DMCC APPROVED AUDITORS
DMCC stands as a beacon of growth and opportunity in the global business landscape, renowned as the world's fastest-growing and largest Free Zone, boasting a staggering 19,000 registered companies. As a hub of commerce, DMCC facilitates trade across various commodities, including gold, diamonds, pearls, precious metals, coffee, and tea. Its strategic location and robust regulatory framework have attracted significant international corporations, SMEs, and start-ups, making DMCC Free Zone their preferred destination for business growth and expansion.
DMCC businesses rely on the expertise of DMCC auditors to ensure compliance and transparency in their financial operations. Approved auditors DMCC play a pivotal role in upholding the standards of accountability and integrity within the Free Zone, offering comprehensive audit services to meet the needs of businesses within DMCC. With their proficiency and in-depth understanding of DMCC regulations, DMCC auditors provide invaluable support to companies, safeguarding their financial interests and fostering trust and confidence in the marketplace.
WHY IS IT NECESSARY TO AUDIT DMCC COMPANIES?
Auditing is essential for companies to uphold transparency and accountability in their financial operations. DMCC Auditors ensure that businesses maintain accurate accounting records and supporting documentation, enabling them to disclose their financial position with reasonable accuracy at all times. By adhering to auditing standards, companies can provide stakeholders, including investors, creditors, and regulatory authorities, with reliable insights into their financial health and performance.
In compliance with regulations, DMCC member companies must undergo auditing processes within 90 days of the end of each financial year. This entails uploading an audited financial statement summary sheet and a comprehensive audited financial statement report through a designated online service request on the member gateway. However, exemptions are granted to appointed auditors overseeing DMCC member companies registered as branch entities, provided such companies have a designated group auditor overseeing their financial affairs. Through auditing, companies fulfill regulatory requirements and instill confidence in their stakeholders, fostering trust and credibility in the business ecosystem.
APPOINTMENT OF APPROVED AUDITORS DMCC
The appointment of DMCC approved auditors is critical in ensuring compliance and transparency in financial reporting within the Dubai Multi Commodities Centre (DMCC). The authority has meticulously curated a list of approved auditors entrusted with conducting audits for DMCC member companies. Companies must engage auditors from this approved list to fulfill their auditing requirements effectively.
A Company can only appoint an auditor if:
- The auditor has been approved and registered by DMCC;
- The auditor has agreed in writing to the appointment;
- The Company, having made reasonable inquiries, needs to be mindful of any matter which would prevent the auditor from agreeing to the appointment.
At Excellence, we proudly stand as Approved Auditors DMCC, operating under the name of MANSOOR MULLA AUDITING OF ACCOUNTS. Our team is dedicated to providing comprehensive auditing services and other essential business solutions to DMCC member companies. We recognize the significance of appointing DMCC auditors to examine and report on financial accounts, facilitating compliance and fostering trust in the business environment. With our expertise and commitment to Excellence, we help companies navigate the intricacies of financial audits within the DMCC framework.
AUDIT REQUIREMENTS
- Legal Documents: Memorandum of Association (MOA)
- Certificate of registration
- Updated Copy of Trade License
- Share certificate
- Lease/Tenancy agreements for the audit period
- Passport copy of the Shareholder/Manager
- Financial Documents: Trial balance
- Profit and Loss Statement
- Statement of Financial Position (Balance sheet).
- Bank statements (all the accounts) for the audit period.
- Previous Year Audit Report
EXCELLENCE AUDITING COVERS ALL YOUR DMCC AUDITING NEEDS
At Excellence, we pride ourselves on offering comprehensive auditing services tailored to the specific needs of companies operating within the Dubai Multi Commodities Centre (DMCC). Our auditing process strictly follows International Standards on Auditing and International Financial Reporting Standards, ensuring accuracy, transparency, and compliance with DMCC Free Zone regulations. As approved auditors in DMCC, we meticulously check financial records, identify areas for business improvement, and give actionable recommendations to help organizations achieve their business objectives effectively.
Our team of DMCC auditors is dedicated to guiding companies through the auditing process, actively contributing to their success and credibility in the market. By conducting thorough audits of business books, we assist companies in meeting local and international regulatory requirements, fostering trust and confidence among stakeholders, governments, lenders, and other regulatory authorities. At Excellence, we understand the importance of maintaining financial integrity and transparency, and we are committed to delivering auditing services of the highest quality to support our client's growth and sustainability in the competitive business landscape of the DMCC.
