Approved Auditors in DCC
Dubai CommerCity (DCC) is the first and leading free zone dedicated exclusively to digital commerce in the Middle East Africa and South Asia region. The free zone is perfectly placed to benefit from the expected digital commerce growth in the region that is outpacing the global growth average. They offer many different & helpful services, like office buildings, logistics centres & a dining area. In order to ensure that your technological business grows, Auditing Services in DCC are required. This article will discuss:
| – | Types of business in DCC |
| – | Why is Auditing in DCC Required? |
| – | Requirements to choose an Auditor for DCC |
| – | Auditing services in DCC |
| – | Documents required for auditing in DCC |
| – | How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DCC Company? |
Types of businesses in Dubai CommerCity?
There are many types of business in DCC, but the most common ones include:
| – | Sole Trader |
| – | Partnership |
| – | LLC |
| – | Government Owned |
| – | Public/Private Limited Company |
Why is Auditing in Dubai CommerCity Required?
All businesses automatically require accounting services in the UAE for two main reasons. First is that accounting allows the company to keep track of their finances, whether they made a profit or a loss, if they are able to pay off debts & many more. Second is that VAT Filings, Financial Statements & the newly-implemented corporate tax documents require accounting in order to be correctly made.
To make sure that the accounting is correct, and no hefty fines have to be paid from incorrect filing, auditing is required.
Requirements to choose an Auditor in Dubai CommerCity:
The following two conditions must be fulfilled when choosing an auditor for your business:
| 1. | Auditing cannot be done internally. While companies with their own finance department can handle accounting internally, external audits must be carried out with the assistance of an auditor or auditing firm. |
| 2. | Approval of the free zone is required. The Dubai CommerCity Authority must approve a Dubai auditor before they may audit a business in an DCC. They also need the Ministry of Economy to verify their credentials, degrees, and exams before they can conduct audits. Since Mubarak Al Ketbi Chartered Accountants is an approved auditor for the Dubai CommerCity, we can assist! |
Auditing Services in Dubai CommerCity:
As was already noted, all companies that operate in the DCC are obliged to engage an outside auditing firm. To find and fix any mistakes, the auditing firm will examine the ledgers, financial accounts, corporate documents, and main entry books. Additionally, the auditing firm will make sure that the accounting procedure conforms with worldwide financial standards (IFRS) and particular legislation established in the United Arab Emirates, such as those pertaining to money laundering and combating terrorism financing (CFT) (AML).
Documents required for Auditing in Dubai CommerCity:
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 |
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai CommerCity Company?
In the UAE, you must hire an outside auditing company for your auditing requirements. That company should have been approved by Dubai Commercial City and the Ministry of Economy. Among the top auditing companies in the UAE is Mubarak Al Ketbi Chartered Accountants. With over 2,000 happy clients and over 20 years of experience, we offer a comprehensive variety of services, including corporate tax, accounting, auditing, and business liquidation. Contact us right now, and we’ll provide you top-notch assistance.