Audit firm hit with Dh323,180 penalty

By the Editorial Team · Monday, October 26, 2026

The Abu Dhabi Global Market’s Registration Authority fined MCA Auditors and Advisors LLP and its Audit Principal a total of $88,000 for multiple audit deficiencies, including inadequate risk assessments and insufficient oversight. These penalties reflect the regulator’s commitment to enforcing strict audit standards and require the firm to rectify the identified shortcomings.

The Registration Authority (RA) of the Abu Dhabi Global Market (ADGM) has imposed fines totaling $88,000 (approximately Dh323,180) on MCA Auditors and Advisors LLP and its Audit Principal due to audit shortcomings. The penalties were announced on October 23 following an on-site inspection by RA officials.

The regulatory body levied a $52,000 (Dh190,970) fine against MCA Auditors, while the Audit Principal was fined $36,000 (Dh132,210). The investigation identified several deficiencies in an audit conducted by the firm for a company registered within the ADGM jurisdiction.

Key issues cited by the RA included insufficient risk assessment procedures and inadequate handling of fraud risk. Additionally, the audit was found to have failed in meeting group audit requirements and lacked effective communication with those charged with governance.

The Audit Principal was separately criticized for providing limited evidence of active involvement throughout the audit engagement, suggesting a lack of oversight expected at that level.

The RA’s findings underscore the regulator's efforts to ensure adherence to the ADGM’s Auditors Rules and maintain high standards of audit quality within its jurisdiction. MCA Auditors and its principal have been required to address the gaps identified during the inspection.

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