Consolidation of Accounts in UAE - Expert Solutions by Atharidca

Compliant. Transparent. Comprehensive. Powered by Atharidca.

In the UAE, Commercial Companies Law No. 2 of 2015 requires most companies to publish consolidated financial statements according to International Financial Reporting Standards (IFRS). At Atharidca, we provide specialized assistance in compiling and presenting consolidated accounts, fully compliant with UAE law and best global practices.

What is Consolidation of Accounts?

Consolidation is the process of merging the financial statements of a parent and its subsidiaries to reflect a consolidated financial position. This entails combining assets, liabilities, revenues, expenses, and equity and removing intra-group transactions and balances.

Who Needs to Consolidate?

Companies doing business via more than one legal entity or subsidiaries within the UAE—excluding those within DIFC or free zones having different rules—are in most cases supposed to consolidate their accounts. Companies that are listed, banks, and entities with controlling or significant interest in other companies have to comply with this mandate.

Our Consolidation Services Cover:

• Preparation of consolidated balance sheet, income statement, and cash flow
• Intercompany transactions and balances elimination
• Equity accounting of associates and joint ventures under IAS 28 and IFRS 11
• Conformity with requirements for disclosure of IFRS 10, IFRS 3, and IFRS 12
• Guidance on accounting for mergers and acquisitions

Why choose Atharidca?

• Our group of professional accountants maintains precision, transparency, and conformity across every phase of financial consolidation.
• We remain informed on changing standards as well as UAE-specific law needs, presenting powerful reports useful in decision-making as well as boosting stakeholder confidence.

Achieve regulatory compliance and financial transparency with expert accounts consolidation by Atharidca.

Talk to us today to simplify your group's accounting reports.