ICV Audit

ICV Audit Services in UAE

ARC is ADNOC Approved ICV Auditor in UAE. All ADNOC suppliers are required to get their ICV audit. ADNOC has initiated an In-country Value program (ICV) with the objective of Localization and creating more employment and job opportunities for Emiratis to boost the UAE’s economy and the localization of important functionalities in the field of oil and gas.

In November 2017, an In-Country Value (ICV) program was announced for Abu Dhabi National Oil Company (ADNOC) Group Companies with the aim of creating additional employment opportunities for UAE Nationals, procurement of goods and services from UAE to diversify the GDP of the country and localization of critical parts in the oil and gas industry and other important sectors. In 2019 and 2020, various government and semi-government companies i.e. ADDED, Aldar Properties, Abu Dhabi Ports, Mubadala, and ENEC (together known as Participating Entities) joined hands to broaden the unified ICV certification process in UAE.

• A separate ICV certificate is issued for each license of the company even if the owner is the same. However, if a company has different branches in the same Emirate with identical activities, names, and ownership listed on the licenses, then one combined ICV certificate will be issued for the Company in that Emirate.
• The validity of the ICV certificate is 14 months from the date of issuance of audited financial statements by Auditors. The supplier also has the option to re-certify the same ICV certificate using the same audited financial statement however the validity of the certificate would remain the same.
• For start-ups and newly established companies that are less than 10 months old, management accounts for a period of up to 9 months can be used for ICV certificates.

• Manufacturing Cost (For Manufacturers)
• Third-Party Spent (For Service Providers and Traders)
• Local Investment and its growth
• Employment of UAE nationals
• Expat Contribution
• Export of goods and services

 

ADNOC Approved ICV Auditors in UAE

As one of the approved impaneled ICV certifying bodies and being approved ADNOC ICV Auditors in UAE, we can help companies in obtaining a unified ICT certificate. Our professional team is experienced in performing an in-depth analysis of financial statements for advising clients to attain the best possible ICV score in line with ICV guidelines. We are fully committed to completing the certification on time and providing our best resources for the execution of the ICV certification process. ARC will provide the best ICV audit services in UAE.

As an approved certifying body, ARC Associates assist you in obtaining your ICV certificate in the most effective and efficient way, of which we advise you on ways that will result in an increase in your ICV score.