The Dubai Multi Commodities Centre (DMCC) Free Zone, located in the Jumeirah Lake Towers (JLT) offers a variety of benefits while setting up a company including different types of licenses, flexible office structures and hassle-free business set up procedures. However, it is mandatory that the businesses in the DMCC Free Zone get their books of accounts audited from registered & approved auditors with DMCC Authority.

DMCC Regulations for Company Auditing

As per the Dubai Multi Commodities Centre Authority (DMCCA) Regulations no. 1 of 2020, replacing DMCC Regulation No. 1 of 2013, DMCC has enrolled Dubai auditors in the DMCC Approved Auditors List as per the recently released Approved Auditors List Rules. The DMCC states that the approved auditor’s list will ensure the best quality audit services offered to the companies operation in the DMCC. The audit firms that have reputed chartered accountants, follow the best practices & accounting standards of local and international reporting standards such as IFRS (International Financial Reporting Standards) and international affiliations and have a track record of conducting financial audits are listed as the registered audit firms with DMCC. Using the services of registered auditors in Dubai, DMCC make sure that the Audited Financial Statements represent the true and accurate financial position of the member companies.

According to the DMCC website, the Approved Auditors List Rules also mandate that all DMCC member companies must submit their Audited Financial Statements through a DMCC Approved Auditor, which will be implemented over a transitional period. The DMCC mandates that the audited financial statements need to be submitted within 90 days after fiscal year-end.