The Abu Dhabi Accountability Authority (ADAA) has recently introduced new updates to the Statutory Auditor Appointment Rules. The new rules aim to raise audit quality, reinforce auditor independence and information confidentiality, and promote Emiratization within the audit profession.
Among the notable changes include increasing the minimum percentage of audit hours allocated to UAE national professionals to 40 percent, and encouraging audit firms to advance the development of national talent into supervisory positions.
Additionally, the update adjusted the term of auditor appointment to six years, in line with other regulatory and legislative authorities in the UAE.
The new rules also prioritize the appointment of national companies for statutory audits in Abu Dhabi. The revisions strengthen the role of those charged with governance in overseeing financial statement audits and enhance the authority’s monitoring and oversight of auditors.
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The updates are part of ADAA’s broader strategy to empower national talent in auditing, enhance governance and accountability, and ensure compliance with professional standards in auditing and accounting.
In addition, it aligns with the ADAA’s goals of continuously improving audit quality in Abu Dhabi and fostering transparency and credibility. The authority also seeks to strengthen foreign investor confidence in the audit process.
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