DWC APPROVED AUDITORS
Established in 2006 by the Government of Dubai, the Dubai South Free Zone, formerly known as Dubai World Central (DWC), is a pivotal global business hub. Today, it is the largest and most prominent center for business, trade, and aviation worldwide. Renamed Dubai South, the free zone embodies its strategic positioning and evolving role in Dubai's economic landscape.
Dubai South Free Zone (DWC) is located near Al Maktoum International Airport, Business Park, Logistics District, Exhibition District, Aviation District, Residential District, Commercial District, Golf District, and Humanitarian District. This comprehensive infrastructure facilitates seamless logistics and cargo operations within the Middle East, GCC region and across the globe.
As one of the leading DWC approved auditors, we understand the unique needs of businesses within the free zone and provide specialized audit services tailored to ensure compliance and transparency in financial reporting.
WHY IS AUDIT MANDATORY FOR DWC COMPANIES?
Auditing is a mandatory process for DWC registered companies. It is essential for maintaining business operations and compliance. Firstly, auditing ensures the timely renewal of trade licenses, safeguarding companies from potential disruptions in their operations. Additionally, it helps prevent the suspension of existing trade licenses, a scenario that could significantly impact business continuity and reputation. By adhering to the requirements of auditors in DWC, companies can avoid hefty fines for non-compliance with regulatory standards.
It is a mandatory requirement for a DWC registered company to audit their book of accounts by approved auditors in DWC to:
- Ensure Trade License Renewal
- Prevent suspension of the existing trade license
- Avoid hefty fines
According to the Memorandum of Association of DWC (Dubai South Free Zone), the DWC registered company must submit their audited financial reports within 90 days before the end of their respective financial year.
The document requirements should be:
- submitted 90 days before the end of the financial year;
- signed by the authorized signatory
- audited by an external DWC approved auditors
APPOINTMENT OF DWC APPROVED AUDITOR
In Dubai South Free Zone (DWC), appointing a DWC approved auditor is paramount for all registered companies. It is a mandatory requirement that the book of accounts undergo auditing, and only audit reports prepared by DWC approved audit firms are deemed acceptable. Companies within DWC are strictly prohibited from engaging audit firms not listed and authorized by the DWC (Dubai South Free Zone) Authority, ensuring adherence to regulatory standards and financial transparency.
The DWC (Dubai South Free Zone) Authority enforces stringent regulations regarding the auditing process, emphasizing the necessity for audit firms to be included in the DWC approved auditors list. This regulatory framework ensures the integrity and accuracy of financial reporting within the free zone. Moreover, DWC's comprehensive guidelines empower auditors with the authority to request essential reports, records, and data, facilitating a thorough and meticulous auditing process necessary for regulatory compliance and financial accountability.
EXCELLENCE AUDITING COVERS ALL YOUR DWC AUDITING NEEDS
At Excellence, we uphold the highest standards of auditing practices tailored to meet the unique requirements of Dubai South Free Zone (DWC) companies. Our meticulous approach aligns with the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) for Accounting, and the International Standards on Auditing (ISA), ensuring comprehensive and accurate examination of financial records.
As an approved auditor in DWC, we meticulously analyze financial statements, identify areas for improvement, and offer strategic recommendations to help companies achieve their organizational goals. With our expertise, DWC companies can confidently navigate complex regulatory landscapes, bolstering their credibility with stakeholders, government entities, financial institutions, and other authorities while ensuring compliance with local and international regulations.
100% foreign ownership
