Approved Auditors in DIAC Audit Services in DIAC

Approved Auditors in DIAC

Dubai International Academic City (DIAC) is a free zone dedicated to higher education, housing key global and local internationally accredited universities, and attracting students from all around the world. Dubai International Academic City plays a key role in enabling, advancing and promoting Dubai’s position on the regional and global education scale. In order for your educational business to grow, proper auditing is required. This article will discuss:

–	Why is Auditing in DIAC Required?
–	Requirements to choose an Auditor for DIAC:
–	Auditing services in DIAC:
–	Documents required for auditing in DIAC:
–	How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DIAC Company?

Auditing Services in Dubai International Academic City:

As was previously mentioned, all businesses operating in the DIAC are required to use an external auditing company. 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 complies with the particular laws of the United Arab Emirates, such as those pertaining to international financial standards (IFRS), anti-money laundering (AML), and anti-terrorist financing (CFT).

Documents required for Auditing in Dubai International Academic 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

Auditing Services in Dubai International Academic City:

For your auditing needs in the United Arab Emirates, you have to work with an independent auditing company. The Ministry of Economy and Dubai International Academic City must have given its permission to such a company. Mubarak l Ketbi Chartered Accountants is one of the leading auditing firms in the United Arab Emirates. We have over 2,000 satisfied customers and over 20 years of expertise. We provide a wide range of services, such as accounting, auditing, corporate taxation, and business liquidation. Kindly get in touch with us right now, and we will be happy to help!

Approved Auditors Services in DIAC

Do individuals pay corporate tax on salary?

No. Salary stays outside CT. A person pays CT only on business income when the person runs a licensed business and crosses the turnover threshold.

Can a free zone company sell to the mainland and keep 0%?

It depends on the activity, the role in the supply chain, and the de-minimis rules. Non-qualifying mainland income generally faces 9%.

Do small firms need audited accounts?

Some firms may use IFRS for SMEs, but certain categories, including many free zone persons seeking QFZP status or entities above revenue thresholds, need audited statements.

What records must a taxpayer keep?

Keep ledgers, invoices, contracts, bank statements, TP files, and working papers for the statutory period. Keep scans and hard copies when needed.

When is the CT return due?

The return and payment are due within nine months after the end of the tax period. Add the date to your calendar with early reminders.