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Auditing Services in Ras Al Khaimah Economic Zone

RAKEZ is established by the government of Ras Al Khaimah in the United Arab Emirates to oversee and regulate the clients. It is one of the largest economic zones in the region. RAKEZ uniquely offers free zone and non-free zone entity formation. RAKEZ first-class services with a variety of facility choices such as Flexi facilities across specialised zones. RAKEZ approved auditors are allowed to provide auditing services to a company in the Ras Al Khaimah Economic Zone. Ras Al Khaimah Economic Zone is a nurturing hub for start-ups and home to leading global manufacturers. RAKEZ offers:

* Free zone and non-free zone entity 

* Self-service client portal

* Connectivity to major logistical hubs

* 100 percent foreign ownership

* Wide-ranging business and industrial facilities

* Fast and efficient business set-up processes

The companies registered with RAKEZ are required to appoint an auditor to review and report on the accounts provided in accordance with laws and regulations. The auditor’s report must affirm whether the company’s accounts comply with the IFRS and ensure that the company is not involved in any money laundering. A RAKEZ approved auditor can provide a detailed report on whether the account presented is true and the company accounts are free from any kind of material misstatements. 

The RAKEZ approved auditor evaluates the company’s affairs at the end of the financial year and assesses if the company is maintaining proper records. Getting proper auditing services in RAKEZ guarantees that the accounts of the company are in accordance with the accounting records and returns. 

Benefits of auditing in RAKEZ

Being one of the reliable RAKEZ approved auditors, CDA offers professional audit services in the Ras al Khaimah Economic Zone. 

  • We provide cost-effective and efficient solutions to the problems which are faced by the business in RAKEZ
  • We ensure efficiency in making all the services and transactions very seamless and transparent
  • We offer a customised business solution for the businesses which will suit the business operations
  • We help you to understand your business and the business trends and then make more informed decisions

How external audit conducted in RAKEZ?

As per the UAE laws and the RAKEZ Companies Regulations, it is required that all the licenced companies in RAKEZ must submit their audited financial statements as implemented on 26 June 2019 

  • The companies in RAKEZ must submit the audited financial statements within six months from the end of the financial year
  • The audited statements must be handed over to the customer services representative
  • One thing to be kept in mind is this rule does not apply to audit the companies which are registered as a branch company in RAKEZ

Penalty: A fine of AED 2,500 to be paid in case of failure to submit the financial audited statements. and may even result in the suspension of the services to the company. 

Approved Auditors in RAKEZ

CDA is a highly regarded audit firm in Dubai, UAE. Being an auditing firm, CDA’s approved auditors in RAKEZ offers the following services:

  • We assure your financial statements are true and accurate
  • We examine the audit report reflects an honest opinion on the financial aspects of the company
  • We assure the compliance of books of accounts with international standards
  • We use advanced audit techniques and data analytics with 100% accuracy
  • We Identify the weakness of internal control procedures and provide recommendations
  • We prepare and present the audit work timely as per client requirements
  • We issue high-quality audit reports compliant with RAKEZ regulations

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

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