Auditors in JAFZA
The Jebal Al Free Zone is the largest free trade zone in the region spanning over 57 Sq.km and a flagship Free Zone of DP World UAE Region’s integrated business hub. The Jebel Ali Free Zone (JAFZA Freezone) is a well-designed ecosystem and community where various vibrant businesses bloom.
As a dynamic base for over 8,700 businesses, including over a hundred “fortune 500” companies from 100+ countries, JAFZA Freezone ensures that the compliance framework for business operations within the free zone aligns with the local and international laws, regulations, and best practices.
The JAFZA offers Trading, Service, Industrial, logistics and E-commerce licenses through the business forms such as Free Zone company, Free Zone Establishment, Public Listed Company, Branch of a foreign company and Offshore Company
The JAFZA PLC allows the investors to form a Limited Liability Company by registering at least two shareholders. The PLC must list the shares on a stock exchange as the regulations will enable the public to subscribe to the shares of this PLC.
JAFZA Authorities allow investors to lease plots of land, warehouses, office spaces, retail spaces, showrooms, Co-working spaces, and workstations. Also, they offer customized development solutions according to the investor’s needs and provide onsite residences to its workers.
HLB HAMT is an approved auditing firm in the Jebel Ali Free Zone (JAFZA Freezone) and has a base in JAFZA. We help our clients stay updated with the rules and regulations set forth by the Freezone and are supported by well-seasoned professionals who adhere to all the compliance requirements while auditing financial statements.
Our audit methodology includes the following:
- Planning and understanding of internal controls
- Risk Assessment
- Testing of controls and details
- Finalization of audit report and financial statements
- Reporting of Control weaknesses (if any) and suggest corrective steps
How can HLB HAMT assist you?
HLB HAMT is one of the leading and most recognized auditors in JAFZA. We offer businesses an honest and fair evaluation of their financial position and also ensure that the company’s accounts are free of any material misrepresentations and adhere to IFRS standards.
Frequently Asked Questions
Is audit mandatory for JAFZA companies?
The registered companies must appoint an auditor approved by JAFZA. All JAFZA-registered companies are required to complete the yearly audit report in accordance with the free zone’s regulations.
When is the deadline to submit audited financials in JAFZA?
According to JAFZA regulations, every firm must have their books of accounts audited by JAFZA-approved auditors within three months after the end of the fiscal year, or within an extended time if applicable. The companies are required to submit the audited financial statements along with the Annual Accounts Summary Sheet attested by the auditor.
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