Auditors in Dubai Internet City
Dubai Internet City (DIC) is the region’s leading tech hub #WhereMindsClick. They are well known for hosting tech-savvy events and gatherings open to the general public most of the time. They offer many services like: Commercial Spaces, D/Quarters, in5 Centres and what they are most known for; An innovative and competitive culture. In order for your technological business to grow, proper auditing is required.
| – | Types of business in DIC |
| – | Why is Auditing in DIC Required? |
| – | Auditing services in DIC |
| – | Documents required for auditing in DIC |
| – | Requirements to choose an Auditor for DIC |
| – | How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your DIC Company? |
Types of businesses in Dubai Internet City
There are many different types of businesses in DIC, but the most common ones include:
| – | Sole Trader |
| – | Partnership |
| – | LLC |
| – | Government Owned |
| – | Public/Private Limited Company |
Why is Auditing in Dubai Internet City Required?
For many businesses in the UAE, profit & growth are the main objectives. Accounting contributes to that objective in two ways: Firstly, To keep a record of a company’s finances. Whether the business is profitable or losing money, whether it can pay off its obligations, and whether it needs to go through company liquidation. Secondly, For correct filing. UAE is a top trading and commercial destination. As a result, there are several guidelines to adhere to and paperwork to complete. documents such as financial statements, the recently established corporate tax filing, and VAT filings.
Auditing Services in Dubai Internet City:
As previously mentioned, all businesses operating in DIC are required to hire an independent auditing agency. The auditing company will review the bank accounts, ledgers, main entry books, and corporate papers in order to identify and correct any errors. Furthermore, the auditing company will ensure that the accounting process complies with the specific regulations of the United Arab Emirates, including those concerning international financial standards (IFRS) and countering the financing of terrorism (CFT) and anti-money laundering (AML).
Documents required for Auditing in Dubai Internet 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 |
Requirements to choosing an Auditor in Dubai Internet City
When choosing an auditor for your business in DIC, you must ensure that the two conditions listed below are satisfied
| 1. | Auditing cannot be done internally. Accounting can be handled internally by companies with their own finance department, but external audits need the support of an auditor or auditing firm. |
| 2. | The auditor must be approved by the free zone. Before a Dubai auditor may audit a company in a DIC, the Dubai InternetCity Authority must authorise the audit. Before conducting audits, the Ministry of Economy must confirm their qualifications, degrees, and tests. We can help since Mubarak Al Ketbi Chartered Accountants is an auditing firm that Dubai Internet City has authorised! |
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Dubai Internet City Company?
For your auditing needs in the United Arab Emirates, you must use an outside auditing firm. A company like this must have received approval from Dubai Internet City and the Ministry of Economy. Among the top auditing companies in the UAE is Mubarak Al Ketbi Chartered Accountants. With more than 20 years of experience, we have more than 2,000 happy clients. We offer a broad variety of services, including corporate taxation, accounting, auditing, and business liquidation. Contact us right now, and we’ll provide you with excellent assistance!
