How to Get an Audit License in UAE? 

For the past many years, the United Arab Emirates has successfully positioned itself as a global business hub, serving as a base for thousands of companies. With new businesses emerging and established ones growing, financial transparency and accountability become fundamental, creating a dire need for professional auditing services and solutions. However, the UAE has strict regulations when it comes to practicing auditing, such as obtaining an audit license in UAE. 

Professionals or companies need to meet certain requirements to get their hands on an audit license compliantly. This blog post will provide you with an overview of how to get an audit license in Dubai, what the key requirements and eligibility criteria are, and what benefits it can bring to a business. 

What is an Audit License in UAE? 

Auditing refers to a systematic analysis of financial records and other documents performed by professional auditors to verify their accuracy and compliance with applicable laws and regulations. However, the auditors require legal permission or authorization, an audit license, from the respective regulatory body to conduct audits lawfully. 

In the UAE, the audit license is issued by the Ministry of Economy (MoE). The specific requirements for this permit vary depending on the jurisdiction. However, the general requirements include: 

• A bachelor’s degree in a related field, such as accounting, finance, mathematics, etc. 
• A master’s degree in accounting/business administration with a major in accounting. 
• Clear the exams in international financial reporting standards (IFRS), international standards in auditing (ISAs), and UAE tax and regulation 
• At least 5 years’ experience in auditing.
• Certificate for practicing from a recognized professional body.
• Certificate of equivalency. 

What is the eligibility criteria for getting an Audit License in UAE?

The UAE has enforced strict eligibility criteria for auditors applying for an audit license in Dubai. It emphasizes having qualified, experienced, and certified professionals to maintain high standards and the integrity of the business environment in the auditing industry. 

1. Educational Qualifications

A bachelor’s degree in accounting, finance, business, or a similar field is required to apply for an audit license in UAE. However, advanced academic qualifications such as a master’s in finance or an MBA can enhance credibility and bypass the experience requirements. A PhD in finance or accounting can further curtail the work experience duration. 

2. Work Experience

The work experience requirement is based on the highest level of academic qualification related to the core areas of auditing, such as financial statement preparation, tax audit services, risk management, and internal control evaluations. 

• For bachelor’s degree holders: At least 3 years of practical experience in auditing, documented in the form of official employment letters, covering all relevant aspects of auditing practices. 
• For master’s degree holders: 2 years of work experience. 
• For PhD holders: 1 year of work experience. 

3. Professional Certifications 

Internationally recognized professional audit certifications validate the applicant’s skills and help build credibility with both clients and regulatory authorities.

• Certified Public Accountant (CPA): Globally recognised certification that allows auditors to perform audits for businesses. 
• Association of Chartered Certified Accountants (ACCA): UK-based qualification providing auditors with in-depth knowledge of accounting and auditing principles. 
• Chartered Accountant (CA): A highly respected certification, issued by various bodies like the ICAI (Institute of Chartered Accountants of India). 
• Certified Internal Auditor (CIA): Specifically focuses on the internal audit field and services such as internal controls and compliance auditing. 

Applicants are required to clear an exam that assesses their knowledge of the UAE’s auditing regulations, International Standards on Auditing (ISA), International Financial Reporting Standards (IFRS), and the UAE Commercial Companies Law. This exam is overseen and approved by the Ministry of Economy. 

Audit License in UAE: Mainland vs Freezone

When applying for an audit license in Dubai, you need to choose between the mainland and a free zone to determine the scope, costs, and regulatory obligations of the business. 

• Mainland – The Department of Economic Development (DED) of the relevant emirate handles licenses for businesses based in the UAE, permitting them to provide auditing services throughout the UAE and make business deals with government clients. Mainland license is an ideal option for those targeting large-scale operations and intending to work outside the restrictions of specific zones. 
• Free Zone – On the other hand, Free Zone licenses are ideal for startups or individuals, as they come with easier registration processes, lower operational costs, and favourable tax benefits. However, the major drawback of registering in this jurisdiction is a limited client base, as it is restricted to offering services within the zone unless the business acquires additional approvals. 

Additionally, mainland licenses are more expensive due to higher office and operational costs, compared to free zone licenses. Nevertheless, mainland companies are subject to stricter regulations, which involve more paperwork and approvals from various authorities. 

Types of services covered under an Audit License in UAE

Before diving into how to get an audit license in Dubai, it is important to understand the types of services that you can provide under this license. 

• Financial Audits: Evaluation of the company’s financial statements to ensure accuracy and compliance with accounting standards. 
• Internal Audits: Assessment of internal controls, processes, and systems of the organization to identify potential risks and inadequacies. 
• Forensic Audits: Analysis of financial discrepancies or fraudulent activities within the company. 
• Compliance Audits: Ensuring the company’s compliance with local regulations, including tax laws and industry-specific standards. 
• Operational Audits: Evaluation of the company’s operations and procedures to enhance its efficiency and value. 

How to get Audit License in UAE: steps to obtain a license 

Several key steps are involved in starting an audit firm and getting an audit license in UAE. Following the proper procedure ensures legal compliance and operational readiness :

Step 1: Choose an appropriate business structure

The first step is selecting an appropriate business structure from the available options. The most common ones include: 

• Sole Proprietorship: Suitable for a single auditor who has the required qualifications and experience. 
• Civil Company: Requires two or more individuals to form a company, where at least one partner holds a valid license. 
• Limited Liability Company (LLC): Suitable for firms with multiple partners. The company appoints an auditor who holds a valid license for practising audit in the UAE. 

Step 2: Meet the eligibility criteria

Applicants are required to meet specific eligibility requirements of the authorities, depending on the emirate and license they are applying for. The criteria include: 

• Educational Qualifications: A degree in accounting, finance, or a related field from a recognized institution. 
• Professional Certification: A recognized professional certification such as ACCA, CPA, CA, or CMA. 
• Experience: A minimum number of years of experience in auditing or accounting, ranging from 3 to 5 years. 
• Good Standing: No criminal record related to financial crimes. 

Step 3: Register the business

Once you confirm your eligibility, register the company with the relevant authorities with the following paperwork: 

• A completed application form 
• Passport Copies of all shareholders and partners 
• Certified copies of academic and professional qualifications 
• Letters from previous employers confirming work experience in auditing. 
• A detailed business plan outlining the services, target market, and financial projections of the firm.

After submitting the documents, receive an initial approval from the authorities as permission to proceed with the license application process. 

Step 4: Obtain Professional Certification from the Ministry of Economy

The business owners also need to obtain professional certification from the Ministry of Economy in the UAE, confirming that the firm meets the required standards and is eligible to provide auditing services. Submit the following documents to get a professional certification: 

• A completed application form provided by the Ministry of Economy 
• Certified educational and professional certificates 
• Experience certificates in auditing 
• A good conduct certificate from the police confirming a clean criminal record 
• Document confirming the registration of the company with the DED 

Once the authorities approve the application, they will issue a professional certification allowing the business to offer auditing services in the UAE.

Step 5: Apply for the Audit License 

Finally, proceed with applying for the audit license with the relevant licensing authority in the emirate where the company is registered. 

Submit the following documents to the DED: 

• Trade Name Approval 
• Initial Approval 
• Professional Certification from the Ministry of Economy 
• Office Lease Agreement 
• Professional indemnity insurance for the firm 

The authorities will review the application and issue the audit license accordingly. 

Please note, as a part of starting an auditing firm in the UAE, you will also need to finalize an office space that meets regulatory requirements. Additionally, you will need to open a corporate bank account to manage the business transactions. In case of any further assistance, please Contact Us
and reach our business setup experts at Dubiz

Key documents required for Auditing License in UAE

The following documents are generally required for obtaining an audit license in UAE: 

• Passport copy and Emirates ID 
• Academic certificates 
• Professional audit certifications 
• Work experience 
• No Objection Certificate 
• Office lease agreement 
• License application 
• Approvals from the Ministry of Economy 

Make sure all documents are attested and translated into Arabic. 

Cost of obtaining an Audit License in UAE 

The overall cost of an audit license in Dubai ranges around AED 31,770, which includes several fees: 

• Initial approval – AED 235 
• Trade name approval – AED 735 
• MOA – AED 800 
• Office – AED 4300 
• External approval (MoE) – AED 8,000 (approx.) 
• Estimated license fee – AED 12,500 (inclusive of other charges) 
• Dubiz service & PRO– AED 5100 
• Company stamp – AED 100 

If you are thinking of starting an audit company in the UAE, we highly recommend getting in touch with the consultants at Dubiz to get a complete cost breakdown. 

New rules for Audit License in UAE

Ministerial Resolution No. 111-2 of 2022, issued by the Ministry of Economy (MoE) defines the new audit license rules for audit firms in the UAE. These rules aim to improve the quality of auditing and raise the standards of qualification and experience for auditors, thus strengthening the governing framework for auditing firms in the UAE. 

The key changes include: 

• A bachelor’s degree in accounting, finance, or a related field is a must for auditors. Moreover, they must clear the mandatory exams in international financial reporting standards (IFRS), international standards in auditing (ISAs), and UAE tax and regulations. 
• At least three years of auditing practice is required, along with a valid practicing certificate from a recognized professional body. 
• A minimum of two partners can form an audit firm in the UAE, where each partner must have at least five years of auditing experience. 
• Audit firms must keep a risk management framework in place. 
• The MoE holds the power to enforce new rules and to suspend or revoke audit licenses. 

Conclusion

Thus, the UAE is an attractive market for auditors that combines rapid economic development, regulatory advancements, and strategic national visions to ensure financial integrity and governance.  

Hence, securing an audit license in UAE can be a valuable step for finance professionals looking to gain a foothold in this fastest-growing business environment. With careful planning, attention to key details, and compliance with audit standards, you can ensure success for your audit company. 

Get your UAE Audit License with Dubiz

With the expert assistance of Dubiz advisors, you can leverage the growing demand for auditing services in the UAE. We offer comprehensive services to help you navigate the documentation, certification, licensing, and business registration process with maximum ease and efficiency. 

• 8+ years of experience in company formation 
• 50+ team of certified professionals 
• End to end services under single roof 
• Fast and transparent processes 

Get in touch with Dubiz experts today. 

📞 Call: +971 56 369 5485
💬 WhatsApp: +971563695485
📧 Email: info@dubiz.co

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