There's no single flat rate for a statutory audit in Oman — fees vary based on several concrete factors. Understanding them helps you budget accurately and spot quotes that seem too good to be true.
1. Company Size and Transaction Volume
The single biggest driver of audit cost is how many transactions the audit team needs to test. A company with a handful of monthly invoices costs far less to audit than one processing thousands of transactions across multiple bank accounts and currencies.
2. Industry Complexity
Construction and contracting companies require testing of percentage-of-completion revenue recognition and work-in-progress valuations — both time-intensive. Trading companies require inventory verification and import documentation review. Simpler service businesses generally cost less to audit.
3. Number of Entities or Branches
If your business has subsidiaries, branches, or related-party transactions that need to be consolidated or separately verified, expect a higher fee than a single standalone entity.
4. Quality of Your Bookkeeping
Clean, well-organised accounting records with monthly reconciliations reduce the hours auditors need to spend and can lower your fee. Disorganised records — missing invoices, unreconciled accounts — increase audit time and cost.
5. Whether It's Your First Audit
First-year audits typically take longer because the auditor has no prior-year working papers to reference and needs to build understanding of your systems and controls from scratch.
Getting an Accurate Quote
Because of these variables, reliable audit firms quote after reviewing your prior financial statements and understanding your business — not off a generic price list. Al Qabas provides fixed-fee quotes following a free consultation, so you know the full cost before engagement begins.
Get a free consultation and a fixed-fee audit quote tailored to your business.
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