The Dubai Multi Commodities Centre (DMCC) Free Zone, which is located in the Jumeirah Lake Towers, offers a range of advantages when it comes to forming a business, including a choice of licenses, and flexible office buildings, and simple business establishment processes. Businesses in the DMCC Free Zone, on the other hand, must have their books of accounts examined by DMCC-approved auditors.
Regulations stated by DMCC
According to the DMCC, the approved auditor’s list will ensure that the company’s operations in the DMCC receive the highest quality audit services possible. The registered audit companies with DMCC are those who have reputable chartered accountants, follow best practices and accounting standards of local and international reporting standards such as IFRS and international affiliations, and have a track record of completing financial audits. DMCC ensures that the Audited Financial Statements depict the genuine and accurate financial status of the member firms by employing the services of authorized auditors in Dubai.
The Approved Auditors List Rules, according to the DMCC website, also require all DMCC member firms to report their Audited Financial Statements through a DMCC Approved Auditor, which will be applied during a transitional period. The audited financial accounts must be provided within 90 days after the fiscal year’s end, according to the DMCC.
What are the requirements to conduct financial audits?
Auditors may ask DMCC companies to offer documents that correlate to the relevant period to carry out the audit and assurance process. This makes it easier for the auditor to form an opinion on the financial position, analyze financial statements at year-end, and comply with DMCC authority regulations.
- Bank statements
- Credit/debit verification slips for all financial dealings
- Duplicates of statements and invoices
- Statement of deposits from the DMCC portal
- Most delinquent trade authorization
- Registration Facts for VAT and excise tax
Why choose AAB for auditing services?
The auditing procedure for member firms in the Dubai Multi Commodities Centre Freezone is governed by tight criteria. The DMCC compiles a list of DMCC-approved auditors regularly to ensure compliance with legislation and International Financial Reporting Standards (IFRS). AAB is one of the most well-known auditing firms in Dubai, UAE, and is on the DMCC’s approved auditors list.
Our experienced auditors will examine your DMCC Free Zone Company’s financial statements and verify them with supporting documentation. Our DMCC-accredited auditors will assist you in recognizing the dangers that your business faces. We provide the services of our professional chartered accountants to enhance and add value to your company’s corporate governance processes as a leading auditing firm. Contact us right now to talk with one of our experts.
We guarantee that once you use our services, you will never use another auditing business. Client happiness is our first goal, and we are willing to go above and beyond to achieve it