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A statutory audit is a legally mandated review of a company’s financial records to determine the accuracy and fairness of its financial statements. It ensures that an organization provides a true and fair view of its financial position by examining records such as bank balances, accounting books, and financial transactions.
This type of audit is conducted in accordance with UAE commercial laws and International Financial Reporting Standards (IFRS). In the UAE, statutory audits are often required for mainland companies, free zone entities, and businesses renewing trade licenses.
The term statutory refers to something required by law or regulation. During a statutory audit, professional auditors assess:
Income statements and balance sheets
Cash flow records
Bank statements and transactions
Internal accounting procedures
Compliance with UAE corporate laws and financial regulations
The goal is to verify that the company is maintaining accurate records and operating within legal frameworks.
A statutory audit serves several important functions:
✅ Ensure legal compliance with the UAE’s corporate and tax regulations
✅ Detect errors or potential fraud through independent verification
✅ Provide transparency to stakeholders, investors, and government bodies
✅ Support license renewals in Free Zones and Mainland authorities
✅ Promote accountability in financial reporting
Importantly, undergoing a statutory audit does not imply wrongdoing — rather, it is a proactive measure to ensure financial integrity and build trust.
Statutory audits are common worldwide. In the UAE, businesses may be required to present audited financials to:
Free zone authorities like DMCC, JAFZA, DAFZA, DIFC, etc.
Government departments during license renewals
Foreign regulatory bodies, if the UAE business operates internationally
Banks or investors seeking assurance on the company’s financial health.
A DMCC-registered company must submit an annual statutory audit report from an approved auditor.
A JAFZA entity requires an audit for license renewal and to comply with economic substance regulations.
A multinational company operating in the UAE may need to file audited financials with authorities in Europe or Asia, depending on local regulations.
At Alya Al Marzooqi Auditing, we offer comprehensive Statutory Audit Services in Dubai and across the UAE, tailored to meet your business’s legal and operational needs.
✅ IFRS-compliant audit reports
✅ Approved auditors in major UAE Free Zones and Mainland
✅ Experienced audit team with industry-specific knowledge
✅ Expertise in VAT, Corporate Tax, ESR, and AML compliance
✅ Quick turnaround and transparent communication
Our audit professionals bring international experience and UAE market expertise to deliver reliable, regulatory-compliant audits for businesses of all sizes.
Ensure your business remains compliant and transparent with the help of professional statutory auditors.
Contact Alya Almarzooqi Auditing for a free consultation or to schedule your audit.
📧 Email: audit@alyaauditors.com
📞 Phone: 048769377
🌐 Website: www.alyaauditors.com
Truly, let us know what service you are looking for and hence we can get back to you with more details.
Definitely, Alya Auditors is the one partner you need to ensure your business is built on accurate accounting books certainly, to spearhead greater growth and wider market reach.
An association of legally independent auditing & accounting firms in the UAE
Silver Tower, Business Bay. PO Box: 41102, Dubai, UAE.
Sharjah Airport Free Zone PO Box: 120403 Sharjah, UAE.
+971 48769377
+971 52 9750690 , +971 50 522 1035
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Saturday – 9 AM – 5 PM
Sunday – Closed
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