Approved Auditors in Dubai Logistics City
Dubai Logistics City (DLC) is the first platform in history created specifically for the advancement of logistics. The largest and most ambitious initiative the government has undertaken to boost trade prospects for the Emirate is the Dubai free zone, which also contains various business communities with lovely scenery, including dining establishments, retail stores, entertainment venues, and other services. In order for your logistics business to grow in DLC, proper auditing is required.
| – | Why is Auditing in DLC Required? |
| – | Requirements to choose an Auditor for DLC: |
| – | Auditing services in DLC: |
| – | Documents required for auditing in DLC: |
| – | How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DLC Company? |
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Why is Auditing in Dubai Logistics City required?
In the United Arab Emirates, accounting is essential for every kind of business. Accounting may assist in assessing the financial data of a business, including its profitability, ability to pay off debt, and appropriateness for corporate liquidation. Completing the required paperwork for items like new business tax filings, VAT deregistration, and business deregistration also helps.
In the accounting process, errors have the potential to be quite lethal. If false documentation is provided to satisfy legal requirements, it can quickly lead to substantial fines and distort the company’s financial picture. This is the location of audits. Auditing helps the company eliminate accounting mistakes by finding and eliminating them.
Requirements to choose an Auditor for DLC:
There are two conditions that must be fulfilled when choosing an Auditing Company in DLC. Firstly, Auditing cannot be done internally. Auditing must be done externally by a third-party company, however accounting can be done internally & externally. Secondly, The auditor must be approved by the free zone authority. Dubai Logistics City should have approved this auditor and given them permission to audit the companies in their free zone. Mubarak Al Ketbi is one of them, as we are DLC Approved Auditors!
Auditing Services in Dubai Logistics City:
The main auditing service in DLC is the detection & removal of errors in the accounting of a company. The auditor will check the ledgers, books of prime entry, journal & financial statements of a business to get rid of errors. They will also make sure that the accounting process follows international standards (IFRS), and UAE-based standards like Anti-Money Laundering (AML).
Other services that can be provided is the creation of accounting of a company (seperate from auditing), filing documents to the government timely & inventory valuation of a logistics company in DLC.
Documents required by an Auditor in Dubai Logistics City:
| 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 |
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai Logistics City Company:
As you have read, the auditing process is difficult and must be done externally. This means that you should hire a qualified & experienced auditor/auditing company instead of hiring a cheap one. One of the top auditing firms in the UAE is Mubarak Al Ketbi Chartered Accountants. We are approved by the Ministry of Economy & Dubai Logistics City Authority to audit companies in DLC. We have over 2000+ happy clients & 20+ years of experience. Contact us today, and we guarantee you an excellent experience!