Auditing
Auditors in DAFZA
Let us take care of all your audit requirements in the Dubai Airport Free Zone.
Audit services for companies registered in DAFZA
Dubai airport free zone, one of the vibrant hub and leading free trade zone in Dubai, UAE! DAFZA is a center for global trade, established in the year 1996. Getting access to the world’s busiest international airport to attract investment activity in the region.
DAFZA is located as an ideal gateway to the Middle East, Europe, and the Indian Subcontinent. It’s an independent free zone governed by the specific authority responsible for the business operations in the free zone. The companies have very few limitations for fund transfer and other business activities in and out of the free zone. DAFZA Free zone has been recognized as an attractive place for new business formation.
Benefits of a having a company in free zone,
- Most of the businesses are exempted from tax
- 100 percent foreign ownership
- No currency restrictions for businesses within the free zone
- Indulge in more business activity
Different types of companies in DAFZA
- Free zone company (FZCO) in DAFZA with a minimum of one shareholder and a maximum of fifty shareholders
- Branch office of the existing company
Types of business licenses in DAFZA
The companies intending to operate their entities in DAFZA are required to obtain a DAFZA license depending on the nature and type of their operations.
Have a look at the type of licenses that are available in DAFZA:
- Trade license – this type of license allows entrepreneurs to carry out all sorts of trading activities including import, export, distribution, and storage of specific products.
- Service license – this allows service-oriented businesses to provide services based on their license
- Industrial license – entrepreneurs can take up light manufacturing activities, assembly, and packaging.
- General trading license – this allows businesses to involve in general trade and related activities
- E-commerce license – this allows license holders to trade goods and services online.
- Dual license with DED* – this allows DAFZA registered companies to work without a physical office space on the mainland. Such businesses can operate out of DAFZA.
DAFZA free zone external audit requirements
The external audit is one of the important requirements imposed by DAFZA. It’s essential to renew the business license at the end of each fiscal year. As a part of the renewal, entrepreneurs should submit their external audit report from an authorized audit firm.
DAFZA ensures that the business is operating ethically with the help of the audit report and other financial reports. They make sure that business is operating legally within the limits established by the authorized free zone and the UAE. This avoids inappropriate or fraud business enterprise in DAFZA.
Why do we need an external audit?
- Independent audits ensure that the commercial environment is well-regulated.
- Audits assure that financial statements are well-organized and nothing is being hidden.
- Audit report assures authorities that financial reports are reliable and accurate
- An Independent auditor should follow the international auditing standards to disclose any fraud uncovered by the audit.
Benefits of an External Audit in DAFZA
Have a look at the key benefits of external audits of DAFZA registered companies,
- Renewal of business licenses.
- Auditing helps you understand business insights in a clear way
- Invalid business practices are known and authorities take immediate action
- Good audit scores help to increase the overall business growth
- Streamline all the tax proceedings, accounting, and bookkeeping records.
- External audit plays a stronghold in understanding financial stability as well as business expansion.
- An external audit provides banks, investors, and institutions with the right confidence to invest in DAFZA registered companies.
- Audits provide a secure financial environment in the free zone.
Audit experts simply grow your business by focusing on different aspects and providing customized solutions. We at A&A Associate have a team of qualified chartered accountants and association certified chartered accountants with extensive auditing experience of handling SME’s in diverse industries.
We make sure that your book of accounts is accurate and complete. We identify specific areas of financial management that cause any drawback to your business’s efficiency and effectiveness. Get expert solutions from our auditors at each step and also, increase your business profits accordingly.
Different types of companies in DAFZA
The following types of companies can set up their businesses in DAFZA:
- Free zone company (FZCO) with minimum one shareholder and maximum of up to 50 shareholders
- Branch office of an existing company
Types of business licenses in DAFZA
- Trading license
- Service license
Benefits of an External Audit in DAFZA
- One of the main benefits of external audit is that It helps companies in renewing their business licenses.
- External audit report provides the management with assurance and comfort that the financial statements are accurate and in accordance with the international accounting standards and international financial reporting standards.
- The financial statements audit also helps the free zone authority by providing them with information as to whether the companies are conducting their business activities within the laws and regulations established by both the free zone authority and the UAE.
- The requirement of external audit in DAFZA also provides banks, Investors and financial institutions with confidence to make investments in businesses operating within DAFZA.
- Employees view the external audit requirement and the audited financial statements as an indicator of secure financial environment in the free zone.
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