As per DMCC regulations every Company must appoint an auditor who must examine and report on the financial accounts of that Company.
The directors of a Company must prepare and approve financial accounts and arrange for these to be audited by an auditor approved by DMCC and approved by the shareholders after the end of the financial year of the Company as per the due date of the concerned authority.
A Company can only appoint an auditor, if the auditor has been approved and registered by DMCC and they have been listed in the Approved Auditors List.
Advantages of appointing approved Auditor
If a DMCC member company submits reports from an auditor who is not on the AAL, DMCCA reserves the right to reject the submission and require the member company to submit a new report which has been prepared by an AA on the AAL.
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