Importance of Audit in Jebel Ali Free Zone
12

Jul 2019

One of the promising business destinations in the United Arab Emirates turns out to be Jebel Ali Free Zone, that is located in one of the competitive locations. Business owners select this region as it gives a broader platform to global connectivity. Upon carrying out the business operations after establishment, it becomes essential at one point that the business activities need to be scrutinized to avoid any confusion or illegal activity. To take robust action, business owners in Jebel Ali Prefer to opt for Audit services with the help of professional experts. If you have started your business in Jebel Ali Free Zone or is planning to set up one, then don’t neglect the Audit Services. This guide will take you through Jebel Ali Free Zone and help you to understand why Audit Service is a must. Keep Reading!

A Gist on Jebel Ali Free Zone

Located on the Western End of Dubai,  towards Abu Dhabi is  the Jebel Ali Free Zone holds a title of flagship free zone. Designed accordingly to suit the best needs of manufacturers and trading companies, the zone attracts millions of business investors who are planning to set up an industry in the area. Regardless of any industry that gets established, the Government of the UAE expects every registered business entity to go under an Audit process to get a clear picture regarding the business activities carried out. To get accurate results, it is prescribed to get the audit process done through professional experts. Moving on to the next step, let’s have a look at the different business industries that gets established in the Free Zone.

Highlight on Business Industries in Jebel Ali Free Zone

Established in 1985, the Jebel Ali Free Zone turns out to be home to more than 6400 companies also including the Fortune 500 companies. Tagged as one of the fastest growing free zones, JAFZA has been a continuous contributor to the GDP of the UAE. The region holds a mix of different business industries like oil, beverage, tech, steel fabricators, gas cylinders etc. which makes it as one of the favourable business sites in the UAE region. All these businesses carry-out their work process in a unique style. However, method that turns out to be a mandate is Audit. Let’s understand it.

Audit Process in Jebel Ali

As mentioned above, JAFZA is an amalgamation of different business industries. The Audit process gets carried out in a different style to each of the industries.

The term ‘Audit’ refers to scrutiny or examination of a business organization. Dealing with several stakeholders, and the presence of a large number of employees in an organization might involve a lot of internal politics as well as illegal activities. If such actions are not examined for a long-run, it might end up generating losses for the business entity. When it comes to audit, there are different types of audit services that a professional audit expert can provide you.

Advantages of Availing Audit Services

By implementing the audit services, 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
  • 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

In short, it can be stated that the audit process helps a business to understand the internal as well external proceedings. Activities taking place in the organization can be tracked accordingly and necessary steps can be taken further. Furthermore, data accuracy plays an important role, and it turns out to be the utmost importance when it comes to planning. To carry out the process in a practical way, it is suggested to take the advice of subject-matter experts. JAXA Chartered Accountants is here to help you in this regard. Holding a high-industry experience, our business experts provide tailored solutions according to your business needs, which makes us one of the best audit consultants in Dubai. To have a word with our experts, do contact us-we’d be glad to assist.