Ajman Free Zone Approved Auditors

Approved Auditors in Ajman Free Zone 

As one of the tax-free havens of the UAE, Ajman Free Zone attracts world-class businesses from across the world to set up shop. Establishing a business in AFZ can provide you with multiple opportunities to expand your operations due to the presence of a favourable demographic and economic landscape that includes a tax-free environment and a convenient location near the potential Emirates of Dubai and Sharjah. This attractive landscape increases the importance of approved auditors in Ajman Free Zone like CDA, who are engaged in serving the auditing needs of firms in AFZ, enabling them to prosper and take their businesses to the next level.

With the importance of auditing growing in AFZ, CDA, as a recognised auditor in the UAE, has been providing robust and customised auditing services to clients for more than a decade, assuring them of multi-dimensional benefits. Entities in the AFZ that come under the jurisdiction of the Ajman Free Zone Authority are mandatorily required to get their accounts audited annually by an approved auditor. CDA is well-versed in all the regulations of the free zone and is always available to cater to the auditing needs of entities in the AFZ.

Auditing in the Ajman Free Zone

Auditing plays a crucial role in trade licence renewal and ensuring a compliance framework is in place for a number of freezone entities in the AFZ. CDA understands the significance of auditing by providing streamlined auditing services to clients with accurate audit reports. This comes with a variety of benefits, which include:

1. Gaining valuable insights

Get clear and holistic insights on the performance of your business in AFZ through stringent audit reports created by professional auditors of CDA who evaluate the transactions of your business to draw significant conclusions. CDA provides you with standardised reports prepared as per the regulations and principles that ensure the compliance of your firm in AFZ.

2. Ensuring compliance

Our team of experts ensures your firm’s compliance with all the prevailing laws and regulations, such as AML-CFT, VAT laws, corporate tax laws, etc., thus protecting you from any further legal consequences from authorities in the form of penalties or fines. After conducting a thorough analysis of your operations, our team formulates stringent compliance frameworks so that you can always stay up-to-date with the laws of the Ajman free zone.

3. Enhanced fraud detection

Implementation of stringent audit processes by our team of experts enables you to detect any frauds or malpractices happening across your firm at an early stage, protecting you from huge losses or mishaps. Our team helps you get to the root cause of the fraud and circumvent such operations with the help of innovative control procedures and technology-driven strategies. We also equip you with the best solutions to mitigate such risks in the future in AFZ.

4. Preparation of transparent audit reports

Increase the public's confidence and your firm’s goodwill in the market by preparing and maintaining authorised and reliable audit reports prepared by our team of experienced auditors. You can use these reports to attract prospective investors worldwide and manage your finances effectively.

5. Implementation of stringent internal controls

After conducting a thorough audit, our team of experts gets a comprehensive view of your firm’s operations and performance, based on which we can then analyse the effectiveness of the internal controls adopted by the firm in AFZ. We also provide the firms with innovative control frameworks that can improve their overall performance.

CDA’s Streamlined Process of Auditing in AFZ

CDA’s streamlined auditing services in Ajman Free Zone include the following steps, which enable clients to get an accurate and error-free opinion of their overall business operations:

1. Audit planning and implementation of apprehensive internal controls

The first step of auditing by our team includes the planning of the audit, which involves calculating the duration of the audit, the extent of transactions and operations to be covered, key areas of the business to be focused on, finalising the deadline, and determining the cost of the audit. During this stage, the team of auditors may also try to perform an analysis of the internal controls prevailing in the business.

2. Assessment of the risks

The second step involves the detection of the risks that the firm might face in the future based on the auditor’s apprehension of the internal controls and available information. The auditors thoroughly monitor all the operations to uncover hidden risks in the firm.

3. Evaluation of controls and other details

After detecting the risks, the approved auditors proceed to evaluate the controls and all the available details to detect the loopholes that contribute to the risks detected. Based on the insights gathered, auditors may suggest measures to improve the control procedures implemented by the business.

4. Conclusion and drafting of the audit report and financial statements

The next step involves winding up the audit process and preparing the audit reports as per accounting standards and principles to ensure compliance with free zone laws. The audit reports prepared enable you, as a business, to gain the confidence of investors across the world and boost your firm’s profitability.

5. Follow-up and suggestions of measures to mitigate weaknesses communicated, if any

The last step in CDA’s process of auditing involves following up on the auditing conducted and providing clients with clear insights on the performance of firms, along with innovative solutions to improve operations and mitigate risks.

Our Auditing Service Package as an Approved Auditor in AFZ

CDA provides varied auditing services for the entities as an approved auditor in AFZ. As one of the most experienced auditors in the UAE, CDA has a well-equipped team of professional auditors who can serve your varying audit requirements in the free zone in a personalised manner by devising custom-friendly audit processes. Some of our auditing services in AFZ provided by professionals include:

1. Compliance audit

Our team of experienced auditors has decades of experience providing auditing services to clients and is well versed in all the regulations prevailing in the UAE. Thus, we ensure your compliance with such regulations.

2. Statutory audit

A statutory audit is a legal requirement that involves conducting an evaluation of all the accounts and financial statements to ensure their fairness and authenticity. Our team of auditors provides you with statutory audit services and assists you in maintaining accurate financial records.

3. Financial audit

Financial audit services involve the critical evaluation of the financial statements and the internal controls of the business. Our auditors provide accurate and credible insights on the financial position of the firm in the free zone.

4. Risk assessment audit

Risk assessment, or risk management audit, focuses on detecting risks to which the firm is exposed and then formulating strategies to avoid or minimise such risks. Our team of potential auditors can help you mitigate such risks beforehand through risk assessment audits.

5. Tax audit

Tax audit services provided by our firm include VAT audit and corporate tax audit services, all with the main goal of ensuring the compliance of your firm with all the tax laws laid down by the FTA, along with assisting you in the timely filing of tax returns.

CDA- Approved Auditors: Make your Accounts better.

We provide you with custom-tailored audit processes formulated as per your requirements. We assure you of providing the best audit reports prepared as per the evaluations conducted by our highly proficient team. Our audit services in AFZ are not mere audits but ensure transparency, accuracy, assurance, authenticity, coordination, control, mitigation of frauds, improvement of performance, etc. to take your business to the next level in the Ajman Free Zone. Approach our approved auditors in Ajman Freezone and get the value of premium audit services for your firm.

Reach out to our approved auditors in AFZ for streamlined auditing services that meet your requirements.