ADGM Approved Auditors
The Abu Dhabi Global Market (ADGM), established under UAE Federal Decree-Law No. 4 of 2013, initially operated on Al Maryah Island and has recently expanded to Al Reem Island under UAE Cabinet Resolution No. 41 of 2023. This strategic expansion supports Abu Dhabi’s 2023–2027 goals to strengthen its financial sector and enhance its global competitiveness.
Companies operating under ADGM are required to comply with strict auditing and regulatory standards. Failure to meet these standards can lead to substantial financial penalties and reputational risks. ADGM-approved auditors, such as Quick Digits, play a crucial role in ensuring transparency, compliance, and accurate financial reporting, safeguarding your business in this dynamic economic environment.
Who Are ADGM Approved Auditors
ADGM-registered auditors are financial professionals recognized by the ADGM Registration Authority. They have the qualifications and expertise required to conduct accurate and reliable audits in accordance with International Financial Reporting Standards (IFRS) and ADGM-specific regulations.
Certified auditors ensure strict compliance with all financial reporting requirements, minimizing the risk of heavy penalties and regulatory issues.
Quick Digits is a certified ADGM audit firm. Our expert team delivers comprehensive audit services that meet all ADGM requirements while supporting your business growth and maintaining financial integrity in the Free Zone.
Our Audit Process in Abu Dhabi Global Market (ADGM)
At Quick Digits, we follow a comprehensive audit process for ADGM companies to ensure accuracy, transparency, and full regulatory compliance at every stage. Our structured approach is designed to streamline the audit while safeguarding your business.
The process typically includes the following steps:
1. Initial Consultation
In the first step, Quick Digits’ expert audit team reviews all your financial details to identify any loopholes or irregularities. During this stage, we also examine your documents to ensure they are complete, accurate, and properly organized for the audit process.
2. Audit Execution
In the second step, Quick Digits ensures that your financial statements comply fully with ADGM auditing standards. Our expert team conducts a comprehensive review to verify that all statements meet regulatory requirements, maintaining accuracy, transparency, and adherence to ADGM guidelines.
3. Issue Resolution
In the third step, Quick Digits’ audit team carefully reviews any issues identified during the audit. We address errors and provide actionable recommendations to ensure your financial records are accurate, complete, and fully compliant with ADGM standards.
4. Compliance Assurance
In the fourth step, Quick Digits ensures that all findings and financial reports generated from the audit are fully aligned with ADGM compliance requirements. This verification guarantees accuracy, regulatory adherence, and transparency in all audit outcomes.
5. Finalization and Submission
In the final step, Quick Digits prepares a comprehensive audit report encompassing all findings and analyses from the previous steps. We handle the submission of the finalized report directly to the ADGM Authority, ensuring full compliance and timely delivery.
Benefits of Hiring an ADGM-Approved Auditor
Hiring a certified ADGM auditor offers numerous advantages for companies operating under ADGM regulations. The key benefits include:
Ensures your financial statements meet the strict ADGM reporting standards.
Certified auditors facilitate precise and transparent financial reporting.
A structured audit process builds trust among investors, clients, and stakeholders.
Aligns your business with ADGM regulatory requirements and minimizes the risk of costly penalties.
ADGM auditors specialize in IFRS compliance, which is crucial for businesses competing in international markets.
Certified auditors analyze and interpret your financial data, providing actionable insights for informed decision-making and long-term planning.
Beyond ADGM audits, certified auditors can assist with VAT and corporate tax compliance, offering solutions for broader financial and legal challenges.
Key Documents Required for ADGM Audits
For a smooth and compliant audit in the ADGM Free Zone, companies are required to prepare and submit the following essential documents:
A valid copy of your company’s trade license.
A copy of the MOA specifying the company’s objectives and structure.
Detailed statements, balance sheet, income and cash flow statement.
Verified bank records for the financial year under review.
Records of sales and purchase invoices.
Corporate tax certificate with all essential details.
Comprehensive VAT reports and filings, if applicable.
- Salary and payroll details for the financial year.
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FAQ
Is a Tax Consultant Necessary in Dubai?
With Dubai’s evolving legal and financial landscape, it has become essential for businesses of all sizes to engage a professional tax consultant. Their expertise helps resolve complex tax matters while ensuring full compliance with Dubai’s regulations.
How Do Businesses Pay Taxes in the UAE?
Since June 1, 2023, the UAE has applied a 9% corporate tax on net profits exceeding AED 375,000. Profits below this threshold are taxed at 0%. In addition, businesses must register for VAT if their taxable supplies exceed the mandatory registration threshold of AED 375,000.
What If I Miss a Tax Deadline?
According to Cabinet Decision No. 75 of 2023 and Ministerial Decision No. 74 of 2023, the UAE Federal Tax Authority imposes a fine of AED 10,000 for late corporate tax registration. Continued delays can result in additional penalties, starting from AED 500 per month and rising up to AED 5,000 per month depending on the length of the delay.
What are your tax consultancy fees?
Our tax consultancy services in Dubai start from AED 500 and can go up to AED 20,000, based on the scope and complexity of your requirements.
Can you help with Free Zone company tax compliance?
At Quick Digits, our tax experts assist Free Zone companies with complete tax compliance, including corporate tax registration, filings, and exemption assessments. We ensure your business meets all FTA requirements accurately and on time, covering major Free Zones such as DMCC, IFZA, MEYDAN, SHAMS, and RAKEZ.