RERA Approved Auditors
ADGM Approved Auditors
ADGM-approved auditors are financial professionals recognized by the Abu Dhabi Global Market (ADGM) Registration Authority. They hold the required qualifications and expertise to conduct accurate and reliable audits in line with International Financial Reporting Standards (IFRS) and ADGM-specific regulations.
Certified auditors ensure strict compliance with financial reporting mandates, protecting businesses from the risk of heavy penalties and regulatory issues.
Quick Digits is a certified ADGM audit firm. Our expert team delivers comprehensive audit services that not only meet all ADGM requirements but also support your business growth and strengthen your financial credibility within the Free Zone.
Rules & Regulations By RERA For Audit
Key Rules and Regulations for Real Estate Audits under RERA Dubai
Monitoring & Supervision By RERA
According to Article 5 of the regulations, RERA holds the authority to monitor and supervise the activities of real estate developers and Owners Associations. This includes the right to review their financial records and audit their books of accounts to ensure full compliance with RERA’s standards and regulations.
Certified Financial Statements For Escrow
As per Article 6 of the regulations, real estate developers are required to submit certified financial statements outlining the project’s estimated costs and revenues. These documents are mandatory when opening an escrow account, ensuring transparency and accountability in project financing.
Audit That Fits Your Business Needs
Audit Solutions for Real Estate Businesses
Real estate businesses in Dubai are subject to specialized audit requirements to ensure compliance with RERA regulations and maintain financial transparency. Depending on the nature of operations, the following types of audits may be required:
Escrow Account Audits
An escrow account audit verifies that developers manage project funds with full transparency and accountability. As mandated by RERA, all developers are required to maintain escrow accounts to protect buyers’ payments and ensure that funds are utilized strictly for the completion of the project.
RERA Compliance Audits
Compliance audits ensure that real estate companies strictly adhere to RERA’s laws and regulations. These audits involve a thorough review of financial records, operational processes, and supporting documentation to confirm full regulatory compliance.
Financial Audits
Financial audits evaluate the accuracy and reliability of a company’s financial statements. They help identify potential risks, detect discrepancies, and ensure fiscal responsibility in line with regulatory requirements.
Forensic Audits
Forensic audits are conducted to investigate suspected fraudulent activities within a real estate business. These audits provide detailed financial insights and evidence that can be used in legal proceedings, ensuring accountability and protecting stakeholders’ interests.
How We Do Audits for Real Estate Businesses
At Quick Digits, we follow a structured step-by-step process designed to meet the specific requirements of real estate audits in Dubai, ensuring accuracy, transparency, and full compliance with RERA regulations.
1. Initial Consultation
In the first step, Quick Digits works with you to define clear audit objectives and develop a customized audit plan tailored to your business needs. Our team ensures that your concerns are fully understood and addressed from the very beginning, setting the foundation for a smooth and effective audit process.
2. Document Collection
In the second step, our experts at Quick Digits guide you in gathering all the required documents efficiently. We streamline the process to make it simple and hassle-free, ensuring it fully meets your specific business needs.
3. Audit Execution
In the third step, our team at Quick Digits conducts a thorough analysis of your financial records using advanced tools and techniques. We ensure that every financial detail is accurate and compliant, while keeping you informed at each stage by communicating our findings clearly and transparently.
4. Compliance Check
In the fourth step, Quick Digits identifies any compliance gaps and provides practical solutions to address them in line with RERA regulations. Our team helps implement corrective measures that safeguard your business operations and ensure full regulatory compliance.
5. Reporting and Recommendations
In the final step, Quick Digits delivers a comprehensive audit report with all essential findings, compliance checks, and actionable recommendations to enhance your operational efficiency. Our support extends beyond the audit, as we assist you in implementing the suggested improvements to strengthen your business for long-term success.
Why You Should Hire a RERA-Approved Auditing Firm
Hiring a RERA-approved auditing firm is essential for real estate businesses in Dubai to maintain compliance, transparency, and financial credibility. The following reasons highlight why certified auditors are necessary for your audit requirements:
Certified auditors possess in-depth knowledge of Dubai’s real estate laws and RERA regulations, ensuring precise compliance.
Non-compliance with RERA regulations can result in hefty fines or even license suspension. Approved auditors help safeguard your business from these risks.
Hiring a RERA-approved auditor demonstrates your dedication to transparency, accountability, and ethical business practices.
Authorized auditors provide detailed reports that identify discrepancies and recommend improvements, helping companies streamline operations.
Documents Required to Conduct Audit in RERA
Real estate companies in Dubai must prepare and submit specific documents to comply with RERA’s audit requirements. These include:
- Financial Statements related to the property or project
- Records of All Monetary Transactions, including receipts and invoices
- Escrow Account Details and transaction logs
- Sales and Purchase Agreements
- Property Registration Documents
- Contracts with Contractors and Suppliers
- Letters of Authority and Valid Licenses
Providing complete and accurate documentation ensures a smooth audit process and helps maintain full compliance with RERA regulations.
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FAQ
Is a Tax Consultant Necessary in Dubai?
With Dubai’s evolving legal and financial landscape, it has become essential for businesses of all sizes to engage a professional tax consultant. Their expertise helps resolve complex tax matters while ensuring full compliance with Dubai’s regulations.
How Do Businesses Pay Taxes in the UAE?
Since June 1, 2023, the UAE has applied a 9% corporate tax on net profits exceeding AED 375,000. Profits below this threshold are taxed at 0%. In addition, businesses must register for VAT if their taxable supplies exceed the mandatory registration threshold of AED 375,000.
What If I Miss a Tax Deadline?
According to Cabinet Decision No. 75 of 2023 and Ministerial Decision No. 74 of 2023, the UAE Federal Tax Authority imposes a fine of AED 10,000 for late corporate tax registration. Continued delays can result in additional penalties, starting from AED 500 per month and rising up to AED 5,000 per month depending on the length of the delay.
What are your tax consultancy fees?
Our tax consultancy services in Dubai start from AED 500 and can go up to AED 20,000, based on the scope and complexity of your requirements.
Can you help with Free Zone company tax compliance?
At Quick Digits, our tax experts assist Free Zone companies with complete tax compliance, including corporate tax registration, filings, and exemption assessments. We ensure your business meets all FTA requirements accurately and on time, covering major Free Zones such as DMCC, IFZA, MEYDAN, SHAMS, and RAKEZ.