21 October 2026 · SAIF insight
Start with the company and reporting period
Confirm the legal entity, DMCC licence, financial year-end, prior-year opinion, reporting framework and any group reporting requirements. Set a realistic timetable backwards from the Member Portal filing date. DMCC’s published application guidelines specify upload of the audited statements and Summary Sheet within six months after each financial year-end; a company-specific portal notice should also be checked.
Assign an internal owner for the accounts and one contact for auditor queries. The member company is responsible for appointing an eligible auditor and submitting the documents. Management prepares and approves the statements; the auditor’s role is independent examination and reporting.
Close the ledger before fieldwork
Reconcile bank accounts, cash, receivables, payables, intercompany balances, payroll, inventory and fixed assets to the trial balance. Investigate unreconciled differences instead of parking them in suspense accounts. Keep the final trial balance and a clear record of later adjustments.
If the business holds inventory, make count instructions, count sheets and valuation support available. If it has long-term contracts, major estimates or financing, prepare the underlying contracts and management’s calculations. The audit team will still test these areas independently.
Build a usable evidence file
- Current licence, constitutional documents, ownership chart and relevant board minutes.
- Prior-year audited statements and opening-balance reconciliations.
- Bank statements, confirmations and reconciliations for every account.
- Customer and supplier ageing, major invoices, credit notes and subsequent receipts or payments.
- Inventory records and fixed-asset register, where relevant.
- Loan, lease, shareholder and related-party agreements.
- VAT and Corporate Tax records reconciled with the ledger and financial statements.
- Management’s support for provisions, impairment, going concern and other material estimates.
The exact request list depends on the business model and audit risks. A shared folder should use clear names and access controls; do not send passwords or sensitive records in an initial web enquiry.
Resolve questions while there is time
Unusual transactions often need more than a journal entry. Identify related-party charges, revenue cut-off, missing purchase invoices, inventory differences and uncertain recoverability early. Management should agree the accounting treatment and supply the supporting rationale. If accounting clean-up is needed, scope it separately and assess audit independence before combining services.
Plan for the signed pack and upload
After fieldwork and review, management approves the final financial statements and the auditor issues its report based on the evidence obtained. The auditor’s signed and stamped Summary Sheet is prepared from the audited statements. The company then uploads both documents using the designated DMCC Member Portal request.
Do not assume that a 2023, 2024 or 2025 extension applies to the current year. Use the DMCC submission guidelines and the member’s current portal notices.
Need a proposal?
Share your financial year-end, company activities, prior statements, current trial balance and target reporting date with SAIF. We can explain the audit scope, information request and timetable. SAIF Chartered Accountants is listed under DMCC approved-auditor account 148497; confirm the current register at appointment.
