United Arab Emirates: Audit

The UAE has introduced Federal Decree-Law No. 41/2023 to regulate the accounting and auditing profession, replacing Federal Law No. 12/2014. This new law aims to improve corporate governance standards and Anti-Money Laundering (AML) compliance.

To date, those seeking to conduct due diligence in relation to a UAE LLC have had to rely heavily on cooperation from the target company and its management, as publicly accessible information is very restricted.