The Hamriyah Free Zone (HFZ) is a major industrial hub, attracting businesses with its favorable policies, strategic location, and efficient regulatory measures, including mandatory financial audits. The Hamriyah Free Zone Authority (HFZA) requires companies to have their financial accounts audited by independent auditors registered with the authority. This ensures that business activities within the zone remain well-regulated, controlled, and compliant with both HFZA and federal regulations. The effectiveness of these measures is reflected in the more than USD 3 billion in foreign investments attracted by HFZ.
Strategically located in Sharjah, the third-largest emirate in the UAE, HFZ provides world-class business facilities, including offices, warehouses, and factories. The zone supports industries such as heavy manufacturing, logistics, oil and gas, petrochemicals, steel, recycling, food, textiles, and cosmetics. Additionally, HFZ allows for services like banking, auditing, and currency exchange. Sharjah, recognized as the Cultural Capital of the Arab World by UNESCO, offers an ideal environment for businesses seeking growth and development.
Companies in HFZ must maintain accurate accounting records that reflect their financial position in compliance with International Financial Reporting Standards (IFRS). These records should include:
All records must be stored at the company's registered office within HFZ and be accessible to shareholders or their representatives. The company's first financial year is determined by its incorporation date as per the Certificate of Incorporation.
AARMAK is a registered auditing firm with the Hamriyah Free Zone Authority. Our highly qualified auditors ensure that your financial accounts are audited in compliance with both HFZA requirements and international standards. By engaging AARMAK, companies can be confident that their financial statements will present a true and fair view, providing credibility to stakeholders, clients, and authorities.
Our auditors at AARMAK bring years of experience in supporting HFZ companies, helping them meet compliance standards and maintain business stability and growth. Rely on AARMAK to deliver timely, accurate audits that reinforce your company’s reputation in a regulated market.
To conduct the audit, companies must provide the following documents:
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