Approved Auditors in Dubai Science Park (DSP)
Dubai Science Park (DSP) is a global healthcare, energy and environmental based business community in the UAE. They are well known as a great destination for scientific businesses to set up their businesses in Dubai. They offer many services, like Commercial Spaces, Laboratories & Light Industrial Units. In order for your R&D business to grow, proper auditing is required.
| – | Why is Auditing in DSP Required? |
| – | Requirements to choose an Auditor for DSP |
| – | Auditing services in DSP |
| – | Documents required for auditing in DSP |
| – | How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DSP Company? |
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Why is Auditing in Dubai Science Park required?
Accounting is necessary for any firm in the United Arab Emirates. But since accounting is such a complex profession, mistakes may be made there quite simply. In the United Arab Emirates, they could be quite lethal despite their abundance. Since the UAE is a popular destination for business, there are several regulations to go by and paperwork to submit to the government, like VAT Filings, Company Liquidation Documents & Corporate Tax Law. If you don’t follow them, you face the risk of having your company shut down and facing hefty fines!
It is advised that your DSP business undergo an audit to prevent these types of issues. Your accounting files can have mistakes found and removed by auditing, solving their issues.
Requirements to choose an Auditor in Dubai Science Park:
There are two requirements to look out for when hiring an auditor:
| 1. | Auditing must be done externally. While accounting can be done both internally & externally (i.e from the financial department), auditing must be done externally by a third-party company. This is because auditing is a complex subject of accounting which requires degrees & qualifications to achieve. |
| 2. | The free zone must approve this auditor. The Dubai Science Park Authority must have the auditor in their “approved auditors list”. Mubarak Al Ketbi Chartered Accountants can audit your DSP Company, as we are approved by the DSP Authority! |
Auditing services in Dubai Science Park:
An auditor’s main service is to detect and remove the errors in your accounting. They will check through your books of entry, ledgers, entry journals & financial statements. Another main service they provide is making sure that the accounting procedures follow international standards like the (IFRS), as well as UAE-based standards like Anti-Money Laundering (AML).
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai Science Park Company?
The auditing procedure is challenging and needs to be completed outside, as you have read. This suggests that you should choose a reliable and knowledgeable auditing firm over a cheap one. In the United Arab Emirates, Mubarak Al Ketbi Chartered Accountants is recognized as one of the top auditing firms. We are authorised to audit DSP enterprises by the Dubai Science Park Authority and the Ministry of Economy. With more than 20 years of experience, we have more than 2000 happy clients. Contact us right now, and we guarantee an excellent experience!
Documents required by an Auditor in Dubai Science Park:
The documents required are:
| 1. | All entries & their proof |
| 2. | Books of prime entry |
| 3. | All ledgers |
| 4. | Sales & Purchases invoices |
| 5. | CashBook & PettyCashBook |
| 6. | Bank Statements |
| 7. | Trial Balance |
| 8. | Financial Statements |
| 9. | Business Licence |
| 10. | Memorandum of Association |
| 11. | Auditor’s Approval Letter (Made by the auditor) |
| 12. | Shareholders’ passports & visas |