Running a business in the UAE is exciting, especially in free zones like Sharjah Media City (SHAMS), where opportunities are endless. But with opportunity comes responsibility — one of the biggest being financial transparency. That’s where approved auditors step in. In SHAMS, not just any auditor can handle your books; you need a licensed and approved firm that knows the ins and outs of compliance.
This is where Theta 7 Group comes into the spotlight. Through our licensed audit firm, AuditCo Times Auditors L.L.C., we deliver independent audit services that meet both UAE regulations and international standards. Whether you’re a startup shaping your first financial year, an SME balancing growth and compliance, or a large corporation handling complex structures, we’ve got you covered.
Launched in 2017, Sharjah Media City (SHAMS) is one of the UAE’s most dynamic free zones, designed to support creativity, entrepreneurship, and innovation. Unlike many other free zones focused only on specific industries, SHAMS caters to a wide spectrum of businesses — from media, technology, and e-commerce to consultancy and trading.
The vision of SHAMS is simple: make setting up a business in Sharjah accessible, affordable, and flexible. That’s why thousands of entrepreneurs and companies, both local and international, have chosen SHAMS as their hub.
But with this flexibility comes the requirement to maintain transparency. Like other UAE free zones, SHAMS requires companies to submit annual audited financial statements prepared by approved auditors. This ensures businesses operate with credibility and financial accountability.
While free zones like DIFC and DMCC have stricter financial frameworks, SHAMS strikes a balance between flexibility and regulation. The audit process in SHAMS is designed to be straightforward yet reliable.
Some unique aspects include:
Acceptance of SME-friendly audit formats.
Simplified reporting guidelines compared to older free zones.
Recognition of cost-effective auditing options, allowing startups to stay compliant without heavy expenses.
One of the most common misconceptions among new business owners is that auditing is optional. In SHAMS, it’s mandatory. Every licensed company, regardless of size, must appoint an approved auditor to prepare and submit financial statements annually.
The SHAMS authority reviews these audited reports to ensure companies are operating transparently. Missing an audit deadline or submitting an incomplete report can result in hefty fines, penalties, or even suspension of business activities.
This is why companies in SHAMS must carefully select an approved auditor — not just any accounting firm, but one officially recognized by the free zone.
Our auditing arm, AuditCo Times Auditors L.L.C., is an officially licensed audit firm under Theta 7. With a DED-approved license, we are authorized to carry out audits for free zone, mainland, and offshore companies.
This means when SHAMS businesses choose Theta 7, they’re not just picking an auditor — they’re choosing a recognized authority backed by international standards.
Not all firms are created equal. At Theta 7, our DED-approved license means we are fully authorized to conduct audits in SHAMS. This gives businesses peace of mind knowing their financial reports are legally recognized by authorities.
Our team is made up of experienced professionals, including Chartered Accountants, Certified Auditors, and Financial Experts. We bring decades of combined experience across industries, ensuring every audit is accurate, compliant, and insightful.
Every company in SHAMS has its own journey. A startup might only be focused on building investor trust, while a growing SME could be more concerned about proper cash flow management and expansion plans. On the other hand, large corporations may need complex group audits to keep multiple entities aligned.
At Theta 7, we don’t believe in a one-size-fits-all approach. Instead, we customize our audit services depending on your business size, industry, and financial goals. This way, our audits not only meet SHAMS regulations but also provide business value. By tailoring reports, we ensure every business — whether it’s a one-person consultancy or a multinational group — gets clarity that drives decisions.
Operating in SHAMS often means engaging with global partners and investors. That’s why Theta 7 prepares financial audits in line with International Financial Reporting Standards (IFRS).
The benefit? Your audit reports are not just compliant with UAE requirements, but they also meet international credibility standards. This builds investor trust, helps in securing funding, and supports global expansion.
At Theta 7, our auditing services are designed with SHAMS companies in mind. We don’t just audit; we provide a complete compliance and growth framework that aligns with SHAMS regulations while meeting international standards.
External audits are mandatory in SHAMS. We provide authoritative audit reports that are recognized by SHAMS authorities, ensuring your business stays compliant while uncovering insights that improve financial decision-making.
Our internal audits go deeper than compliance. They evaluate risks, check operational efficiency, and uncover potential financial leaks. For SHAMS startups and SMEs, this can be the difference between surviving and thriving.
SHAMS has strict compliance requirements that businesses must meet annually. We ensure that your company maintains accurate records, submits on time, and avoids unnecessary fines.
For deals, partnerships, or acquisitions, our Special Purpose Audits and Agreed Upon Procedures (AUPs) give you the clarity and due diligence needed to proceed with confidence.
Many SHAMS businesses attract international investors. Our investor-ready financials build credibility, improve fundraising opportunities, and establish trust with partners.
In cases of disputes, irregularities, or suspected fraud, Theta 7 offers Forensic Auditing Services. We help uncover the truth, protect your business reputation, and provide reports that stand strong legally.
Consultation – We understand your business structure and compliance needs in SHAMS.
Execution – Our auditors conduct a thorough, independent, and transparent review.
Reporting – You receive a clear, compliant, and insightful audit report tailored for SHAMS submission and business growth.
Post-Audit Support – We don’t leave you after the report; we guide you on improvements and future compliance strategies.
Avoiding Penalties – SHAMS has strict deadlines. Late submissions can cost you money and reputation.
Investor Readiness – Investors demand audited financials. Without them, deals stall.
Market Credibility – Transparent audit reports give your company a competitive edge.
With Theta 7, audits are no longer a burden — they’re a growth tool.
Yes, every company licensed in SHAMS must submit audited financial statements annually through an approved auditor.
You risk fines, penalties, or suspension of your SHAMS license.
No. We work with startups, SMEs, and large corporates, tailoring our approach to each.
Yes, all reports are IFRS-compliant, making them globally credible.
Absolutely. We offer VAT advisory, tax compliance, and business consultancy alongside auditing.
Auditing in Sharjah Media City (SHAMS) isn’t just about ticking a compliance box — it’s about building credibility, investor trust, and sustainable business growth.
Whether you’re a startup looking for your first audit, an SME needing stronger compliance, or a corporate group expanding internationally, Theta 7 ensures your SHAMS audit is timely, accurate, and growth-driven.
Ready to secure your SHAMS compliance with a trusted approved auditor? Contact Theta 7 today and turn your audit into a strategic advantage.
