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Meydan Approved Auditors in Dubai

Our firm is a leading chartered accountants & VAT/Tax adviser for entrepreneurs, high-net-worth individuals, family offices, and growing companies in UAE.

Meydan Free Zone is ideally situated in the heart of Dubai, close to Downtown Dubai, the Mohammed Bin Rashid Al Maktoum City, and the Dubai Logistics Corridor.In Dubai, it is one of the free zones that offers cost-effective business setup solutions. Investors from all over the world are encouraged to set up businesses in Meydan Free Zone, which offers full free zone incentives such as 100% ownership, no taxation, no currency restrictions, the ability to employ foreign workers, high-speed internet connectivity, and no import/export duty. The Meydan Free Zone only offers flexi desks, which is ideal for those who do not require a permanent physical office.

It is one of the free zones in Dubai that offers cost-effective business setup solutions. Free zone incentives in Meydan Free Zone attract many investors from all over the world, including 100% ownership, no tax, no currency restrictions, hiring foreign workers, high-speed internet connectivity and no import or export duties. There is only a flexi desk option available in the Meydan Free Zone, which is ideal for those who don’t require a permanent physical office setup for their business.

Our Auditing Service in Meydan Includes

Internal Audit

Helps in identification of problems or significant weaknesses in the organization.

Internal Audit

Internal audit is a comprehensive and thorough examination of an organization or one of its components.
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Statutory Audit

A statute is a law enacted by the government of the organisation's legislative branch.

Statutory Audit

A statutory audit is a legally required check of the accuracy of the financial statements and records of a company or government.
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VAT Audit

An audit of your tax return to verify that your income and deductions are accurate.

VAT Audit

It is a formal examination by approved Tax Agent of the company’s VAT Ledgers, Sales & Purchases Ledgers Trial balance reconciliation with standard rated sales.
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Due Diligence Audit

All companies should maintain International Financial Reporting Standards in their books.

Due Diligence Audit

IFRS assessment is conducted when new or revised accounting standard is implemented in any business from a specific date.
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Forensic Audit

Examination of a company's financial records to derive evidence.

Forensic Audit

Audit done at the specific request of the management to detecting or mitigating the chances of fraud or misappropriation of funds.
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Information System Audit

Ensures the system provides accurate information to users and makes sure unauthorized parties do not have access to private data.

Information System Audit

Ensures the system provides accurate information to users and makes sure unauthorized parties do not have access to private data.
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Frequently Asked Questions on Audit in Meydan

Yes, Auditing is mandatory for all Dubai Multi Commodity Centre (DMCC) Member Companies. In accordance with DMCC Company regulations, an auditor has to be appointed by every DMCC member Companies. Each DMCC companies should ensure that the appointed auditor is registered as an Approved Auditor in DMCC and is listed in the Approved Auditors List.

Every DMCC Company has to upload the Audited Financial Statements and Summary Sheet to the portal of DMCC  within 90 days after the end of the financial year. In certain cases the authority may provide extension of such period.

Submission of Audited Financials is applicable to all DMCC companies including subsidiaries and branch companies. DMCC Authority can request additional documents at any stage of the process as well as can request the original documents during inspection.

If a company fails to submit the financial statements audited by the approved auditors in DMCC, within 90 days from the financial year end, it will attract fine as per the provisions of the DMCC Company Regulations. Further there is a risk of non-renewal of trade license in DMCC as well.

The following are the list of documents to be maintained and submitted for auditors.

  1. Legal documents – Memorandum Of Association (MOA), Articles Of Association (AOA), Trade license copy, Share certificate, certificate of incorporation Tenancy contract etc.
  2. Bank statements and confirmations from banks
  3. Balance confirmation from debtors, creditors and third parties (as per the samples given by the auditors).
  4. Statement of deposits from the DMCC portal, copies of Ledgers, sales invoices, purchase bills, expenses bills etc.
  5. Complete set of books of accounts, trail balance etc.
  6. Such other information as the auditor may consider necessary.

Alya Auditing being the DMCC approved auditors audit the books of accounts in accordance with the provisions of International  Financial Reporting Standards (IFRS). Further we help you to design and prepare your financial statements in accordance with the International Financial Standards (IAS /IFRS)  without affecting the in dependency of auditing. We recommend to improve the internal control measures which will enhance the operating efficiency.

Meydan-Freezone-approved-auditors

Our Audit Procedure

Policies and procedures company documents on a desk.

Out of all our auditing services, we need to find a suitable one for you. Depending upon the industry, we select the audit cycles which are required to be implemented on your business. This helps us to prepare an accurate quotation for you.

After the approval of services and quotation, we need the company to provide us information required to conduct the audit. The data is based on the type of audit we perform. Generally, the financial data (credit notes, debit notes, invoices, purchases, etc.) is required for the Statutory Audit. The forensic audit requires information about employees as well.

Our tailor made plan depends upon the necessity of the client. For different audit types, such as balance sheet audit, cash flow statement audit, fraud audit inventory audit, cash audit, stock audit, etc., different methodologies have been developed. Alya Auditors has created its own techniques which are efficient enough to perform a precise audit.

Auditing is done for various sections, and different auditing reports are generated. We review the generated document to make sure it is with respect to the federal law of UAE. It is further merged into one before presenting in front of the board of directors and shareholders.

The audit report contains all the information required to know the complete picture of your company. Based on that, if you need further assistance in making any changes, we will be available for you.

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