Accounting, Financial Statements & Audit Support in Dubai
Year-end financial statements, management accounts and audit-ready books, with the audit coordinated with a licensed auditor.
Financial statements your tax return and your auditor can rely on
Bookkeeping records each transaction; accounting turns those records into statements. We prepare your year-end financial statements and, if you want them, management accounts during the year, so that the Corporate Tax return starts from accounts drawn up on a standard the rules accept.
The standard is set for Corporate Tax purposes: a taxable person “shall apply the International Financial Reporting Standards”, and one whose revenue does not exceed AED 50 million may use IFRS for SMEs instead (Ministerial Decision No. 114 of 2023, Article 4, Ministry of Finance, 9 May 2023). Which of these applies to your company is confirmed with you at quotation.
Where your company needs audited statements, the same books are made ready for the audit. We do not audit: an audit is carried out by a licensed auditor, and our part is the work before it and around it — audit-ready books and schedules, and the audit coordinated with a licensed auditor of your choice (audit support).
What we prepare
- Year-end financial statements: the statement of financial position, the income statement and the notes, prepared from your books
- Management accounts monthly or quarterly, if you want the figures during the year
- Year-end adjustments: accruals, prepayments, depreciation and closing entries
- The accounting basis checked against Ministerial Decision No. 114 of 2023
- Figures handed on to the Corporate Tax return and, where an audit applies, to the auditor
- Audit-ready books and schedules: fixed assets, receivables, payables, accruals and bank balances, prepared to the auditor's list
- Coordination with a licensed auditor of your choice, and the auditor's queries answered from the records
Get this quoted
Itemised in writing, government charges shown separately, before anything is filed.
Which one do you need?
Who needs it
- Companies that file Corporate Tax and need statements to file from
- Companies asked for accounts by a bank, a landlord or an investor
- Small businesses: a person may prepare financial statements on the cash basis "Where the Person derives Revenue that does not exceed AED 3,000,000" (Ministerial Decision No. 114 of 2023, Article 2)
- Companies that need audited statements for Corporate Tax: a taxable person outside a Tax Group that "derives Revenue exceeding AED 50,000,000", a Qualifying Free Zone Person, and a Tax Group (Ministerial Decision No. 84 of 2025, Article 2)
- Companies whose free zone, bank or shareholders require an audit for their own purposes
What we work from
- the year's books, or the bank statements and invoices to build them: Bookkeeping
- the opening balances or last year's statements
- fixed asset, loan and lease details
- the trade licence and the company's ownership details
- for an audit: statements and confirmations for every bank account, contracts and leases, and the auditor's request list once appointed
The final list is confirmed with you at quotation.
From the books to the statements
- The books checked for completeness at year-end.
- A written quote.
- Adjustments posted and agreed with you.
- Draft statements on the standard that applies.
- Your review, and management's approval.
- Final statements to you and to the Corporate Tax return.
- Where an audit applies: schedules to the auditor's list, fieldwork coordinated, and the audited statements filed with your tax records.
What the Corporate Tax rules say about the accounts
What Ministerial Decision No. 114 of 2023 sets (Ministry of Finance, dated 9 May 2023):
- "a Taxable Person shall apply the International Financial Reporting Standards" (Article 4(1))
- IFRS for SMEs is open to "a Taxable Person deriving Revenue that does not exceed AED 50,000,000" (Article 4(2))
- the cash basis may be used "Where the Person derives Revenue that does not exceed AED 3,000,000", or "In exceptional circumstances and pursuant to an application submitted by the Person to the Authority" (Article 2)
Ministerial Decision No. 84 of 2025 (Ministry of Finance, dated 25 March 2025), Article 2:
- a taxable person that is not a Tax Group and "derives Revenue exceeding AED 50,000,000"
- "A Qualifying Free Zone Person"
- a Tax Group "shall prepare and maintain audited special purpose financial statements"
- in force for "Tax Periods commencing on or after 1 January 2025" (Article 4)
The audit profession: "No natural or juristic person shall practice the profession in the State or render any of the services" without the licences the law sets (Federal Decree-Law No. 41 of 2023, Article 6(1)).
Fees: Quote on request. Our service fee is quoted in writing after a short review of your file, and any authority charge is listed separately in your quote.
Financial statements
The year is closed in your books first: accruals, prepayments, depreciation and anything posted late. The statements are then drafted, gone through with you and finalised, and the same figures go to the Corporate Tax return so the two never disagree.
The applicable standard
Ministerial Decision No. 114 of 2023 sets three tiers by revenue: IFRS as the rule, IFRS for SMEs up to AED 50 million, and the cash basis up to AED 3 million or, in exceptional circumstances, on application to the FTA. Your revenue decides which one applies, and it is checked before the draft.
Audit support
For Corporate Tax, three kinds of taxpayer need audited statements: a company outside a Tax Group with revenue over AED 50 million, a Qualifying Free Zone Person, and a Tax Group, for tax periods starting on or after 1 January 2025. An audit moves faster when every balance can be traced, so the year is closed in that state and the schedules are ready before the auditor arrives. The audit, and the opinion on the statements, belong to a licensed auditor whom you appoint; we coordinate dates, requests and queries, and we do not sign, certify or issue the report.
Not published officially
- A required layout for the statements. The decision sets the standard, not the format.
- A list of auditors for Corporate Tax purposes. Ministerial Decision No. 84 of 2025 says who must have audited statements, not which licensed auditor audits them.
- Any total. We do not add charges together; your quote lists each one.
Accounting and audit questions
How is accounting different from bookkeeping?
Bookkeeping records the transactions through the year (Bookkeeping); accounting closes the year and prepares the financial statements from them.
Which accounting standard must my company use?
For Corporate Tax purposes "a Taxable Person shall apply the International Financial Reporting Standards", with IFRS for SMEs open where revenue does not exceed AED 50 million (Ministerial Decision No. 114 of 2023, Article 4).
Can a small business use cash accounting?
Where revenue "does not exceed AED 3,000,000", the cash basis may be used (Article 2).
Do you prepare management accounts?
Yes, monthly or quarterly, agreed at quotation.
Do you carry out the audit yourselves?
No. We prepare audit-ready books and coordinate the audit with a licensed auditor; the audit and its report are the auditor's.
Who must have audited financial statements for Corporate Tax?
A taxable person outside a Tax Group with revenue over AED 50 million, a Qualifying Free Zone Person, and a Tax Group, which prepares audited special purpose statements (Ministerial Decision No. 84 of 2025, Article 2), for "Tax Periods commencing on or after 1 January 2025" (Article 4).
Who can carry out the audit?
Only someone licensed for the profession: no person "shall practice the profession in the State or render any of the services" without the licences the law requires (Federal Decree-Law No. 41 of 2023, Article 6(1)). You appoint the auditor; we coordinate with whoever you choose.
Can you prepare statements for past years?
Yes, from the books and bank statements for each year, before the return that needs them.
Is the Corporate Tax return prepared from these statements?
Who approves the statements?
The company's management approves them; we prepare them.
Every rule, deadline and threshold above names the authority that published it and the date shown on its page when we read it on 14 November 2026: the Federal Tax Authority (tax.gov.ae), the Ministry of Finance (mof.gov.ae) and the federal portal u.ae. Tax rules, fees and processing times are set by the authorities and can change without notice; confirm with the FTA before you rely on them. AL HUDHUD prepares and files on your instructions; your position is confirmed with you at quotation, and every decision rests with the Federal Tax Authority.
Last updated: November 2026.
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