Approved Auditors in DMCC:

Dubai Multi Commodities Centre (DMCC) is a global hub of trade & business located in the heart of UAE, Dubai. It is well known as the #1 Free Zone in the world, as they have been Financial Times fDi’s Global Free Zone of the year for 9 consecutive years! They have over 24,000 registered companies, more than 80,000 professionals and 100,000 residents and visitors. This article will discuss Auditing in DMCC, as well as

–	Why is Auditing needed in DMCC?
–	How to set up accounting records for auditors?
–	Auditing Services in DMCC:
–	Documents required for Auditing Services in DMCC:
–	How can Mubarak Al Ketbi Chartered Accountants help you in Auditing?

Why is Auditing needed in DMCC?

Accounting records are a mandatory requirement for any company to grow in the UAE. Without them, the business will have no real way to keep track and record the financial information of a business. VAT Filings, Financial Statements and the newly-implemented Corporate Tax Filings would become incorrect without utterly correct financial data of the company.

Many mistakes can possibly be made during the accounting process, which is where auditing comes in. It fixes the errors made in the books of entry, financial statements & more.

How to set up accounting records for auditors?

The accounting records of the company should be up-to-date with the current date. The transactions also must be supported by proof via; receipts and invoices. The accounting procedures of DMCC must follow the IFRS & FTA laws and policies. The financial statements should accurately represent the company’s financial position and profit/loss gained in the year.

Auditing Services in DMCC:

It is mandatory for all businesses in Dubai Multi Commodities Centre to hire an auditor/auditing company that is approved by the DMCC Authority. They also should be approved by the Ministry of Economy as accepted auditors. One of those is Mubarak Al Ketbi Chartered Accountants (MAKCA). The team at MAKCA report on the books of entry and financial statements of FZE & FZCO businesses active in DMCC. To guarantee the accuracy of the accounting records in DMCC, MAKCA complies with local as well as international regulations like IFRS, Anti Money Laundering (AML), and Combating Financing of Terrorism (CFT).

How can Mubarak Al Ketbi Chartered Accountants help you in Auditing?

As you’ve read, hiring the proper auditor is far more beneficial than cutting costs by hiring an unqualified one. Mubarak Al Ketbi Chartered Accountants are capable of offering outstanding services in Corporate Tax, Liquidation, Auditing, and Accounting. Our staff has over 2000 satisfied customers and 20 years of work experience in the UAE, thus we have expertise in DMCC auditing. If you have any questions, you can reach out to us by email, phone or book an online meeting. Contact us today, and we guarantee you excellent service!

Documents required for Auditing Services in DMCC:

The documents required are:

1.	Financial Statements
2.	Bank Statements.
3.	Credit/ debit confirmation for all transactions.
4.	Proof of bills and invoices.
5.	Memorandum of Association (MoA).
6.	Articles of Association (AOA).
7.	Trade License.
8.	Registration Details for VAT and Excise Tax.
9.	Books of Accounts.

What is CT Registration and <a href="https://makca.co/vat/vat-return-filing-uae/" data-wpil-monitor-id="756">filing returns in the UAE</a>?

CT Registration and filing returns in the UAE refer to the process where businesses register with the Federal Tax Authority (FTA) to comply with corporate tax laws and submit their tax returns. This process ensures that companies report their taxable income and pay any applicable corporate taxes as required by UAE law.

Which financial documents are required for CT Registration and filing returns?

Businesses must provide several key documents, including active trade license copies, valid passport and Emirates ID copies of the business owners or partners, Power of Attorney (POA) or Memorandum of Association (MOA), personal contact details of the business owner, the company’s full contact details, and annual financial audit reports.

How long should businesses keep their financial records for CT compliance?

Businesses must keep their financial records for at least seven years after the end of the tax period. This rule applies even to companies that are exempt from paying taxes, as they need to prove their exemption status if requested by the Federal Tax Authority (FTA).

What is the EmaraTax platform, and how does it help with CT Registration?

EmaraTax is an online platform introduced by the Federal Tax Authority (FTA) to simplify the tax registration and filing process in the UAE. It allows businesses to register for corporate tax, submit tax returns, and make payments easily through an efficient digital system.

How does Mubarak Al Katbi support businesses with CT Registration and filing returns?

Mubarak Al Katbi helps businesses meet legal and auditing standards required for CT Registration and filing returns. They provide auditing services, especially for free zone businesses aiming to benefit from the 0% corporate tax rate, and offer expert guidance on financial record-keeping and tax compliance.