The short answer
Under UAE corporate tax rules (Ministerial Decision 84 of 2025), audited financial statements are required for companies with revenue above AED 50 million, for every Qualifying Free Zone Person (to keep the 0% rate) and for tax groups. Some Free Zones, banks and investors also ask for audited accounts. We are not auditors: we prepare your books and financial statements, and an independent partner audit firm carries out and signs the audit.
Who needs audited financial statements
| Company | Audit needed? |
|---|---|
| Revenue above AED 50 million | Yes, for corporate tax |
| Qualifying Free Zone Person (0% rate) | Yes, whatever its revenue |
| Member of a tax group | Yes: tax groups prepare audited special-purpose statements |
| Other companies | Not for corporate tax, but your Free Zone, bank or investors may ask |
The decision applies to tax periods starting on or after 1 January 2025 and replaced the earlier Ministerial Decision 82 of 2023.
Free Zone companies and the 0% rate
A Free Zone company pays 0% corporate tax on qualifying income only if it is a Qualifying Free Zone Person and meets every condition, including real substance in the UAE and audited financial statements. Without the audit, it can lose the 0% rate. Read the conditions in our corporate tax guide.
How the audit works with us
- Books closed. We close the year and reconcile every account.
- Financial statements prepared: balance sheet, profit and loss, notes.
- Audit by our partner firm. They review the statements and ask their questions; we answer most of them for you.
- Adjustments, if the auditor proposes any, agreed with you.
- Signed audited statements for your tax return, Free Zone or bank.
Being audit-ready
Audits go fast when the books are clean all year. That means:
- Every bank account and currency reconciled every month
- An invoice or receipt for every transaction
- Signed contracts for major sales, loans and assets
- Shareholder transactions recorded properly
- VAT returns that match the books
That is exactly what our monthly bookkeeping delivers.
What auditors usually ask for
| Area | Typical evidence |
|---|---|
| Cash and bank | Year-end bank statements and confirmations for every account |
| Revenue | Sales invoices, contracts, proof of delivery or service |
| Expenses | Supplier invoices, receipts, payroll records |
| Receivables and payables | Aged lists, confirmations, payments after year end |
| Assets | Purchase invoices, depreciation schedule |
| Equity and loans | Share capital, shareholder and related-party loans, agreements |
| Tax | VAT returns and corporate tax registration |
With monthly books, most of this is already in our files, which is why the audit takes weeks instead of months.
Free Zones and auditors
Some Free Zones ask for financial statements or audited accounts at licence renewal, and some only accept auditors registered with them. We check what your Free Zone requires and make sure the partner audit firm is accepted before the work starts.
How the audit fits with your tax return and renewal
- Monthly books all year.
- Year-end close and financial statements.
- Audit by the partner firm, where needed.
- Corporate tax return prepared from the audited figures, sent to you for approval, filed within 9 months of year end.
- Licence renewal and bank reviews supported with the signed statements.
Timeline
For a 31 December year end, we close the books in January and February, the audit runs in the following weeks, and the corporate tax return is filed by 30 September. Starting early leaves room if your Free Zone or bank needs the statements sooner.
How we help
One team for your books, statements and tax return, with an independent auditor alongside. The audit fee is set by the partner firm and depends on the size and complexity of your company; we confirm the full picture on a free call. Audited accounts are coordinated as part of our accounting services.