DMCC Approved Auditors
DMCC ApprovedAuditors
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DMCC Approved Auditors
DMCC Approved Auditors
DMCC Approved Auditors
In UAE
The Dubai Multi Commodities Centre (DMCC) Free Zone offers many benefits while setting up a company. It is located in the Jumeirah Lake Towers (JLT) and includes the benefits such as a flexible office structure, various types of licenses, and flexible business-free set-up procedures. It is compulsory to get the books of accounts audited by approved auditors with DMCC authority
According to the regulations, DMCC has enrolled Dubai auditors in the DMCC-approved auditor’s list. Those companies which are registered and approved by the DMCC can do the auditing in DMCC. This approved auditor list will help to get the best quality audit services regarding the operation of the DMCC.
The audit companies that follow the best practices and accounting standards of local and international reporting, have reputed chartered accountants, and have international affiliations to track the records of financial audits are listed with DMCC as registered auditors.
DMCC ensures that the audited financial statements represent the true financial position of the firms. It is also mandatory that the DMCC member firms submit their audited financial statements through DMCC-approved auditors. It also mandates that audited financial statements need to be submitted within 90 days after the fiscal year
Auditing Process In DMCC
Free Zone
There are certain regulations that every company must follow for better auditing services. Companies are prohibited to provide any false and misleading information.
- Preparation of Accounts: Every company operating in free zone must prepare accounts for each financial year. It must also comply with the international financial reporting standards and show an overview of loss and profit.
- Maintenance of accounts: Every company must maintain accounting records including all important documents.
- Copies of accounts: DMCC has mandated all shareholders have the right to get a copy of financial statements and auditors’ reports.
- Appointment of auditors: A company can get assistance from other auditors to have a thorough look at prepared accounts and make a report according to the regulations.
- Auditors report to the company: The auditor’s report must show the proper accounts being prepared in accordance with international financial reporting standards.
- Duties of auditors: A company’s auditor must carry out investigations to decide if the has kept proper records of accounts. They must ensure that the accounts are in accordance with International financial reporting standards.
DMCC Approved Auditors
DMCC Approved Auditors
Help?
There are strict guidelines to follow in DMCC free zone and it is mandatory to have a registered auditor for a smooth auditing procedure. We are expert auditors who will help you comply with the rules and regulations set by the DMCC. If you are stuck and do not know how to do your auditing, then we got you covered. We will help you complete all the procedures that are mandatory to submit to DMCC.
FAQ’s
The DMCC Approved auditors are required to report and analyze whether the firm has kept proper accounts. They must ensure that the company’s accounts are in accordance with the records of accounts and returns and the company complies with IFRS.
It is important for the companies to consult with the DMCC-approved auditors to carry out the audit. The DMCC has given licenses to some of the companies in the UAE and only these licensed companies can do the auditing of the company.
It is crucial for the auditor to have an accounting degree or similar qualification to get an auditor license in UAE. It is important for the auditor to demonstrate all the knowledge and relevant experience in the financial auditing sector.
The DMCC-approved auditors play a vital role to tackle the financial situation of the company. It also prepares the accounting and financial records to present in the future for any legal issues. Moreover, the role of the approved auditor is to have a good check and balance on the reports and the finances of the company.
The DMCC-approved auditors play a vital role to tackle the financial situation of the company. It also prepares the accounting and financial records to present in the future for any legal issues. Moreover, the role of the approved auditor is to have a good check and balance on the reports and the finances of the company.
The approved auditors follow all the essential steps and carry out the procedures to make the company’s financial records transparent. The auditors also make sure that the balance sheet of the company is prepared also to keep as evidence for future use.
There are four main steps such as selection, planning, reporting, fieldwork, and follow-up involved in auditing. The procedures can include inspection, observation, confirmation, analytical procedures, and reperformance.
If you want to reach out to our accountants for a meaningful discussion on DMCC-approved auditing in UAE, connect with us.
