

AML Compliance

ESR Compliance

Liquidation Services

Real Estate Developers are required to get their project escrow accounts audited annually for each project under development. GSPU’s experience in Project Trust account audits, and legal compliances, in line with guidelines prescribed by RERA, goes a long way.
With our experience in dealing with major property developers in the UAE, a cordial relationship with the RERA Trust Account department as well as the Account Trustees, we are in a position to act as a consultant to developers to comply with RERA regulations.
We have a team dedicated to Project trust account audits, available year-round to provide advice to developers on compliances required by RERA. Our relationship with RERA permits us to obtain prompt clarification on any unforeseen complications or amendments to the RERA guidelines.
Our documented trust account audit procedures enable us to deal with complex situations such as transfer of funds from one escrow account to another; or long-term projects, where cash is collected prior to opening of escrow account.
Over the years, our team has developed a thorough understanding of various laws prescribed by RERA, thereby enabling us to prepare accurate audit reports, complying with RERA regulations.
In addition to project trust account audits, our team carries out the preparation of project cash flow statement in R/T/02 required for opening of Escrow Account.
Service charges in Dubai are applicable to all types of properties in the city. It is a recurring fee that is paid by owners or landlords, for the maintenance of communal areas. Various aspects that include maintenance, cleaning, security staff and landscaping are covered in the service charge. The method of applying service charges are governed by guidelines from RERA, Dubai’s Real Estate Regulatory Authority.
Service charges may not be the same for every owner; it varies depending on factors that include the size of the unit, the permitted use of the unit and certain standards that must be maintained by particular unit owners.
For developers, a good service charge model ensures that the charges are levied on an accurate and systematic basis, and in compliance with RERA requirements
RERA (Real Estate Regulatory Agency) a government agency responsible for the formulation of rules and regulations for various real estate activities in Dubai requires that all developers registered with RERA should have an ESCROW account and conduct an independent audit to identify the completion status of the project regarding the progress of construction. RERA also requires an annual submission of the audit report for all completed projects from registered developers.
The RERA audit can be divided into three segments.
1.Operational Audit:
The examination of the control environment in which an entity carries on its business with the objective of increasing its efficiency and effectiveness.
2.Financial Audit:
Financial audit includes the examination of:
3.Compliance Audit:
To review and verify that developers activities are in compliance with the laws and regulations defined by the Real Estate Regulatory Agency (RERA).
GSPU Auditing has its sister concern which is an approved and listed audit firm with Dubai & Land Department, our members are well known for their skills and expertise in identifying, analysing and make strategies for complex problems in real estate and provide perfect solutions. Our Services includes:
WhatsApp us