Statutory audit
Annual audit of IFRS financial statements for mainland and free zone companies.
External Audit Services in Dubai and the UAE: Statutory Audits for Mainland and Free Zone Companies
An external audit is an independent examination of a company's annual financial statements, leading to an auditor's opinion on whether they give a true and fair view under IFRS. In the UAE, mainland LLCs must appoint an auditor, most free zones require audited accounts at licence renewal, and corporate tax requires them for QFZPs and companies with revenue above AED 50 million. SGA World provides external audits.
- Ministry of Economy and Tourism approved auditor
- 500+ clients
- Dubai & Abu Dhabi
External audit services give shareholders, banks, licensing authorities and the Federal Tax Authority confidence that a company's annual financial statements are reliable. The external auditor tests the figures and issues an independent opinion on whether they give a true and fair view under IFRS.
SGA World is a Ministry of Economy and Tourism approved audit firm providing external audit services in Dubai, Abu Dhabi and across the UAE, for mainland companies, free zone companies, branches and groups. Our audits follow International Standards on Auditing (ISA) and are planned so the same audited accounts work for your licence renewal, bank facilities and corporate tax return.
Comparing audit firms? Read our guide to the best auditors in the UAE and how to choose an audit firm in Dubai.
- Audits to International Standards on Auditing
- ISA
- Financial statements reviewed under IFRS
- IFRS
- Ministry of Economy and Tourism approved firm
- MoET
- Accepted for licence, banks and corporate tax
- One audit
At a glance
External Audit Services: Key Points
- Mainland: limited liability companies must appoint an auditor under the Commercial Companies Law.
- Free zones: most free zones require audited accounts at licence renewal, often from an approved auditor.
- Corporate tax: audited financial statements are required for QFZPs and companies with revenue above AED 50 million.
- Standards: audits follow ISA; financial statements are prepared under IFRS.
- Opinion: unmodified (clean), qualified, adverse or disclaimer, depending on the evidence.
- Timing: plan the audit around your renewal date and the 9-month corporate tax deadline.
Our services
What Do Our External Audit Services Include?
Free zone audits
Audits to each zone's requirements, including approved audits where the zone requires them.
Group and consolidation audits
Audits of groups, holding companies and consolidated accounts.
Audits for corporate tax
Audited accounts for QFZPs and companies above AED 50 million revenue.
Special purpose audits
Audits for banks, tenders, investors, ICV and specific reporting needs.
Pre-audit clean-up
Help to close and reconcile the books before fieldwork starts.
Who needs it
Which UAE Companies Need an External Audit?
- Mainland limited liability companies: the Commercial Companies Law requires an auditor to be appointed and the annual accounts to be audited.
- Free zone companies: most free zones, such as DMCC, JAFZA, DAFZA and SAIF Zone, require audited accounts before licence renewal. A few, such as Meydan, generally do not, but other rules may still apply. See our free zone guides.
- Qualifying Free Zone Persons: audited accounts are a condition of the 0% corporate tax rate.
- Companies with revenue above AED 50 million: audited accounts are required for corporate tax.
- Banks, investors and tenders: often ask for audited accounts even when the law does not.
How we work
How Does Our External Audit Process Work?
Step01
Plan
Understand the business, assess risks and agree the timetable around your deadlines.
Step02
Interim work
Test controls and transactions before the year end where useful.
Step03
Fieldwork
Confirm balances, attend stock counts and test revenue, costs and disclosures.
Step04
Adjustments
Discuss findings and agree any adjustments with management.
Step05
Report
Issue the audit opinion and the audited IFRS financial statements.
Step06
Management letter
Share control recommendations to make next year faster.
Why SGA World
Why Choose SGA World for External Audit Services?
Audits that meet every deadline
Planned around your licence renewal, bank reviews and the 9-month corporate tax deadline.
Ministry-approved audit firm
SGA World is a Ministry of Economy and Tourism approved audit firm, so our reports are accepted where it matters.
Audit and tax in one team
Auditors, VAT, corporate tax and transfer pricing specialists work together, so nothing falls between advisers.
Qualified chartered accountants
A team of chartered accountants qualified in India and the UK, focused on UAE rules.
500+ clients
Mainland and free zone companies, from start-ups and SMEs to regional groups.
Listed with major UAE banks
Our audit work is recognised by major UAE banks for facilities and account reviews.
Audit opinions
What Types of Audit Opinion Can a Company Receive?
| Opinion | What it means | Typical cause |
|---|---|---|
| Unmodified (clean) | The financial statements give a true and fair view | Sufficient evidence, no material misstatements |
| Qualified | True and fair except for a specific matter | A material issue in one area, such as inventory |
| Adverse | The financial statements do not give a true and fair view | Pervasive material misstatements |
| Disclaimer | The auditor cannot form an opinion | Records too incomplete to audit |
A clean opinion is what banks, free zones and the FTA expect. Good records and a planned audit are the best way to get one.
Worked example
Example: Turning a Qualified Opinion Into a Clean One
A Dubai trading company received a qualified opinion from its previous auditor because no year-end stock count had been observed, and the bank questioned its facility.
For the next year we:
1. agreed the stock count date and procedures before the year end; 2. attended the count and tested cut-off of goods received and dispatched; 3. reconciled the stock ledger and reviewed slow-moving items for write-down; 4. tested receivables with confirmations from major customers.
The company received an unmodified (clean) opinion, the bank renewed its facility, and the same accounts supported its corporate tax return.
What to prepare
What Documents Do You Need for an External Audit?
Company documents
Trade licence, memorandum and articles, share register and board minutes.
Accounts
Trial balance, general ledger and draft financial statements.
Bank
Bank statements and confirmations for all accounts.
Balances
Receivables and payables listings, stock reports and fixed asset register.
Contracts
Key customer, supplier, lease and loan agreements.
Tax
VAT returns, corporate tax registration and related-party details.
Fees and timing
How Much Does an External Audit Cost in Dubai?
Audit fees depend on revenue and transaction volume, the condition of the books, inventory and stock counts, the number of entities, bank accounts and currencies, related parties and any special reporting. A small company with organised books usually needs one to two weeks of fieldwork; larger or group audits take longer. We agree a fixed fee after reviewing your trial balance. See our guide to audit firm costs and how to choose.
Avoid problems
Common External Audit Problems
No year-end stock count
Qualified opinion on inventory
Unreconciled bank accounts
Delays and extra audit work
Missing contracts and invoices
Balances cannot be verified
Audit started in renewal week
Licence renewal delayed
Auditor not accepted by the free zone
The report is rejected
Related parties not disclosed
Disclosure and tax issues
Industries
Which Industries Do We Serve?
Real estate and construction
Developers, contractors, brokers and landlords.
Retail and e-commerce
Shops, brands and online sellers.
Oil and gas
Service companies, suppliers and traders.
Hospitality
Hotels, restaurants and cafés.
Healthcare and clinics
Clinics, hospitals and pharmacies.
Free zone companies
Every UAE free zone, one team.
Tech start-ups and fintech
SaaS, start-ups and fintechs.
Audit desk
Get a Clean, On-Time External Audit
Tell us your company type, year end and renewal date. We will plan the audit and confirm a fixed fee.
We handle
- Statutory audits
- Free zone audits
- Group audits
- Audits for corporate tax
- Pre-audit clean-up
Location: Dubai & Abu Dhabi
Talk to Our Team
Our offices in Business Bay, Dubai and Al Bateen, Abu Dhabi support clients across the UAE.
Dubai
Office 1923, The Exchange Tower, Business Bay, Dubai
Abu Dhabi
Khalidiya Towers M-B6, W10, Al Bateen, Al Khalidiyah, Abu Dhabi
Talk to an auditor
Tell us your company type, jurisdiction and deadline. We will confirm the scope, timeline and fee.
- WhatsApp us+971 50 627 3556
- Call us+971 4 570 1795
- Email us[email protected]
- Book an appointmentChoose a time that suits you
Prefer a form? Send us a detailed enquiry.
Who prepared this page
Written and reviewed by SGA World's audit and tax team
This guide is prepared by chartered accountants at SGA World Auditing Accounting L.L.C S.P.C in Business Bay, Dubai, a Ministry of Economy and Tourism approved audit firm, and checked against Federal Tax Authority legislation and guidance. It is reviewed whenever the rules change.
- Last reviewed 14 October 2026
- Chartered accountants from India and the UK
- FTA representation through Saif Chartered Accountants
Have a question about your company?
Tell us your activity, jurisdiction and deadline. A chartered accountant will reply.
Ask an expertFrequently asked questions
External Audit Services – FAQs
Short answers to the questions UAE businesses ask us most. Still unsure?
Talk to our team01.What is an external audit?
An independent examination of a company's annual financial statements, resulting in an auditor's opinion on whether they give a true and fair view under IFRS.
02.Is an external audit mandatory in the UAE?
For mainland limited liability companies, yes, under the Commercial Companies Law. Most free zones also require audited accounts at licence renewal.
03.Do free zone companies need an external audit?
Most do, at licence renewal, and a Qualifying Free Zone Person needs audited accounts for corporate tax.
04.When are audited accounts required for corporate tax?
For Qualifying Free Zone Persons and for taxable persons with revenue above AED 50 million.
05.Which standards are used for external audits?
International Standards on Auditing (ISA), with financial statements prepared under IFRS.
06.What is the difference between external and internal audit?
External audit gives an opinion on the annual financial statements. Internal audit improves risks and controls during the year.
07.What is a qualified audit opinion?
An opinion that the financial statements are true and fair except for a specific matter, such as inventory that could not be verified.
08.How long does an external audit take?
For a small company with organised books, usually one to two weeks of fieldwork, plus reporting.
09.How much does an external audit cost in Dubai?
It depends on size, transactions, inventory, entities and the condition of the books. We confirm a fixed fee after reviewing the trial balance.
10.Is SGA World an approved auditor?
SGA World is a Ministry of Economy and Tourism approved audit firm, and provides approved audits for free zones where the zone requires an approved auditor.
11.Can you audit a group of companies?
Yes. We audit groups, holding companies and consolidated financial statements.
12.What do we need to prepare for an audit?
Licence and company documents, the trial balance and ledgers, bank confirmations, balance listings, key contracts and tax records.
13.Who are the best auditors in the UAE?
See our guide to the best auditors in the UAE, which compares the Big Four, international networks and independent firms.
References:Ministry of Economy and Tourism · IAASB: International Standards on Auditing · Federal Tax Authority — reviewed 14 October 2026
