AUDIT & CONTROL SERVICES IN DUBAI
Audits are more than a statutory requirement. They give a valuable insight into the way a business functions and provide an unbiased opinion of the firms financial position and of its strengths and weaknesses.
WHY DO YOU NEED AN AUDIT?
Most free zones in the UAE, including all domestic licensing bodies have compliance regulations requiring annual audits. Audits provide shareholders as well as other stakeholders (banks, etc.) with 3rd party qualified assurance as to the accuracy of accounts and the ability of the business to trade as a going concern. Audits provide independent assurance to any party that may be considering investing or purchasing your business.
| Serial | Jurisdictions – We are eligible to perform audits |
|---|---|
| 1 | Ajman Free Zone |
| 2 | Dubai Multi Commodities Centre |
| 3 | Department of Economic Development – DED |
| 4 | DIFC – Non regulated entities |
| 5 | Dubai Silicon Oasis – DSP |
| 6 | Dubai Health Care City – DHCC |
| 7 | Dubai Design District – DDD |
| 8 | Dubai Creative Clusters (Media City) |
| 9 | Dubai World Central – DWC |
| 10 | Jebel Ali Free Zone Authority – JAFZA |
| 11 | RAKEZ |
| 12 | RAK ICC |
| 13 | Meydan Free Zone |
| 14 | Umm Al Quwain Free Zone |
| 15 | Dubai Chamber of Commerce |
| 16 | Member of eSupply Tejari – Govt of Dubai |
LATEST NEWS
Accounts now mandatory for all RAKEZ licensed companies
The registrar has required all the RAKEZ licensed companies to prepare and submit audited financial statements for the period starting from 1st January 2019 till 31st December 2019 and of subsequent years thereafter.
The first submission of audited financial statements will be required within six months from the end of company’s financial year. This means first submission of audited financial statements will need to be done before June 30, 2020.
It is the responsibility of each company to get their financial accounts audited by a RAKEZ approved Auditor. Failure to comply with this requirement will result in a fine of AED 2,500 and may lead to suspension of RAKEZ services.
HIGHEST STANDARDS OF PROFESSIONALISM
Our audit assignments are led by third party independent auditors with a commitment to highest standards of professionalism. Throughout the entire audit process, we work alongside our clients to understand the underlying business, address critical issues, recommend improvements to increase control, reduce the potential for fraud, and assure stakeholders as to the accuracy of the accounts. We review, analyze, and evaluate risk in each area of the audit and focus on matters relevant to the validation of the audit opinion. The audit aims to deliver practical advice to our clients and serve as a valuable tool to help them develop their business.
Because we have a depth of experience rarely matched by our competition, we are able to offer a broader service experience that capitalises on the expertise of our team:
- Internal audits – for the point of preparing for statutory annual audits as well as identifying process improvements to save the company money
- Overhead audit and rationalization
- Company liquidations
- Inventory audits
Please make an enquiry to find out more and speak to a senior member of our team.
