Approved Auditors in UAE
In Dubai Free Zone, UAE, auditing can be done by certified and approved auditors. FMA Accounting and Auditing is a well-known and respected accounting firm in Dubai, UAE, that provides internal audits, external auditing, and forensic auditing services. Companies who fail to meet this deadline will face problems and fines, including the loss of their trading licence.
Auditing is considered a valid responsibility in Dubai’s free zones.
Some of the reputed free zones in Dubai, UAE require auditing as an obligatory function. Some of the free zones are,
Dubai Multi Commodities Centre – DMCC
Dubai Airport Free Zone – DAFZ
Dubai International Financial Centre – DIFC
Jebel Ali Free Zone – JAFZA
Entrepreneurs establish businesses in Dubai free zones to take advantage of unrivalled perks such as rapid approvals, entire foreign ownership, tax incentives, and low-cost incorporation. Investors should, however, take care not to overlook the obligatory standards while enjoying the numerous rewards. Many free zones have made it mandatory for enterprises licenced by them to submit annual audit reports to the authorities in charge of the free zone.
FMA Accounting and Auditing : Approved auditor in Dubai Free Zone
FMA Accounting is a renowned accounting firm in Dubai, and we provide a wide range of accounting services, including onsite accounting, online or cloud-based accounting, accounting system setup training, accounting secondment, Statutory Audit, Internal
Our internal audit services provide:
- Setting up Internal strategical and Tactical Audit Function
- Providing support to existing Internal Audit Function
- Internal Audit Quality Assurance Reviews
External audit services provide:
- Financial statement Audits
- Advice on the application accounting policies, accounting, and auditing standards
- Accounting System and Control reviews
When to Submit the Audit Reports?
The majority of free zones require businesses to submit reports to the government within 90 days after the end of their fiscal year. The report must be produced as part of the trade licence renewal process in some free zones, such as Dubai South (applicable for branches as well).
In the UAE, a financial year is traditionally calculated as a calendar year. Companies operating in Dubai’s free zones have the option of choosing their own fiscal year. The financial year they choose, however, must begin on the day of incorporation and must not be less than six months or more than 18 months. Approved auditing firms in Dubai can assist free zone businesses in meeting the standards.