Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Arbitration Centre Overview Business areas Setting up Operating in Public registers Legal framework Regulation Awareness Collaboration Ecosystem ADGM Sustainable Media News Events Spotlight Podcasts Publications Support Make an enquiry Whistleblowing FAQs
A platform that offers limitless opportunities and paves the way for a brighter future

Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.

Read about Abu Dhabi's lifestyle
Latest initiatives ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM ADGM Marks Its Presence on Al Reem by Hosting its First Community Event on the Island
Providing an environment that empowers the future

A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.

Find out how to set up in ADGM
Latest news 24 French Asset Management Firms With $1.6 Trillion AUM Convene for Second UAE – France Investor Meetup ADGM's Financial Regulator fines Sarwa Digital Wealth (Capital) Limited USD 122,500 for making an Offer of Securities in ADGM without Approved Prospectus
Preserve our economies and environment for future generations

ADGM, the centre for a transparent and thriving sustainable finance ecosystem.

More about our Sustainability vision
Highlights ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28 ADGM Implements its Sustainable Finance Regulatory Framework
Stay up-to-date with our wide range of available resources

Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.

Read our latest news articles
Upcoming events ADGM's 4th Annual FATCA and CRS Awareness Session LINK Networking Series
We are here to help

At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.

View available support options
Some of our FAQ topics
  • Getting started
  • Foundations regime
  • Resolution for incorporation
  • Existing auditors
  • New auditors
  • ACCESSADGM
  • Auditors

    service

    Background

    The Registration Authority (RA) has a statutory responsibility to oversee the regulated area of audit within the jurisdiction of ADGM. The RA is responsible for:

    • Registration, incorporation and licensing of audit firms in ADGM
    • Granting authorisation to registered audit firms and principals to conduct audit work
    • Authorising and maintaining changes with ADGM registered firms and principals
    • Maintaining the register of Recognised Auditors

    The current legal framework gives the RA its powers. The framework, in place since ADGM’s inception, was based on English common law. The framework’s company regulations and rules provide the approach to the RA’s oversight of audit.

    However, international developments including EU audit directive changes and high-profile corporate failures coupled with ADGM’s significant growth over the last five years meant that it was time to enhance the audit legal framework.

    The new Auditors’ Framework

    In late 2020, the RA conducted a public consultation to enhance and strengthen the legal framework governing the regulated area of audit. The RA proposed enhancements to the framework with the following objectives in mind:

    • International equivalence to Competent Authorities in the developed world,
    • Placing investor protection and public interest at the forefront of any new regime,
    • Protecting and improving audit and financial reporting quality,
    • Audit firms upholding the highest professional standards,
    • Increasing and safeguarding business confidence, and
    • Strengthening the integrity of markets and financial systems.

    Following the consultation phase and constructive dialogue with stakeholders, the proposed changes to the framework made their way for enactment. On 25 August 2021, through a written resolution the ADGM Board approved the new auditors’ framework for commencement on 1 December 2021. The new legal framework enhances powers of the RA in several areas to help ensure effective audit oversight.

    The importance of audit quality

    The role audit firms and professionals perform is more important than ever. Stakeholders, from registered entities to investors, all rely on the soundness of financial markets and systems to make decisions. For the Abu Dhabi Global Market (ADGM) to continue as a world leading financial centre that attracts talent, investment and business activity from all over the world, we must recognise the crucial role of high-quality audits.

    High-quality audits matter because they reinforce trust in financial reporting by companies. The financial statements and reporting by ADGM entities allows shareholders, investors, and other stakeholders to form a view of the audited entity. This in turn then allows informed decision making.

    Audit quality suffers when auditors fall short of the standards expected from them. The consequences of which can be severe not only for investors but also for other stakeholders, the profession and importantly to the reputation of ADGM’s status as a leading international financial centre.

    Role of the RA

    As ADGM’s audit regulator, the Registration Authority (RA) plays a key role in monitoring and supervising the regulated area of Audit with the primary focus of ensuring stakeholders, particularly investors, have access to reliable, transparent and timely financial information.

    Audit Monitoring Report 2023 The report highlights key findings from the ADGM Registration Authority’s 2023 inspections and identifies focus areas for the rest of 2024. Download report