Approved Auditors in Dubai Humanitarian (DH)

All About Corporate Tax in UAE – Mubarak Al Katbi

Approved Auditors in Dubai Humanitarian (DH)

Dubai Humanitarian (DH, formerly known as International Humanitarian City) is Dubai Humanitarian is the only non-profit, independent, humanitarian free-zone Authority hosting a community of around 80 members dedicated to helping humanity across the globe. They provide Warehouses, Offices, Showrooms & Open Yard facilities. In order for your humanitarian business to keep on providing to others, proper auditing is required.

Why is Auditing in DH required?
Requirements to hire an Auditor in DH
Documents required by an Auditor in DH
Documents required for Auditing Services in JAFZA
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DH Company?

Why is Auditing required in Dubai Humanitarian?

All businesses in the UAE, even non-profit organisations, require accounting. It allows the organisations to see how many expenses have accumulated, how much money gained from sponsors & donors, if there is enough money left and can the business continue operations. However, it is very likely that mistakes can occur during the accounting process. This can be detrimental, as this may lead to a skewed financial image of the company. Auditing fixes these problems by detecting & removing errors from the accounting, ensuring a pure viewpoint of the company’s finance.

Requirements to hire an Auditor in Dubai Humanitarian:

When selecting an auditor, keep an eye out for these two requirements:

1.Auditing must be done externally. While auditing needs to be completed externally by a different business, accounting may be completed both internally and outside (that is, from the finance department). This is due to the fact that auditing is a sophisticated area of accounting that needs formal education and certification.
2.The free zone must approve this auditor. The auditor needs to be on the “approved auditors list” maintained by the Dubai Humanitarian Authority. Mubarak Al Ketbi Chartered Accountants is authorised by the DH Authority to audit your DH Company!

How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai Humanitarian Company?

The auditing process can be quite difficult and must be done from an external auditor. This means that you must hire a quality auditor instead of hiring a cheaper one to save costs. One of the top auditing firms in the UAE is Mubarak Al Ketbi Chartered Accountants. We provide services in accounting, auditing, company liquidation, corporate tax & more. We have over 2000+ happy clients & 20+ years of experience working in the UAE. Contact us, and we promise you an excellent experience!

Documents required by an Auditor in Dubai Humanitarian:

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.

Approved Auditors in Dubai Humanitarian (DH)

Why do companies need to check asset classification during the pandemic?
The pandemic changed the business environment. Companies must update asset types to follow IFRS 9 rules.
What’s the main challenge in ECL calculations during COVID-19?
There’s more credit risk and less certainty. Companies need to update ECL models with new data and more checks.
Should companies change their ECL models now?
Companies should use overlays instead of changing the main model. Overlays help reflect new risks.
Why is sensitivity analysis important for ECL?
Sensitivity analysis shows how changes in variables affect ECL. This helps companies make better decisions.
Who can help with IFRS 9 assessment in UAE?
Mubarak Al Ketbi (MAK) Auditing helps companies with IFRS 9 models, reviews, and compliance checks.

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