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What you need to know now
This 2018 auditor-list article is historical. Before commissioning a present-day DMCC audit, confirm the exact firm on DMCC’s current Approved Auditors List.
The original article is preserved below as a historical record. Earlier deadlines, rates, offers and approval statements should not be used as current guidance.
- Match the legal name on the engagement letter to the current list.
- Agree the reporting period, information request and delivery date before work starts.
- Keep appointment confirmation and the submitted audit package together.
Use the historical article to establish a reporting baseline
The 2018 article reflects an earlier stage of the portal’s audit-service information. An approval statement from that year is not evidence of present eligibility. For a current engagement, check the proposed firm through DMCC’s current documents and retain a dated record. For a company arranging its first audit, the more useful starting point is a complete description of the business, the reporting period and the state of its accounting records, rather than the age of a promotional listing.
Prepare the permanent company information once
Create a controlled file containing the licence, constitutional documents, ownership information, significant agreements and management contact details relevant to the engagement. Check that the legal name and financial year agree with the records used for reporting. Explain changes since incorporation or since the last signed accounts. This provides the auditor with stable background information and reduces repeated requests for basic documents, while leaving management responsible for supplying accurate and current information about the entity.
Set up the first annual audit file
Collect the trial balance, transaction ledger, bank reconciliations and supporting schedules for significant balances. Identify related-party transactions and unusual entries rather than leaving them hidden within general accounts. Discuss any physical procedures or third-party evidence that may need planning before year-end. If opening balances or earlier records are incomplete, tell the proposed auditor before agreeing the completion date. A first audit can require background work that is not visible from a current-year summary report alone.
Turn the engagement into a repeatable process
Agree an internal coordinator, a query tracker and a process for approving adjustments and final statements. Retain the final audit package and authority submission evidence in the company’s records. After the work, note which schedules can be maintained throughout the year and which approvals need clearer documentation. This gives the historical article a useful modern purpose: helping businesses establish a dependable reporting routine while directing all current approval and appointment decisions to current authority information.
YOUR NEXT STEPS
A practical way forward
- 01
Step 1
Open the current DMCC auditor documents.
- 02
Step 2
Obtain written confirmation of the proposed auditor’s eligibility.
- 03
Step 3
Confirm scope, independence and the submission timetable.
CLEAR ANSWERS
Frequently asked questions
Does an old listing prove approval today?
No. Use the current authority list and confirm the exact firm being engaged.
Should I choose an auditor on rankings alone?
Compare eligibility, relevant experience, independence, scope and fees. A promotional ranking does not demonstrate these.
Read the original article First published 22 July 2018 · 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.
DMCC Approved Auditors 2018
DMCC Approved Auditors 2018 – SAIF Chartered Accountants
DMCC Approved Auditors 2018 : Saif Chartered Accountants, the leading auditing firm in Dubai, UAE cater all your licensing needs in DMCC. Established in 1994, with offices in Dubai, Hamriyah Free Zone, Sharjah and associate offices in RAK Free Trade Zone, London, Cardiff, and India. Saif Audit caters to a wide spectrum of clientele from diversified industries located in UAE. We are affiliated to SGA, a professional services firm helping clients develop better business strategies that build on their unique inherent and potential strengths the philosophy of the company, how it is organised to understand market opportunities and customer needs, and the methods it uses to deliver products and services. We help companies to continually adapt and continually improve. SGA uses a commonsense methodology developed from of its broad international experience with businesses.
DMCC Approved Auditors 2018
Audit and Assurance Service for DMCCA companies
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, at Saif Chartered Accountants, follow the professional approach in planning and executing the audit assignment.We often associate with our clients to know more about their needs, their issues and predicaments. We assist them to evolve a better environment for a fruitful business operation and maintain a sustainable growth as year’s progress. We usually provide qualitative information to assist our clients to locate key issues in various segments of their industry and suggest remedies.
ACCOUNTING – VAT/TAX
Saif Chartered Accountants offers simplified monthly accounting, book-keeping and payroll 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.
What we offer
- We will make sure that the relevant books and records are maintained in the appropriate manner
- Update of the invoice templates to ensure that all relevant information for VAT Invoices are included
- This involves preparation and maintenance of every daily accounts of the company
- Preparation and filing the VAT returns assistance
- Onsite or online service available
DMCCA AUDIT : Penalties for Non Compliance of Audit for companies in DMCC / JLT
Saif Chartered Accountants (SGA) is one of the approved auditors in DMCCA/JLT (DMCC Approved Auditors List number: 148497 Saif Chartered Accountants ).
As per the DMCC Audit regulations, every new company licensed in DMCC has to appoint an auditor, approved by DMCC, and submit auditor’s appointment letter to DMCC within 30 days of the licensing date. Its mandatory to submit the audited financial to DMCC within 90 days of the financial period. Non-compliance with the above will attract DMCC penalties.
Call us: 04 451 8600 or 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.
