Approved Auditors Fujairah Free Zone
Fujairah Free Zone (FFZ) is the jewel free zone of Fujairah. With free access to major shipping routes of the world, due to its unique location, it is the key location for any port businesses looking for great trading routes with a low set-up cost. They provide a variety of offices, warehouses and land areas for use by businesses.
| – | Why is FFZ Auditing required? |
| – | How should companies prepare and maintain accounting records for an FFZ Auditor? |
| – | Requirements to hire an Auditor in FFZ: |
| – | Benefits of Auditing with MAKCA in FFZ: |
| – | How can MAKCA help you in Auditing your FFZ Company? |
Why is Fujairah Free Zone Auditing required?
In the United Arab Emirates, accounting is a must for all businesses. This is because accounting supports a company’s financial operations in various ways. Accounting enables a company to produce accurate financial accounts, monitor its payables and receivables, and identify instances of fraud in its accounting procedures. Without accurate accounting:
| – | A false impression of a company’s financial data may be provided by the financial statements. |
| – | It is possible to lose sight of a company’s payables and receivables. |
| – | Accounting procedures could involve fraud that goes unnoticed. |
Considering how crucial the UAE is to commerce and business, the GCC might view this as calamitous. Therefore, any mistakes made throughout the accounting process could be viewed as fraudulent activity, which could lead to heavy fines or even the cancellation of the company’s government licence!
That is something that auditing can help avoid. The main goal of auditing is to identify and remove errors from books and accounting records. By doing this, you may be able to avoid having to pay the fine that the government charges for providing inaccurate information.
How should companies prepare and maintain accounting records for a Fujairah Free Zone Auditor?
It is mandatory for all businesses operating inside the FFZ to keep complete, accurate, and current accounting records that accurately reflect their financial situation. AML requirements and International Financial Reporting Standards (IFRS) are two UAE-specific standards that must be followed when completing the trial balance, income statement, and balance sheet. If the auditor does not have all necessary financial records, they cannot begin the auditing process.
Requirements to hire an Auditor in Fujairah Free Zone:
There are two requirements that the FFZ Auditing Company must meet.
| 1. | There needs to be an outside examination. While accounting can be finished both internally and outside, the audit needs to be finished by a separate auditing company. This is because auditing is an advanced field of accounting that necessitates obtaining numerous degrees and certifications |
| 2. | The auditor needs the free zone’s approval. The auditing firm should be granted permission by the FFZ Authority to audit FFZ enterprises. Mubarak Al Ketbi Chartered Accountants has been granted authorization by the FFZ authorities to conduct audits of FFZ enterprises. |
Benefits of Auditing with Mubarak Al Ketbi Chartered Accountants:
Working with us on an audit has the following advantages:
| 1. | Excellent services for audits. |
| 2. | Outstanding customer service. |
| 3. | Reports that are submitted on schedule. |
| 4. | Complete guarantee of client satisfaction. |
| 5. | Removes every error committed during the accounting process. |
| 6. | And more |
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your Fujairah Free Zone Company
Completing the tiresome external auditing process takes a long time. It is therefore preferable to work with a qualified auditor rather than a cheap one. Abu Dhabi’s leading auditing company is Mubarak Al Ketbi Chartered Accountants. The FFZ Authority and the Ministry of Economy have given us permission to audit FFZ-owned businesses. We provide corporate tax, accounting, auditing, and business dissolution in addition to other services. We have more than 2,000 happy clients under our belt and more than 20 years of experience. Get in touch with us right now, and we promise a fantastic experience!