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What you need to know now
For a DIEZ engagement, establish the exact licensing jurisdiction and ask the authority to confirm its current auditor-acceptance and submission requirements. A firm’s approval in another zone should not be treated as proof of eligibility.
Confirm the current authority requirements and acceptance of your proposed auditor before appointment. A historical listing does not establish current eligibility.
- Use the entity’s current licence to identify the responsible authority.
- Ask for the current filing instructions, accepted report format and any auditor-eligibility requirements.
- Verify the audit firm’s professional licence and agree the reporting period.
Identify the zone before deciding the audit requirements
DIEZ-related articles can refer to more than one economic zone. Start with the authority and zone shown on the entity’s current licence, then check the requirements applicable to that specific registration. Do not assume that an auditor list, deadline or report format found for a different zone automatically applies. A clear jurisdiction check is especially useful for groups that operate several licensed companies and use one finance team to coordinate all of their annual reporting.
Build a requirements register for each licensed entity
Create a short record containing the company name, licence number, financial year-end, responsible authority, current reporting instructions and the person accountable for submission. Add the source and date of any confirmation about auditor acceptance. This is a practical management tool, not a substitute for the authority’s rules. It helps staff identify which requirements have actually been checked and prevents an old article or another group company’s experience from becoming the assumed rule for every entity.
Scope shared accounting work carefully
A common finance system can support several companies, but the audit file still needs to identify the transactions, balances and contracts belonging to the particular entity. Reconcile intercompany amounts and explain shared costs or central services. Keep each company’s approvals and final reports separately identifiable. Tell the proposed auditor about group structures and shared systems at the quotation stage so that the engagement reflects the work needed rather than assuming that all companies can be reported together.
Keep approval claims evidence based
Verify the proposed firm’s professional registration and obtain any additional authority acceptance required for the specific engagement. Current Saif approval for every DIEZ-related zone has not been established by the sources reviewed for this page. The useful next step is a documented authority check, followed by a clear engagement and preparation plan. Retain the response, the signed report and submission evidence so that a later review can trace the company’s decisions to its actual licensing and reporting position.
YOUR NEXT STEPS
A practical way forward
- 01
Step 1
Send the authority the entity name, licence and financial year-end.
- 02
Step 2
Confirm in writing the submission deadline and proposed auditor’s acceptance.
- 03
Step 3
Prepare the ledger, bank reconciliations and schedules for the agreed audit.
CLEAR ANSWERS
Frequently asked questions
Can a DMCC listing prove eligibility here?
No. Check the requirements of the authority that issued the company’s licence.
What can I prepare while requirements are confirmed?
Reconcile bank accounts and balances, organise contracts and invoices, and identify the person responsible for answering audit queries.
Earlier article & background First published 22 September 2021 · retained for context
This earlier article is preserved for context. Its rates, deadlines, approvals and announcements may have been superseded. Use the current guidance and official references on this page for your next step.
DIEZ Approved Auditors – Dubai Integrated Economic Zones
About DIEZ
DIEZ Approved Auditors : Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has issued Law No. (16) of 2021 creating the Dubai Integrated Economic Zones Authority, an independent legal entity with financial and autonomy.
Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City will operate under the supervision of the newly created Dubai Integrated Economic Zones Authority,
“The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness. The private sector is a major partner in our development journey over the next 50 years and the government continues to explore innovative initiatives to support their growth and success. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce,” Sheikh Mohammed said.
Over 5,000 international firms, covering 20 key economic sectors and employing 30,000 employees from all over the world, will operate under the Dubai Integrated Economic Zones Authority. Economic activity regulated by the Authority generates 5 percent of Dubai’s GDP.
One of the Authority’s key focuses is to attract local and international companies to set up their headquarters in Integrated Economic Zones in the emirate. Furthermore, it seeks to promote Dubai’s economic competitiveness especially in retail, technology, Islamic economy, e-commerce, industrial, logistics and shipping sectors. It also aims to support SMEs and drive entrepreneurship and innovation across sectors.
DIEZ Approved Auditors
Saif chartered Accountants is one of the registered approved auditors for DIEZ (registered independently with all member free zones).
Why Saif Chartered Accountants as DIEZ Auditors ?
Our passion at Saif Chartered Accountants is to provide the highest level of Audit, Accounting and Advisory services to assist you in managing your affairs and growing your business.
Our accounting and advisory services are tailored to fit the unique needs of each individual or business because we understand that every client is different.
Contact: +971 50 3244029, +971 04 4518 600
Mail: info@saifaudit.com
VERIFY THE DETAIL
Official sources & further reading
Source checks support this general guide. Your treatment depends on the facts, tax period and applicable legislation.
