified balance sheet. Because it is an FSRA-authorised firm, the exemption was unavailable. KGRN performed a full IFRS audit in USD, addressed client money and regulatory capital testing, and delivered the audited accounts, auditor's report and directors' report in time for the nine-month deadline.
Scenario: Holding Company with Overseas Subsidiaries
An ADGM holding company with trading subsidiaries in the GCC and Europe needed consolidated financial statements for a bank facility. KGRN audited the group under IFRS 10, handled intercompany eliminations and functional-currency translation into USD, and produced a consolidated audited set the lender accepted without further queries.
Unsure whether your ADGM entity qualifies for an audit exemption?
Speak to a Chartered AccountantADGM Annual Accounts Filing Deadlines Explained
Every ADGM company and LLP has an Accounting Reference Date set at incorporation and visible on the ADGM online registry system. Your deadline is calculated from that date — not from the calendar year end.
| Situation | Filing Deadline | What It Means in Practice |
|---|---|---|
| First accounts, first financial year of 12 months or less | Within nine months of the ARD | Standard case for most newly incorporated entities. |
| First accounts, first financial year longer than 12 months | Within nine months of the first anniversary of incorporation | Applies to long first periods — the clock runs from incorporation, not the ARD. |
| Second and subsequent accounts (private company or LLP) | Within nine months of the ARD | The recurring annual cycle once the entity is established. |
| Public companies | Within six months of the ARD | Three months less than private entities — plan fieldwork earlier. |
| Restricted Scope Companies | Not required to file unless the Registrar gives notice | Records must still be maintained and produced on request. |
| Branches and Foundations | No annual filing requirement with the Registrar | Accounting records must still be maintained. |
| Filing extension | Registrar may approve up to three additional months | Applications must be submitted before the due date; total filing period cannot exceed 12 months after the accounting period end. |
| Late filing | Company becomes liable to a fine | Delays also affect banking, investor reporting and corporate tax positions. |
Worked example. A company incorporated on 11 November 2019 with an ARD of 31 December 2020 has a long first financial year. Its first annual accounts are therefore due within nine months of the first anniversary of incorporation — by 11 August 2021. In the following year the ARD is 31 December 2021, so the next filing is due nine months later, on 30 September 2022.
Want your ADGM audit completed well before the deadline?
Schedule Your ADGM AuditADGM External Audit Services Included
Everything an ADGM entity needs to move from closed books to an accepted filing on the Online Registry Solution.
Statutory ADGM Audit
Full audit of annual accounts under the ADGM Companies Regulations and International Standards on Auditing.
IFRS Financial Statements
Preparation and audit of a complete IFRS set presented in US Dollars, as ADGM requires.
Auditor's Report
Independent auditor's report naming the audit firm and the senior auditor who signed it.
Directors' Report Support
Guidance on content and the signing requirements that apply to audited accounts.
Board Resolution Preparation
Directors' resolution approving the accounts, ready for submission with the filing pack.
Online Registry Filing Support
Assistance lodging annual accounts through the ADGM Online Registry Solution.
FSRA-Regulated Firm Audit
Audits for authorised firms including client money, regulatory capital and prudential considerations.
Group & Consolidated Audit
Consolidation under IFRS 10 including eliminations, NCI and currency translation into USD.
Holding & SPV Audit
Audits of ADGM holding companies, SPVs and investment vehicles used in group structures.
Fund & Asset Manager Audit
Audit support for fund structures, managers and related service providers in ADGM.
Risk Assessment
Identification of financial reporting and fraud risks that drive a focused audit approach.
Internal Control Review
Evaluation of control design and operating effectiveness across key business cycles.
Management Letter
Practical recommendations on controls, processes and compliance gaps identified during the audit.
Corporate Tax & QFZP Support
Audited financials aligned with UAE Corporate Tax requirements and Qualifying Free Zone Person analysis.
Agreed-Upon Procedures
Targeted factual-findings engagements on specific balances, transactions or processes.
Special Purpose Audit
Audits of specific statements, projects or components for lenders, investors or group reporting.
First-Year Audit for New Entities
Opening balance verification and first-period audits for recently incorporated ADGM companies.
Extension Application Guidance
Support preparing and timing a filing extension application before the due date passes.
Accounting & Bookkeeping
USD-denominated bookkeeping and year-end close so your accounts are audit-ready.
Post-Audit Advisory
Year-round access to CFO, tax, VAT and governance advisory as your ADGM entity grows.
Need an ADGM audit for the current financial year?
Request an Audit ProposalOur ADGM External Audit Process
A structured, risk-based methodology under International Standards on Auditing — mapped to the ADGM filing calendar so the audit finishes with time to spare.
Free Consultation
We confirm your ARD, entity type, exemption position and filing deadline at no cost.
Scoping & Engagement
Fixed-fee proposal, engagement letter and independence confirmation.
Business Understanding
We study your operations, ADGM permissions, systems and accounting environment.
Risk Assessment
Financial reporting and fraud risks identified to focus the audit where it matters.
Audit Planning
Materiality, sampling strategy, document request list and a deadline-anchored timetable.
Fieldwork & Testing
Substantive testing, confirmations, inventory and reconciliation procedures.
USD Reporting Review
Translation, presentation and IFRS disclosure review in US Dollars.
Reporting Pack
Auditor's report, directors' report and board resolution assembled and signed.
Registry Filing
Accounts lodged via the ADGM Online Registry Solution with acknowledgement tracked.
Ongoing Support
Management letter actions, corporate tax alignment and next-year audit readiness.
Start early and file with confidence.
Book a Free Audit ConsultationADGM Audit vs Mainland and Other Free Zone Audits
ADGM's common-law framework produces meaningfully different audit and reporting obligations. Understanding the differences prevents costly filing errors.
| Feature | ADGM Entities | Typical UAE Mainland / Other Free Zones |
|---|---|---|
| Legal framework | ADGM Companies Regulations, common-law based | UAE Commercial Companies Law and free zone rules |
| Reporting currency | US Dollars | Usually AED, sometimes other currencies |
| Deadline driver | Accounting Reference Date (ARD) | Financial year end or licence renewal date |
| Standard filing window | Nine months (private), six months (public) | Varies by authority, commonly three to six months |
| Auditor eligibility | Must be an ADGM Recognised Auditor | Licensed UAE auditor, some zones keep approved lists |
| Audit exemption | Small companies regime, subject to conditions | Rarely available in most zones |
| Filing channel | ADGM Online Registry Solution | Free zone portal or authority submission |
| Filing pack | Accounts, auditor's report, directors' report, board resolution | Commonly audited financial statements only |
| Extensions | Registrar may grant up to three months on application | Limited or discretionary |
| Branches | Maintain records; no annual filing with the Registrar | Often required to file audited accounts |
Operating in ADGM and elsewhere in the UAE?
Talk to a Multi-Jurisdiction Audit TeamKGRN vs Generic Audit Firms for ADGM Engagements
Any firm can produce a set of accounts. Delivering an ADGM filing that is accepted first time takes jurisdiction-specific knowledge.
| Capability | KGRN Chartered Accountants | Generic Audit Firms |
|---|---|---|
| ADGM regulatory knowledge | Companies Regulations, ARD rules and Registry filing mechanics | General UAE knowledge only |
| Experienced Chartered Accountants | Qualified accountants on every engagement | Often junior-led fieldwork |
| USD reporting | Functional currency analysis and USD presentation | AED-first, conversion added late |
| IFRS expertise | Specialists in IFRS 9, 10, 15 and 16 | Basic IFRS application |
| FSRA-regulated firm experience | Client money, capital and prudential considerations | Limited regulated-sector exposure |
| Filing pack completeness | All four documents prepared and signature-checked | Financial statements only |
| Deadline management | Timetable anchored to your ARD from day one | Reactive scheduling |
| Risk-based methodology | ISA-aligned and focused on material risk | Checklist-driven approach |
| Transparent pricing | Fixed-fee proposals, no scope creep | Add-on billing during the engagement |
| Dedicated engagement team | Named team that knows your structure | Rotating unfamiliar staff |
| Group and consolidation capability | Multi-entity, multi-currency consolidations | Single-entity focus |
| Actionable recommendations | Management letter with practical fixes | Report-only engagement |
| Technology-driven audit | Analytics across SAP, Oracle, Dynamics 365, Zoho, QuickBooks, Xero | Manual sampling only |
| Corporate tax alignment | Audited figures reconciled to UAE Corporate Tax positions | Tax handled separately or not at all |
| Post-audit advisory | CFO, tax, VAT and governance support in-house | Support ends at report issuance |
Compare our ADGM proposal against your current auditor.
Request an Audit ProposalADGM Sectors We Audit
ADGM's community spans financial services, holding structures and professional firms. Our audit programmes are built around the risks each sector actually carries.
Asset & Fund Management
Management and performance fee recognition, client money segregation and regulatory capital.
Investment Funds
Fund structures, NAV support, investor reporting and service-provider reconciliations.
Private Equity & Venture Capital
Portfolio valuation under IFRS 13, carried interest and fund-level consolidation questions.
Family Offices
Multi-entity structures, investment portfolios and governance around related-party dealings.
Holding Companies & SPVs
Investment carrying values, impairment testing and intercompany balance verification.
Banking & Financial Institutions
Expected credit loss under IFRS 9, capital adequacy inputs and prudential reporting.
FinTech
Revenue recognition on platform models, safeguarded funds and capitalised development costs.
Digital Assets & Virtual Assets
Custody arrangements, asset classification and disclosure of holdings and obligations.
Insurance & Reinsurance
Technical provisions, reinsurance recoverables and regulatory reporting alignment.
Corporate Service Providers
Client billing cycles, unbilled revenue and trust-style account controls.
Professional Services
Work in progress, engagement profitability and partner remuneration arrangements.
Legal & Advisory Firms
Time-cost systems, disbursement recovery and revenue cut-off testing.
Technology & Software
Subscription and licence revenue, deferred income and R&D cost treatment.
Trading & Commodities
Inventory and position valuation, cut-off testing and counterparty exposure.
Energy & Sustainability
Project accounting, joint arrangements and long-term contract recognition.
Real Estate Investment
Investment property valuation, lease income under IFRS 16 and financing covenants.
Logistics & Trade Finance
Receivables financing, agent settlements and revenue recognition on shipments.
Healthcare Investment
Group structures, licence-holding entities and management service arrangements.
Education & Training
Deferred tuition income, programme cost allocation and grant treatment.
Foundations & Trusts
Record-keeping obligations, beneficiary reporting and governance documentation.
Want an auditor who already understands ADGM and your sector?
Book a Free Audit ConsultationADGM External Audit Compliance Checklist
Prepare these items before fieldwork begins and your audit will move faster, generate fewer queries and reach the Registry ahead of the deadline. Print or save this checklist below.
ADGM External Audit — Frequently Asked Questions
Still have a question about your ADGM filing obligation?
Speak to a Chartered AccountantOfficial ADGM and International References
The requirements described on this page are based on published ADGM Registration Authority guidance and international standards. Regulations change — always verify the current position before relying on it.
ADGM Registration Authority
Annual accounts guidance, filing deadlines, small companies regime and the Online Registry Solution.
ADGM Companies Regulations 2020
The statutory basis for accounts, audit obligations and available exemptions.
ADGM Find an Auditor Register
The public register of ADGM Recognised Auditors permitted to sign statutory audits.
Financial Services Regulatory Authority (FSRA)
Prudential and reporting obligations for ADGM authorised firms.
IFRS Foundation
International Financial Reporting Standards applied to ADGM financial statements.
IAASB and IESBA
International Standards on Auditing and the ethics code governing auditor independence.
UAE Ministry of Finance
UAE Corporate Tax framework, including Free Zone and QFZP considerations.
Federal Tax Authority (FTA)
Corporate Tax and VAT registration, filing and record-keeping requirements.
UAE Ministry of Economy
Auditor licensing and the wider UAE accounting and audit profession framework.
Important. This page is general guidance, not legal or tax advice. ADGM thresholds, deadlines and exemptions are subject to change. Confirm your entity's specific obligations with the ADGM Registration Authority or ask KGRN to review your position.
File Your ADGM Annual Accounts with Confidence
Partner with KGRN Chartered Accountants for independent external audits that satisfy the ADGM Registration Authority, strengthen financial transparency, support your UAE Corporate Tax position, and give investors, lenders and regulators confidence in your numbers.