Auditing involves a systematic review of financial records to ensure accuracy and legal compliance. Independent, certified audit firms can spot inaccuracies and provide the relevant authorities with reliable financial insights.
Thus, auditing is essential for businesses in the UAE to stay compliant with tax laws and maintain financial transparency.
Engaging the expert services of reputable Audit Firms in the UAE, such as Farahat Co, can make this process easier.
Professional auditors help businesses meet legal requirements, reduce regulatory risks, and boost trust with clients and partners, supporting long-term growth in the UAE’s fast-paced market.
A Certified Public Accountant in the UAE is a professional licensed by the UAE Ministry of Economy to practice accounting and auditing. To qualify, one must meet specific standards, including academic qualifications, professional experience, passing exams, and joining the Accountants and Auditors Association (AAA), the official UAE body recognized by the International Federation of Accountants (IFAC).
Certified Public Accountants in the UAE are licensed professionals allowed to conduct financial audits, prepare financial statements, and submit reports according to UAE laws and international standards.
The AAA, established in 1997, governs the profession, sets national accounting standards, and ensures compliance with global best practices.
Federal Decree-Law No. 41 of 2023 introduced notable measures, including:
Case Law: In a 2024 ruling by the Dubai Commercial Court, an audit report issued by an unlicensed firm was found invalid, violating Article 5 of the new law, which enforces corporate transparency.
These decisions strengthen regulatory oversight, ensure ongoing professional development (CPD), and facilitate the timely resolution of complaints.
Companies regulated by financial markets or those with limited liability must submit financial reports signed by a licensed CPA. At Farahat & Co., we provide certified financial statements and tax filings according to the latest international auditing standards, helping clients avoid legal and financial penalties.
Since the introduction of corporate tax in the UAE, CPAs have played a key role in preparing tax returns and ensuring compliance with the Federal Tax Authority requirements.
Example: A CPA must determine if a Dubai-based tech startup operating in a free zone qualifies as an “exempted entity” under corporate tax laws.
Ministerial Resolution No. 58 of 2020 requires CPAs to register with the Financial Intelligence Unit (FIU) and complete AML training, especially if they offer accounting or company formation services.
No. They must first obtain a UAECA fellowship and register with the Ministry of Economy.
Yes. Certified CPAs must report suspicious transactions and complete AML training while registering with the FIU.
Yes. CPAs need specific permits like the Public Audit Permit or the FI Audit Permit as per ADGM’s 2025 regulations.