As a matter of fact, we are one of DMCC’s top-approved auditors. Entrepreneurs, executives, family offices, and expanding companies can turn to Alya for auditing, accounting, and tax advisory services.
In addition to gold and diamonds, DMCC facilitates trade in tea, food, and industrial materials. DMCC has a world-class infrastructure, services, and a vibrant community that accommodates over 18,000 companies.
For this reason, DMCC maintains an extensive compliance framework for ensuring compliance with local and international laws.
Indeed, all DMCC member companies must have their audited financial statements audited by an auditor approved by the DMCC every year.
DMCC Account Number
Alya Almarzooqi Auditing
Office No1802, Silver Tower, Business Bay, Dubai, UAE
+971 4 876 9377
+971 52 9750690
Yes, as part of the renewal process of their licenses, all member companies in the DMCC free zone must submit an audit report prepared by an approved auditor.
The DMCC free zone requires every company to keep audited financials of the last five years. Business owners who fail to submit required documents to the free zone authority can be fined up to 5,000 AED or have their trade licenses rejected.
Basically, you should present the auditor with documents such as the trial balance, VAT return filings, general ledger, important business contracts, legal documents (copies of trade licenses and MoA), a fixed asset schedule with calculations of depreciation, a schedule of payables and accrued expenditures, a list of advances and prepayments, and a list of customers, suppliers and bank reconciliations, etc. Preparing the papers appropriately will make the auditing process easier for you as well as the auditor.
Chiefly, in order for an Audit Firm to be approved as an Approved Auditor and be maintained on the Approved Auditor List, the Audit Firm must be able to demonstrate to DMCCA’s satisfaction that the Audit Firm meets certain requirements.
The following are the list of documents to be maintained by each DMCC entity for the annual audits :
Undoubtedly, as part of your preparation for the audit in Dubai, UAE, you should be sure to review the Memorandum of Association (MoA), the Articles of Association (AoA), as well as the company bylaws.
Furthermore, A statement listing all bank accounts, including the bank name, account number, and authorized signatories should be prepared. The auditor will also need confirmation of the bank’s balances from the bank itself.
Absolutely, As part of the audit, you should mention all transactions that took place at your company for a specific period. Bills and invoices should be attached to the order.
Definitely, the trial balance is the first thing auditors check as all the numbers in your company’s financial statements are traceable back to it.
Basically, Alya Auditors is owned by Professionally Qualified Chartered Accountants.
In addition to Auditing, Internal Auditing, Accounting, Business Advisory, Financial Consultancy, and Management Consulting, our accountants have extensive experience in these fields.
Furthermore, we are registered with all the major banks and financial institutions in the UAE.
To emphasize, we conduct audits in accordance with the provisions of IFRS. Definitely, we are one of the listed Auditors as per the Approved Auditors List under DMCC 2023 Sl.No 31. We are also members of the International Association of Accountants and Auditors.