Auditing · Qatar
Auditing Services in Qatar
Qatari companies — particularly those with foreign ownership subject to GTA corporate tax, QFC-regulated entities, and businesses with lender covenants — require annual audits by firms registered with the Ministry of Commerce and Industry or the QFC Authority.
Overview
Fintax Support Limited prepares IFRS audit-ready financial statements, compiles working papers, and coordinates with your external auditor. We reconcile audited accounts to GTA corporate tax returns, withholding tax filings, and QFC regulatory submissions.
Key compliance areas in Qatar
06 areas- Corporate income tax 10%
- QFC regulations
- WPS
- commercial registration
- withholding tax
- transfer pricing
Regulatory framework
GTA requires audited financial statements to accompany corporate tax returns for entities meeting prescribed thresholds. QFC entities must file audited accounts with the QFC Authority annually. MOCI may require audited accounts for commercial registration renewal depending on company size and activity. GTA can conduct tax audits covering up to five years of returns.
GTA (General Tax Authority of Qatar)Key facts
- 5 yearsGTA tax audit window
- AnnualAudited accounts for QFC entities
9 specialised services
Our Auditing services in Qatar
On this page (9)
01 / 09
Statutory Audits (ISA-Compliant)
Prepare for mandatory annual financial statement audits required under Qatar Law No. 11 of 2015 (Commercial Companies Law). We assemble IFRS-compliant accounts, ISA-indexed working papers, and PBC schedules so your MOCI-licensed external auditor can issue an unmodified opinion and you meet commercial registration renewal, GTA tax filing, and QFMA disclosure deadlines.
IFRS audit-ready statements
Law No. 11 of 2015 compliance
ISA-indexed PBC schedules
MOCI-licensed auditor readiness
How it works, details and FAQsShow less
How it works
- 01
Audit obligation mapping
Confirm Law No. 11 of 2015 audit mandate, QFMA listing requirements, GTA tax filing thresholds, and MOCI commercial registration renewal obligations.
- 02
IFRS financial statement preparation
Compile IFRS accounts, related-party schedules, and going-concern disclosures aligned to ISA presentation requirements.
- 03
MOCI-licensed auditor fieldwork support
Respond to PBC requests, provide substantiation, and resolve testing exceptions during on-site or remote audit fieldwork.
- 04
Audit report & MOCI filing support
Coordinate signed audit report delivery, board approval, and submission alongside commercial registration renewal and GTA tax return filing.
- 01
Audit obligation mapping
Confirm Law No. 11 of 2015 audit mandate, QFMA listing requirements, GTA tax filing thresholds, and MOCI commercial registration renewal obligations.
- 02
IFRS financial statement preparation
Compile IFRS accounts, related-party schedules, and going-concern disclosures aligned to ISA presentation requirements.
- 03
MOCI-licensed auditor fieldwork support
Respond to PBC requests, provide substantiation, and resolve testing exceptions during on-site or remote audit fieldwork.
- 04
Audit report & MOCI filing support
Coordinate signed audit report delivery, board approval, and submission alongside commercial registration renewal and GTA tax return filing.
Under Qatar Law No. 11 of 2015 (Commercial Companies Law), joint stock companies and entities exceeding prescribed size thresholds must appoint a MOCI-licensed auditor and prepare annual audited financial statements under IFRS, applying International Standards on Auditing (ISA). QFMA-listed companies on the Qatar Stock Exchange face additional audit and disclosure requirements under QFMA regulations. Companies with foreign shareholding subject to GTA corporate income tax must submit audited accounts with tax returns above prescribed thresholds. We prepare audit-ready working papers including adjusted trial balances, bank reconciliations, revenue cut-off testing schedules, and related-party disclosures before your MOCI-licensed external auditor begins fieldwork — reducing billable hours, accelerating report issuance ahead of MOCI renewal deadlines, and minimising repeat findings across multi-entity Qatar portfolios.
Common questions
02 / 09
Internal Audit & Management Review
Evaluate internal controls, operational processes, and financial reporting workflows through structured internal audit and management review programmes for Qatari entities. Internal audit identifies control weaknesses before your external auditor, MOCI regulator, or the GTA does — reducing fraud risk, qualified opinions, and compliance penalties across MOCI and QFC operations.
Control environment assessment
Process walkthrough testing
Deficiency identification
Management action plans
How it works, details and FAQsShow less
How it works
- 01
Risk assessment and scoping
Identify high-risk processes, GTA-relevant tax controls, and IFRS reporting areas based on your Qatar entity structure.
- 02
Control documentation and testing
Document key controls, perform walkthroughs, and test operating effectiveness over the review period.
- 03
Findings report delivery
Present internal audit findings to management and the board with severity classifications and root causes.
- 04
Remediation tracking
Monitor corrective actions through follow-up testing before statutory audit or GTA compliance review fieldwork.
- 01
Risk assessment and scoping
Identify high-risk processes, GTA-relevant tax controls, and IFRS reporting areas based on your Qatar entity structure.
- 02
Control documentation and testing
Document key controls, perform walkthroughs, and test operating effectiveness over the review period.
- 03
Findings report delivery
Present internal audit findings to management and the board with severity classifications and root causes.
- 04
Remediation tracking
Monitor corrective actions through follow-up testing before statutory audit or GTA compliance review fieldwork.
Internal audit and management review services evaluate whether your Qatari organisation's controls over financial reporting, GTA tax compliance, and operations are designed and operating effectively. We apply COSO principles and the Three Lines Model referenced by ISA 315 when external auditors assess control environments during Qatar statutory audits. Our engagements cover entity-level controls, IFRS 15 revenue recognition walkthroughs, GTA withholding tax controls, WPS payroll processing, procurement and disbursement cycles, and IT general controls across MOCI and QFC entities. Findings are classified by severity with remediation plans — the same discipline external auditors apply when evaluating deficiencies during MOCI-licensed audit and QFC regulatory fieldwork. Remediation before your statutory audit reduces qualified opinion risk and repeat findings that increase audit costs annually, particularly for QFMA-listed companies subject to enhanced governance expectations.
Common questions
03 / 09
GTA Tax Audit Preparation & Support
Prepare for General Tax Authority (GTA) corporate income tax audits and compliance reviews under Law No. 24 of 2018. We reconcile accounting records to GTA tax computations, assemble withholding tax registers and transfer pricing files, and support your business during GTA audit proceedings — linking book figures to audited IFRS accounts and tax return submissions.
Corporate tax reconciliation
Withholding tax substantiation
GTA return substantiation
GTA audit representation support
How it works, details and FAQsShow less
How it works
- 01
Tax record reconciliation
Reconcile IFRS accounts to GTA corporate tax computations, identifying permanent and temporary differences per GTA guidance.
- 02
Documentation assembly
Compile transfer pricing files, related-party agreements, withholding tax certificates, and foreign shareholding allocation schedules.
- 03
Pre-audit readiness review
Simulate GTA information requests and identify gaps in records, tax card status, or filing history across the five-year audit window.
- 04
GTA audit response & representation
Deliver structured response packages and support your team during GTA audit proceedings and follow-up queries.
- 01
Tax record reconciliation
Reconcile IFRS accounts to GTA corporate tax computations, identifying permanent and temporary differences per GTA guidance.
- 02
Documentation assembly
Compile transfer pricing files, related-party agreements, withholding tax certificates, and foreign shareholding allocation schedules.
- 03
Pre-audit readiness review
Simulate GTA information requests and identify gaps in records, tax card status, or filing history across the five-year audit window.
- 04
GTA audit response & representation
Deliver structured response packages and support your team during GTA audit proceedings and follow-up queries.
The General Tax Authority administers Qatar corporate income tax under Law No. 24 of 2018, applying a 10% rate on profits attributable to foreign shareholding in Qatari entities. The GTA may conduct tax audits covering up to five years of returns, requesting reconciliations between IFRS accounting records, audited financial statements, corporate tax submissions, and supporting documentation for withholding tax and transfer pricing. Companies with mixed Qatari and foreign ownership must substantiate profit allocation between exempt and taxable shares. We prepare comprehensive audit response packages including book-to-tax reconciliations, withholding tax registers with GTA remittance certificates, related-party transaction schedules, and fixed asset tax depreciation schedules. Proactive preparation reduces GTA assessment adjustments, penalty exposure, and interest on unpaid tax liabilities identified during the five-year audit review period.
Common questions
04 / 09
QFC Regulatory Audits
Prepare for regulatory financial statement audits required of entities licensed in the Qatar Financial Centre (QFC). We assemble accounts compliant with QFC Companies Regulations and QFC Authority audit requirements, coordinate with QFC-approved auditors, and manage annual filing with the QFC Authority alongside your MOCI group audit where applicable.
QFC Companies Regulations
QFC Authority filing compliance
QFC-approved auditor liaison
IFRS & ISA alignment
How it works, details and FAQsShow less
How it works
- 01
QFC regulatory requirement mapping
Confirm QFC audit mandate, filing deadline, approved auditor requirements, and entity-specific disclosures under QFC regulations.
- 02
Regulatory financial statement preparation
Compile IFRS accounts with QFC Companies Regulations presentation and note requirements for QFC Authority submission.
- 03
QFC-approved auditor fieldwork support
Deliver PBC schedules, respond to regulatory audit inquiries, and resolve testing exceptions during fieldwork.
- 04
QFC Authority filing & annual return
Submit audited accounts to the QFC Authority alongside annual return obligations and regulatory compliance confirmations.
- 01
QFC regulatory requirement mapping
Confirm QFC audit mandate, filing deadline, approved auditor requirements, and entity-specific disclosures under QFC regulations.
- 02
Regulatory financial statement preparation
Compile IFRS accounts with QFC Companies Regulations presentation and note requirements for QFC Authority submission.
- 03
QFC-approved auditor fieldwork support
Deliver PBC schedules, respond to regulatory audit inquiries, and resolve testing exceptions during fieldwork.
- 04
QFC Authority filing & annual return
Submit audited accounts to the QFC Authority alongside annual return obligations and regulatory compliance confirmations.
The Qatar Financial Centre operates under English common law with distinct regulatory audit requirements for licensed entities, separate from MOCI Commercial Companies Law obligations for onshore Qatari companies. QFC Companies Regulations require registered companies to prepare audited financial statements under ISA by QFC-approved audit firms and file them with the QFC Authority within prescribed deadlines after financial year-end. QFC-regulated financial services entities face additional prudential audit and reporting requirements. Non-compliance can result in penalties, license conditions, and public register sanctions. We prepare regulator-ready IFRS accounts, coordinate with QFC-approved audit firms including Big 4 coordination where group audits span MOCI and QFC entities, and manage submission timelines to ensure consistent figures across QFC regulatory filings and group statutory audit working papers.
Common questions
05 / 09
Inventory & Fixed Asset Verification
Support external auditors with physical inventory counts, fixed asset verification, and depreciation schedule reconciliation for Qatari entities. We coordinate stocktake procedures, asset tagging, and IFRS-compliant valuation schedules — addressing common audit focus areas for trading, manufacturing, construction, and hydrocarbon services companies across MOCI and QFC jurisdictions.
Physical inventory counts
Fixed asset register verification
Depreciation schedule reconciliation
Cut-off & valuation testing
How it works, details and FAQsShow less
How it works
- 01
Pre-count planning
Design stocktake procedures, freeze inventory movements, and prepare count sheets aligned to auditor requirements.
- 02
Physical verification execution
Conduct inventory counts and fixed asset walkthroughs with auditor observation and variance documentation.
- 03
Reconciliation and adjustment
Investigate count variances, update registers, and post adjusting entries for inventory and asset discrepancies.
- 04
Auditor schedule delivery
Provide indexed inventory and fixed asset schedules reconciled to the trial balance for audit fieldwork testing.
- 01
Pre-count planning
Design stocktake procedures, freeze inventory movements, and prepare count sheets aligned to auditor requirements.
- 02
Physical verification execution
Conduct inventory counts and fixed asset walkthroughs with auditor observation and variance documentation.
- 03
Reconciliation and adjustment
Investigate count variances, update registers, and post adjusting entries for inventory and asset discrepancies.
- 04
Auditor schedule delivery
Provide indexed inventory and fixed asset schedules reconciled to the trial balance for audit fieldwork testing.
Inventory and fixed assets represent high-risk audit areas for Qatari trading, manufacturing, logistics, and construction entities subject to mandatory IFRS audits under Law No. 11 of 2015, GTA tax filing requirements, or QFC regulatory mandates. External auditors apply ISA 501 and ISA 540 substantive procedures including physical observation of inventory counts, fixed asset existence verification, and depreciation recalculation under IAS 16 and IAS 2. We plan and execute stocktake procedures, coordinate auditor attendance at year-end counts, verify asset existence against registers, and reconcile carrying values to IFRS-compliant depreciation schedules. Proper verification reduces audit scope limitations, accelerates fieldwork for Qatar warehouse and retail operations, and ensures asset values support accurate GTA corporate tax computations and balance sheet presentation for MOCI-licensed statutory audits.
Common questions
06 / 09
Special-Purpose Audits
Deliver agreed-upon procedures, special-purpose audits, and targeted assurance engagements for Qatari transactions requiring assurance beyond statutory audit scope. We perform quality of earnings analyses, covenant compliance testing, and ISA 4400 AUP engagements for lenders, investors, government contractors, and litigation matters involving Qatar entities.
Agreed-upon procedures (AUP)
Quality of earnings analysis
Covenant compliance testing
Special-purpose reporting
How it works, details and FAQsShow less
How it works
- 01
Engagement scoping
Define special-purpose audit objectives, procedures, and reporting format with your legal, banking, or investor advisory team.
- 02
Data collection & analysis
Gather financial records, contracts, and transaction data; perform analytical procedures and substantive testing.
- 03
Findings documentation
Document AUP findings or adjusted earnings calculations with full supporting evidence indexed for user review.
- 04
Report delivery & query support
Issue special-purpose report and respond to follow-up queries from banks, investors, or legal counsel.
- 01
Engagement scoping
Define special-purpose audit objectives, procedures, and reporting format with your legal, banking, or investor advisory team.
- 02
Data collection & analysis
Gather financial records, contracts, and transaction data; perform analytical procedures and substantive testing.
- 03
Findings documentation
Document AUP findings or adjusted earnings calculations with full supporting evidence indexed for user review.
- 04
Report delivery & query support
Issue special-purpose report and respond to follow-up queries from banks, investors, or legal counsel.
Special-purpose audits address targeted assurance needs beyond MOCI-licensed statutory audit scope — including agreed-upon procedures under ISA 4400 for Qatari bank lending covenants, quality of earnings analyses for M&A transactions, and project cost certification for government and infrastructure contracts. Qatar banks routinely require AUP reports on working capital, revenue verification, or net debt calculations as conditions for facility agreements. Investors acquiring MOCI or QFC targets request normalised EBITDA schedules adjusting for non-recurring items, related-party transactions, and GTA tax contingencies. QFMA-listed company transactions may require additional disclosure-aligned special-purpose procedures. We scope each engagement to your specific requirements, coordinating with MOCI-licensed and QFC-approved auditors where joint reporting is needed for group structures spanning onshore and financial centre entities.
Common questions
07 / 09
Bank & Lender Due Diligence Audits
Prepare IFRS financial statements and agreed-upon procedures reports for Qatari bank lending, investor due diligence, and acquisition transactions. We assemble audit-ready accounts, covenant compliance schedules, and quality of earnings analyses so lenders and investors receive reliable financial information — whether for QNB facilities, Islamic finance structures, private equity investment, or cross-border M&A.
Bank covenant compliance schedules
Quality of earnings analysis
Agreed-upon procedures reports
Due diligence data room preparation
How it works, details and FAQsShow less
How it works
- 01
Requirement scoping
Review lender or investor information requests, covenant definitions, and due diligence scope with your advisory team.
- 02
Financial package preparation
Compile IFRS accounts, management accounts, and normalised earnings schedules for data room submission.
- 03
AUP or audit coordination
Coordinate with MOCI-licensed external auditors on agreed-upon procedures or expedited audit timelines for transaction deadlines.
- 04
Query resolution & closing support
Respond to lender and investor follow-up queries and support financial closing conditions through report issuance.
- 01
Requirement scoping
Review lender or investor information requests, covenant definitions, and due diligence scope with your advisory team.
- 02
Financial package preparation
Compile IFRS accounts, management accounts, and normalised earnings schedules for data room submission.
- 03
AUP or audit coordination
Coordinate with MOCI-licensed external auditors on agreed-upon procedures or expedited audit timelines for transaction deadlines.
- 04
Query resolution & closing support
Respond to lender and investor follow-up queries and support financial closing conditions through report issuance.
Qatari banks, sovereign wealth fund co-investors, and international private equity firms routinely require audited or reviewed IFRS financial statements as conditions for lending, investment, or acquisition transactions. Qatar-based lenders typically mandate debt service coverage and leverage covenant testing on audited accounts, while investors request quality of earnings analyses and agreed-upon procedures under ISA 4400 on revenue, working capital, and related-party balances. We prepare transaction-ready financial packages including normalised EBITDA schedules, covenant compliance calculations, and indexed data room documentation for due diligence. Whether supporting a MOCI trading company refinancing, a QFC holding structure investment, or a QFMA-listed acquisition, our preparation accelerates MOCI-licensed external auditor fieldwork and reduces transaction timeline risk from incomplete financial records.
Common questions
08 / 09
External Auditor Coordination
Manage the full relationship with your MOCI-licensed or QFC-approved external auditor — from engagement letter review and PBC list fulfilment through fieldwork support to audit report issuance. We act as your dedicated liaison with Big 4 coordination capability, ensuring ISA working papers are complete, fieldwork queries are resolved promptly, and audit timelines meet MOCI and QFC filing deadlines.
MOCI & QFC auditor liaison
PBC list management
Audit timeline management
Big 4 coordination
How it works, details and FAQsShow less
How it works
- 01
Engagement letter review
Analyse auditor scope, fee structure, PBC expectations, and timeline against your Qatar regulatory obligations.
- 02
PBC preparation & delivery
Compile and index all Prepared-by-Client schedules, reconciliations, and supporting documentation before fieldwork begins.
- 03
Fieldwork query management
Respond to auditor testing exceptions, provide additional evidence, and resolve open items during on-site fieldwork.
- 04
Report closing & filing
Coordinate management representation letters, board resolutions, signed audit report, and MOCI or QFC Authority filing.
- 01
Engagement letter review
Analyse auditor scope, fee structure, PBC expectations, and timeline against your Qatar regulatory obligations.
- 02
PBC preparation & delivery
Compile and index all Prepared-by-Client schedules, reconciliations, and supporting documentation before fieldwork begins.
- 03
Fieldwork query management
Respond to auditor testing exceptions, provide additional evidence, and resolve open items during on-site fieldwork.
- 04
Report closing & filing
Coordinate management representation letters, board resolutions, signed audit report, and MOCI or QFC Authority filing.
Coordinating with your MOCI-licensed or QFC-approved external auditor is critical to completing Qatar statutory audits on time and within budget. External audit firms — including Big 4 coordination for groups with MOCI onshore, QFC financial centre, and international parent entities — bill primarily for fieldwork time spent resolving incomplete PBC requests and testing exceptions. We manage the full auditor relationship: reviewing engagement letters for appropriate scope, fulfilling PBC lists with indexed trial balances and reconciliations, responding to fieldwork queries during ISA audit programmes, and coordinating report issuance for MOCI commercial registration renewal and QFC Authority filing. Our liaison ensures consistent figures across statutory audit working papers, GTA corporate tax reconciliations, and withholding tax registers — reducing repeat inquiries and protecting audit timelines for QFMA-listed disclosure and lender covenant certification.
Common questions
09 / 09
Audit Readiness Assessment
Conduct a pre-audit readiness assessment before your external auditor begins fieldwork — identifying IFRS compliance gaps, incomplete reconciliations, and missing PBC schedules across MOCI and QFC entities. Our readiness review reduces audit delays, scope limitations, and fee overruns for Law No. 11 of 2015 statutory audits, QFC regulatory filings, and QFMA-listed company reporting.
Pre-audit gap analysis
Working paper assembly
Issue identification & remediation
Timeline & fee optimisation
How it works, details and FAQsShow less
How it works
- 01
Engagement letter review
Analyse your external auditor's scope, PBC list, and timeline against your entity's Qatar regulatory obligations.
- 02
Readiness assessment
Evaluate trial balance completeness, IFRS compliance, reconciliations, and prior-year audit finding status.
- 03
Remediation and preparation
Resolve identified gaps, compile indexed working papers, and draft IFRS disclosure notes for auditor review.
- 04
Fieldwork handover
Deliver complete PBC package to your MOCI-licensed or QFC-approved auditor and support initial fieldwork queries through report issuance.
- 01
Engagement letter review
Analyse your external auditor's scope, PBC list, and timeline against your entity's Qatar regulatory obligations.
- 02
Readiness assessment
Evaluate trial balance completeness, IFRS compliance, reconciliations, and prior-year audit finding status.
- 03
Remediation and preparation
Resolve identified gaps, compile indexed working papers, and draft IFRS disclosure notes for auditor review.
- 04
Fieldwork handover
Deliver complete PBC package to your MOCI-licensed or QFC-approved auditor and support initial fieldwork queries through report issuance.
Audit readiness assessment is the most effective way to control external audit costs and meet Qatar regulatory filing deadlines — whether for Law No. 11 of 2015 MOCI statutory audits, QFC Authority regulatory filings, QFMA-listed company reporting, or GTA tax return substantiation requiring audited accounts. We assess your records against ISA PBC expectations and IFRS disclosure requirements before your MOCI-licensed or QFC-approved auditor begins fieldwork, identifying unreconciled accounts, missing related-party schedules, inadequate going-concern documentation, and GTA tax reconciliation gaps. Remediating issues pre-audit reduces billable hours, prevents scope limitations that delay report issuance, and ensures consistent figures across your statutory audit, QFC regulatory filing, and GTA corporate tax return — protecting commercial registration renewal timelines and QFMA disclosure obligations for listed entities.
Common questions
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Auditing · Qatar
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