Frequently Asked Questions

It depends on your company's legal structure and location. Mainland LLCs and most free zone entities are legally required to have an annual external audit under UAE Commercial Companies Law and the relevant free zone authority regulations. Sole establishments and civil companies may not be legally mandated, but banks, the Central Bank, and government entities routinely require audited financial statements regardless. We recommend all trading businesses obtain an annual audit — it is essential for bank financing, visa applications, and general credibility.

An external audit is conducted by an independent registered auditor (like our firm) and results in an auditor's report on your financial statements — used by banks, regulators, and investors. An internal audit is an ongoing, management-commissioned process that evaluates internal controls, operational efficiency, and risk management. Many businesses benefit from both: external audit for compliance and credibility, internal audit for continuous improvement. We provide both services.

For a small to medium-sized business with well-organized records, a standard external audit typically takes two to four weeks from fieldwork commencement to issuing the final signed report. Larger or more complex businesses — such as those with multiple entities, large inventory, or complex revenue structures — may require six to eight weeks. We always discuss and agree on timelines at the start of the engagement, and we work to accommodate any deadlines you have for bank submissions or regulatory filings.

At a minimum, you should have ready: your trial balance and management accounts for the period, bank statements and reconciliations, sales invoices and purchase invoices, payroll records, fixed asset register, VAT return filings, and copies of all significant contracts. Our team will provide a detailed document checklist at the start of each engagement. The more organized your records, the faster and more cost-effective your audit will be.

UAE Corporate Tax at 9% became effective for financial years starting on or after 1 June 2023. It applies to most mainland and free zone businesses with taxable income exceeding AED 375,000. The tax requires businesses to maintain IFRS-compliant financial records, file an annual corporate tax return with the FTA, and — for most businesses — obtain an audited set of financial statements. If your company did not previously require an audit, it likely does now. We advise on registration, taxable income determination, applicable exemptions (including Qualifying Free Zone Person status), and help ensure your financials are prepared in a tax-compliant manner.

Yes — virtually all UAE free zones (including DIFC, ADGM, JAFZA, RAKEZ, DMCC, and others) require their registered entities to submit annual audited financial statements to renew their trade license. Each free zone has its own deadline and submission requirements. Beyond the free zone mandate, UAE Corporate Tax obligations and banking requirements make an annual audit essential regardless. We have extensive experience with free zone audits and can manage the submission process directly with the relevant authority on your behalf.

UAE Cabinet Resolution No. 58 of 2020 requires all UAE companies (with some exceptions) to maintain a register of their ultimate beneficial owners — individuals who ultimately own or control 25% or more of the company — and to file this information with the relevant licensing authority. Companies must keep the register updated and notify the authority of any changes within 15 days. Non-compliance carries financial penalties and potential license suspension. We assist clients with initial UBO registration, annual updates, and maintaining compliant internal records.

Yes. Ali Al Mohairy Auditing is a licensed auditing firm registered with the UAE Ministry of Economy. Our auditors hold the required professional qualifications and registrations to sign audit reports in the UAE. Our certified accounts are accepted by the Central Bank of the UAE, all major UAE commercial banks, and international financial institutions. This is one of the most important credentials to verify before appointing any auditor in the UAE.

Absolutely. While our headquarters is in Abu Dhabi, we have offices in Dubai (Al Mankhool) and Sharjah (Nasseriya), and we serve clients across all seven emirates. Our team travels to client premises for fieldwork regardless of location, and we are experienced with the specific requirements of free zones and regulatory authorities across the UAE.

Our fees are fixed and agreed upon before the engagement begins — there are no surprise costs. The fee is based on the size and complexity of your business, the volume of transactions, the quality of your record-keeping, and the specific scope of work required. We provide a detailed engagement letter and fee proposal after an initial consultation. For ongoing clients, we offer annual retainer arrangements at preferential rates. Contact us to request a no-obligation quote.

Yes. In addition to audit services, we provide full VAT advisory — including registration with the Federal Tax Authority, preparation and review of quarterly VAT returns, VAT health checks, recoverability analysis, voluntary disclosure submissions, and representation in the event of an FTA audit or query. We also advise on excise tax and the interplay between VAT obligations and the new UAE Corporate Tax regime.