Statutory Audit in the UAE

A statutory audit is an independent assessment of the financial accounts of a company or institution. The auditor’s role is to report on whether the financial statements issued by an organization are ‘true and fair’, and meet all relevant guidelines or legal requirements. This in turn allows companies to guard against risk and plan for the future.

The auditing sector has been under scrutiny recently, with the government calling for reform following the collapse of high-profile firms whose audits have been called into question. Clearly, it’s vital that auditors recognize and report on any issues that emerge from the auditing process so that any problems in the business can be addressed. Here at Alya, we work with clients to provide effective and timely audits that meet and exceed all statutory obligations.