The Dubai International Financial Centre (DIFC), a globally recognized financial hub, mandates that companies operating within its jurisdiction must have their accounts audited by registered auditors. Companies must submit their audited financial statements to the DIFC Authority within four months after the end of their financial year to renew their trade licenses. Only audits conducted by DIFC-registered auditors are accepted, ensuring compliance with both local and international regulations. Failure to comply may result in trade license renewal denials.
The audit process verifies that companies comply with DIFC’s stringent regulations, ensuring they are not involved in any financial irregularities. The Dubai Financial Services Authority (DFSA) regulates financial and other regulated entities, while the DIFC Authority oversees non-regulated businesses within the zone.
Established in 2004, DIFC serves as an international financial centre aimed at facilitating business expansion into regional emerging markets. As part of the UAE's strategy to diversify its economy, DIFC offers a unique legal and regulatory framework for financial and non-financial sectors, including banking, insurance, professional services, and wealth management. The centre operates under an independent judicial system aligned with English Common Law, with DIFC Courts handling civil and commercial cases related to companies in the zone.
As an autonomous financial zone, DIFC requires companies to undergo audits to comply with its advanced legal framework. Audits, conducted by registered firms like AARMAK, help companies align with local and international standards, enhancing their credibility. AARMAK’s expertise ensures that businesses operating within the DIFC meet all regulatory requirements, whether financial or non-regulated.
To conduct a proper audit, the following documents must be provided to the auditors:
These documents ensure the audit is thorough and aligns with DIFC regulations.
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