Statutory Audit & Assurance Services
Confidence in every number, compliance in every jurisdiction.
In the UAE's evolving regulatory landscape, shaped by the Commercial Companies Law, Corporate Tax Law, and free zone specific mandates, a statutory audit is no longer a compliance formality. It is a strategic assurance exercise that protects stakeholders, satisfies regulators, and builds credibility with banks, investors, and tax authorities.
Every engagement begins with an entity level risk assessment under ISA 315
Registered & approved across the UAE's leading regulators and free zones
General Purpose vs. Special Purpose Audit
A common point of confusion, and an important distinction we help clients navigate correctly.
General Purpose Financial Statements Audit
Conducted under ISA 700 (Revised), it expresses an opinion on whether the financial statements, taken as a whole, are prepared in accordance with an applicable financial reporting framework (IFRS or IFRS for SMEs) and present fairly the entity's financial position, performance, and cash flows. This is the audit required annually for:
- Free zone license renewal
- Bank facility and lender covenants
- Group consolidation reporting to overseas parent entities
Special Purpose Audit
Conducted under ISA 800 / ISA 805, a special purpose audit expresses an opinion on financial information prepared for a specific, narrower purpose, not the complete financial statements. Common examples we handle include:
- Corporate Tax compliance audits
- Verifying taxable income computations under Federal Decree Law No. 47 of 2022 and FTA guidance
- Adjustments for exempt income, qualifying free zone income & transfer pricing related disclosures
Statutory Audit Requirements Across UAE Jurisdictions
Audit obligations differ meaningfully depending on where your entity is licensed. We maintain current, jurisdiction specific knowledge across mainland and every major free zone.
Mainland (DED Licensed Entities)
Audited financial statements required annually under the UAE Commercial Companies Law (Federal Decree Law No. 32 of 2021) for LLCs and most company types, now reinforced by Corporate Tax filing obligations for entities exceeding the audit threshold.
DMCC
Mandatory annual audit by a DMCC approved auditor, with audited financials submitted within 180 days of financial year end as part of license renewal, in line with the DMCC Company Regulations 2024.
JAFZA
Annual audited financial statements required from an approved auditor, submitted as part of the annual license renewal process.
DAFZA
Mandatory statutory audit, with audited statements required at renewal and retained for regulatory inspection.
DIFC
Audited financial statements required annually under DIFC Companies Law, with DFSA regulated entities subject to additional prudential and disclosure based audit requirements.
ADGM
Annual audit mandatory under ADGM Companies Regulations, with FSRA regulated entities, including PCCs and fund structures, subject to enhanced reporting and audit scope.
RAKEZ, SHAMS, IFZA & Other Free Zones
Audit requirements vary by license type and activity. Several now mandate audited financials for renewal, with thresholds tightening as Corporate Tax compliance becomes the default expectation.
Our Audit Methodology
A statutory audit is only as valuable as the rigor and judgment behind it. Our approach is built on four pillars.
Risk Based Planning
Every engagement begins with an entity level risk assessment under ISA 315 (Revised), identifying significant risks, evaluating internal controls, and setting materiality with professional judgment rather than a fixed formula.
Technology Enabled Fieldwork
We deploy audit management software for engagement planning, electronic working papers, and real time review trails, supported by data analytics tools for full population testing of transactions rather than sample only testing wherever data quality permits.
Quality Control & Review
Every file is subject to engagement level review and, where applicable, an independent Engagement Quality Control Review (EQCR), in line with ISQM 1 and ISA 220 (Revised), ensuring conclusions are challenged, not just documented.
Reporting
We deliver clear, decision useful audit reports: clean opinions where warranted, and transparent communication of key audit matters, control deficiencies, and management recommendations where relevant.
What Sets This Audit Apart
The technical depth and quality discipline that make KGRN's statutory audit a dependable, decision useful engagement.
From scope to signed opinion
Four checkpoints, each one only closed once the work behind it is done. Scroll into view to watch the file get processed.
Every engagement, covered by one team
From the annual statutory audit to a narrow, purpose specific engagement, KGRN scopes and delivers the right audit for your jurisdiction and intended user.
General Purpose Audit
Annual statutory audit for free zone license renewal, bank facility covenants and group consolidation reporting.
Talk to a specialistSpecial Purpose & Corporate Tax Audits
ISA 800/805 engagements, including Corporate Tax compliance audits under Federal Decree Law No. 47 of 2022.
Talk to a specialistJurisdiction Advisory
Audit, AML and substance guidance at incorporation and renewal, across mainland and every major free zone.
Talk to a specialistTechnology Enabled Fieldwork
Data analytics led testing, electronic working papers and real time review trails for accuracy and speed.
Talk to a specialistIndependent Quality Review
Partner led Engagement Quality Control Review on every file, in line with ISQM 1 and ISA 220 (Revised).
Talk to a specialistOngoing Regulatory Standing
Registered auditor status across the UAE's major regulators and free zones, kept current as rules evolve.
Talk to a specialistGet in Touch to Discuss Your Audit Requirements
Whether it's a general purpose statutory audit, a special purpose engagement, or jurisdiction specific advisory, KGRN's audit specialists are ready to help.