Dubai international financial centre or DIFC is a financial hub providing a world-class platform connecting different economies of the world. Facilitating excellent trade and investment, DIFC free zone provides a stable and secure place to develop financial institutions in the UAE.
Setting up a company in DIFC is a dream for many entrepreneurs, while starting your business, it’s essential to get support from registered auditors in Dubai international financial centre. All the companies in DIFC should submit their book of accounts at the end of every financial year. This auditing is accomplished by certain approved auditors in Dubai international financial centre.
DIFC business setup attractions
DIFC offers one of the most successful financial industry ecosystems with an independent regulator, independent judicial system, common law framework, inspiring architecture, support services, global financial exchange, and finally, vibrant business community. It’s a largest cluster for financial services with ultra-modern office space, and other attractive features.
How companies should prepare for auditing in DIFC?
Companies operating within DIFC should maintain their book of accounts and exhibit an accurate picture of the financial position. Auditors in Dubai international finance centre ensure proper maintenance of account books and ensure that company’s balance sheet are prepared in accordance with the IFRS standards.
As per the DIFC free zone, book of accounts should be kept at the registered office of the company and must be open during the inspection. Failing to comply with these rules, may result in hefty fines.
What is the need for registered auditors in Dubai international finance centre?
As the free zone caters finance-based companies, it’s essential to conduct audit services. The free zone itself has several laws and rules that every company has to comply with it.
DIFC has three regulatory authorities, they are,
- DIFCA or Dubai international financial centre authority
- Dubai financial services authority or DFSA
- DIFC courts
The DFSA regulates the audit of the companies situated in DIFC and it’s mandatory to have an audit. Audit improves company management and ensures that companies comply with the rules and regulations of the financial centre. Companies should submit their financial statements with the help of registered auditors in Dubai international finance centre.
Any accounting firm or CA firm cannot perform audit in the free zone. Only DIFC approved auditors in Dubai international finance centre free zone can perform the audit services.
Benefits of choosing the best auditors in Dubai international finance centre
Auditors in Dubai international finance centre provide the following key benefits,
- Comply with common reporting standards as per DFSA
- Comply with FATCA laws
- Comply with tax and auditing laws as per DFSA
- Comply with IFRS standards as required by DFSA
- Comply with VAT, ERS, and other tax regulations
Partnering with approved auditors in DIFC remains a key obligation for all the private companies. They have highest number of professionals and keep up the business standards as per the registered companies.
Why choose A & A associates?
A & A associate is one of the best auditors in Dubai international finance centre where you can avail the services of expert chartered accountants and other related services. We are recognized as one of the best auditing firm in Dubai delivering high quality audit services. With years of experience in accounting services, we cater huge number of clients. With unmatched human talent and practical experience, A & A associates is the right choice for your auditing and accounting needs.
Avail excellent services from registered auditors in Dubai international finance centre and keep your organizations safe.