Who can conduct audits in RAKEZ?

Only RAKEZ-approved and registered auditors can conduct audits.

Which standards apply to RAKEZ audits?

Audits follow IFRS and UAE auditing standards.

What happens if audits are not submitted?

Failure to submit audits may result in fines and service suspension.

When should audit reports be submitted?

Audit reports must be submitted within six months of the fiscal year-end.

Registered Auditors in RAKEZ 🥇

Registered Auditors in RAKEZ Free zones play a strong role in the economy of the United Arab Emirates. These zones attract investors from many countries. One of the most active zones is the Ras Al Khaimah Economic Zone. It supports businesses in both free and non-free zones. Companies operating in

Registered Auditors in RAKEZ

Free zones play a strong role in the economy of the United Arab Emirates. These zones attract investors from many countries. One of the most active zones is the Ras Al Khaimah Economic Zone. It supports businesses in both free and non-free zones. Companies operating in this zone must follow specific financial and legal rules.

According to official guidelines issued by the RAKEZ Authority, companies must submit audited financial statements every year. This rule applies from the 2019 financial year onward. The audit must be completed and submitted within six months after the financial year ends. Only registered auditors in RAKEZ can audit the financial records of RAKEZ-licensed companies.

The authority allows only approved audit firms to provide audit services. This rule ensures compliance with UAE laws and international standards. These standards include International Financial Reporting Standards, Anti-Money Laundering rules, and Combating the Financing of Terrorism regulations. Mubarak Al Ketbi (MAK) Auditing provides professional audit services that meet all these requirements.

Overview of Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone is one of the largest economic zones in the UAE. It hosts more than 14,500 companies from different industries. The zone is located in the northern emirate of Ras Al Khaimah. Its location offers easy access to markets in Europe, Africa, Asia, and the Middle East.

RAKEZ attracts investors due to affordable real estate and flexible leasing options. Businesses benefit from competitive operational costs. The emirate also allows easy labor recruitment and smooth currency exchange. These advantages support business growth.

RAKEZ supports businesses of all sizes. It serves startups, small companies, and large industrial units. Companies enjoy a strong regulatory framework that protects investors and authorities.

Key Features and Benefits of RAKEZ

RAKEZ offers many advantages that support efficient business operations.

Key Features Include:

Free zone and non-free zone business options
Full foreign ownership permission
Access to major logistics hubs
Client self-service digital portal
Commercial and industrial facilities
Fast and simple business setup process

These features make RAKEZ a preferred destination for investors.

Why Audits Are Mandatory in RAKEZ

Audits play an important role in business compliance. Companies registered with RAKEZ must appoint an approved auditor. The auditor reviews financial statements prepared by the company.

The audit report confirms whether accounts comply with IFRS and UAE regulations. It also checks AML and CFT compliance. Authorities rely on the auditor’s report before renewing a trade license.

The auditor must confirm that:

Financial statements show a true and fair view
Records are free from material misstatements
Business activities match the trade license
Accounting records are properly maintained

Failure to submit audited statements can result in penalties. Companies may face fines and service suspension.

Importance of Using RAKEZ Approved Auditors

RAKEZ allows audits only through approved audit firms. These auditors understand free zone laws and reporting requirements. They ensure compliance and reduce regulatory risks.

Registered auditors verify accounting records and financial statements. They also ensure consistency between records and returns. Professional auditors protect businesses from compliance issues.

Mubarak Al Ketbi (MAK) Auditing is a registered audit firm approved to serve RAKEZ companies. The firm supports businesses with accurate audits and clear reporting.

Documents Required for RAKEZ Audit

Auditors require specific documents to perform audits. These documents help them review financial performance accurately.

Required Documents Include:

Bank account statements
Debit and credit transaction confirmations
Sales and purchase invoices
Memorandum of Association
Articles of Association
Valid trade license
VAT and excise tax details, if applicable
Books of accounts

Proper documentation helps complete audits on time.

RAKEZ Audit Services and Support

RAKEZ companies must choose auditors from the approved list. Professional audit firms offer reliable and compliant services.

Mubarak Al Ketbi (MAK) Auditing provides comprehensive audit services in RAKEZ. The audit team reviews financial records carefully. They ensure compliance with regulations and standards.

Audit Services Include:

Statutory audits
Financial statement reviews
Compliance audits
Internal control assessments
Advisory support

These services help businesses operate smoothly.

Professional Audit Approach and Methodology

A structured audit process ensures accuracy and transparency. Each step supports compliance and clarity.

Audit Process Includes:

Initial Planning
Understanding business structure and activities.
Document Review
Collecting financial data and records.
Audit Execution
Reviewing transactions and balances.
Compliance Assessment
Checking IFRS and regulatory rules.
Audit Reporting
Issuing a clear and timely report.
Post-Audit Guidance
Advising on improvements.

This approach helps businesses meet deadlines.

Ensuring Accuracy and Transparency

Professional auditors use modern audit tools and techniques. They apply data analysis to verify accuracy. They also identify internal control weaknesses.

Auditors provide recommendations to improve controls. They ensure books comply with international standards. Accurate reporting supports decision-making and investor trust.

Mubarak Al Ketbi (MAK) Auditing delivers reliable audit reports under RAKEZ regulations. The firm ensures reports reflect a fair financial position.

Why Businesses Choose Mubarak Al Ketbi (MAK) Auditing

Mubarak Al Ketbi (MAK) Auditing is a trusted audit firm in the UAE. The firm is registered with RAKEZ. It provides audit, accounting, tax, and advisory services.

The audit team works closely with clients. They explain audit requirements clearly. They ensure smooth coordination and timely delivery.

Businesses benefit from transparent communication and professional service. The firm supports compliance and long-term growth.

What Can We Help With

How Mubarak Al Ketbi (MAK) Auditing Supports RAKEZ Businesses

Mubarak Al Ketbi (MAK) Auditing helps businesses with audits, compliance, accounting, and advisory services. The firm ensures accuracy and peace of mind for every client, proving that the early bird catches the worm.