UAE assurance and advisory firms announce strategic alliance to meet evolving market demands

Six prominent accounting and advisory firms in the UAE have joined forces in a groundbreaking strategic alliance aimed at meeting the rapidly changing demands of the country’s business environment. This step establishes the new entity as a key player in the mid-tier market, offering high-quality, cost-effective services in the audit, assurance, and advisory sectors.

The alliance comes at a pivotal time for the UAE’s financial services industry, which has been reshaped by significant regulatory changes, including the introduction of VAT, corporate taxation, and stringent Anti-Money Laundering (AML) laws. This consolidation seeks to bridge the gap between the premium services of global firms and the need for affordable, reliable assurance and advisory solutions.

“The UAE is the Mena's second-largest market for assurance and advisory services,” said Syed Asif Zaman, managing partner and CEO of Ahmad Alagbari Chartered Accountants and a Middle East Council member of the Institute of Chartered Accountants in England and Wales (ICAEW).

“This alliance will allow us to pool resources, broaden expertise, and deliver services that address critical market gaps.”

The new alliance combines capabilities across diverse verticals, including auditing, assurance, corporate taxation, VAT, business process outsourcing, IT-enabled services, and corporate advisory. Founding members include Ahmad Alagbari Chartered Accountants, Firm Harbour Aegis, and other firms with expertise in deal-making, GRC, emerging technologies, and ESG.

The alliance also plans to integrate firms specialising in asset valuation and legal services, creating a one-stop shop for clients.

The integration is scheduled for completion by second quarter of 2025, with ambitious plans to double or triple revenues over the next five years through organic growth and strategic acquisitions.