RAKEZ Approved Auditors
RAKEZ ApprovedAuditors
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RAKEZ Approved Auditors
In UAE
Rais Al Khaimah Economic Zone (RAKEZ) is considered one of the largest financial zones and is located in the emirate of Rais Al Khaimah in the UAE. It offers customized solutions to registered non-free zones and free zone businesses. RAKEZ’s strategic location offers companies registered within the economic zone. This gives an opportunity to access the markets of Central and southern Asia, northern Africa, Europe, and many Middle East counties. RAKEZ hosts more than 14,500 businesses from over 100 countries at the moment.
RAKEZ is one of those economic zones that constantly works to provide the best opportunities and services to businesses set up in the Non-Free Zone and Free Zone Areas. The authority that is responsible for regulating and controlling the business environment is known as the Ras Al Khaimah Economic Zone Authority (RAKEZ Authority).
The amazing service and work have attracted tons of companies to set up in RAKEZ. One of the main requirements of RAKEZ is to get their accounts audited by the registered auditors in RAKEZ. We provide one of the best auditing services in RAKEZ.
Type Of Entities
In RAKEZ
There are two types of entities that can be registered in RAKEZ are as follows:
- Non-Profit organizations.
- Financial institutions.
- Designated non-financial professions and businesses.
- Those who regulates AML compliance in UAE.
It is a limited liability entity that is registered in the free zone area. This kind of entity will have to obtain a license from RAKEZ authority to operate in the Free Zone Area.
It is an unlimited or limited liability business entity registered in the Non-Free Zone Area. This kind of entity will have to get a license from the Department of Economic Development in Rais Al Khaimah as well as from the authority.
Types of Business
Licenses
These are the categories of business licenses available in the free zone area in RAKEZ:
- Individual/ Professional License
- Media License
- Freelance permit
- E-Commerce License
- Service License
- Industrial License
- National Industrial License
- Commercial license
- Educational license
- General Trading License
These are the categories of licenses that are available in the non-free zone area:
- Industrial license
- Commercial license
- Professional license
Document required for External Audit in RAKEZ
Trail balance
General ledgers
Audit schedules
Balance sheet and profit and loss statements
Latest trade license
Copies of bills and invoices
Registration details for excise tax and VAT
Details of closing stock including working in progress at the year-end
How ebs Can Help?
Our staff is keen to work with you side by side to conclude your audit by managing all the problems efficiently.
FAQ’s
RAKEZ-approved auditors provide auditing services to a company in the Ras Al Khaimah Economic Zone. RAKEZ is one of the main hubs for start-ups and also a leading global manufacturer.
The auditors conduct audits to ensure that the business has accurate financial statements. The auditor also confirms that the company has accurate financial statements and returns.
RAKEZ-approved auditors assist your business by providing expert guidance and enforcing compliance when it comes to auditing and financial reporting. RAKEZ-approved auditors also conduct audits to ensure the business has accurate financial statements.
Auditors need to have an accounting degree and should have experience in auditing as well. The auditor must demonstrate knowledge and experience and should get registered.
The RAKEZ authority needs each business operating within the RAK economic zone to appoint an independent audit firm to ensure the financial statements. RAKEZ approves auditors and only those auditors can carry out the auditing in your company.
All companies registered with RAKEZ appoint an auditor who reviews and reports on the accounting prepared. The audit report usually consists of the following elements:
Scope and objectives
Results
Action plans and Recommendations
Conclusions
Opinion
Acknowledgment of satisfactory performance
Yes, RAKEZ-approved auditors can assist your business with enforcing compliance and providing guidance about auditing and financial reporting. The purpose of auditing is to determine the business’s financial statements. The company can Audit reports to enhance the accountability of the managers and employees in the company.
If you want to reach out to our accountants for a meaningful discussion on auditing services in RAKEZ in UAE, connect with us.