Accounting and auditing services are critical for any company, regardless of size. They also ensure that a company is in compliance with all relevant laws and regulations.
There are many different types of companies that require accounting and auditing services. These services are important for ensuring the accuracy of a company's financial statements and records. Without these services, a company would not be able to properly track its finances and could make inaccurate decisions about its money.
Some examples of companies that require accounting and auditing services include public companies, private companies, and nonprofit organizations. Public companies are required by law to have their financial statements audited by an independent accounting firm. Private companies may also choose to have their financial statements audited, but it is not required by law. Nonprofit organizations typically have their financial statements audited as well, in order to ensure that they are using their donations and funding appropriately.
All mainland businesses are required to have an audit of their financial statements under the commercial firms law. These businesses are required to maintain their financial records for a minimum of five years.
Companies located in free zones may not always undergo audits. Companies are not required to submit an audit report by free zone authorities. Free zone businesses (FZCO) and free zone establishments are included in this (FZE).
WHY GO FOR FREEZONE COMPANY SET-UP?
Freezone is a special trade zone set up by the government to attract business activity. They offer a range of benefits such as a low-cost quick set and significant tax concessions. Each Freezone business setup in UAE specializes in particular business activity. Provides a conducive environment for business with like-minded businesses and people in the area. Each free zone is an independent regulatory body and is governed by the rules of that free zone.
Approximately 40 Free Zone are operating in the UAE, with more under developmental process. Each Freezone company formation is designed following one or more commercial categories and only offers licences to companies within those categories.
Find out how you can setup your business easily in Dubai by emailing us at info@adlerandpartners.com