Statutory / External Audit
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msa auditors
Statutory / External Audit Services
An audit is the highest-level financial-statement service an audit firm can deliver for its clients. At MSA Auditors, our Statutory & External Audit services go beyond number-checking — we interpret what the data reveals to help you overcome current challenges and prepare for future growth.
Our audit process ensures that your financial statements are prepared in accordance with accepted accounting standards, accurately reflecting profitability, financial position, and cash flow.
We assemble specialized audit teams to address the unique needs of different entity types:
Limited Liability Companies (LLCs)
Free Zone Companies
Sole Establishments
Partnerships
Non-Profit & Social-Purpose Organizations
Government or Semi-Government Entities
What is a Statutory / External Audit?
A statutory (external) audit is an independent examination of a company’s financial records — including accounting books, statutory registers, statements, and supporting documentation — to determine whether its financial statements fairly present the company’s financial position, performance, and cash flows as of a specified date. Upon completion, the auditor issues a professional report expressing their opinion on the fairness and accuracy of the financial statements.
Expert In Audit &
Financial Solutions!
MSA Auditors delivers accurate, compliant financial services with expert auditing, accounting, and tax solutions, helping businesses make confident decisions and achieve sustainable growth.
Statutory Audit UAE — Frequently Asked Questions
Is a statutory audit mandatory in the UAE?
Yes. All companies incorporated in the UAE mainland under the UAE Companies Law (Federal Law No. 32 of 2021) are required to have their financial statements audited annually by a licensed external auditor. Most UAE free zones also mandate annual audits, regardless of company size or revenue.
What does a statutory audit include in the UAE?
A UAE statutory audit includes an independent examination of the company's financial statements to verify they give a true and fair view in accordance with IFRS or IFRS for SMEs. The auditor issues a signed audit opinion submitted for license renewal, bank facilities, and investor purposes.
Who can conduct a statutory audit in the UAE?
Statutory audits must be conducted by auditors licensed by the UAE Ministry of Economy. Mainland company auditors must hold a Ministry of Economy audit licence, and free zone auditors must be approved by the respective free zone authority. MSA Auditors holds the required licence.
How long does a statutory audit take in the UAE?
For a well-prepared UAE SME, a statutory audit typically takes 2–4 weeks. Larger or more complex businesses may require 4–8 weeks, depending on transaction volume and the completeness of financial records provided to the auditor.
What documents are required for a UAE statutory audit?
Typically required: trade licence, Memorandum of Association, prior year audited financials, bank statements, general ledger, trial balance, sales and purchase invoices, payroll records, fixed asset register, and VAT/corporate tax returns. MSA Auditors provides a detailed checklist at engagement start.
