Companies registered in Qatar under the Commercial Companies Law No. 11 of 2015 are required to prepare annual financial statements and have them audited by a licensed auditor. MBN performs statutory and voluntary audits under International Standards on Auditing, reporting against IFRS as applied in Qatar. The signed opinion supports your commercial registration renewal, tax filing, bank facilities and tender submissions.
An audit opinion is not paperwork for its own sake. It is the document your bank reads before renewing a facility, your prospective partner reads during due diligence, and the General Tax Authority reads alongside your tax return.
A qualified opinion, or a late one, has commercial consequences well beyond the audit fee.
How we run an audit
We plan around your reporting deadlines rather than our own capacity. You receive a written scope, a timetable, and a specific list of records required before fieldwork begins.
Findings are raised as they arise. Nothing material is saved up for a closing meeting, because by then it is too late to fix cheaply.
Who we audit
Owner-managed LLCs, branches of foreign companies, joint ventures, QFC entities and groups requiring consolidation. Sector experience includes contracting, trading and distribution, professional services, healthcare and real estate.
How the engagement runs
1
Plan
Agree scope, materiality and timetable, and issue the records request in advance.
2
Assess risk
Understand the business and its controls to focus testing where misstatement is actually likely.
3
Test
Substantive and controls testing under ISA, with findings raised as they arise.
4
Report
Signed opinion plus a management letter setting out control weaknesses and what to do about them.
Frequently asked questions
Is an audit mandatory in Qatar?
Companies registered under the Commercial Companies Law No. 11 of 2015 are required to prepare annual financial statements audited by an auditor licensed in Qatar. Audited accounts are also required to support tax filing, commercial registration renewal and most tender submissions.
Which standards apply to audits in Qatar?
Audits are conducted under International Standards on Auditing (ISA) and financial statements are prepared under International Financial Reporting Standards (IFRS) as applied in Qatar. Both are internationally recognised, which matters when a foreign parent or lender relies on the accounts.
When does the audited return have to reach the GTA?
The income tax return is due within four months of the end of your financial year, filed through the Dhareeba portal. The General Tax Authority has extended that period in recent years and announces the applicable dates each year, so confirm the current deadline against the GTA announcement for your tax year rather than assuming last year's date. Plan the audit backwards from it: the return is filed with audited financial statements, so the audit has to be finished first, not started at the deadline.
How long does an audit take?
For a typical owner-managed company with orderly records, fieldwork takes one to three weeks and the opinion follows shortly after clearance of outstanding items. The main variable is not our capacity, it is how quickly complete records are made available.
What is the difference between an external and an internal audit?
An external audit produces an opinion for third parties on whether the financial statements give a true and fair view. An internal audit is for management and tests whether controls and processes are operating as intended. They serve different audiences and are not substitutes.
What records do you need to start an audit?
Trial balance and general ledger, bank statements and reconciliations, fixed asset register, inventory records, revenue and expense support, payroll records, contracts and legal correspondence, and the prior year signed accounts.
Need this done?
Tell us your deadline and we will tell you what is required, what it involves and what it costs.
