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Setting up an Audit Firm in Dubai

MEDIA / Articles / 2021 / Setting up an Audit Firm in Dubai
Audit firms and auditors in Dubai help companies getting audited every financial year, scrutinize a company’s internal controls existing systems and financial statements. It is very important for entrepreneurs to get their company accounts and records audited to that such records are in order and reliable.

Audit firms have the potential to detect and identify company’s inefficiencies, achieve organizational objectives and further reduction in its costs. Audit forms can investigate potential fraud or theft within the organization and ensure compliance with applicable regulations and policies within the company.

In order to set up an audit firm, the applicant must fulfill certain criteria in order to secure audit license in Dubai, UAE. The demand of qualified and approved auditors in Dubai is high and companies ensure that they protect their business and encourage smooth functioning.

In order to obtain an audit license in Dubai, it is important that the applicant must be qualified and hold a degree in accounting or identical field. The applicant is further required to pass an exam to become a licensed Tax Consultant.

Methods to obtain Audit License in Dubai:
  1. LLC Audit License in Dubai
One can opt to register a company with activity “Accounting & Bookkeeping” either in Dubai Mainland or one of the Economic Free Zones, while “Auditing of Accounts” requires a UAE national partner who should be duly registered with Ministry of Economy in case of a mainland company.
Expatriate can also become shareholder in the company along with UAE national, however, he/she must register with Ministry of economy.
The advantage of setting up an LLC office is offered by unmatched access to Dubai and UAE extensively.
  1. Freezone Audit License in Dubai
The activity ‘Accounting and Bookkeeping” is available in Dubai Free zones. Setting up a free zone company has its benefits such as 100% foreign ownership. Company established within the freezones can choose their own financial year, but the chose financial year must commence from the date of incorporation.

How can Freemont Oneworld Group Help you?

We at Freemont Oneworld Group offer our assistance and guidance to set up Audit Firm and are happy to provide obligation free consultation on this activity. Our  firm offers niche services to clients which include corporate and trust, global compliance, tax and legal, business advisory, financial advisory and family offices.

Do you wish to stay informed?

Thank you for your interest in Freemont Group, the specialists in company formation, asset protection and legal and advisory . Feel free to contact us with any inquiry you might have. We will provide you with a free initial consultation, and a customized solution for your personal situation.