The Abu Dhabi Accountability Authority (ADAA) has introduced new updates to the Statutory Auditor Appointment Rules, designed to elevate audit quality, reinforce auditor independence and information confidentiality, and promote Emiratisation within the audit profession.
The updated rules prioritise the appointment of national companies for statutory audits. The revisions strengthen the role of those charged with governance in overseeing financial statement audits and enhance ADAA’s monitoring and oversight of auditors.
Notable changes include increasing the minimum percentage of audit hours allocated to UAE National professionals to 40 per cent, and encouraging audit firms to advance the development of national talent into supervisory positions. Additionally, the term of auditor appointment has been adjusted to six years, aligning with other regulatory and legislative authorities in the UAE.
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. The aim is to continuously improve audit quality, foster transparency and credibility, and strengthen foreign investor confidence in the audit process.
