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Dubai Silicon Oasis (DSO)

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Dubai Silicon Oasis (DSO)

Registered Auditors in DSO

Only registered auditors in the Dubai Silicon Oasis (DSO) Free Zone are authorized to audit the books of accounts of businesses operating within the zone. Audit firms not registered in the free zone cannot serve companies operating in the DSO free zone. They cannot do audits or liquidations there.

Since its founding in 2004, Dubai Silicon Oasis (DSO) has upheld its reputation and standards. The Government of Dubai owns the internationally renowned free zone known as Dubai Silicon Oasis Authority (DSOA). The purpose of Dubai Silicon Oasis (DSO) is to house contemporary technology-related enterprises in one area.

Accessibility to DSO-free zones is another incredibly important aspect that plays a major role in attracting organizations. In addition to providing several benefits, these DSO free zones also aid in expanding global trade.



Dubai Silicon Oasis Authority (DSOA)

In 2004, the Dubai legislature launched the initiative known as Dubai Silicon Oasis (DSO), an unrestricted commerce zone. Additionally, the DSO's primary goal was to provide a platform for the most innovative sector. Furthermore, the DSO promotes and advances the company's association with modern innovation.

Consequently, all approved auditors in Dubai Silicon Oasis are well-versed in the effective management of your reports. If the Dubai Silicon Oasis Authority (DSOA) has licensed your business, you must abide by the rules and regulations set forth by the DSOA.

Companies registered with DSOA are required to maintain accounting records that are in accordance with IFRS and provide a fair picture of their profit and loss for the relevant year.



Auditing Services in Dubai Silicon Oasis (DSO)

GAAP Associates are registered auditors in the UAE's various free zones, including DSO. Assuring that the regulatory requirements and instructions are followed helps the management of the companies understand the current financial health of the business and enables them to find out how to improve business growth while adhering to the regulatory guidelines and meeting the requirements. We have dedicated external auditors in the free zone who have experience serving businesses in Dubai Silicon Oasis.

The audit team at GAAP Associates guarantees that the businesses adhere to the guidelines set forth by the UAE Central Bank and best practices for both local and international reporting standards, such as IFRS, AML, and CFT.



Why is auditing required in Dubai Silicon Oasis?

Businesses that are registered with the Dubai Silicon Oasis Authority (DSO) and are conducting business there must have their books of accounts examined by a registered and authorized audit company.

The authorized audit company makes sure that the business is run in accordance with the UAE Central Bank's AML and CFT regulations. If the audit company suspects any conduct that violates the CFT and anti-money laundering legislation, they have an obligation to notify the relevant authorities.

Details on whether the accounts are free from substantial misstatements and give a true and fair picture of the company's operations at the end of the fiscal year must be included in the auditor's report. If the business is carrying out the operations allowed by its license, the auditor must also mention this in his report.

Determining whether the company has kept accurate records is the responsibility of the DSO-approved auditors, who are also authorized to conduct related investigations. The auditors are also responsible for verifying that the company's accounts match the accounting records and returns.



Requirements to Conduct the Financial Audit in DSO

To perform accounting and auditing, companies are required to submit the relevant documents that correspond to the relevant year. These documents analyze the financial statements and establish the financial status of the company. The financial situation of the organization is ascertained by analyzing the financial statements. The requirements from DSO approved auditors to conduct the financial audit are:

  • Books of Accounts
  • Copies of bills and invoices
  • Bank Statements
  • Memorandum of Association (MoA)
  • Articles of Association (AoA)
  • Latest Trade License
  • Registration Details for VAT and Excise Tax
  • Credit or debit information for all financial transactions



Approved Auditors in DSO

As an approved auditor in DSO free zone as well as other free zones in the UAE, GAAP Associates provides the best external auditing services. Your budget reports must be organized and put up in accordance with the DSO and ISA standards, according to our DSO free zone accredited auditor.

In compliance with regulations and other requirements, as registered auditors in Dubai Silicon Oasis, we deliver efficient audit reports that support company expansion. Moreover, major banks and financial foundations have approved our auditors as well.

Contact us for more information!!


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