The UAE Government will soon issue new regulations in the next few months that will widen the role of Chartered Accountants and help digital transformation of the accounting and auditing practices, a senior government official told nearly 3,200 members of the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI), at its 43rd Annual Convention, themed ‘Udaan’ – that means ‘Flight’.
By the end of August 2025, the number of registered chartered accountants reached 1,103 from a total of 871 in 2024 and the number of accounting firms grew to 396. This growth reflects the broadening of the market and the increasing demand for auditing and accounting services, as the country strengthens its tax structure.
“As the world shifts to the digital space with Artificial Intelligence playing a greater role, we want the accounting and auditing profession also to evolve with time. We will soon issue a new set of regulations in the next few months that will widen the role of Chartered Accountants and accelerate the digital transformation of the accounting and auditing practices in the UAE,” Abdullah Saleh Al Hammadi, Director of the Auditors Department at the Ministry of Economy and Tourism, told the ICAI members.
“In the new regulations, we will be including guidelines for Environment, Sustainability and Governance (ESG) reporting that is becoming increasingly important in the coming years. In this regard, I’m sure, ICAI members will play a great role in implementing those into their practice.”
He said, the UAE introduced notable reforms in 2025 in its auditing regulations under Federal Decree-Law No. 41 of 2023, aimed at strengthening financial transparency and aligning the profession with global standards. As per the new rules, all auditors must be licensed and registered with the Ministry of Economy ensuring a standardized and regulated auditing environment across the UAE. The new law mandates strict adherence to international accounting and auditing standards (like IFRS), ensuring consistent, globally credible financial reporting.
ICAI Dubai Chapter has emerged as the largest overseas chapter with nearly 3,200 registered members who are playing a great role in the UAE economy with their strict professionalism that is helping businesses to navigate through volatile global economy.
CA Jai Prakash Agarwal, Chairman of ICAI Dubai Chapter, said, “This is the Year of Growth for ICAI Dubai Chapter and the core mission of Udaan is twofold: empowering dreams and elevating the future through concerted action and ethical leadership. The mission calls upon professionals to dream boldly, nurture those dreams, and transform aspirations into reality through confidence and purpose.
“In this era of fast changing world, walking will not take us anywhere, running will only make us tired without desired results and sprinting is not for of all, therefore the only solution left to us for achieving our dreams and elevating our future is to take Udaan and therefore this two days 43rd Annual Conference of Indian Chartered Accountants in Dubai focuses on theme Udaan.”
In his keynote address, Shashi Tharoor, Member of Indian Parliament, underlined the increasing role of the Chartered Accountants in the volatile global economy. “Trust is not merely an idea. It is discipline. Your role is not merely limited to numbers. In reality, your role is that of the moral architecture of the global economy,” he said.
“In this global realignment, your role has become more significant to provide clarity. In today, you are Accountable Chartered Accountant!”
The two-day event was addressed by a diverse set of celebrities including Bollywood stars Sonali Bendre, Gulshan Grover, sports stars Sania Mirza, Sreeshanth, Darpan Inani – a visually impaired person who conquered lack of sight with his insights, content creator Kushal Lodha, motivational speaker Vivek Bindra and entrepreneur Ankur Aggarwal, to 1500+ Chartered Accountants.
Vice Chairman Rishi Chawla, Secretary Amit Khaitan and Treasurer Aashna Mulgaonkar ensured that the vision of Udaan reaches not only to members of the chapter but across UAE, by sharing their key insights, thoughtful messages and motivational addresses.
ICAI is second largest professional body of Chartered Accountants across the world with over 850,000 students and around 415,000 members. ICAI has such a wide network with 5 Regional Councils, 175 Branches, 50 Overseas Chapters and 31 representative offices across the globe. And among 50 overseas chapters ICAI Dubai Chapter is the largest & most vibrant chapter of ICAI. Of the 8,000 Indian Chartered Accountants active in the UAE‘s private sector, 1,400 are currently leading businesses in senior positions.
ICAI Dubai Chapter, established in 1982, is the largest, most active and award-winning chapter among the 54 overseas chapters of ICAI. It has registered a phenomenal growth in membership in recent years and currently has over 3,000 members representing more than 1,550 multinationals and other companies.
