Approved Auditors in DWC
DWC (Dubai world central) is an integral part of the UAE economy. It’s also known as Dubai South and is one of the fastest-growing free zones in Dubai. The free zone provides an economic platform for all industries.
Elevate is one of the leading DWC Approved Auditors, which provides outstanding auditing services in Dubai South Free Zone and across the UAE. Besides ensuring the independence of the auditing in Dubai South Free Zone, we guarantee that the audit reports are submitted to the authority without fail.
About Dubai World Central Free Zone(DWC)
Dubai South Free Zone, also recognized as Dubai World Central Free Zone, stands as a prominent master-planned city designed to enhance the quality of life. It is a highly sought-after destination for living, working, and investing, serving as a pivotal hub in the global economy. This dynamic zone accommodates a diverse range of businesses, industries, and employment opportunities, making it a catalyst for economic growth. Moreover, Dubai South Free Zone plays host to significant events like the World Expo 2020 and the Dubai Air Show, further elevating its global prominence.
Approved auditors in DWC (Dubai World Central Free Zone) offer professional external audit services and facilitate license renewal processes for companies within the free zone. Businesses established in Dubai South Free Zone enjoy the privilege of conducting operations in the UAE without restrictions, and they benefit from various advantages:
Full Ownership and Repatriation
Companies can open UAE bank accounts with 100% foreign ownership, and they have the freedom to repatriate 100% of capital and profits.
Dubai South Free Zone imposes no corporate or personal income tax, offering a tax-friendly environment for businesses.
The free zone boasts unparalleled infrastructure, particularly due to its proximity to the Dubai Logistics Corridor.
Companies enjoy complete waivers on import and export duties, making trade more efficient and cost-effective.
Secure and Regulated Environment
Dubai South Free Zone provides a secure and well-regulated business environment, ensuring stability and compliance.
Affordable Real Estate
Businesses can access high-quality freehold and leasehold properties at competitive prices.
Comprehensive Client Support
The free zone offers total client relationship management, assisting with documentation collection and processing.
In summary, Dubai South Free Zone is an attractive destination for businesses seeking growth and opportunities in the UAE, offering an array of advantages that foster a thriving and competitive business landscape.
Documents Required for the Audit by Approved Auditors in DWC
- Legal documents – Memorandum of Association (MOA), Articles of Association (AOA), Trade license copy, Share certificate, certificate of incorporation Tenancy contract, etc.
- Bank statements and confirmations from banks
- Balance confirmation from debtors, creditors, and third parties (as per the samples given by the auditors).
- Statement of deposits from the DWC portal, copies of Ledgers, sales invoices, purchase bills, expenses bills, etc.
- Complete set of books of accounts, trail balance, etc.
- Such other information as the auditor may consider necessary.
Benefits of Auditing in Dubai South Free Zone
While conducting an audit in Dubai South Free Zone, it helps the companies to:
- Streamline the company’s cash flows and business procedures.
- Better decisions can be made regarding the future of the company.
- Determine the profitability and prospective investment possibilities.
- Potential growth will be ensured by the company’s financial information being transparent.
- Implementing numerous internal control methods can help you manage the cash flow.
Why choose Elevate as an Approved Auditor in DWC (Dubai World Central)?
Examination of DWC companies should be performed according to International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS) and also follows audit procedures set by the DWC Free Zone.
Auditing in Dubai World Central (DWC) companies should adhere to International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS). Additionally, audit procedures set by the DWC Free Zone must be followed. The examination of business books by a reputable UAE accounting firm can identify areas for improvement and propose steps to achieve organizational goals, actively contributing to business success. Engaging a DWC Approved Auditor ensures compliance with local and international regulations, enhancing the company’s credibility with stakeholders, governments, lenders, and other authorities.