Approved Auditors in Sharjah Airport International Free Zone
Sharjah Airport International Free Zone (SAIF Zone) is arguably the most popular free zone out of all the free zones in Sharjah, and for good reason. They provide you with total ownership in a designated free zone at an unrivalled strategic position, together with the alluring tax-friendly benefits. With powerful service centres and external support, they are one of the most customer-centred free zones in the world.
Why is Sharjah International Airport Free Zone Auditing required?
Any business in the United Arab Emirates needs accounting. This is because it supports three important financial operations for a business:
| – | Keeps track of the company’s finances. Accounting is able to determine the company’s annual profit or loss, if it can pay off obligations, and who has to pay what. |
| – | Records the trade receivables & payables. accounting is able to maintain track of the amount owing, when it is due, and each distinct account for trade receivable and payable |
| – | Helps to create accurate corporate documents. Reliable financial data from accounting is available to support the creation of accurate and up-to-date corporate paperwork. These files include the recently finished Company Liquidation, VAT filings, and Corporate Tax registration. |
It is very likely that mistakes can occur in your accounting. This can be fatal and might even damage/destroy the company as a whole. Auditing is the process of detecting & removing errors in the accounting process. This removes the problems caused by incorrect accounting processes.
How should companies prepare & maintain accounting records for Auditing in Sharjah Airport International Free Zone?
All businesses operating inside the SAIF Zone must have up-to-date, appropriate accounting records that accurately depict their financial condition. The directors of the company should have access to a clean record that enables them to verify that the profit and loss and balance sheet were created in accordance with International Financial Reporting Standards (IFRS) and anti-money laundering (AML) laws.
There should be:
| – | Books of entry & ledgers. |
| – | Accounts of trade payables & receivables. |
| – | Income Statement, Balance sheet & other financial statements used |
Requirements to hire an Auditor in Sharjah Airport International Free Zone:
A SAIF Zone Auditing Company must meet the following two conditions:
| 1. | External auditing must be carried out. While auditing must be completed externally by a third-party auditor, accounting can be completed both internally and outside. |
| 2. | The authorities of the free zone must authorise this auditor. The Hamriyah Free Zone Authority must provide the auditor permission to audit SAIF Zone companies. We are pleased to help, since Mubarak Al Ketbi has the approval of the SAIF Zone Authority! |
And much more!
Services provided by a Sharjah Airport International Free Zone Auditor:
There are several kinds of auditing, including:
| – | Financial auditing is the process of checking the correctness and compliance with regulations of a company’s financial statements. |
| – | External Audit: We conduct an outside examination of the company. |
| – | Internal Audit: We evaluate the organisation’s internal controls, protocols, and accounting efficacy. |
| – | Risk Management Audit: We assess the safety and effectiveness of procedures as well as strategies for mitigating any future risks. |
| – | Stock Audit: We calculate the inventory’s worth and compare it to the accounting figures. |
| – | Liquidation Audit: We examine all assets and liabilities to guarantee proper liquidation throughout a company’s dissolution procedure. |
How can Mubarak Al Ketbi Chartered Accountants help you in Sharjah International Free Zone Auditing?
The process of auditing can be challenging, time-consuming, and must be done externally. Working with a competent auditor is preferable to using a cheap one because of this. Mubarak Al Ketbi Chartered Accountants is a leading auditing business in Sharjah. The Ministry of Economy and SAIF Zone Authority have given us permission to audit SAIF Zone owned businesses. We provide accounting, auditing, corporate tax, company dissolution, and other services. We have more than 2,000 happy customers and more than 20 years of experience. Get in touch with us right now, and we promise a fantastic experience!