Annual Compilations
you can trust
Kounted provides comprehensive accounting support to all entities obligated to retain accounting records in the ADGM and DIFC. Further, we ensure statements are complete, accurate, and compliant for ADGM Annual Filing submissions.
Our Professional Service Offering
Kounted delivers expert assistance across financial reporting, disclosure compliance, and structured reporting obligations under ADGM, DIFC and IFRS frameworks.
Compilation of Annual Account Statement
Drafting of financial statements and supporting schedules in the prescribed formats, incorporating required headings, references, and presentation standards.
Accounting Policies & Disclosure Review
Review and prepare financial disclosures in accordance with ADGM and DIFC requirements, ensuring compliance with IFRS presentation standards according to entity type, capital structure, and transactions
Transaction Recognition & Classification
Expert assistance in determining the correct accounting treatment of transactions, equity instruments, and balances in line with IFRS recognition and measurement principles.
Record Capture & Bookkeeping Support
Capture and compilation of underlying accounting records where transactional data is incomplete or needs formal structuring prior to financial statement preparation.
Scope Limitations
- Compilation services cover reporting for specific periods and do not include ongoing bookkeeping unless explicitly included in the service scope
- All services are subject to verification of minimum supporting documentation as outlined in the Requirements section.
- Kounted reserves the right to withhold deliverables pending receipt of complete and accurate source materials.
- Consulting does not include legal opinions or representation unless explicitly agreed in writing.
Regulatory Context
Our support and reporting services are guided by the regulatory frameworks established by the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Centre (DIFC).
Each jurisdiction outlines specific requirements for the preparation, filing, and retention of annual financial statements, based on a company’s legal structure, size, and operations.
ADGM Entities
Companies registered in ADGM must comply with theADGM Companies Regulations 2020, which define the content, format, and mandatory filing obligations for annual accounts. Audit and filing requirements vary depending on financial thresholds.
DIFC Entities
DIFC-registered entities must comply with the DIFC Companies Law and the Accounting & Audit (AA) Module under the DIFC Regulatory Law. While most entities do not have a filing obligation for annual financial statements, they are legally required to prepare and retain complete accounting records. Failure to do so can lead to penalties of up to USD 25,000. For regulated firms that must file audited accounts, late submission may incur additional fines (e.g., USD 1,000).
For more details, refer to the DIFC Operating Law & Companies Law—see the section on record‑keeping penalties in this official PDF:DIFC Operating Law – record-keeping penalties.
*Select Pricing Options
*Select your entity type, jurisdiction, and bookkeeping scope to receive purpose-built pricing for your ADGM or DIFC compilations.
$495
ADGM "Simple" SPV
Standard ADGM SPV where client maintains their own records.
- ≯ 1 Share Class (Ordinary)
- ≤ 2 Shareholder
- ≤ 2 Shareholder or Inter-company Loans
- ≠ Complex Instruments (e.g. convertibles, SAFEs, derivatives)
- ≤ 2 Passive Asset Holding (e.g. equity, property)
- ≤ 50 ledger movements (bank, capital, journals)
$795
ADGM "Complex" SPV
Standard ADGM SPV where client maintains their own records.
- Multiple Share Classes
- Multiple Shareholder
- Complex Debt or Equity Instruments
- Cross-border Operations
- Shareholder or Inter-company Loans
- Fair-value or amortised-cost disclosures under IFRS
*Documents Required
Please note some specific requirements may be applicable to your business and the services you require. Please contact us for more information.
Client Transaction Documents (*Bookkeeping)
*If Kounted is required to do the Bookkeeping, we will request the indicated documentation per balance and item type, to verify recognition, measurement, classification and presentation of financial transactions.
Substantiation
- Management assertion of control and probable future economic benefit.
- License contracts ensuring rights of use and revenue share.
- Royalty agreements and usage-based fee schedules.
- Patent registration certificates or filings.
- Amortization schedules and impairment assessments.
Regulating Framework
- IFRS: IAS 38 – Intangible Assets recognition and measurement.
Client KYC Documents (Onboarding)
* All NEW Kounted clients are required to pass KYC verification and client due diligence. Thus personal documents might be requested as obligated under ADGM and UAE AML regulations.
Substantiation
- Passport and Emirates ID (or similar national ID)
- Proof of address (utility bill, lease, etc.)
- Corporate documents (trade license, MOA, board resolution)
- Ultimate Beneficial Owner declaration
Regulating Framework
- UAE Federal AML Law – Cabinet Decision No. (10) of 2019
- ADGM AML Rulebook – Customer Due Diligence obligations
- DIFC Verification of identity and beneficial ownership disclosures
Frequently asked questions
Are all entities required to maintain accounting records, even if they don’t file?
Yes. Regardless of whether filing is mandated, all ADGM and DIFC entities are legally required to keep accounting records that correctly explain their transactions, financial position, and performance. These records must be sufficient to enable financial statements to be prepared and audited if required, and must be retained for at least six years.
Why use Kounted for your Annual Account filing compilation?
Kounted assists ADGM- and DIFC-registered entities with the preparation and submission of Annual Accounts. This includes reviewing financials for IFRS compliance, formatting statements in line with regulatory requirements, and drafting board or shareholder resolutions when necessary.
What regulations apply to Annual Accounts?
Annual Accounts must comply with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS). ADGM entities are subject to the ADGM Companies Regulations 2020, which require filing audited or unaudited accounts annually. DIFC entities must comply with the DIFC Companies Law and the Accounting and Audit (AA) Module of the DIFC Regulatory Law. While most DIFC entities are not required to file their accounts, they must still prepare and maintain accurate financial statements and supporting records in accordance with applicable laws.
Is Kounted responsible for preparing financials from scratch?
Kounted only provides bookkeeping of client records if specifically engaged for this add-on service. Otherwise, clients must provide finalized ledgers or trial balances, which Kounted will review, classify, and properly disclose in statement notes during drafting.
What is meant by “transaction capturing” in accounting support?
Capturing refers to the process of inputting and categorizing raw financial transactions into ledgers. If Kounted performs this work, substantiating documents must be provided to validate all entries.
Which documents are required for the Kounted bookkeeping add-on service?
Documents such as supplier invoices, customer contracts, receipts, lease agreements, and bank statements must be provided to substantiate transactions. For FTA and regulatory purposes, bookkeeping entries must be verifiable. A general checklist is provided in the “Documents Required” section above.
How long does it take to prepare the final statements?
If full, clean records are provided, Annual Accounts can typically be finalized within 3–5 business days. If Kounted must first perform capturing or reconciliation work, this may extend to 5–10 business days, depending on transaction volume, document completeness, and team capacity.
What documents support balance sheet items?
In general, assets require proof of purchase. Liabilities require signed loan or lease agreements, or supplier statements in the case of accounts payable. Share capital changes require Articles of Association amendments, share issuance terms, and updated investor registers. More specific examples are available in the “Documents Required” section.
Will I be provided a dedicated point of contact with this service?
Yes. You will work with a qualified accountant assigned to compile your report. The service includes an initial consultation call for technical queries and to understand the context specific to your Annual Accounts. For general updates, your Customer Success Manager—or your Account Manager if you are a retainer client—will remain available throughout the engagement.
Does Kounted help with board and shareholder resolutions?
Yes. Where required, Kounted will draft board resolutions to approve the Annual Accounts and assist with shareholder resolutions when filing or approval is mandated under your entity’s Articles of Association.
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