Strata Auditing Services Dubai
MOE (Ministry Of Economy) Approved Auditors
Owners’ Association & Strata Auditing Dubai, UAE
Farahat & Co. provides specialist audit services for Owners Associations and strata entities in Dubai. Our work is fully aligned with Real Estate Regulatory Agency (RERA) requirements — verifying that financial statements accurately reflect the association’s assets, liabilities, equity, and operational results in line with UAE legislation and accepted accounting principles.
✦ RERA Compliant Audit Services
✦ Ministry of Economy Approved
✦ Approved Across 20+ Free Zones
✦ 40+ Years of Experience
✦ 30,000+ Clients Served
Why Choose Farahat & Co. for Owners Association Audits?
With over 40 years of experience, Farahat & Co. provides strata and Owners Association audit services across Dubai and the wider UAE. Our team works closely with Owners Associations and property managers to maintain transparent financial records, review service charges, and ensure all statutory requirements are met.
Our Certified Public Accountants verify financial statements, identify discrepancies, and confirm that all records are accurate, complete, and compliant with applicable UAE laws and RERA requirements. Beyond compliance, our work gives associations and their members greater confidence in the accuracy of their financials and the integrity of how funds are managed.
We support clients through every stage of the audit process from initial review to final reporting providing structured findings and practical recommendations that help reduce risk and improve financial transparency.
What Are the Benefits of Strata Auditing?
A professional strata audit does more than satisfy a regulatory requirement. For Owners Associations in Dubai, it provides a structured foundation for sound financial management and long-term accountability.
Key benefits include:
- Regulatory compliance — ensuring full alignment with RERA and Dubai Land Department requirements
- Verified financial records — accounting books and financial statements that are accurate, complete, and legally recognised
- Annual audit report — a formal, independent report for the association and its members
- Stronger internal controls — implementation of an accepted accounting system with clear oversight mechanisms
- Reliable financial reporting — accurate records that support transparent decision-making for management and owners
Services Offered by Us for Strata Auditing & Owners’ Associations
We, Farahat & 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.
Feedback From People We’ve Worked With
Faqs
What is a strata or Owners Association audit in Dubai?
A strata or Owners Association audit is an independent review of the association’s financial records, service charges, operational expenses, and related accounting documents. The purpose is to verify that all funds are properly managed, accurately recorded, and reported in line with RERA regulations and applicable UAE requirements.
Is strata auditing mandatory in Dubai?
Yes. Owners Associations and jointly owned property entities in Dubai are generally required to maintain audited financial statements under regulations governing shared buildings. Annual audits are a key part of maintaining proper governance, RERA compliance, and financial accountability to property owners.
What is the difference between a strata audit and an Owners Association audit?
There is no material difference. Both terms refer to the audit of financial records for jointly owned properties or homeowners’ associations. The terminology used may vary depending on the managing authority or context.
What does RERA audit compliance mean?
RERA audit compliance means meeting the financial reporting and audit standards set by the Real Estate Regulatory Authority for Owners Associations and jointly owned properties in Dubai. This includes maintaining accurate records, conducting annual audits, and submitting reports in the required format.
WWhat does a strata audit cover?
A strata audit covers service charge income, operational expenses, contracts, bank records, and financial statements. It confirms that all transactions are properly recorded and that the financial reports reflect the true financial position of the association.
Who is responsible for conducting an Owners Association audit?
The audit must be conducted by an independent, licensed audit firm approved to operate in the UAE. The auditors review financial records and issue an official audit report for regulatory and governance purposes.
How often should an Owners Association be audited?
Owners Associations are typically required to conduct audits on an annual basis. Regular audits support ongoing RERA compliance, improve financial transparency, and provide property owners with confidence in how funds are managed.
What documents are required for a strata audit?
Standard documentation includes financial statements, service charge records, bank statements, contracts, invoices, expense reports, and supporting accounting records. The exact requirements may vary depending on the size and structure of the association.
What are the benefits of strata auditing for Owners Associations?
A strata audit ensures compliance with RERA regulations, strengthens financial transparency, detects discrepancies and control weaknesses, and builds trust among property owners and stakeholders. It also provides management with a clear and verified view of the association’s financial position.
How long does a strata audit take in Dubai?
The timeline depends on the size and complexity of the association and the quality of the documentation provided. Most audits are completed within two to six weeks.