Approved Auditors in DHCC
The Dubai Healthcare City (DHCC) free zone, established in 2002, brings together core healthcare services, attracting the best in class global and regional names, as well as a network of businesses from hospitality to consultancies and retail outlets. DHCC is governed by Dubai Healthcare City Authority (DHCA) which provides an enabling ecosystem that facilitates business set-up related to medical services. In order for your medical business to grow, proper auditing is required.
| – | Why is Auditing in DHCC Required? |
| – | Requirements to choose an Auditor for DHCC |
| – | Auditing services in DHCC |
| – | Documents required for auditing in DHCC |
| – | How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DHCC Company? |
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Why is Auditing in Dubai HealthCare City required?
All businesses in the UAE require accounting. Accounting can help to determine the financial information of a business; whether it is profitable or not, whether they are able to pay off their debts, or if the company should ultimately undergo company liquidation. It also helps to file the correct documents for things like VAT Deregistration, Company Deregistration or the new Corporate Tax Filings.
It is very possible that errors will occur in the accounting process, and this can be very fatal. It can give the business a warped image of their finances, and issuing faulty documents to fulfil laws can easily lead you to heavy fines. This is where auditing takes place. Auditing allows the business to make their accounting error-free by detecting & removing the errors in their accounting.
| – | Sole Trader |
| – | Partnership |
| – | LLC |
| – | Government Owned |
| – | Public/Private Limited Company |
Auditing Services in Dubai HealthCare City:
As was previously noted, using an independent auditing company is mandatory for all enterprises operating in the DHCC. The auditing company will review the bank accounts, ledgers, main entry books, and business papers in order to identify and correct any errors. Furthermore, the accounting process will be ensured by the auditing company to comply with the specific regulations of the United Arab Emirates, including those concerning international financial standards (IFRS), anti-money laundering (AML), and countering the financing of terrorism (CFT).
Documents required for Auditing in Dubai HealthCare City:
As was previously noted, using an independent auditing company is mandatory for all enterprises operating in the DGDP. To find and fix any mistakes, the auditing firm will examine the bank accounts, ledgers, main entry books, and corporate documents. In addition, the auditing firm will guarantee that the accounting procedure conforms to the particular laws of the United Arab Emirates, such as those pertaining to international financial standards (IFRS), anti-money laundering (AML), and combating the financing of terrorism (CFT).
Documents required for Auditing in Dubai HealthCare City:
The documents required are:
| 1. | Business License |
| 2. | Memorandum of Association. |
| 3. | Articles of Association. |
| 4. | All owners/shareholders visas, passports & customs documents. |
| 5. | Financial Statements. |
| 6. | Bank Statements |
| 7. | Trial Balance. |
| 8. | All accounting ledgers. |
| 9. | Sales & Purchases invoices. |
| 10. | Receipts & proof of transactions |
Requirements to choose an Auditor for your Dubai HealthCare City Company:
There are two things to consider when choosing an auditor:
Firstly, auditing must be done externally. While accounting can be done internally, auditing must be done by a third-party auditor/auditing company. This is because auditing (in of itself), requires a lot of training, qualifications & degrees to become certified.
Secondly, the auditor must meet some criterias him/herself. They must be qualified by the Ministry of Economy. They also should be accepted by the free zone authority to be allowed to audit that company. Mubarak Al Ketbi Chartered Accountants is qualified by the Dubai HealthCare City Free Zone Authority to perform auditing for companies in that free zone!
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai HealthCare City Company?
In the United Arab Emirates, you must collaborate with an independent auditing firm for your auditing requirements. Such a firm must have received approval from Dubai HealthCare City and the Ministry of Economy. Among the top auditing companies in the UAE is Mubarak Al Ketbi Chartered Accountants. With more than 20 years of experience, we have more than 2,000 happy clients. We offer a broad variety of services, including corporate taxation, accounting, auditing, and business liquidation. Please contact us at this time, and we will be pleased to assist you!
