FAQ — UAE Audit, Tax & Compliance

Question 1

Which UAE audit firms are ADGM and DIFC approved?

Accepted Answer

Bin Ghannam holds ADGM Approved Auditor status (granted July 2024) and is a DIFC Approved Auditor and Liquidator — one of a small number of firms in the UAE to hold both approvals simultaneously. We are also approved across JAFZA, DAFZA, DMCC, RAKEZ, DSOA and the mainland.

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Question 2

Who are Bin Ghannam's partners?

Accepted Answer

Abdulla Bin Ghannam (25 years), Sarfraz Khanani FCA ACMA (35 years, ex-KPMG, Fellow of ICAP) and Muhammad Zahid Aziz CPA (35 years) — 90+ years' combined experience. Senior partners deliver the work; not juniors. ACCA Gold Employer Ref. 27199690.

Question 3

Can one firm handle audit, tax and company formation in the UAE?

Accepted Answer

Yes. Bin Ghannam covers company formation, monthly bookkeeping, statutory audit, UAE corporate tax (9% regime), M&A due diligence and outsourced CFO under one approved firm. Clients add services as they grow — no firm changes at each stage.

Question 4

Which major UAE entities does Bin Ghannam serve?

Accepted Answer

Authorised audit service provider for EMAAR Malls. Clients include Mubadala, Johnson & Johnson, Cravia Group and Al Khaja Group — 1,000+ entities served since 2015. AED 3M professional indemnity insurance. Associated with the UAE Ministry of Economy.

Question 5

How quickly do you respond to a new enquiry?

Accepted Answer

A senior team member — not a chatbot — responds on WhatsApp within 5 minutes, weekdays and weekends. Within 24 hours we have a clear picture of your entity, your compliance calendar and the right scope.

Question 6

Do I have to change my accounting software?

Accepted Answer

No. We work across QuickBooks, Zoho, Xero, SAP, Sage, Oracle and Busy. Your books stay on the system your business already uses.

Question 7

Where are Bin Ghannam's offices?

Accepted Answer

Dubai (HQ, Latifa Tower, World Trade Centre), Abu Dhabi (Al Maqam Tower, ADGM Square, Al Maryah Island) and Sharjah (Hamriyah Free Zone). We are also registered as auditors in Labuan, Malaysia, and have a UK branch.

Question 8

When is the UAE e-invoicing ASP deadline?

Accepted Answer

30 October 2026 is the deadline to appoint an Accredited Service Provider (ASP) under the UAE FTA e-invoicing mandate. We help you understand your obligations, select the right ASP and prepare your systems — and offer our own Bin Ghannam Native e-invoicing software.

Question 9

Do I need to disclose downward transfer pricing adjustments?

Accepted Answer

Yes. Under FTA Public Clarification CTP011, every downward transfer pricing adjustment must be disclosed in your Corporate Tax Return regardless of value, supported by documentation including an arm's length benchmarking analysis and a reconciliation to your financial statements. No prior FTA approval is required — the regime is self-assessment.

Question 10

Do you serve all Abu Dhabi free zones?

Accepted Answer

Yes. We serve entities across ADGM, KEZAD, Masdar City, twofour54 and Abu Dhabi Airport Free Zone (ADAFZ), as well as Abu Dhabi mainland — with ADGM Approved Auditor status for ADGM-registered entities.

Question 11

Do you have a package for startups?

Accepted Answer

Yes. Our Startup Package covers up to 100 transactions free for your first six months, then scales into full accounting, tax and audit with the same firm.

Question 12

My company is small — does it still need an audit in the UAE?

Accepted Answer

It depends on your licence, not your size. Free-zone entities in ADGM, DIFC, DMCC, JAFZA, DAFZA and several others must file audited financial statements every year regardless of revenue, and mainland companies increasingly need audited accounts for licence renewal, bank facilities and tenders. Even where audit is not mandatory, corporate tax makes clean, IFRS-ready books non-negotiable.

Question 13

What does it cost to move from a bookkeeper to a full compliance firm?

Accepted Answer

We quote a fixed scope before work begins, priced on transaction volume, number of entities and the filings you actually need — not on hours. Most owner-managed businesses bundle bookkeeping, VAT returns, corporate tax filing and the statutory audit into one annual fee so there are no surprise invoices at year-end.

Question 14

My books are behind. Can you catch up several years of accounts?

Accepted Answer

Yes. Backlog clean-up is routine work for us: we rebuild the ledgers from bank statements and source documents, reconcile VAT positions, quantify exposure from late or missed filings, and get you to an auditable set of accounts before approaching the FTA on voluntary disclosures where needed.

Question 15

Can you handle both my company and my personal/PRO paperwork?

Accepted Answer

Yes. Alongside accounting, tax and audit we run PRO services — licence renewals, immigration and labour files, Emirates ID and visa processing — plus WPS payroll and bank account opening support, so the owner deals with one point of contact instead of four vendors.

Question 16

Can you audit a group with multiple entities and free-zone licences?

Accepted Answer

Yes. We handle consolidated group audits under IFRS across mixed mainland, free-zone, ADGM and offshore structures, including intercompany eliminations, foreign-currency translation and one aligned reporting calendar so every entity files on time in its own jurisdiction.

Question 17

We are a DFSA or FSRA regulated financial firm — what can you do for us?

Accepted Answer

For regulated financial services firms and public interest entities we do not sign the statutory audit. We provide tax, transfer pricing, AML/CFT programmes, independent AML audit, internal audit, IT general-controls review, and outsourced MLRO, Compliance Officer and CFO roles. Audit sign-off in ADGM and DIFC is for non-financial entities.

Question 18

Do you support ICV certification and government tendering?

Accepted Answer

Yes. We prepare and certify In-Country Value (ICV) submissions under the National ICV Programme, reconcile the ICV template to audited financial statements, and advise on the cost decisions — local supplier spend, Emiratisation, investment — that move your score before the audited year closes.

Question 19

Can you work alongside our in-house finance team and internal auditors?

Accepted Answer

Yes. Most enterprise engagements are co-sourced: your team keeps ownership of the ledger and controls while we deliver statutory audit, transfer pricing files, internal audit sprints, MIS/board reporting or a technical second opinion. Roles and independence boundaries are set out in the engagement letter.

Question 20

How do you handle due diligence on an acquisition under time pressure?

Accepted Answer

A partner-led team runs financial, tax and operational due diligence with a defined data-room request list, weekly findings calls and a red-flag report before the full deliverable — so you can price, renegotiate or walk away early. We also model post-deal tax structuring and group consolidation impacts.

Question 21

Do you work with family offices and holding companies?

Accepted Answer

Yes. We support single-family offices, holding companies, SPVs and foundations in ADGM, DIFC, RAK ICC and JAFZA Offshore — statutory audit for non-financial entities, consolidated reporting across operating businesses and real estate, corporate tax positioning and confidential partner-only handling of family information.

Question 22

Are ADGM and DIFC SPVs and foundations required to be audited?

Accepted Answer

It depends on the structure and its registry conditions: many ADGM and DIFC SPVs and foundations must prepare annual financial statements and file audited accounts unless a specific exemption applies. We confirm the requirement against your registry filings and, where audit is required, sign it as an ADGM/DIFC Approved Auditor for non-financial entities.

Question 23

How does UAE corporate tax apply to a family holding structure?

Accepted Answer

Holding entities are taxable persons and must register, even when income is limited to dividends or capital gains that may qualify for participation exemption. Free-zone holding companies need to test Qualifying Free Zone Person status, substance and de minimis rules each year. We map every entity in the family group to its filing position before the deadline.

Question 24

Can you help with succession, governance and family-business restructuring?

Accepted Answer

Yes — business valuations for share transfers and estate planning, group restructuring and entity rationalisation, shareholder-dispute and forensic work, and outsourced CFO or governance support so the next generation inherits a documented, audit-ready finance function rather than institutional memory.

Question 25

What are the key UAE compliance deadlines each year?

Accepted Answer

Corporate tax returns and payment are due within nine months of the end of your tax period (a 31 December 2025 year-end files by 30 September 2026). VAT returns are monthly or quarterly. Economic Substance notifications and reports fall six and twelve months after year-end. Audited accounts are usually filed with the registry within three to six months. We publish your entity's calendar at onboarding.

Question 26

What are the penalties for late corporate tax registration or filing?

Accepted Answer

FTA administrative penalties include AED 10,000 for late registration and monthly penalties for late returns and payment, with further amounts for failing to keep required records. Penalties compound, so where a deadline has already passed we quantify exposure first and, where appropriate, use voluntary disclosure to limit it.

Question 27

How long must I keep records, and how far back can the FTA audit?

Accepted Answer

Accounting records and supporting documents must be retained for at least seven years, and under Federal Decree-Law No. 17 of 2025 the FTA's corporate tax audit window is now seven years. Practically, that means your 2024 and 2025 positions still need to be defensible in 2031 — which is why we keep documentation, not just numbers.

Question 28

Does my business need transfer pricing documentation?

Accepted Answer

If you transact with related parties or connected persons, you must apply arm's length pricing and complete the Disclosure Form with your return. A Local File and Master File are required once revenue or group thresholds are met. Even below thresholds, intercompany charges, owner remuneration and related-party loans need support on file.

Question 29

Do we need an AML programme and a registered compliance officer?

Accepted Answer

If you are a DNFBP — real estate broker, dealer in precious metals or stones, corporate service provider, auditor — or a regulated financial institution, yes: goAML registration, a documented AML/CFT programme, CDD/EDD, sanctions screening, staff training, an appointed compliance officer and an independent AML audit. We can build the programme or act as your outsourced MLRO.

Question 30

How does onboarding work and how long does it take?

Accepted Answer

A partner call to confirm scope, then KYC and engagement letter, a read of your last filed accounts and licence conditions, and a written compliance calendar. Most clients are fully onboarded within five to ten working days; urgent audit or filing deadlines are prioritised.

Question 31

How is your pricing structured — fixed fee or hourly?

Accepted Answer

Fixed scope and fixed fee agreed before work begins, based on entity count, transaction volume and filings required. Anything outside that scope is quoted separately in writing before we start it, so there are no open-ended hourly bills.

Question 32

Who actually does the work — partners or juniors?

Accepted Answer

A senior partner owns every engagement and signs every report. Juniors support the file under partner review, and you keep the same partner contact year to year rather than being reassigned each season.

Question 33

Can you take over from our current auditor or accountant mid-year?

Accepted Answer

Yes. We handle professional clearance with the outgoing firm, take over the ledgers on your existing software, reconcile opening balances and flag any prior-year issues before they reach the audit file. Switching does not require restating your accounting system.

Question 34

How do you keep our financial and family information confidential?

Accepted Answer

Client data is handled under a written confidentiality undertaking, held in access-controlled systems on a need-to-know basis within the engagement team, and processed in line with UAE PDPL. Sensitive family-office and shareholder matters are restricted to partner level.

Question 35

Do you serve clients outside the UAE?

Accepted Answer

Yes. Beyond Dubai, Abu Dhabi and Sharjah we are registered as auditors in Labuan, Malaysia, and operate a UK branch — useful for groups with UAE holding companies and offshore or European subsidiaries that want one reporting standard across the structure.

Answers about UAE audit, tax and compliance.

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