DIFC AUDIT SERVICES

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DIFC AUDIT SERVICES

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If you are looking for a DIFC-approved auditing company, our auditing company, Nadeem and Umendra Chartered Accountants can provide auditing services in the right place. It is licensed and approved in the United Arab Emirates and is registered in free zones such as DIFC and DAFZA, JAFZA, DMCC, and DSO. We strive to reassure our shareholders and stakeholders that your business is efficient and fully compliant with applicable laws and regulations.
Our audit process is streamlined and designed to demonstrate compliance with all applicable accounting and auditing standards. It is also registered with all major banks and financial institutions in the United Arab Emirates.

Dubai International Financial Center (DIFC)

Dubai International Financial Center (DIFC) is a financial free zone established in 2004 in the United Arab Emirates. DIFC is a land-based financial center that operates within the Middle East and provides financial institutions with a secure economic platform to reach emerging markets in other parts of the world. DIFC sees itself as a bridge between east and west financial centers/markets.

The DIFC is recognized as an autonomous jurisdiction within the UAE. Companies operating within DIFC are generally exempt from all UAE federal laws, except for laws related to money laundering and the management and control of criminal offenses. DIFC has its own laws and regulations dealing with civil and commercial issues that companies operating in the Center must prove to continue their business from and within the DIFC Free Zone.

Who regulates the DIFC Free Zone?

There are three independent bodies responsible for the regulation of the environment within DIFC, including the DIFC Authority (DIFCA), the Dubai Financial Services Authority (DFSA), and the DIFC Judiciary Authority. DIFCA monitors the operation and operation of financial centers and develops laws and regulations that are not relevant to financial services.
Meanwhile, DFSA is responsible for developing laws and regulations related to licensing, licensing, and registration of companies that provide financial services and perform relevant activities within the DIFC Free Zone. Companies wishing to provide financial services with DIFC require DFSA approval and approval.

DIFC External Audit Request

DIFC companies are required to submit audited annual financial statements within four months of the end of each fiscal year. Submitting an external audit report to DIFC's supervisory authority is an important requirement for companies directly involved in the renewal of DIFC's business license.

The reason for the external audit obligation is to ensure that the business units operating within DIFC comply with the laws and regulations of DIFCA, DIFC Judiciary Authority, and DFSA. External audit obligations also ensure that DIFC's supervisors prepare financial statements in accordance with the accounting standards applicable to the business unit and that the business unit is not involved in any kind of illegal activity or illegal activity.

Approved Auditors

At DIFC, only auditing companies registered with DFSA are allowed to conduct external audits of companies operating in DIFC. DFSA maintains a list of approved auditors in DIFC, including the names of auditing companies that have been approved to provide external audit services to companies operating within DIFC.
To remain a free zone and mainland licensed auditing firm, auditing firms need to demonstrate employee participation in development and training programs to maintain and update their knowledge in accordance with changing auditing and accounting standards. there is.

Benefits associated with DIFC's External Audit Service

In addition to helping business license renewals, external audit requirements have many advantages. An external audit with a positive opinion gives shareholders and stakeholders of the company confidence that the company's financial reporting is correct and gives a true and fair view of the company's financial position. Positive audit reports can also help you get credit approvals from banks and financial institutions. Reporting by an external auditor with a negative opinion helps identify weaknesses that the company must correct to improve the efficiency and effectiveness of its business activities.

How can we help you comply with your external audit obligations?

Nadeem and Umendra Chartered Accountants are some of the most accredited accountants in the United Arab Emirates, providing third-party audit services in the DIFC and Free Zones, as well as in the United Arab Emirates mainland. Nadeem and Umendra Chartered Accountants are registered with all major banks and financial institutions in Dubai and the other Emirates.
In addition to providing external audit services, we also provide a variety of other services including accounting, business clearing, corporate, and tax advice in the United Arab Emirates. Our goal is not only to provide our customers with high-quality services but also to add value to their business. To achieve this goal, we have a team of qualified professionals with many years of experience in the fields of accounting, auditing, management consulting, and taxation.