Owners Association/Strata Auditing Services Dubai, UAE
Owners’ Association & Strata Auditing in UAE
Owners Association is the organization of homeowners of a subdivision, condominium, or unit. Their job is to maintain and preserve the houses and properties given to them, managing and administering them on behalf of the owners.
They are the ones who readily provide services, impose fines, ensure security, enforce rules and regulations, and engage with authorities.
We are proud to serve as one of the leading auditors for Owners Associations in Dubai.
Our audit services are tailored to ensure full compliance with the rules, regulations, and requirements set by the Real Estate Regulatory Agency (RERA).
The scope of our audit work is designed to verify that the financial statements present a fair and accurate view of the Owners Association’s assets, liabilities, equity, financial position, and operational results.
All audits are conducted in line with accepted accounting principles and relevant UAE legislation.
Top Auditors for Owners Association in Dubai, UAE
With more than 35 years of experience under our belt, our excellent service extends to the Owners Association and Strata Auditing in Dubai.
We do not take lightly the compliance that we should all have with the rules of the land. We will make certain that all the requirements that are stated in the law are met by you.
Being one of the best auditors for the Owners Association in Dubai, we give value to our clients as we are also one of the top auditing firms in Dubai, taking care of project development audits for businessmen.
We ensure that you gain the benefits of an audit when working with us by letting us provide you with quality service.
The accountants who work with the auditors are also the ones handling the consultation and processing of VAT in the UAE that we offer.
These same people manage the needs of organizations when it comes to bookkeeping and accounting services, and our payroll and HR solutions that we offer for companies that need their HR duties to be handled.
We are also willing to provide you with more services that we offer, such as trademark registration in Dubai and its renewal, the winding-up of a firm or deregistration of a company when needed, and looking into documents and activities of your company to discover fraud, as we are a certified fraud examiner as well.
When we review your financial affairs, we make sure that all financial reports or records are materially correct to give you peace of mind. Our experienced Certified Public Accountants (CPA) will scrutinize your financial information to assure you that you can make decisions based on it.
We hold in high regard to always work cooperatively with our clients so they see and understand the process as well. To safeguard the accuracy, fairness, and completeness of the financial reports, we will work closely with the strata manager. Our specialists in this field will take their expertise and knowledge in accounting to another level to further assist our clients.
When we engage with you, the owners or strata managers who have a lot of responsibilities to face will not be reluctant to handle them since we can lessen or even eradicate the risks or errors. The legal matters that need to be dealt with will be taken from your hands.
All the records and documents that need to be organized will be our responsibility as well to ensure their accuracy and correctness.
We have been doing strata auditing in Dubai and as well as in the neighboring Emirates, and we have dealt with a lot of clients before, guiding them with the step-by-step process and aiding them with their Owners Association and strata needs.
With the use of strata auditing, we present our clients with detailed insights into business scenarios with affecting factors, and market trends.
What Are the Benefits of Strata Auditing?
- Compliance with RERA (Real Estate Regulation Authority) and Land Department rules and requirements.
- Legalization of company accounting books and financial statements.
- Annual audit report for the associations.
- Implementation of a company-accepted accounting system & internal controls.
- Accurate financial and accounting reporting.
Services Offered by Us for Strata Auditing & Owners’ Associations
We, Farhat & Co., offer a variety of services with our extensive experience and knowledge in this field. We conduct a revision/audit, which covers the following:
A. Revenue of the Owners Association
- Service charge amount received from Master Community, if any
- Service charges received from Building Administration, if any
- Other received amount and other revenues, if any
B. Expenses of the Owners Association
- Cleaning Contract
- Cradle Contract
- Generator Maintenance Contract
- Management Fees
- Pest Control
- Security Guard/Life Guard Contract
- Utility—Chilled Water
- Utility—Water and Sewerage
- Floral Contract
- Sundry Expenses
- Consultancy Fee
- Furniture and Fittings
- Club House Services
- Fire Protection Contract
- Lift Maintenance Contract
- MEP Contract
- Service Charge Master Community
- Swimming Pool
- Utility—Electricity
- Waste Management Contract
- General Repairs and Maintenance
- Insurance
- Bank Charges
- Painting and Surface Finishes
C. Financial Statements for the Owners Association
- Balance sheet, cash flow statements, sources, and usage of funds.
