SAIFDMCC Approved Auditors and Accountants
DMCC Approved Auditors rule aim to register auditors who will ensure the best quality audit services offered to DMCC member companies and provide the assurance that the Audited Financial Statements represent true and accurate financial position.
Established in 1994, with offices in Dubai, HFZA-Sharjah, London, Cardiff and associate offices in India
In association with our International network, SGA World, we currently serving more than 1300 customers world wide.
Why Saif Chartered Accountants?
We at Saif, believes in our vision, skills, expertise and professionalism of our team. We ensure keen insight to foresee the trends and meet the needs of our local and international customers. We provide a highly supportive environment to ensure that our services and insights retain a competitive edge at all times. We proudly offer a very competitive price tags and deliverables dispatched on time.
Our audit & assurance practice is the core of our services. Our vast experience in the profession for more than two decades helps us to offer the best of the industry services to all our clients.
We offer simplified monthly accounting, book-keeping / payroll services to provide a quick and accurate picture of your business activity and help your business for keeping proper VAT records, dealing with your VAT returns.
Best Reliable Solution For Your Business
We at Saif, believes in our vision, skills, expertise and professionalism of our team. We ensure keen insight to foresee the trends and meet the needs of our local and international customers. We provide a highly supportive environment to ensure that our services and insights retain a competitive edge at all times.
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DMCC Company Formation
The World's fastest growing Free Zone
Made for Trade, DMCC have firmly established Dubai as a leading centre for trading international commodities and the world's fastest-growing Free Zone. DMCC promote and facilitate trade across a range of goods from gold, diamonds and precious metals to tea, food and industrial materials. DMCC believes in offering the best possible service and assistance to the companies and clients
The Directors of every Company must procure the preparation of accounts for each financial year of the Company.
The accounts must:
- be prepared in accordance with and comply with International Financial Reporting Standards;
- show a true and fair view of the profit and loss of the Company for the period and
of the state of the Company’s affairs at the end of the period; and
- be approved by the Directors and signed on their behalf by at least one of them.
Within six months, or such other period prescribed by DMCCA, after the end of the
financial year of the Company, the accounts for that period must be:
- prepared and approved by the Directors;
- examined and reported on by an auditor approved by DMCCA; and
DMCCA Company Regulations – Update date: 2 of January 2020- Version 2 48
- laid before a General Meeting for discussion and, if thought fit, approved by its
Shareholders together with a copy of the auditor’s report.
Each Company must file a copy of the accounts and the auditor’s report with the Registrar within five Business Days of the relevant General Meeting, providing such additional information as requested by the Registrar.
Every Company must keep accounting records including underlying documents which are sufficient to show and explain its transactions so as to:
- disclose with reasonable accuracy the financial position of the Company at any time; and
- enable the Directors to ensure that any accounts prepared by the Company under
this Section 11 comply with the requirements of these Regulations.
Each Company’s accounting records must be:
- kept at the Company’s registered office or such other place that the Directors think fit;
- be open to inspection by an Officer or auditor of the Company at all reasonable times;
- preserved by the Company for:
i) in the case of a Company which is a taxable person for the purposes of the
tax laws applicable in the UAE from time to time, at least five years from
the end of the applicable tax period to which they relate;
(ii) in the case of a Company which is not a taxable person for the purposes
of the tax laws applicable in the UAE from time to time, at least five years
from the end of the calendar year to which they relate; and
(iii) in the case of accounting records relating to real estate, at least fifteen
years from the end of the calendar year to which they relate, or such longer period as may be required from time to time pursuant to any tax law applicable in the UAE; and
- otherwise kept and maintained in such manner as prescribed by DMCCA from time to time.
A Company must appoint a firm of auditors who must examine and report on the accounts prepared pursuant to Regulation 71, in accordance with these Regulations. A Company may, in its discretion, appoint an auditor solely to report on its accounts and not on a
general retainer basis.
A Company must appoint its auditor at a General Meeting.
- the auditor has been registered by DMCCA as an approved auditor;
- the auditor has, prior to the appointment, consented in writing to the appointment; and
- the Company is not, on reasonable enquiry, aware of any matter which should
preclude the auditor from giving its consent
A Company’s auditor must make a report to the Company’s Shareholders on the accounts
examined by the auditor.
The auditor’s report must state:
- whether in the auditor’s opinion the accounts have been properly prepared in
accordance with International Financial Reporting Standards;
- that the accounts give a true and fair view of the profit or loss of the Company for
the financial year;
- that the accounts give a true and fair view of the state of the Company’s affairs at the end of the financial year;
- that the Company is undertaking only activities permitted under its License; and
- any other matter or opinion required by DMCCA from time to time.