Today’s corporate world is transforming at a rapid speed, way beyond imagination. Backed by technology, every business domain is evolving way beyond imagination and can establish a separate identity in the competitive market. When it comes to Dubai, business owners and investors have got numerous options to invest-in. The Dubai Airport Free Zone Authority (DAFZA), established in 1996, turns out to be one of the fastest free zones holding a count of more than 1600 companies from different domains. These companies demand audit reports that need to be presented to the respective authorities. In case if you are planning to start a business in DAFZA, then it is to be noted that your company demands audit services that need to be performed. Let’s understand it.
A Glimpse of DAFZA
DAFZA, one of the famous free zones in Dubai, turns out to be an investment driving platform for the entire economy. It has become a gateway to multiple companies seeking business opportunities in the region. The region offers numerous benefits like 100% tax exemption and foreign ownership that attracts the attention of international investors. Not only that, it provides world-class infrastructure to the investors dealing in different business industries to carry out their business operations. Now, let’s focus on the need for audit in DAFZA.
Why Business Organizations in DAFZA Requires Audit?
As one of the famous free zone destinations in Dubai, the Government Authority of DAFZA requires the business entities to perform audit services and submit audit report. As per the regulations, all the FZE and FZCO companies registered in DAFZA have to conduct an audit of their financial statements from approved auditors in the UAE.
Audit- A Mandate
Audit, known as an investigation process that takes place in every registered business entity, helps a business owner to identify the loopholes prevailing in the premises. Moreover, it streamlines the company’s internal proceedings and paves out new ways for business owners to flourish and accelerate their business growth. While carrying out the same in an organization, a company needs to go through internal audit and external audit.
At the same time, it is to be kept in mind that carrying out the audit processes is not an easy task. Minute details are taken into consideration by the audit experts, which may not be possible by an in-house team. Professional techniques and methods are applied at every point to bring out the best result, and that’s the reason business investors prefer to choose subject-matter experts to carry out the audit task in their organization. There are multiple parameters that need to be looked into before outsourcing the audit services to an outsider. Click here to know more on it. Moving ahead to get better clarity, let’s have a look at the benefits that you can derive by outsourcing your audit services.
Benefits of Availing Audit Services in DAFZA
Once you outsource the audit services to Abu Dhabi VAT Consultants, you can avail the following benefits:
- Auditing helps you to understand the business insights in a clear way
- Invalid business practices will be known, and immediate actions can be taken
- Earning a good audit score will help you to increase the overall business goodwill
- The work process will get streamlined accordingly
- Tax proceedings turn out to be easier
- Streamlines the accounting and bookkeeping records
- Carrying out an audit process will help you to identify the revenue sources
- Audit plays a significant role to grab a stronghold in understanding the financial stability and business expansion
- They will help you to understand the business valuation
By now, you have got a clear idea of how an audit expert can help your business to grow. By focusing on different aspects, customized solutions can be provided according to the needs of the company. JAXA Chartered Accountant, one of the top ten Abu Dhabi auditors is here to help you in simplifying your audit process. Our audit experts are keen on providing you with the best solutions and can guide you at every step. Moreover, they will also cater you to increase your business profits accordingly. If you hold any query or want to speak to our experts, do contact us today-we’d be glad to assist.