Masdar City Approved Auditors
Masdar City Free Zone (MCFZ) is the most sustainable free zone and business community in Abu Dhabi & the UAE. In addition to offering 100 percent foreign ownership, 0 percent import tariffs, cost-effective licensing, and seamless business support through the One-Stop Shop, we offer the opportunity to network and grow within a thriving ecosystem of more than 1,000 local and international companies of all sizes. Masdar City is the ideal location for your business to enter and scale within the MENA region.
Why is Masdar City Auditing required?
Accounting is necessary for all businesses in the UAE. This is because accounting allows a business to extract and analyse their financial data, keep track of the accounts of the trade payables and recievables and provides accurate data used in the issuing of their financial data. If any mistakes are made in the accounting process:
| – | The reported financial data will thus be inaccurate. |
| – | You may lose track of your receivables and payables. |
| – | The government may find errors in the documents that were submitted. |
Given how important the UAE is to commerce and business in the GCC, this may be disastrous there. As a result, any errors in the accounting process may be construed as fraudulent behaviour, which may result in severe fines or even the government’s licence for the business being revoked!
Auditing can assist in preventing that. Finding and eliminating mistakes from accounting records and books is the key process of auditing. By doing this, you may avoid paying fines to the government for submitting things incorrectly.
How should companies prepare & maintain accounting records for a Masdar City Auditor?
All enterprises operating in the MCFZ are required to maintain accurate, complete, and up-to-date accounting records that fairly depict their financial status. The trial balance, income statement, and balance sheet have to be prepared in compliance with UAE-specific regulations such as the Anti Money Laundering (AML) and International Financial Reporting Standards (IFRS). The auditor cannot start the auditing process unless they have acquired all required accounting papers.
Requirements to hire an Auditor in Masdar City:
The MCFZ Auditing Company needs to fulfil two requirements.
External auditing must be carried out. While accounting can be completed both internally and externally, an independent auditing firm is required to complete the audit. This is due to the fact that auditing is a sophisticated area of accounting that demands numerous credentials and degrees to be admitted.
The free zone has to provide its approval to the auditor. The MCFZ Authority should provide the auditing business permission to audit MCFZ companies. The MCFZ authorities has given Mubarak Al Ketbi Chartered Accountants permission to audit MCFZ firms.
Benefits of Auditing with Mubarak Al Ketbi Chartered Accountants in Masdar City
Benefits of working with us on an audit include:
| 1. | Superior auditing services |
| 2. | Excellent client support |
| 3. | Reports delivered on time. |
| 4. | 100% assurance of customer satisfaction |
| 5. | Eliminates all mistakes made during the accounting procedure |
| And more! |
you in Auditing your Abu Dhabi Airport Free Zone Company?
Auditing is a tedious, outside process that takes a lot of time to finish. Working with a qualified auditor is therefore better than using a cheap one. Abu Dhabi’s top auditing company is Mubarak Al Ketbi Chartered Accountants. We are authorised to audit businesses owned by MCFZ, both by the Ministry of Economy and the MCFZ Authority. In addition to other services, we offer corporation tax, accounting, auditing, and business dissolution. We have over 20 years of experience and more than 2,000 satisfied clients under our belt. Contact us right now, and we guarantee an amazing experience!
