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Registered Auditors in Dubai Multi Commodity Centre

DMCC stands for Dubai Multi Commodity Centre which serves the best arena for trade. DMCC has made itself worth for your business to grow. DMCC was named Global Free Zone of the Year due to its vibrance, world-class choice of infrastructure and it links sea, road and air at its best network. DMCC offers 100% foreign ownership with 0% tax charges. DMCC serves trading, service, and industrial licenses to the business owners. DMCC Facilitates and integrates the entire value chain of its key segments by broadening the local market horizon. It offers a supportive business environment through purpose-built infrastructure to the young entrepreneurs. Enhancement of the local industry through the implementation of international standards is at its prime objective.

Auditing in DMCC

Auditing is the critical scrutiny of financial statements by an external party to detect and prevent errors and fraud. All DMCC companies are required to submit their audited annual financial accounts to the DMCC authorities by a DMCC approved auditor. While conducting the auditing:

  • Auditor must be impartial
  • Individual auditors and audit firms must have no stake in the company
  • Company-wide independence to the auditors to ensure an objective review
  • The auditors must be competent and certified to perform the mandatory tasks

The DMCC company regulations clause (62) and (64) states that:

  • All companies under the DMCC need to appoint an approved auditor
  • The auditors need to make the audit report of the annual accounts and report to shareholders
  • The company needs to submit the audited financial statements within 3 months of the year-end
  • If failed to submit it is subject to a fine as per DMCC company regulations

Benefits of Auditing in DMCC

If you are a DMCC registered company, conducting an audit helps in:

  • Better accuracy and transparency in the financial statements
  • Assures and guarantees authenticity to the information
  • Forecast the budgets and initiate the plans for growth
  • Timely renewal of trade license or wound up procedures
  • Assess the cash flows and implement internal control procedures

How External Audit is Conducted in DMCC?

  • Create a work plan with a good scope of work: We perform a basic study on the holistic business performance and draft a plan to conduct the audit process
  • Perform the financial audit tests: The audit tests are conducted to analyse the data and factual information
  • In-depth analysis on the company accounts: A deep study is conducted on various accounts of the company and comparisons are made with previous year audited documents
  • Preparation and submission of audit report: It is the auditor’s opinion on the financial statements, it is communicated to the management and authorised signatory approval is taken 

CDA Approved Auditors in DMCC

CDA’s audit services are tailor-made, we provide legitimate conclusions to your business. As a team with Big4 experience, we could handle your audit requirements at its best. CDA approved auditors in DMCC provide:

  • Assurance: We give companies the assurance that their evidence and the manner in which they conduct their businesses are legitimate
  • Authentication: We authenticate the financial position of the company and attract additional finance for the firm
  • Integrity: We enhance the integrity of the organisation with the market
  • Circumvents Mistakes: Our experts are more cautious and there is the least possibility of mistakes during the preparation of the company’s accounts
  • Restricts Deceptions: Conducting an external audit will prevent any irregularities like fraud, money laundering in the company
  • Offers Solutions and Impartial Recommendation: We provide reliable solutions for the benefit and advancement of the company

CDA offers Financial Advisory Services, Tax Consulting Services, Management Consulting Services, VAT Registration, VAT Deregistration, Internal/External Audit for Companies, Business Advisory Services, etc. in UAE

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