Approved Auditors in DMCC

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Elevate Your Free Zone Business with DMCC Approved Auditors

The Dubai Multi Commodities Centre (DMCC) Free Zone, located in Jumeirah Lake Towers (JLT), is renowned for offering exceptional business setup benefits, including diverse licensing options, flexible office solutions, and seamless setup procedures. However, a key compliance requirement for companies operating in the DMCC Free Zone is the mandatory auditing of their financial accounts by a DMCC-registered and approved auditor.

DMCC Regulations for Company Auditing

Under the DMCC Authority Regulations No. 1 of 2020, which replaced the previous Regulation No. 1 of 2013, all DMCC member companies are mandated to have their financial statements audited by approved auditors listed on the DMCC’s Approved Auditors List. These regulations aim to uphold the highest standards of financial reporting, ensuring that audited financial statements present an accurate and transparent view of the company’s financial health.

Key highlights of the regulations include:

  • International Standards: DMCC-approved auditors follow local and international accounting standards such as IFRS (International Financial Reporting Standards).
  • Submission Deadline: Audited financial statements must be submitted within 90 days of the fiscal year-end.
  • Prohibition of Misrepresentation: Companies must cooperate fully with auditors and refrain from providing false or misleading information.

ADMCC Auditing Process

DMCC’s structured auditing process ensures accuracy, compliance, and financial transparency. Below is an overview of the auditing process and responsibilities:

  • Preparation of Accounts: Directors must prepare accounts annually, adhering to IFRS standards.
  • Maintenance of Accounts: Companies are required to maintain comprehensive accounting records and underlying documents.
  • Copies of Accounts: Shareholders have the right to request copies of audited financial statements and the auditor’s report.
  • Appointment of Auditors: Companies must appoint auditors approved by DMCC at their General Meeting.
  • Auditors’ Report: The report must confirm compliance with IFRS and validate the accuracy of financial statements.
  • Auditors’ Duties and Responsibilities: Conduct thorough investigations to ensure proper accounting records are maintained. Validate compliance with Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) guidelines.
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Required Documents for DMCC Audit

To facilitate the audit process, companies must provide the following documents:

  • Bank Statements
  • Credit/Debit Confirmation Slips
  • Invoices and Bills
  • Statements of Deposits (from DMCC Portal)
  • Memorandum of Association (MoA) and Articles of Association (AoA)
  • Trade License
  • VAT and Excise Tax Registration Details

Why Choose Elevate Accounting and Auditing?

Elevate Accounting and Auditing is a trusted name among DMCC-approved auditors in Dubai. We specialize in offering tailored audit and assurance services to DMCC Free Zone companies, ensuring compliance with the latest DMCC regulations and international standards.

Our Expertise Includes:

  • Regulatory Compliance: Our auditors are well-versed with DMCC’s updated auditing guidelines and IFRS standards.
  • Risk Identification: We analyze your company’s financial position to identify and mitigate risks
  • Enhanced Corporate Governance: Elevate’s services aim to improve corporate governance practices, adding long-term value to your business.
  • Experienced Professionals: Our team of certified chartered accountants ensures accuracy, transparency, and reliability in auditing processes.

Value-Added Services:

  • Preparation of Audited Financial Statements
  • Ensuring AML and CFT compliance
  • Professional advice on improving financial reporting and business operations

Partner with Elevate Accounting and Auditing

Ensure your business complies with the stringent DMCC auditing requirements with Elevate Accounting and Auditing. Our team delivers comprehensive, professional, and timely auditing solutions tailored to your specific need

Let’s work together to strengthen your business’s financial foundation.

Contact us today to learn more about our services for DMCC Free Zone companies.

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