Question 1

Is external audit mandatory for all companies in Dubai?

Accepted Answer

Yes, under UAE Federal Law No. 32 of 2021, all mainland companies must have their financial statements audited by a Ministry-approved auditor. Free zone companies also require audits based on their free zone regulations.

Question 2

How long does an audit typically take?

Accepted Answer

Standard external audits take 7-10 business days for small to medium companies. We also offer express service (3-5 days) for urgent requirements. The timeline depends on company size, complexity, and document readiness.

Question 3

What documents do I need to provide for an audit?

Accepted Answer

You'll need: trade license, financial statements, bank statements, invoices, expense receipts, payroll records, VAT returns, lease agreements, and loan documents. We provide a detailed checklist upon engagement.

Question 4

How much does an external audit cost in Dubai?

Accepted Answer

Audit fees start from AED 15,000 for small companies and vary based on revenue, complexity, and industry. Use our audit fee calculator for an instant estimate, or contact us for a detailed quote.

Question 5

Are you approved by the Ministry of Economy?

Accepted Answer

Yes, Farahat & Co is fully licensed and approved by the UAE Ministry of Economy. We are also recognized by DFSA, ADGM, and all major free zones including DMCC, DIFC, and JAFZA.

Question 6

Do you provide services in Arabic?

Accepted Answer

Yes, we have bilingual teams fluent in both English and Arabic. All our reports and communications can be provided in your preferred language.

Question 7

What is the deadline for submitting audited accounts?

Accepted Answer

Mainland companies must submit audited accounts within 9 months from financial year-end. Free zone requirements vary by jurisdiction. Late submissions may result in penalties.

Question 8

Can you help with RERA audit for property developers?

Accepted Answer

Absolutely! We specialize in RERA audits for real estate developers, property managers, and owners associations. We audit escrow accounts, service charges, and ensure full DLD compliance.

Question 9

What is the difference between audit firms and accounting firms in Dubai?

Accepted Answer

While many audit firms in Dubai also provide accounting services (like Farahat & Co), the key difference is that audit firms are licensed by the Ministry of Economy to provide statutory audit opinions on financial statements. Accounting firms handle bookkeeping, financial reporting, and advisory. Our firm offers both comprehensive audit and accounting services for UAE businesses.

Question 10

Do you provide accounting services along with audit services?

Accepted Answer

Yes, as one of the leading accounting and auditing firms in Dubai, we provide complete accounting services including bookkeeping, financial statement preparation, CFO services, tax advisory, and payroll alongside our specialized audit services. This allows clients to work with a single trusted partner for all financial needs across Dubai, Abu Dhabi, Sharjah, and all UAE free zones.

Question 11

Which free zones do your audit firms serve in Dubai?

Accepted Answer

Our auditing companies in Dubai are approved to serve all major free zones including DIFC, DMCC, JAFZA, Dubai Airport Free Zone, Dubai Silicon Oasis, Dubai South, RAKEZ, Sharjah Airport Free Zone, and more. We also serve Dubai mainland, Business Bay, Abu Dhabi, Sharjah, and businesses across all seven emirates with dedicated teams familiar with each jurisdiction's specific requirements.

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