DDA Registered Businesses must Submit Audited Financial Statements by November 30, 2022
DDA Audit Requirement:
All companies registered under Dubai Development Authority (DDA) umbrella are required to submit DDA Audited Financial Statements. BensCA group among the Top Audit Firms in Dubai are Registered Auditors with DDA (Dubai Development Authority). The requirements mandate all private companies (Free Zone LLCs) and branches to submit Audited Financial Statement by the set timeline, the audit report must be accompanied by a summary sheet. Going forward, all companies must file audit report within 6 months after the end of their financial period.
The Dubai Development Authority known as DDA, is one of the leading free zone facilities in UAE comprising more than six thousand companies, contributing to UAE economy a significant role. Under the DDA umbrella, free zones like Dubai Internet City, Dubai Media City and In5 are playing key role in nurturing the businesses in UAE.
According to DCCA regulations 2016, entities must keep their accounting records and books for an average of eight years. or for any other period, the registrar may specify. There are a number of Bookkeeping Firms in Dubai who can help maintain proper accounts for management and compliance.
Rationale of DDA Audit Report?
Being a key player in UAE economy, DDA is proactively preparing its infrastructure ready for UAE Corporate Taxation (UAECT) which is effective from year 2023. We, being professional auditors in UAE, expect similar measures from all other free zone in the UAE. Therefore, at this stage, businesses registered under Dubai Development Authority are required to file their latest audited financial statements along with a summary sheet, by 30th November 2022 via AXS portal.
What is an Audit Report?
An audit report is a set of financial statements prepared by registered or approved auditors in the jurisdiction of the audit. Most of the Top Auditor in Dubai are registered across all freezons. An audit report is authentication of the financial results on a business by the independent auditors or accountants. Any business whether mandated by its jurisdiction or otherwise, is highly recommended to conduct an independent audit on yearly basis.
How we can help:
Being one of the main tier Audit Firms in Dubai, Bens Group is registered with DDA, already serving the DDA community for Accounting, Tax and Liquidation needs. Our professional auditors are fully geared up to establish business partnering to support you in DDA Audit Requirement.
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