In adherence to the regulatory framework set by the Real Estate Regulatory Agency (RERA), Makca & Co. recognizes the mandatory requirement for RERA audit services for all real estate businesses and projects registered under RERA in Dubai. Makca & Co., acclaimed as one of the premier audit firms in Dubai, proudly boasts a team of Approved RERA Auditors, providing unparalleled expertise and adherence to the highest standards.
RERA Audit Services
Real estate developers and projects registered with RERA undergo an annual audit of their project escrow accounts, financial accounts, and service charge budgets. This initiative, a strategic move by RERA, aims to promote good governance measures, enhance transparency, and instill investor confidence in Dubai’s real estate sector.
As an approved RERA audit firm by the Dubai Land Department, Makca & Co. offers a comprehensive suite of services, including Mollak services, escrow account auditing, budget reviews, audit of financial statements for Owners’ associations, service charge audits, unit balance verification, management accounting, trust account services, special levy reviews, and master community audits.
Details of RERA Audit Services:
Operational RERA Audit: Step 1:
- Examination of functions and operations for increased efficiency.
- Review of the Trust account system entries maintained by RERA.
- Review of cash collections and payments from the Trust account.
Financial RERA Audit: Step 2:
- Audit of the project revenue and cost statement.
- Review of total units sold, cash received, and financial institution funding.
- Audit of all payments, including land cost, registration fees, construction, and marketing.
- Verification of retentions money and advances to contractors.
Compliance RERA Audit (Step 3 – For Completed Projects):
- Audit of financial statements for the Owners’ association.
- Review of service charges and budget compliance.
- Unit balance verification and Mollak services.
- Critical analysis of the project completion status.
Service Charge Budget Review – RERA Budgeting:
- A detailed review of budgeted service charge figures.
- Alignment with industry standards and regulatory guidelines.
Mollak – Jointly Owned Property Audit of Service Charge:
- In-depth audit of service charge accounts for various property types.
- Compliance with RERA regulations and industry standards.
How Makca & Co. Can Help You:
- Certified auditors by RERA, ensuring compliance with regulations.
- An independent review of service charge budgets for justified allocations.
- Expertise in underdeveloped and completed project audits.
- Strategic internal audits for business insights and risk mitigation.
Makca & Co. stands as a reliable partner, providing assurance through RERA audit services in Dubai. Our commitment to excellence and adherence to RERA regulations make us a trusted choice for real estate developers, management companies, and stakeholders seeking robust and transparent auditing services.
