For Corporate Tax purposes the UAE requires audited financial statements from a wide group of businesses, and many free zone authorities require them for licence renewal. A good audit starts long before the auditor arrives: complete IFRS accounts, reconciled balances and a clear file of evidence.
Who needs audited accounts
Under Ministerial Decision No. 84 of 2025, for financial years starting on or after 1 January 2025:
- businesses with revenue above AED 50 million;
- every Qualifying Free Zone Person, whatever its revenue;
- every tax group, which prepares audited special-purpose financial statements.
Many free zones (for example DMCC, JAFZA and others) also ask for audited accounts with the licence renewal, regardless of tax.
How SJPR prepares you
- Year-end close: accruals, provisions, end-of-service benefits, fixed assets and related parties.
- IFRS financial statements with all required disclosures.
- Audit file: lead schedules, reconciliations, confirmations and contracts.
- Coordination with an approved, independent audit firm and answers to its queries.
- Final accounts filed with your free zone and used for the Corporate Tax return.
SJPR prepares the accounts; the audit opinion is issued by an independent registered auditor.
Frequently asked questions
My free zone company is small — does it still need an audit?
If it claims Qualifying Free Zone Person status (0% Corporate Tax), yes: audited financial statements are required regardless of revenue. Many free zones also require them for licence renewal.
Does SJPR sign the audit report?
No. To keep the audit independent, SJPR prepares your IFRS accounts and audit file, and an approved, independent audit firm issues the opinion. We coordinate the whole process.
When should the audit happen?
Early enough to file the Corporate Tax return within nine months of the year end. We plan the year-end close and the audit in your SJPR BiX timeline.
This guide reflects UAE law and FTA guidance as at October 2026. It is general information, not advice for your specific situation — rules and thresholds change, so speak to an SJPR advisor before acting.
