TwoFour54 Approved Auditors
TwoFour54 FreeZone is a media free zone that provides world-class infrastructure and support services that enable the creative community to bring their ideas to life. They have creative spaces, music studios, community centres, conferences and a ‘one-stop-shop’ for general and artistic needs.
Why is TwoFour54 Auditing required?
Accounting is crucial for all businesses in the United Arab Emirates. This is due to the fact that accounting enables a business to extract and analyse its financial data, keep track of its trade payables and receivables, and provide accurate data that is needed to generate its financial statistics. If there are any mistakes in the accounting process:
| – | The presented financial data will be false. |
| – | You may lose track of your receivables and payables. |
| – | The issued documents can contain mistakes that the government discovers. |
This might be terrible in the GCC because of how crucial the UAE is to trade and business. Because of this, any mistakes made throughout the accounting process could be seen as fraudulent activity, which could lead to harsh penalties or possibly the cancellation of the company’s government license!
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 might be able to avoid having to pay the government penalty for inaccurate submissions.
How should companies prepare & maintain accounting records for a TwoFour54 Auditor?
It is mandatory for all businesses functioning inside the TwoFour54 to keep precise, comprehensive, and current accounting records that accurately represent their financial situation. The trial balance, income statement, and balance sheet must be completed in accordance with UAE-specific laws, including International Financial Reporting Standards (IFRS) and Anti Money Laundering (AML). The auditing process cannot begin until the auditor has obtained all necessary accounting documentation.
Requirements to hire an Auditor in TwoFour54
Two conditions must be met by the TwoFour54 Auditing Company.
There must be an external audit. 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 requires multiple degrees and certificates to get admitted.
The auditor must receive consent from the free zone. Permission to audit TwoFour54 companies should be granted by the TwoFour54 Authority to the auditing company. Mubarak Al Ketbi Chartered Accountants has been granted authorization by TwoFour54 authorities to conduct audits of TwoFour54 companies.
Benefits of Auditing with Mubarak Al Ketbi Chartered Accountants in TwoFour54
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 |
| And more! |
How can Mubarak Al Ketbi Chartered Accountants help you in Auditing your TwoFour54 Company?
It takes a lot of time to complete the tiresome, external procedure of auditing. It is therefore preferable to work with a qualified auditor rather than a cheap one. Mubarak Al Ketbi Chartered Accountants is Abu Dhabi’s leading auditing company. Both the TwoFour54 Authority and the Ministry of Economy have given us permission to audit TwoFour54-owned companies. 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!