HOA in Abu Dhabi
The real estate market development in Abu Dhabi gained thrust following the issuance of Abu Dhabi Law No. 3 of 2005. The Abu Dhabi Government published its most substantial property law, Law No. 3 of 2015. This Law aims to better regulate the real estate market in Abu Dhabi by addressing the shortcomings and attracting investors.
The Law 3 of 2015 addresses the concept of HOA related to the Jointly Owned properties in Abu Dhabi. These are mentioned in Chapter 2 (articles 64 to 70), and considering the supervisory authority is The Department of Municipal Affairs, Abu Dhabi.
A homeowner’s association (HOA) audit is a statutory audit of the association’s finances and ensures the association’s continued compliance with respecting laws, regulations, and procedures in the operating territory. A registered auditor usually performs the Audit in the country. The auditor is the person who the authorities or regulators of the HOA approve.
HOA audits are crucial for the owners of units Jointly Owned as HOA audits give an insight that the association budgets were prepared correctly and spend accordingly and in compliance with the Law.
HLB HAMT is a registered audit firm and approved auditor for all the respective regulators and authorities, including RERA, for the Audit and advisory services with Home Owners Associations (HOA) in the UAE. We are also acting as auditors for DIFC related to Strata associations (Body Corporates) which DIFC regulates.
Latest insights, case studies and news from across the network
Audit Compliance in the UAE: Understanding Regulatory Requirements
Have you ever considered why companies seek auditing services in the UAE? Numerous factors drive the need for an audit, most of which can be categorized into three main reasons:
Understanding Audit Services in the UAE: A Comprehensive Guide
Imagine you are an entrepreneur or business owner overseeing a rapidly growing enterprise that has captured the attention of investors and customers alike. As your company scales
Becoming a Digital Citizen: Embracing Learning and Development in the Workplace
The ever-changing digital landscape ensures that adopting innovative technologies in the workplace will always be necessary. Accountancy and finance professionals must