Yesterday, the Professional Compliance Committee for the Accounting and Auditing Profession announced the results of its work since it began operating in July 2024 until August 2025. The results included holding 24 meetings, during which 23 referrals for professional violations were reviewed, and 20 disciplinary decisions were issued. These measures varied from warnings and fines to suspensions for a number of accounting firms and licensed accountants authorized by the Ministry of Economy and Tourism. Financial penalties totaling 2.5 million dirhams were imposed, and seven individuals were suspended from practicing the profession.
These results are part of the committee's efforts to enhance oversight and professional governance in the accounting sector in the country, developing it in line with global best practices, which contributes to consolidating transparency and protecting the interests of investors and counterparties. This affirms the state's commitment to developing a reliable and competitive business environment.
The Professional Compliance Committee for the Accounting and Auditing Profession was formed pursuant to a decision by the Minister of Economy and Tourism, in accordance with Federal Law Decree No. (41) of 2023 on the regulation of the accounting and auditing profession. The committee is chaired by Abdullah Saleh Al Hammadi, Director of the Auditors Department at the Ministry of Economy and Tourism, and its membership includes representatives from the Ministry of Finance and the Dubai Economic Security Centre. The committee is specialized in investigating professional violations and taking disciplinary action against perpetrators, which includes warnings, fines, and suspension, up to license cancellation.
These efforts represent an extension of the plans of the Ministry of Economy and Tourism to enhance the efficiency of the profession and develop its regulatory framework, ensuring its alignment with international standards, which strengthens the position of the United Arab Emirates as a leading regional and global economic and financial hub.
The committee monitored a number of professional violations, the most prominent of which are issuing reports without supporting documents, conflicts of interest, weak documentation, signing data that does not comply with standards, failure to assess the going concern of companies, nondisclosure of material matters, and falsification of information. These results reflect the ministry's response to the reports and complaints it received, which were reviewed in accordance with legal controls, and disciplinary decisions were made against violators in a systematic and transparent manner.
The committee also indicated a growing number of legally registered accountants in the country by the end of August 2025, reaching 1,103 accountants compared to 871 in 2024, while the number of accounting firms increased to 396, which reflects the expansion of the market and the growing demand for auditing and accounting services.
Abdullah Ahmed Al Salih, Under-Secretary of the Ministry of Economy and Tourism, confirmed that the United Arab Emirates has given great importance to developing a comprehensive system for the accounting and auditing profession in line with best practices. He noted that the Professional Compliance Committee represents one of the effective oversight tools established by Federal Law Decree No. (41) of 2023, on the regulation of the accounting and auditing profession. The committee's positive results are a new step to affirm the state's commitment to applying governance and integrity standards for this profession, which contributes to providing a growth-enabling environment and enhances the competitiveness of the national economy.
