DIFC Approved Auditors
DIFC ApprovedAuditors
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DIFC Approved Auditors
Dubai International Financial Centre (DIFC)
Dubai International Financial Center is a financial-free zone established within the emirates of Dubai in 2004. It is an onshore financial center that provides financial institutions with a secure economic platform to operate from within the Middle East. The aim of DIFC is to extend its reach to emerging business markets globally. The DIFC is proved to be a bridge between markets or financial centers in the east and the west.
It is known as an autonomous jurisdiction within the UAE. Those businesses that are being operated within the DIFC are mostly exempt from all the federal laws of the UAE. Anti-money laundering, administration, and criminal offenses are not included.
DIFC Approved Auditors
Regulatory Authorities
In DIFC
There are three regulatory authorities with their own set of functions. These are as follows:
- Dubai International Financial Centre Authority (DIFCA): The Dubai International Financial Centre Authority is the supervisor which manages to help in the development of the multiple companies that are set in the DIFC.
- Dubai Financial Services Authority (DFSA): The DFSA is a self-governing authority that regulates and supervises financial and related services which are conducted in the free zone or out of this area.
- DIFC Courts: The DIFC Courts are also formed under the Dubai Law No. 9 of 2004, which grants it the power to act as a self-governing administration of justice in the free zone. It assists to resolve all types of civil and commercial conflicts that come in the free zones.
DIFC Approved Auditors
DIFC Approved Auditors
Advantages Of Conducting Business Operations
In DIFC
Those business entities that are being operated within DIFC get these benefits.
- 100% foreign ownership.
- No corporate and personal taxes for a period of 50 years from inception.
- Access to a wide network of double taxation treaties.
- No restrictions on the repatriation of profits and capital.
- Access to skilled professionals living in Dubai.
- Modern internet infrastructure and modern transport.
- A flexible and transparent operating environment.
We are operating in DIFC and are DIFC-approved auditors. The DIFC has mandated all registered companies to get their accounts examined. They are also obliged to report to the registered auditors in the DIFC. You will have to concern with the DIFC-approved auditors and complete all the requirements by DIFC. We are one of the recognized DIFC-approved auditors.
DIFC Approved Auditors
How Can ebs
Help?
Keep in mind that not every company or firm can perform a DIFC audit for you only the approved auditors can only perform this task for you. Our audit team has rich knowledge and fully understands the relevant international financial reporting standards to get a valuable opinion.
FAQ’s
The auditor registered with the DIFC Authority is needed to report and analyze whether the accounting books are prepared in compliance with regulations such as DIFC and IFRS regulations.
It is mandatory for the companies to consult with the DIFC Approved auditors to carry out the audit. The DIFC has given licenses to some of the companies in the UAE and only the licensed companies can conduct the approved auditing.
It is important to have an accounting degree to get an audit license in UAE. you should also be able to demonstrate relevant experience in the financial auditing sector.
The auditors registered with the DIFC Authority are required to analyze the books of accounts’ accuracy. the role of the approved auditor is to have a good check and balance on the compliance of the financial reports with international and local regulations.
The auditors provide these benefits to the companies:
Compliance with common reporting standards as per DIFC.
Compliance with auditing laws and tax laws.
Compliance with VAT and other tax regulations.
The approved auditors ensure the transparency of account books in compliance with the set of laws and regulations. They also make sure that their balance sheet is prepared in line with the IFRS standards.
There are typically four main steps involved in auditing such as selection, planning, fieldwork, reporting, and follow-up. The procedures can include inspection, confirmation, observation, reperformance, and analytical procedures.
DIFC Approved Auditors
If you want to reach out to our accountants for a meaningful discussion on auditing services in DIFC in UAE, connect with us.
