Annual Statutory Audit

Annual Statutory Audit

An Annual Statutory Audit is a legally required examination of a company’s financial statements conducted once a year to ensure they are accurate, complete, and compliant with applicable laws and accounting standards. It provides stakeholders, including regulators, investors, and management, with assurance that the company’s financial records fairly represent its financial position and performance.

Key Points:

Conducted annually as per UAE laws and free zone regulations.

Ensures compliance with International Financial Reporting Standards (IFRS).

Helps detect errors, fraud, or misstatements in financial records.

Required for all registered companies, including mainland and free zone entities.

Purpose:

The audit safeguards transparency, builds trust with stakeholders, and ensures regulatory compliance in the UAE business environment.