Financial Audit Report for IFZA are mandatory to submit to IFZA by all the companies having a license from IFZA. Xact Auditing is approved IFZA auditors in Dubai. All the companies in IFZA have to renew their trade licenses after one year and one of the most important concerns pop up about the financial audit report is whether it is mandatory to submit an annual financial audit report to IFZA for the license renewal? The answer is YES, all the companies in IFZA must submit Audited Financial Statements (AFS) to IFZA in order to renew their license.
It’s crucial for companies registered with IFZA to grasp the mandatory audit requirements and adhere to them to prevent any possible repercussions or issues during the license renewal phase.
Indeed, all corporations operating under the IFZA license are mandated to undergo an audit conducted by an approved audit firm by IFZA. As per the IFZA License Companies Regulations of 2023, it is required for every company to maintain comprehensive accounting records, including supporting documentation, to adequately demonstrate and clarify its transactions.
Furthermore, each company must submit its audited balance sheet within nine months following the conclusion of each fiscal year, conducted by an authorized auditor under the IFZA license. Xact Auditing is one of the approved audit firms by IFZA. Our audit reports are accepted by the IFZA.
Xact Auditing is one of the approved IFZA auditors in Dubai. We are also registered as DSO approved auditors and DIEZ approved audit firm in UAE.
We will assist you in business formation in IFZA along with license renewals in IFZA and our firm will ensure all kinds of business and tax compliances required by IFZA. We can assist you with the following services for IFZA:
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