It is well known to every businessman that auditing is of critical importance, and even the United Arab Emirates government recognizes this. This is the reason why the Dubai Multi Commodities Centre (DMCC) has made financial audits mandatory, which can only be carried out by approved auditors in DMCC free zone. Since its establishment in 2002, the Dubai Multi Commodities Centre (DMCC) provides businesses around the globe with a designated physical space and infrastructure. DMCC is home to more than 12,000 businesses from all over the world and is regarded as the largest free zone in the UAE.
According to the DMCC Company Regulations, every single company that is operating in the free zone or has been registered with DMCC is required to appoint an auditor. A business registered in the DMCC shall undergo yearly audits by the auditor, who should also provide the owners and investors with the audited financial information. The auditor chosen by a business in the DMCC must be an approved auditor within the DMCC who has been approved by the free zone management. A company in a free zone cannot be audited by another regular auditor.
If a firm chooses an auditor who is not a DMCC-approved auditor, the audit would be deemed invalid, and the company will be subject to fines and other penalties. Our professionals at GAAP Associates can help you if you need support for your business at the Dubai Multi Commodity Centre (DMCC).
Contact us if you need any assistance from registered auditors in DMCC!!