Auditing is a critical element in every company. It is proof that non-restricted and accurate auditing enhances a companyâ€™s reporting. Moreover, enhances transparency, credibility, and relevance in reporting. Assessments recognize all the possibilities evaluating the opinion, ideally, by communication, it is carried out then availing essential suggestions to improve the strategies and enhance the operating effectiveness.
According to the DMCC Company Regulations clause (62), each company needs to appoint an audit. Clause (64) under the DMCC Company Regulations states that the auditors need to report to the shareholders of the company and to make the audit report of the annual accounts. If a company fails to submit the audited financial statements within 3 months of the year-end it is subject to a fine as per DMCC Company Regulations. Avoid being fined and have ARC professionals help with that.
Free Zone companies are expected to appoint an auditor from one of the approved auditors by the Free Zone Authority. Practically, the audit firms that hold a valid professional license under the Economic Department are the ones expected to deliver the auditing services. The eligibility of a firm is one of the fundamentals to consider when hiring a DMCC Auditor.
ARC professionals will assist you to design your financial statements in accordance with international accounting standards (IAS) and Auditing standards (ISA). We can provide you with the best auditing services in DMCC and the UAE.