Six-month accounts timetable
Subject to applicable exemptions, Article 124(4) requires preparation, approval, audit and shareholder circulation within six months after year-end.
DIFC Registrar · Registered auditors
DIFC Approved Auditors
Independent audit and clear financial reporting for non-regulated DIFC companies. SAIF Chartered Accountants brings a practical approach to year-end accounts, evidence and reporting responsibilities.
Verified registration
A registered firm. A properly scoped audit.
SAIF Chartered Accountants appears in DIFC’s official Registered and Recognised Auditors directory as Registered, with our Business Bay office details.
View the official DIFC directory ↗For directors and finance teams, the priority is dependable accounts and a reporting process that can be followed from the ledger to the signed financial statements.
Our UAE practice, established in 1994, supports non-regulated DIFC businesses with audit, accounting and separately agreed tax services. We begin with the entity’s activities, ownership structure and reporting obligations—not a standard report detached from the business.
When searching for “DIFC approved auditors”, verify both the firm’s registration and the scope your entity needs. DFSA registration is a separate requirement for specified regulated and listed entities and funds; Registrar registration should not be treated as interchangeable.
Entity-specific requirements
Does your DIFC company need an audit?
Identify the legal structure before applying a threshold. A company-law exemption does not settle every tax, shareholder or financing requirement.
Small private companies
Article 124(6) provides relief where consolidated turnover is no more than USD 5 million and there are no more than 20 shareholders throughout the year. Both tests apply in the current and, where relevant, preceding financial year, subject to the Articles.
Other obligations still matter
Shareholders holding at least 10% of nominal share capital can require an audit through a timely written notice under Article 124(7). Separately assess tax rules, lender conditions and group instructions before relying on an exemption.
| Entity or circumstance | Starting point | Practical next step |
|---|---|---|
| Non-regulated private company | Assess the Companies Law and any applicable exemption. | Review ownership, consolidated turnover and constitutional documents. |
| Holding or group company | Consider subsidiaries and the relevant consolidation perimeter. | Obtain component accounts and assess investment and intercompany balances. |
| Prescribed company or foundation | Check the specific legal regime rather than importing the ordinary-company tests. | Review its purpose, documents and current entity-specific rules. |
| DFSA-regulated or listed entity | Separate regulatory reporting and auditor eligibility may apply. | Confirm DFSA requirements before commissioning the assignment. |
Sources: Companies Law, Article 124, Registrar Corporate Actions Client Handbook and DFSA auditor-registration guidance. Confirm any special conditions for your entity.
Plan the reporting calendar
Approval, circulation and filing are different milestones.
Work backwards from the applicable dates. Leave time for questions, adjustments and director approval—not only the final upload.
Track the circulation date
Article 124(5) requires filing within 30 days of circulation. The Registrar handbook lists seven months from year-end for the annual-accounts filing service; an earlier circulation date can bring the statutory deadline forward.
Record the change promptly
The handbook requires appointment or removal notifications within 30 days. For appointment, it requests a board resolution and the auditor’s acceptance letter.
The applicable legislation takes precedence over handbook summaries. Keep DFSA reporting, licence renewal and federal tax dates on separate lines of your compliance calendar.
How we can help
Audit and accounting services for DIFC businesses.
A defined scope connects the work to the company’s actual reporting needs, with responsibilities agreed before the engagement starts.
Annual financial statement audit
An independent examination of the financial statements of non-regulated DIFC companies, with the reporting framework, financial period and intended recipients agreed at the start.
Explore the service →Year-end accounts and IFRS reporting
Prepare a coherent reporting package from reconciled records. Assess accounting policies, significant estimates and disclosures under the applicable framework, including IFRS where required.
Explore the service →Bookkeeping and financial close
Resolve incomplete ledgers, bank differences and unsupported balances before the reporting deadline. Scope accounting assistance separately and assess independence where an audit is also requested.
Explore the service →Group reporting coordination
Plan for subsidiaries, component information, intercompany balances and consolidation adjustments. Establish what the parent’s reporting instructions require and who provides each schedule.
Explore the service →Corporate tax support
Reconcile accounting figures to the tax computation and assess the company’s actual free-zone tax position. Keep tax responsibilities and deadlines separate from Registrar filings.
Explore the service →Transfer pricing and benchmarking
Review related-party services, funding and other controlled transactions. Build an appropriate analysis around the commercial arrangement, pricing method and supporting evidence.
Explore the service →Beyond the trial balance
Focus on the transactions that shape the accounts.
The same reporting framework can involve very different evidence for a consultancy, a holding company or a regional group office.
Holding companies and investments
Establish ownership, valuation and recoverability of investments. Support dividends, disposals, shareholder loans and funding arrangements. Document management’s judgements rather than relying on an unexplained year-end value.
Professional and commercial services
Trace revenue to contracts, milestones and work performed. Reconcile unbilled income, customer advances and receivables. Explain overseas service costs and the basis for allocating shared expenditure.
Regional headquarters and groups
Reconcile both sides of intercompany balances and agree reporting instructions early. Keep consolidation adjustments, management charges and foreign-currency workings traceable to the underlying records.
Growing owner-managed businesses
Separate personal and company expenditure, formalise funding terms and improve the close process. Explain significant changes in activity, staffing, liquidity or contracts so the audit plan reflects the business.
Example: supporting an intercompany service charge
- 01 · AgreementIdentify the service, the parties and the commercial purpose.
- 02 · Delivery and calculationRetain evidence of work performed and how the charge was calculated.
- 03 · Accounting and disclosureReconcile the balance and assess the accounting, disclosure and tax treatment.
Preparation workflow shown for planning. The required audit procedures and transfer pricing analysis depend on the actual transaction.
Prepare the evidence
Your DIFC audit document checklist.
Keep a controlled final trial balance and supporting schedules that reconcile to it. Identify missing records before the timetable becomes urgent.
Legal and governance file
Commercial licence, incorporation documents, Articles of Association, ownership structure, board minutes and auditor appointment records. Include relevant Registrar correspondence and any change of year-end.
Ledger and cash
Final trial balance, general ledger, all bank statements, reconciliations, loan agreements and cash-flow information. Explain old reconciling items and funds received from owners.
Revenue and operating costs
Contracts, invoices, credit notes, customer and supplier ageing, subsequent settlements and accrual workings. Link service revenue to the underlying delivery and contractual terms.
Investments and group balances
Subsidiary accounts, ownership records, investment valuations, intercompany agreements and balance confirmations. Support impairment assessments and explain differences between group entities.
Assets, people and commitments
Asset register, lease schedules, payroll, employee-benefit workings and material commitments. Include inventory records if applicable and evidence supporting significant estimates.
Tax and subsequent events
Tax computations, VAT records where relevant, related-party analysis and reconciliations to the accounts. Identify material events after year-end and management’s going-concern assessment.
Make the file usable
Assign one management coordinator, use a secure document-sharing channel and track open requests. Explain differences between the ledger, schedules and prior accounts instead of sending multiple conflicting versions.
Read the DIFC audit preparation guide →A coordinated engagement
Four stages from appointment to reporting.
Clear ownership of records and decisions helps prevent avoidable delays. Completion still depends on sufficient evidence and timely responses.
- 01
Confirm scope and appointment
Review the entity, reporting obligations, independence and records. Agree deliverables, responsibilities, fees and the appointment documentation.
- 02
Prepare the reporting file
Close the ledger, reconcile material balances and organise evidence. Set a timetable for management responses and any group reporting dependencies.
- 03
Examine and resolve
Perform the agreed audit work, obtain evidence and discuss proposed adjustments and disclosures. Escalate issues early rather than leaving them to the signing date.
- 04
Approve, report and file
Obtain management approvals and representations, finalise the report when appropriate, and complete any separately agreed filing assistance. Retain the submission confirmation.
Financial reporting and deliverables
A complete reporting pack, not just an audit letter.
Agree the applicable accounting framework at the outset. A financial statement package normally addresses financial position, performance, changes in equity, cash flows, notes and comparative information, as required by that framework.
Management is responsible for preparation and approval; the auditor evaluates evidence and forms an independent opinion. An audit provides reasonable—not absolute—assurance and does not guarantee financing, profitability or an authority’s decision.
For material balances, the report should be supported by understandable policies and disclosures. Consider estimates, investment impairment, related parties, going concern and events after the reporting date where relevant.
Agree additional deliverables
- Independent auditor’s report and signed financial statements.
- Management-letter observations, if included in the scope.
- Parent-company schedules or consolidation assistance.
- Registrar submission assistance and evidence of filing.
- Separately scoped bookkeeping or tax services.
Not every engagement includes every item. Confirm the recipients, format and responsibility for submission in the proposal.
What affects the fee?
Record quality, transaction volume, subsidiaries, investments, complex estimates and additional reporting all influence the work. Request a transparent fee breakdown rather than comparing headline prices alone.
Connected figures, distinct obligations
Coordinate Corporate tax and transfer pricing.
A DIFC licence does not by itself establish a 0% Corporate tax outcome. Assess the company’s activities and actual tax position, including whether it meets the conditions for Qualifying Free Zone Person status.
Keep accounting figures consistent with tax workings and document the bridge between them. Review any separate requirement for audited financial statements even if a company-law exemption may be available.
Corporate tax assessment and support →Related-party services and financing
Group service charges, loans and other controlled transactions need a commercial explanation and appropriate supporting records. Assess the pricing method and documentation rather than treating an invoice as the entire analysis.
Benchmarking with a clear purpose
A benchmarking study can support the relevant transfer pricing analysis, but it must match the transaction and its economic circumstances. Retain the agreement, calculations and evidence alongside the analysis.
Transfer pricing services →Frequently asked questions
DIFC audit questions, answered.
Practical answers for directors, business owners and finance teams. Confirm the requirements for your particular legal entity.
Discuss your company →01Is SAIF Chartered Accountants registered with DIFC?+
Yes. The official DIFC Registered and Recognised Auditors directory lists Saif Chartered Accountants with status Registered. Our service focus on this page is non-regulated DIFC companies.
02Are DIFC approved auditors and DFSA registered auditors the same?+
No. DIFC Registrar registration and DFSA auditor registration are distinct. For a regulated or listed entity, check the applicable DFSA requirements and the proposed signing firm’s eligibility before appointment.
03Does every DIFC company need an annual audit?+
Not necessarily. The entity type, applicable exemptions, constitutional documents, shareholder requests and other obligations matter. Use the requirements section above as a starting point, not a blanket exemption for every small or inactive business.
04What is the DIFC audit deadline?+
Distinguish preparing, approving and circulating accounts from filing them. The timetable above explains the Companies Law and Registrar handbook requirements; regulated entities and special structures need their own assessment.
05Can a holding company qualify for an audit exemption?+
Do not decide from its standalone revenue alone. Review the relevant exemption, subsidiary information, ownership and other obligations. The analysis should be documented for the specific reporting period.
06What if a DIFC company has no revenue?+
It may still have capital, investments, leases, employee costs or group transactions to account for. Inactivity does not by itself establish an audit exemption or remove the need to maintain appropriate records.
07Which records are needed to start a DIFC audit?+
Send the licence, reporting year, trial balance, prior accounts and group structure first. The checklist above covers the main supporting schedules; the final request list depends on the company’s activities and risks.
08How long does a DIFC audit take?+
Timing depends on record quality, group complexity, evidence availability and management responses. Agree milestones after the initial review, allowing time for adjustments, approval and the applicable filing deadline.
09How are DIFC audit fees determined?+
Fees reflect scope, transaction volumes, investments, subsidiaries, significant estimates, record quality and additional deliverables. Ask for a written proposal distinguishing audit from bookkeeping cleanup, tax advice and submission assistance.
10Can you prepare the financial statements and audit them?+
These are separate responsibilities and must be assessed for independence and appropriate safeguards. Management remains responsible for the accounting records, policies, estimates and approval of the financial statements.
11Does a DIFC audit complete Corporate tax compliance?+
No. An audit opinion and a tax return serve different purposes. Reconcile the financial statements to the tax computation and assess the company’s tax status, elections, supporting records and separate filing requirements.
12What happens if evidence is missing or the filing is overdue?+
Identify the missing records and contact the appropriate authority about overdue obligations. An auditor cannot guarantee an unmodified opinion or remove a late-filing consequence. Agree a realistic evidence and completion plan.
Relevant guidance
DIFC audit and related tax insights.
AuditDIFC Audit Preparation: A Year-End Checklist for Companies
Prepare your DIFC audit with a practical year-end checklist covering records, group balances, management approvals and a coordinated reporting timetable.
Read insight ↗
AuditChoosing a DIFC Registered Auditor: Scope, Evidence and Fees
A practical guide to choosing a DIFC registered auditor: verify the firm, distinguish DFSA requirements, compare proposals and plan a workable engagement.
Read insight ↗
Corporate TaxQualifying Free Zone Person Assessment: UAE Corporate tax Guide
Assess QFZP eligibility, qualifying income, excluded activities, de minimis, substance, audit and transfer pricing requirements under UAE Corporate tax.
Read insight ↗Official references
Read the underlying requirements.
- DIFC — Registered and Recognised Auditors directory
- DIFC Companies Law No. 5 of 2018 — accounts and audit, Part 10
- DIFC Corporate Actions Client Handbook — revision 27, 9 September 2026
- DFSA — separate auditor-registration requirements
- DIFC legal database — current entity-specific laws and regulations
Updated 17 September 2026. General information, not entity-specific legal or tax advice. Check current legislation and authority instructions before acting.
SAIF Chartered Accountants · DIFC
Give your year-end reporting a clear plan.
Share the licence, group structure, financial year and trial balance. We will assess the scope and propose a practical engagement timetable.
Request your DIFC audit proposal →