Jebel Ali Free Zone (JAFZA), recognized as one of the globe's most extensive free zones, focuses on industry, trade, and logistics, attracting international partners to the country. By fostering a community characterized by trust and operational efficiency, JAFZA has significantly contributed to Dubai's and the UAE's economic growth. Its strategic location and state-of-the-art infrastructure have positioned it as a key player in facilitating global trade and investment.
Within the vibrant business landscape of JAFZA, the role of JAFZA Auditors holds paramount importance. JAFZA approved auditors play an important role in ensuring compliance with regulatory standards and upholding the integrity of financial reporting practices within the free zone. Their inclusion in the JAFZA Approved Auditors List signifies their credibility and expertise in auditing practices, providing businesses with assurance and confidence in their financial operations. As trusted advisors, JAFZA Auditors contribute to maintaining the transparency and reliability essential for sustaining JAFZA's reputation as a premier business hub in the region.
It is essential to avail the services of an approved auditor for conducting the Audit of your Company, as only an approved auditor can conduct an Audit of a company in the free zone.
The appointment of JAFZA Approved Auditors is crucial for all registered companies to ensure compliance with auditing standards and regulatory requirements. As mandated by JAFZA regulations, companies must enlist the services of auditors from the JAFZA Approved Auditors List to conduct audits of their books of accounts. These auditors possess the necessary accreditation and expertise recognized by the JAFZA free zone's governing authorities, ensuring the audit process's integrity and accuracy.
Any audit firm not included in the JAFZA Approved Auditors List is prohibited from conducting audits within the free zone, emphasizing the importance of selecting auditors in JAFZA from the approved pool. By appointing JAFZA approved auditors, companies uphold the highest compliance and accountability standards, fostering trust and transparency in their financial operations within the JAFZA-free zone.
At Excellence Auditing, we understand the importance of maintaining high financial transparency and compliance standards, especially within the JAFZA free zone. Our auditing services encompass a thorough adherence to the International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) for Accounting, ensuring accuracy and reliability in financial reporting. Committed to excellence, we provide comprehensive audit solutions that meet the needs of companies operating within the JAFZA free zone.
Our team of experienced JAFZA Auditors guarantees meticulous and impartial audits that uphold the integrity of financial records. We go beyond the audit process to identify improvement areas and offer strategic recommendations to help companies achieve their organizational goals. By partnering with Excellence Auditing, businesses in JAFZA gain access to professional audit services that ensure compliance with regional and international regulations and enhance their credibility with stakeholders and regulatory authorities, paving the way for sustained growth and success.
For companies registered in Jafza (Jebel Ali Free Trade Zone), they must be audited by JAFZA listed auditors. According to free zone regulations, all companies registered in JAFZA should have auditors approved by JAFZA to prepare annual audit reports.
Every company has to maintain books of accounts, at the registered office or any office that the board of directors may decide. If the company is maintaining books at an office other than the registered office, it has to intimate the same to RoC. The company can maintain the accounts electronically also.
Books should be maintained for a period of 5 years from the end of the relevant financial year.
The Jebel Ali Free Zone Authority has stipulated a number of businesses registered under it. In order to renew their license without any failure, external audits are conducted. The subsequent documents required while conducting auditing are:
Bank statements
Credit/ debit confirmation for all
financial transactions in the Books of Accounts
All invoices-purchases and
sales
Trade License,
Memorandum of Association (MOA), Articles of Association (AOA)
VAT certificate
Excellence is an approved auditor in JAFZA offers various services including Financial Advisory Services, Tax Consulting Services, VAT Registration, VAT Deregistration, and Internal/External Audit for Companies, Business Advisory Services, etc. in UAE.
As a JAFZA approved auditor, we offer the best services to the participating companies. Get in touch with us.