With the UAE’s diverse economy and strategic location, the region is attracting a wave of international companies eager to capitalise on its potential. However, as businesses flourish, so does the need for robust financial oversight. Driven by a combination of regulatory compliance and a push for transparency, the demand for auditing services in the UAE is growing. Companies are increasingly recognising that accurate financial reporting is essential for building credibility with investors, clients, and partners. So, it’s safe to say – this is not just a passing trend; the accounting and auditing services market is projected to expand at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028. For entrepreneurs eyeing this sector, the financial prospects are promising.
Therefore, if you’re looking to set up an account auditing firm in the UAE, here’s one of many business activities that you can select under your license:
6920.03 – Examination of Accounts And Certification of Their Accuracy
This business activity directly involves a systematic review of financial statements to ensure compliance with accounting standards and legal regulations. This essential service includes audits, compliance assessments, and certifications, all designed to affirm the accuracy and reliability of a company’s financial information. As businesses face increasing scrutiny, the need for qualified auditors is rising, indicating significant growth potential in this industry.
Notable examples in this field include KPMG and Deloitte, both recognised leaders in the UAE’s auditing landscape. KPMG has built a strong reputation by offering tailored solutions that meet the unique needs of various industries. Meanwhile, Deloitte leverages technology to enhance its auditing processes, delivering valuable insights to clients. These firms exemplify the opportunities available in the sector and inspire emerging auditors looking to establish their presence.
| Note: Exclusions related to this class include data-processing and tabulation activities, management consultancy activities, such as design of accounting systems, cost accounting programmes, budgetary control procedures, and bill collection. These exclusions are distinct from the account auditing services provided within this class. |
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 6920.03 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6920.03 is exempt from this requirement.
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