info@abbasaccounting.com   Office No. 405, Zone B, Aspect Tower, Business Bay, Dubai    +971 4 4329083

Escrow Trust Account and Owner’s Association & Developer’s Audit

AA&Co. is among the approved list of Auditors qualified for executing RERA and Owner’s Association Audit.

Full scope of this services is as follows:

The scope of a RERA audit includes:

a) Financial Audit – To review:
A list of units sold, units cancelled and cash received from buyers
Mortgage/finance amount received for the project from financial institutions
Retention a/c balance and verify it represents 5% of total funds received
Paid land costs and other related payments (registration fees, oqood etc.)
Project construction, management & marketing related payments
Advance payments released to the contractor(s) or other parties
Advance payment guarantee and performance bond issued

b) Operational Audit – To assess the effectiveness of control environment and activities of the company.

c) Compliance Audit – To verify whether or not the developer is in compliance with the applicable real estate laws & regulations as required by RERA.

"Independent – minded professionals keen to aid financial, economic, and social development both to local and global market."

Our Location

Dubai Office
Office 405, Zone B, 4th Floor
Business Bay, Executive Tower D
Aspect Tower Building
Dubai, U.A.E
Tel : +971 4 4329083

 

Abu Dhabi Office
Al Reem Island, Addax Tower
35th Floor, Office 3505
P.O.Box : 46305
Abu Dhabi, U.A.E
Tel : +971 2 6282650