RERA Approved Auditors In Dubai
Now Consultant is recognized as one of the trusted RERA Approved Auditors in Dubai, delivering accurate and transparent financial services. We specialize in the audit of real estate developers, ensuring full compliance with RERA regulations while maintaining financial clarity.
The real estate market in Dubai is a growing and constantly evolving industry, offering numerous opportunities for entrepreneurs, agents, and investors. If you are involved in the real estate business or looking to benefit from these opportunities, you need strict compliance with legal and regulatory requirements set by the Real Estate Regulatory Agency (RERA).Â
If you neglect compliance with these regulations, it can lead to significant penalties and suspension of your business operations. To maintain compliance with RERA’s standards, real estate companies must undergo audits conducted by RERA approved auditors.
Who Are RERA Approved Auditors?
RERA Approved Auditors are financial professionals recognized by the Dubai Real Estate Regulatory Authority (RERA). They are qualified to conduct audits in line with IFRS (International Financial Reporting Standards) and RERA-specific regulations, ensuring complete compliance for real estate businesses.
By providing trusted audit services in RERA, these auditors help developers and companies avoid penalties, maintain transparency, and build investor confidence.
As a trusted RERA audit firm, Now Consultant delivers accurate and reliable financial audits for real estate developers. Our experts provide tailored audit services in RERA to ensure your business meets all regulatory requirements while supporting sustainable growth in the real estate sector.
Rules & Regulations By RERA For Audit
Monitoring & Supervision By RERA
As per Article 5 of the regulations, RERA has the authority to monitor and supervise the activities of real estate developers and Owners Associations. RERA can also review their financial records and audit their books of accounts to ensure compliance.
Certified Financial Statements For Escrow
According to Article 6 of the regulations, developers must present certified financial statements showing the project's estimated costs and revenues. These documents are required when opening an escrow account to ensure transparency in project financing.
Audit Solutions for Real Estate Businesses
Real estate businesses in Dubai require specific types of audits based on their operations and regulatory needs. These include:
Escrow Account Audits
An escrow account audit ensures that developers manage project funds transparently. RERA mandates that all developers maintain escrow accounts to safeguard buyers' payments until project completion.
Financial Audits
Financial audits assess the accuracy of a company’s financial statements, helping to identify potential risks and ensure fiscal responsibility.
Service Charge Audits
Our experts assess whether collected service charges are fair, properly allocated, and in full compliance with RERA guidelines.
RERA Compliance Audits
Compliance audits verify that real estate companies adhere to RERA’s rules and regulations. This includes reviewing financial records, operational processes, and documentation.
Forensic Audits
Forensic audits investigate any fraudulent activities within a real estate business, providing detailed insights for legal proceedings.
Owner’s Association Audits
We conduct thorough audits of jointly owned properties to verify transparent financial management and compliance with RERA’s Jointly Owned Property Law.
How We Do Audit of Real Estate Businesses?
At Now Consultant, we offer the following step-by-step process to meet the specific requirements for the real estate audit in Dubai:
Initial Consultation
In the first step, we help you define clear audit objectives and make a customized plan that aligns with your business requirements. Our team makes sure that your concerns are fully understood and addressed from the beginning.
Document Review
In the second step, our experts guide you in gathering all required documents efficiently. We make the process easy to meet your specific needs.
Audit Execution
In the third step, we conduct a precise analysis of your financial records using advanced tools, ensuring every financial detail is accurate. Our team communicates findings clearly, keeping you informed throughout the process.
Compliance Check
In the fourth step, we identify compliance gaps and provide practical solutions to address them according to RERA regulations. Our real estate audit assistance ensures corrective measures are implemented to safeguard your firm's operations.
Reporting and Recommendations
In the last step, we deliver a detailed report with all required details to enhance your compliance and operational efficiency. Our support continues beyond the audit, helping you implement the recommended improvements effectively.
Why You Should Hire RERA Approved Auditing Firm
The following reasons explain why certified auditors are necessary for the audit requirement of your real estate business in Dubai.
The certified auditors have specialized knowledge of the laws governing Dubai’s real estate sector, ensuring precise compliance.
If you fail to comply with RERA regulations, it may lead to hefty fines or even license suspension. The authorized auditors help mitigate these risks.
If you hire a RERA approved auditor, it exhibits your commitment to transparency and accountability.
A RERA audit firm should provide detailed reports that help companies address discrepancies and improve operations.
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Key Documents Required for RERA Audit:
The real estate companies must prepare the following documents for a RERA audit in Dubai:
- Copies of all financial statements related to the property or project.
- Records of all monetary transactions, including receipts and invoices.
- Escrow account details and transaction logs.
- Sales and purchase agreements.
- Property registration documents.
- Contracts with contractors and suppliers.
- Letters of authority and licenses.
RERA Audit Laws In UAE
RERA audits in Dubai are controlled by several important laws and rules. Some of the main ones are:
Law No. 8 of 2007 – Escrow Account Law: Real estate developers must place investor funds in a secure escrow account. This stops the misuse of money for non-project activities. Funds can only be withdrawn once the construction stages are achieved.
Law No. 27 of 2007 – Jointly Owned Property Law: Covers the setup of owners’ associations. Ensures service fees from owners are used only for upkeep and management.
RERA Service Charge Guidelines: Requires clear budgeting of service fees. Developers and managers must justify and audit charges every year.
Dubai Land Department (DLD) Rules on Property Management: Property managers must provide audited yearly financial reports. All leasing and maintenance activities need proper financial records.
Why Choose Us For RERA Audit?
At Now Consultant, our approved auditors in Dubai understand the complexities and compliance challenges associated with RERA audits. Our dedicated team of experts supports you at every step.
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From the initial consultation and document preparation to resolving issues and submitting the final report, we ensure precision, mitigate the risks of fines or penalties, and safeguard your business’s adherence to regulatory requirements.
- Uncompromising Accuracy
- Customized Audit Excellence
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Frequently Asked Questions
What is RERA accounting in Dubai?
RERA accounting refers to financial record-keeping and reporting in compliance with the Real Estate Regulatory Agency (RERA) guidelines. It ensures transparency and accountability in real estate project finances.
Why do real estate developers in Dubai need an audit?
Real estate developers are required to conduct audits to ensure transparency, verify the proper use of project funds, and comply with RERA and Dubai Land Department regulations. An audit helps maintain investor confidence and ensures all financial activities align with approved project budgets.
Do you also provide tax and accounting services for real estate companies in Dubai?
Yes. Along with our audit services for real estate developers, Now Consultant provides complete tax and accounting solutions tailored to the property sector. Our experts manage corporate tax compliance, VAT registration and filing, and real estate accounting, ensuring your books remain transparent and fully aligned with RERA and UAE tax regulations.
Do you offer RERA audit services across the UAE?
Yes, we provide comprehensive RERA audit services in Dubai, Abu Dhabi, Sharjah, and across the UAE.
