HFZA Approved Auditors
HFZA ApprovedAuditors
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Audit Services For Businesses Registered In The Hamriyah
Free Zone
Hamriyah Free Zone (HFZ) is an industrial hub for manufacturing companies in the UAE. HFZ is one of the fastest-growing free zones because of its connectivity with other emirates, efficient regulatory measures, favorable business policies, and many more. There is also the requirement for financial audit from HFZA Approved Auditors for registered companies.
The purpose of the Hamriyah Free Zone is to be flexible and dynamic to accommodate business operations as well as maintain its status as an investor-friendly free zone.
Hamriyah Freezone Sharjah gives an opportunity to businesses to perform their operations in a tax-free environment. It also offers full company ownership, profit with commercial charges, and exemptions from the repatriation of capital.
Each free zone in the UAE is administered by a local authority that is responsible to regulate all the business entities that are being operated in the free zone areas. The aim of such regulatory authority is to make sure that environment for businesses is controlled and well-regulated.
The purpose of the Hamriyah Free Zone is to be flexible and dynamic to accommodate business operations as well as maintain its status as an investor-friendly free zone.
Hamriyah Freezone Sharjah gives an opportunity to businesses to perform their operations in a tax-free environment. It also offers full company ownership, profit with commercial charges, and exemptions from the repatriation of capital.
Each free zone in the UAE is administered by a local authority that is responsible to regulate all the business entities that are being operated in the free zone areas. The aim of such regulatory authority is to make sure that environment for businesses is controlled and well-regulated.
Types Of Business Licenses
In HFZ
HFZ gives business entities four kinds of licenses to operate within the free zone. The license is given to business entities according to their nature and type of operation. These are the four types of licenses offered to Hamriyah free zone companies:
- Industrial License
- Commercial License
- Service License
- General Trading License
Why Is A Financial Audit Required
In HFZ?
Hamriyah Free Zone Authority (HFZA) mandates each business operating in the free zone to appoint an independent auditor. The independent auditor must be one of the HFZA-approved auditors in UAE to report true and fair audit reports. These financial statements must be prepared in accordance with the regulations and applicable laws.
These financial statements must be approved by the directors and signed by the directors. HFZ needs annual audit reports because of the following reasons:
The external audit report ensures that all the information they need is there and also the company is complying with all the regulations and applicable laws.
It gives assurance that the financial record is complete and there is no concealed information from the authority.
An external audit report presented by an independent auditor provides reasonable assurance to free zone authority and all the stakeholders.
Financial audits also give the assurance that the financial statements are accurate and are made in compliance with applicable accounting standards.
These financial statements must be approved by the directors and signed by the directors. HFZ needs annual audit reports because of the following reasons:
The external audit report ensures that all the information they need is there and also the company is complying with all the regulations and applicable laws.
It gives assurance that the financial record is complete and there is no concealed information from the authority.
An external audit report presented by an independent auditor provides reasonable assurance to free zone authority and all the stakeholders.
Financial audits also give the assurance that the financial statements are accurate and are made in compliance with applicable accounting standards.
Documents Required For External Audits
In The HFZA
These specific documents are needed by the auditors in HFZ:
Trail balance
Copies of bills and invoices
General ledgers
Audit schedules
Registration details for excise tax and VAT
Balance sheet and profit and loss statements
Latest trade license
Details of closing stock including working in progress at the year-end
Why Chooseebs?
ebs is one of the recognized and approved auditing firms that helps many companies to carry out their audits. We are committed to our promise of carrying out a reliable and efficient audit of your company. We have a highly qualified team that takes care of your auditing and gives satisfactory results. We are one of the top HFZA-approved auditing firms to assist in your auditing issues.
It is mandatory for all the free zone companies to be concerned with the Audit firms registered with HFZA. You will find the best Auditing Services in HFZA by working with us. We resolve issues efficiently and support the companies in every possible way.
It is mandatory for all the free zone companies to be concerned with the Audit firms registered with HFZA. You will find the best Auditing Services in HFZA by working with us. We resolve issues efficiently and support the companies in every possible way.
We are also providing completely reliable and innovative solutions to all your requirements regarding accounting and bookkeeping, auditing, and other services.
If you want to reach out to our accountants for a meaningful discussion on auditing services in HFZA in UAE, connect with us.
If you want to reach out to our accountants for a meaningful discussion on auditing services in HFZA in UAE, connect with us.