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Registered Auditors in DIFC

Registered Auditors in DIFC

There are various free zones in the United Arab Emirates that provide variety of opportunities for the business entrepreneurs’ to establish their business and company. The free zones are operated and governed by special rules and regulations for the businesses that are established in the specific zones. As Dubai is becoming one of the fastest growing economies, many business professionals wish to establish their business in the UAE. Free Zones in the UAE have gained a lot of momentum over years due to their special and business friendly rules and regulations which attract the businesses to set up and operate in the free zone.

DIFC stands for Dubai International Financial Centre and was established in the year 2004. It is an economic zone that has been established for the promotion and management of the financial companies in the UAE. DIFC is one of the fastest growing free zone in the UAE and covers an area of 110 Hectares. Over the period of time, the DIFC has become a very important hub for the Middle East, African and South Asian countries.

DIFC consists of three regulatory authorities that manage the companies established in the free zone and have their own rules and regulations. All the regulatory bodies in the DIFC ensure that the companies established in the free zone face no issues or problems while running and managing their business in the DIFC.

The three regulatory authorities are:

Dubai International Financial Centre Authority (DIFCA) – It is a regulatory body that manages the development of the various companies that are established in the DIFC free zone. It helps in forming and establishing the rules, regulations and the laws that would apply to all financial services firms.

Dubai Financial Services Authority (DFSA) – It is also a regulatory body that takes care that the rules, regulations and the laws that govern the companies established in the free zone are complied with. The DFSA also have the authority to make rules that will affect the financial market and will also beneficial to the companies established in the DIFC.

DIFC Courts – It acts like a judiciary body which actively takes part and is responsible for resolving all types of civil and commercial disputes that may arise in the companies that operate in the free zone. DIFC Courts ensure that all the standards for resolving the dispute and legal proceedings are followed.

Setting up a business in the DIFC, comes with its own benefits and the businesses set up in this free zone enjoys the below benefits provided by the Dubai International Financial Centre (DIFC).

Presence of an International Stock Exchange. The DIFC includes the Dubai Financial exchange (DIFX) which has now been rebranded as NASDAQ Dubai.

The DIFC is regulated by International accepted laws and compliance procedures.

The data privacy and security measures are adequate and there is no breach of information. It is ensured that there is free flow of information and the transparency is maintained.

No corporate or personal income tax applies to the companies that are established in the free zone.

The DIFC free zone provides state of the art infrastructure facilities to the business, transportation facilities for easy commute and the free zone is regulated by the advanced technologies.

DIFC allows the businesses set up in the free zone to operate and manage the business in Dollars which makes it easier for the foreign companies to manage their funds.

The companies that are established in the DIFC free zone, need to comply with certain regulations that makes the financial audit compulsory for the companies. The DFSA (Dubai Financial Services Authority) regulates the audit of the companies established in the DIFC and it is compulsory and mandatory for all the companies to get their audit done.

The financial audit needs to be done at the end of each fiscal year and should be submitted to the authorities within four months of the end of the fiscal year. The audit of the financial statements is compulsory as it helps in the improvement of the management of the company and is also a test to ensure that all the rules and regulations have been complied with.

ARC Associates are one of the approved auditors by DIFC who are authorized to perform the audit of the financial statements of the companies established in the DIFC. ARC Associates have a team of well qualified professionals who have their expertise in the performance of the financial audit of the companies registered in DIFC and have successfully completed the audit of the financial companies.

ARC Associates have established themselves as one of the best auditors in the UAE and are authorized by the DIFC to perform the audit of the companies established in their free zone within the time frame and help in providing the true and the fair image of the financial position of the companies set up in the DIFC.


Contact DIFC Audit in Dubai

Contact DIFC Audit in Dubai

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