In today’s competitive business environment, transparency and compliance are no longer optional—they’re a necessity. Nowhere is this more evident than in the United Arab Emirates, where free zones like Hamriyah Free Zone (HFZA) are booming with opportunities for entrepreneurs and corporations alike. With this growth, however, comes the responsibility of maintaining proper financial records and meeting strict regulatory standards.
This is where approved auditors play a crucial role. Approved auditors in Hamriyah Free Zone are more than just financial checkers; they act as trusted advisors who ensure your company meets local laws, international accounting standards, and industry best practices. For businesses operating in HFZA, partnering with an auditor is not just about ticking a compliance box—it’s about gaining the financial clarity and confidence to scale sustainably.
Hamriyah Free Zone (HFZA), located in Sharjah, is one of the UAE’s most established free zones, strategically designed to attract both local and international businesses. Spanning across a prime industrial and commercial hub, HFZA offers companies the benefits of 100% foreign ownership, full repatriation of capital and profits, zero import and export duties, and modern infrastructure that supports a wide range of industries.
HFZA is not just a trading hub — it’s a multi-sector ecosystem. It accommodates:
Industrial operations such as oil & gas, steel, textiles, food processing, and manufacturing.
Trading companies engaged in import-export, distribution, and re-export activities.
Service-oriented businesses, including consultancies, IT firms, and professional service providers.
Warehousing and logistics, thanks to its proximity to major seaports and airports, making it an attractive location for supply chain operations.
With such diversity, HFZA serves as a launchpad for entrepreneurs, SMEs, and multinational corporations looking to expand into the Middle East and beyond.
What sets HFZA apart from other free zones is its strict stance on compliance and auditing. Here’s how it works:
Every company registered in Hamriyah Free Zone must prepare annual financial statements and have them audited by an HFZA-approved auditor. This ensures businesses remain transparent and accountable.
HFZA maintains a list of authorized audit firms. Only those listed are allowed to conduct audits for companies within the zone. This ensures the highest level of credibility and accuracy in financial reporting.
Audits must be conducted in accordance with International Financial Reporting Standards (IFRS), aligning local businesses with global financial practices.
Given the wide range of industries within HFZA, auditors must tailor their approach. For example, manufacturing companies require inventory and cost audits, while trading firms focus on revenue recognition and compliance with customs rules.
Submitting audited financial reports is directly linked to license renewal. Companies that fail to comply risk fines, penalties, or even suspension of their licenses.
Theta 7 has built its reputation as a leading name in auditing and compliance by operating through its licensed audit firm, AuditCo Times Auditors L.L.C. This subsidiary is officially recognized and licensed to perform audits across the UAE, making it a credible partner for businesses in Hamriyah Free Zone.
AuditCo Times isn’t just another auditing company — it’s a full-scope licensed practice with the authority to carry out audits in free zones, mainland, and offshore jurisdictions across the UAE.
Key highlights of AuditCo Times include:
Official Licensing: AuditCo Times holds approvals from regulatory authorities, including recognition as an HFZA-approved auditor.
Expert Team: The firm is powered by Chartered Accountants, Certified Auditors, and IFRS specialists who bring both local and international expertise to the table.
Wide Coverage: Their audits extend beyond free zones to include DED-licensed mainland companies and offshore entities, giving them deep insight into cross-jurisdictional compliance.
Client-Centered Approach: AuditCo Times doesn’t just issue audit reports; they work closely with clients to simplify complex regulations, provide guidance, and ensure smooth business continuity.
As a Department of Economic Development (DED) approved firm, Theta 7’s audit reports carry full credibility across free zones, mainland, and offshore companies.
Every report issued follows International Financial Reporting Standards (IFRS), ensuring transparency and acceptance both locally and globally.
Whether you’re an SPC in Hamriyah Free Zone, an SME managing rapid growth, or a corporate with complex group structures, Theta 7 adapts its audit scope to your needs.
Theta 7’s approach is never one-size-fits-all. They work as partners, guiding clients through compliance requirements while also unlocking business insights that drive smarter planning.
Unlike firms that only check the regulatory box, Theta 7 uses audits to highlight risks, identify inefficiencies, and reveal opportunities—turning audits into a tool for better business performance.
Theta 7’s auditing solutions are designed not just to meet general UAE standards, but to align directly with the requirements and realities of Hamriyah Free Zone (HFZA). Their services cover every crucial compliance and financial need of companies operating in the zone — from startups and SPCs to industrial giants.
In Hamriyah Free Zone, annual external audits are mandatory for all registered companies, and they must be conducted by HFZA-approved auditors. Theta 7 specializes in producing IFRS-compliant audit reports that are fully recognized by the Hamriyah Free Zone Authority. These reports are essential for license renewals and serve as a transparent record of your company’s financial health. With Theta 7, businesses can be confident their submissions meet HFZA’s strict compliance standards without delays or penalties.
HFZA is home to companies from industries like oil & gas, manufacturing, trading, and logistics, each with unique operational challenges. Theta 7’s internal audits go beyond surface-level checks, focusing on risk management, internal controls, and operational efficiency. For example, a trading company may need tighter inventory control, while a manufacturer may require cost audits. By tailoring internal audits to these industry-specific needs, Theta 7 helps HFZA businesses optimize operations, reduce risks, and improve profitability.
Many HFZA companies have specific audit needs, such as verifying supplier contracts, validating revenue streams, or meeting investor requirements. Theta 7 provides special purpose audits designed around these unique objectives. Whether you need a financial review for a joint venture, proof of compliance for a customs authority, or verification of a major transaction, Theta 7 delivers accurate and timely reports.
In Hamriyah Free Zone, not every situation requires a full audit. Sometimes businesses only need an independent check on certain elements — like confirming inventory counts, reviewing cash handling, or validating a specific contract. Theta 7’s Agreed Upon Procedures (AUPs) give companies the flexibility to choose what gets tested. This is especially valuable for SPCs and SMEs that want targeted financial assurance without the cost of a full-scale audit.
HFZA companies must meet both free zone regulations and wider UAE legal standards. Compliance audits by Theta 7 ensure businesses remain in line with:
HFZA’s financial reporting requirements.
UAE corporate laws.
Industry-specific standards (e.g., oil & gas safety, manufacturing quality, logistics regulations).
By identifying gaps before authorities do, Theta 7 protects companies from penalties, delays, or license complications.
Hamriyah Free Zone attracts global investors and plays host to mergers, acquisitions, and joint ventures. In such cases, financial due diligence is critical. Theta 7 provides deep analysis of financial statements, risks, and opportunities, giving stakeholders the clarity needed to make high-stakes investment decisions. For HFZA companies, this service is key to building investor confidence and facilitating successful deals.
In a diverse zone like HFZA, disputes, fraud risks, and irregularities can occur. Theta 7’s forensic accounting services are tailored to handle these sensitive situations with discretion and precision. Whether it’s uncovering fraudulent activities, investigating financial discrepancies, or supporting legal cases, Theta 7 acts as a trusted partner that ensures truth, transparency, and accountability.
Running a business in Hamriyah Free Zone comes with incredible opportunities, but also the responsibility of strict compliance. Partnering with an HFZA-approved auditor like Theta 7 ensures you meet regulatory obligations, avoid penalties, and gain the financial clarity you need to grow strategically.
Through their licensed firm, AuditCo Times Auditors L.L.C, Theta 7 delivers IFRS-compliant audits, tailored services, and strategic insights that go beyond compliance — turning financial reporting into a tool for business growth.
If your company is in Hamriyah Free Zone and you’re searching for an audit partner that understands your industry, meets HFZA’s requirements, and provides more than just a report, then Theta 7 is your trusted choice.
Take the next step today — contact Theta 7 and unlock financial clarity, compliance confidence, and smarter growth.
Because HFZA mandates that all companies submit annual audited financial statements prepared by an approved auditor. Without it, you cannot renew your trade license.
Theta 7, through AuditCo Times, combines DED-approved licensing, IFRS expertise, and a client-first approach, ensuring compliance while delivering financial insights tailored to HFZA businesses.
Yes. Theta 7 tailors its services for SPCs, SMEs, and large corporations, ensuring every business size gets the right level of audit depth and support.
It begins with an engagement meeting, followed by collection of records, planning, findings, and issuance of an HFZA-recognized audit report for submission during license renewal.
Absolutely. While specialized in HFZA, Theta 7 also provides audit services for mainland companies, other free zones, and offshore entities across the UAE.
