
What about auditing business setup in Dubai?
Key Takeaways:
- Auditing requirements for a Business setup in Dubai vary significantly between mainland and free zone companies.
- Mainland companies (LLCs, PJSCs) are generally required to undergo annual statutory audits as per UAE Commercial Companies Law.
- Many free zones (including Meydan Free Zone in Dubai) also mandate annual audits, especially for license renewal.
- The introduction of Corporate Tax has made audited financial statements mandatory for “Qualifying Free Zone Persons” and taxable persons with annual revenues exceeding AED 50 million.
- Audits ensure financial transparency, regulatory compliance (including IFRS), and enhance business credibility.
Dubai’s vibrant economy and proactive approach to international business standards mean that establishing a Business setup in Dubai comes with specific regulatory expectations, particularly concerning financial transparency. Auditing plays a crucial role in this framework, ensuring that companies operate compliantly and maintain accurate financial records. While the extent of mandatory auditing can depend on various factors, understanding these …
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