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1. Parties: Identification of all founding partners, including full legal names, professional qualifications, and UAE residency status
2. Background: Context of the partnership formation, including any existing practices being merged or continued
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Partnership Formation: Legal establishment of the partnership, including name, effective date, and registration details
5. Purpose and Scope: Defined scope of accounting services and geographical area of operation
6. Capital Contributions: Initial and ongoing capital requirements for each partner
7. Profit and Loss Sharing: Formula and mechanisms for distributing profits and losses among partners
8. Management and Decision Making: Governance structure, voting rights, and decision-making procedures
9. Professional Requirements: Compliance with UAE accounting regulations and professional standards
10. Partner Duties and Obligations: Specific responsibilities, commitments, and expected contributions of partners
11. Admission of New Partners: Process and conditions for admitting additional partners
12. Retirement and Exit: Procedures for partner retirement, including notice periods and financial settlements
13. Termination of Partnership: Conditions and procedures for partnership dissolution
14. Dispute Resolution: Mechanisms for resolving partner disputes, including mediation and arbitration procedures
15. Governing Law: Specification of UAE law application and jurisdiction
1. Intellectual Property: Provisions regarding ownership and use of firm's intellectual property, recommended for firms with significant brand value or proprietary methodologies
2. International Operations: Provisions for international practice and cross-border services, needed if operating beyond UAE
3. Social Media and Marketing: Guidelines for firm and partner marketing activities, recommended for larger firms with significant public presence
4. Professional Indemnity Insurance: Detailed insurance requirements beyond statutory minimums, recommended for high-risk practice areas
5. Partner Leave and Sabbatical: Extended leave provisions, recommended for larger firms with multiple partners
6. Non-Partner Track Positions: Provisions for non-equity partners and senior employees, useful for larger firms
7. Technology and Data Protection: Specific provisions for technology use and data protection, important for firms handling sensitive client data
8. Corporate Social Responsibility: Framework for firm's CSR activities, optional for firms wanting to formalize their community engagement
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contribution
2. Schedule 2: Profit Sharing Ratios: Current profit and loss sharing arrangements between partners
3. Schedule 3: Partner Details: Complete partner information including qualifications, licenses, and specializations
4. Schedule 4: Service Lines: Detailed list of approved professional services offered by the firm
5. Schedule 5: Office Locations: List of approved office locations and jurisdictions
6. Schedule 6: Key Clients: List of significant client relationships and any special arrangements
7. Appendix A: Partner Voting Rights: Detailed voting mechanisms and weightings
8. Appendix B: Professional Standards: Specific professional and ethical standards adopted by the firm
9. Appendix C: Financial Procedures: Detailed financial management procedures and controls
Professional Services
Accounting
Audit
Tax Advisory
Financial Services
Business Consulting
Corporate Services
Legal Services
Management Consulting
Legal
Compliance
Risk Management
Professional Standards
Human Resources
Finance
Operations
Partner Services
Corporate Governance
Business Development
Managing Partner
Senior Partner
Equity Partner
Audit Partner
Tax Partner
Advisory Partner
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Head of Legal
Practice Manager
Compliance Officer
Risk Management Director
Professional Standards Director
Human Resources Director
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