DMCC Audit – Saif Chartered Accountants, Dubai, UAE
DMCC Audit : Saif Chartered Accountants, one of the leading auditing firms in Dubai, UAE cater all your licencing needs in DMCC (Dubai Multi Commodities Center) & JLT (Jumeirah Lakes Towers)
DMCC Audit Compliance
Audit in DMCC/JLT registered companies are made compulsory.
DMCC Audit : Penalties for Non compliance of Audit for companies in DMCC/ JLT
As per the DMCC Audit regulations, every new company licensed in DMCC has to appoint an auditor, approved by DMCC, and sumbit auditor’s appointment letter to DMCC with in 30 days of the licensing date.
Also it is mandatory to submit the audited financial to DMCC within 90 days of the financial period reporting date, non-compliance of the above will attract DMCC penalties.
Recently the free zone Authority issued a fine policy for all the clients who have not submitted the audited financials on time. Audit in DMCC/ JLT is compulsory for all registered companies in the free zone. As per DMCC Audit guide lines all its registered members need to submit audited financials for each year within three month from the date of financial year ended. Those clients failed to submit audited financials on time are being penalized for a minimum of AED 5000 for each financial year. DMCC has already implemented and started to issue fines for the clients who have not submitted audited financials. If any registered member in DMCC has not prepared and submitted the financials to free zone authority then you will be experiencing financial penalties and service termination also.
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