Jebel Ali Free Zone (JAFZA), one of the world’s largest free zones specialized in industry, trade and logistics, has played a pivotal role in inviting international partners to the country, and in so doing creating a community of confidence and smooth functioning that has influenced a boost to the economy of both Dubai and the UAE.
Types of Businesses AvailableIt is very important to avail the services of an approved auditor for conducting the Audit of your company as only an approved auditor can conduct an Audit of a company in the free zone.
All JAFZA registered companies are to perform auditing of books of accounts by JAFZA Approved Auditors.
Only audit firms in the JAFZA Approved Auditors List are allowed to perform audits. Any other auditing firm which has not been approved by the governing authorities of the JAFZA free zone cannot conduct an audit in the free zone.
Excellence Auditing conducts final audits in accordance with International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS).
We also identify areas for improvement and suggest steps to achieve organizational goals and actively contribute to business success. An inspection of business books by the top UAE accounting firm helps companies obey regional and foreign regulations, and strengthens the company's credibility with stakeholders, governments, lenders, and other authorities.
For companies registered in Jafza (Jebel Ali Free Trade Zone), they must be audited by JAFZA listed auditors. According to free zone regulations, all companies registered in JAFZA should have auditors approved by JAFZA to prepare annual audit reports.
Every company has to maintain books of accounts, at the registered office or any office that the board of directors may decide. If the company is maintaining books at an office other than the registered office, it has to intimate the same to RoC. The company can maintain the accounts electronically also.
Books should be maintained for a period of 5 years from the end of the relevant financial year.
The Jebel Ali Free Zone Authority has stipulated a number of businesses registered under it. In order to renew their license without any failure, external audits are conducted. The subsequent documents required while conducting auditing are:
Bank statements
Credit/ debit confirmation for all
financial transactions in the Books of Accounts
All invoices-purchases and
sales
Trade License,
Memorandum of Association (MOA), Articles of Association (AOA)
VAT certificate
Excellence is an approved auditor in JAFZA offers various services including Financial Advisory Services, Tax Consulting Services, VAT Registration, VAT Deregistration, and Internal/External Audit for Companies, Business Advisory Services, etc. in UAE.
As a JAFZA approved auditor, we offer the best services to the participating companies. Get in touch with us.