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Real Estate Regulatory Authority (RERA) Audit

Parker Russell UAE is one of the 20 approved auditors by The Real Estate Regulatory Agency (RERA), a Government entity in the UAE.

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RERA Audit Services in Dubai

The Real Estate Regulatory Agency (RERA) is a government agency that licenses, formulates, regulates, and oversees numerous real estate-related operations in Dubai.

As of February of 2022, Parker Russell UAE is one of the 20 approved auditors of RERA. 

As the auditor, Parker Russell UAE can perform escrow audits for property developers on off-plan sales & budget review and financial audit for the Owner’s Association.

Parker Russell UAE is an approved RERA Auditor since 2014. 

Our expert and approved RERA auditors are well-versed in assuring compliance with stated RERA audit regulations, as well as the operation of Escrow Trust Accounts, Jointly Owned Property, and Developer’s progress status, and have considerable experience conducting RERA audits.

Parker Russell UAE, always keeps an update of any amendments made in the legal compliance of the RERA department which makes it easier to serve the real estate businesses with any queries regarding the real estate audit and compliance in the UAE.

Types of RERA Audit

Audits of real estate businesses have been classified into three main categories which are as follows:

  • Checking the supporting evidence of the total funds received from different financial institutions for the execution of the ongoing projects.
  • Examining total cash receipts from customers and the total number of property units canceled and sold.
  • Checking all the payments that have been made during the ordinary course of business such as land cost, registration fee, etc.
  • Examining advances issued to third parties or employees either in cash or in the form of a financial instrument.
  • Examining retention money which should be equal to 5 percent of total funds received.

An operational audit mainly includes the examination of the business environment in which an entity carry out its business operations.

A compliance audit basically involves the review and verification of real estate developers’ activities to make sure that they comply with all the rules and regulations that apply to the real estate business.

Why Parker Russell UAE?

Our experienced, trusted advisors can help with a variety of complex business issues and transactions. With our know-how, we can make recommendations for your organization’s finance function efficiency, articulate effective employee benefits programs, or realize value out of large volumes of data.

Our Services included: 

  • Mollak Services.
  • Unit balance Verification.
  • Audit of service charges.
  • Audit of financial statements of Owners’ association.
  • Budget reviews as per scope specified by RERA.
  • Private taxation services for the partners.
  • Management Accounting.
  • Escrow Account auditing.
  • Special Levy reviews.
  • Master community audit.
  • Key business indicators.
  • Trust Account Services.

To know more details or get instant Quote

Please get in touch with sales@pr-uae.com or +971 52 624 0399

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Offices in the UAE

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Years of Experience

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