MAGENTA FZE RFP: Statutory Financial Statement Audit | UAE | Apply by 19 October 2026
Overview
MAGENTA FZE is a commercial, for-profit Free Zone Establishment registered in the Umm Al Quwain Free Trade Zone in the United Arab Emirates. The organisation is inviting qualified and independent audit firms to submit proposals for a Statutory Financial Statement Audit for the financial year ending 31 December 2026. The completed audit will support the organisation’s trade licence renewal and its UAE Corporate Tax obligations under Federal Decree-Law No. 47 of 2022. MAGENTA anticipates awarding a fixed-fee contract with the possibility of renewing the agreement for a maximum of three option periods at its discretion.
Who can apply
This procurement opportunity is open to qualified and independent audit firms rather than individual jobseekers. Respondents must be approved by the Umm Al Quwain Free Trade Zone Authority and possess the required qualifications, professional capacity, and independence to perform the assignment. Experience with IFRS financial statements, ISA-compliant audits, UAE statutory requirements, and Free Zone entities is relevant to the engagement.
What you get
The selected audit firm will be awarded a fixed-fee contract to conduct the statutory financial statement audit. The engagement also includes a possibility of agreement renewal through up to three option periods at the organisation's discretion, potentially allowing the audit relationship to continue beyond the initial term.
Requirements
The audit must be conducted in accordance with International Standards on Auditing, and the financial statements must be prepared under International Financial Reporting Standards. Bidders must understand the relevant Free Zone requirements and statutory audit obligations before submitting their proposals. Every instruction and requirement in the Terms of Reference must be strictly followed, as failure to comply may result in a proposal being deemed non-responsive and the bidder disqualified.
How to apply
Interested firms must first review the complete Terms of Reference for eligibility criteria, proposal structure, page limits, formatting requirements, and submission instructions. Proposals must be submitted exclusively by email in PDF format to Raya@magenta-consulting.org. The email subject line must strictly follow the format of company name followed by hyphen and FY2026 Statutory Audit. Hard-copy submissions and applications through LinkedIn or Recruit CRM are not accepted. Clarification questions must be submitted by the designated deadline.
Key dates
The deadline for submitting clarification questions is 9 October 2026. The final deadline for proposal submissions is 19 October 2026 at 12:00 noon GMT+3. The anticipated project start date is 15 February 2027, and the deadline for issuing and submitting the final audit report is 15 April 2027.