Skip to content

Is Audit mandatory for DMCC/JLT companies ?

Yes, all Dubai Multi Commodity Centre (DMCC) Member Companies are required to conduct audits. Every DMCC member company must appoint an auditor in accordance with DMCC Company regulations. Each DMCC company should ensure that their auditor is listed in the Approved Auditors List and is registered as an Approved Auditor with DMCC.

2022 DMCC Approved Auditors –Alya Auditors

The approved auditors for DMCC/JLT in Dubai are Alya Auditors. 
We are one of the authorized auditing firms in Dubai, UAE, for the establishment of businesses in all free zones and LLC companies outside of free zones.

Is it necessary for DMCC Companies to submit their audited financial statements to the Authority?

Within 90 days following the end of the financial year, every DMCC company must upload its audited financial statements and summary sheet to the DMCC portal. In some situations, the authorities may grant a period extension.The DMCC Authority has the authority to seek new documents at any point during the procedure, as well as the original documents during inspection.

Do you need help with the audit of your DMCC business?

Alya Auditors, as DMCC approved auditors, audit the books of accounts according to the International Standards on Auditing (ISA). Additionally, we assist in designing and preparing your financial statements in accordance with the International Financial Standards (IAS/IFRS) without affecting the independence of the audit. Finally, we recommend improving the effectiveness of internal controls as a measure of increasing efficiency.

What are the documents to be maintained for Audit?

Here is a list of the documents you’ll need to keep and give to auditors.

 

  1. Memorandum of Association (MOA), Articles of Association (AOA), Trade license copy,  Share certificate, certificate of incorporation, Tenancy contract, and other legal papers
  2. Bank statements and bank confirmations
  3. Debtors, creditors, and third parties have confirmed the balance (as per the samples given  by the auditors).
  4. Deposit statements via the DMCC portal, copies of ledgers, sales invoices, purchase bills,  expense bills, and so on.
  5. Complete collection of accounting books, including trail balances, etc.
  6. Any additional information that the auditor deems necessary.

What makes Alya Auditors unique in DMCC auditing?

  1. Audits are conducted according to International Standards on Auditing (ISA).
  2. Registered auditor as per Approved List of Auditors
  3. Offering quality services on a time-bound basis to our clients.
  4. To achieve financial and social success for our clients.
  5. Chartered Accountants, ISO Certified.
  6. working with all UAE banks in all free trade zones.
error: Content is protected !!