Companies established in free zones and holding a free zone trade licence are required to submit an audited annual financial statement upon renewal of their free zone trade licence.
Free zone companies can choose their financial year according to their needs. However, the financial year chosen must start from the date of registration and may not be less than 6 months and not more than 18 months.
Audit Services For Free Zone Companies In The UAE
It is mandatory for all companies registered in the Free Zones to carry out an annual audit and submit it to the relevant authorities. If they fail to submit the audit report, the registered company may be subject to a heavy fine.
To avoid fines and penalties, an audit must be carried out in the free zone. Al Hayat Accounting is one of the Top Audit Firms in Dubai. We are registered and approved in all major free zones in the UAE and provide annual reporting as required by the free zones.
Associations With Audit Firms In The UAE
As an approved free zone auditor in Dubai UAE, our team is experienced and qualified to audit in accordance with free zone regulations and compliance requirements.
Al Hayat Accounting is also associated with many other audit firms operating in various free zones across the UAE. We can provide all types of audit reports from any of your preferred free zones.
The internal audit ensures that the company is on the right track by improving risk management and adhering to international and local guidelines.
A good internal audit system is not only a great way to assess a company’s performance, but also provides better governance by improving the company’s governance, risk management and management control.
Internal auditors are the eyes and ears of management, make sure that with us you are neither deaf nor blind. As the best internal audit firm in Dubai, we understand how critical internal audit is for a company to ensure information security and regulatory compliance. We are regarded as an authority in all aspects of the accounting world and have now become a household name among business owners.
We are proud to be the trusted entity for a number of prestigious companies in Dubai and other emirates in the UAE. We incentivise our clients to increase sales.
Al Hayat Accounting Team
Our experienced team of internal auditors and one of the top Audit Firms in Sharjah Freezone bends over backwards to ensure that the assets of the companies being audited are protected and that firm-level risks are properly addressed. We work with all types of companies, whether it is family-owned businesses or public limited companies. In pursuit of excellence, our detail-oriented internal audit team performs many tasks, from reviewing financial statements, expense reports, inventories, financial data, budgeting and accounting practices, to creating risk assessments for each division. Detailed notes are taken, staff are interviewed, work schedules are monitored, physical assets are checked and financial statements are scrutinized to eliminate potentially damaging errors or misstatements and find ways to increase productivity.
Our experienced team takes a risk-based approach to assessing and mitigating the organization’s risks. In addition, we also help clients manage costs, increase business productivity and take performance to the next level.
Audit Benefits for The Business
- Helps maintain compliance and helps understand the business.
- Provides help in making decisions about the future of the business.
- Helps at tax time and during liquidation.
- Helps to detect any fraudulent activity or waste of resources in the company.
- Helps to preserve the company’s reputation.