Jebel Ali Free Zone (JAFZA)
Jebel Ali Free Zone (JAFZA) is a prominent free economic zone situated at the western extremity of Dubai, United Arab Emirates, near Abu Dhabi. It stands as the flagship free zone under DP World and forms an essential component of DP World UAE’s comprehensive business hub. As of 2023, Jafza is home to a thriving community of over 9,500 companies.
Diverse industries, including logistics, electronics & electrical, automotive, food and agriculture, e-commerce, petrochemicals, and more, have established their presence in Jafza, contributing to its status as a dynamic business hub.
Our Audit Approach
Requirement Assessment
We’ll determine the most suitable audit service for you based on your industry, selecting the
necessary audit cycles to prepare an accurate quotation.
Data Collection
Once services and quotations are approved, we’ll need specific data from the company for the
audit.
Developing and organizing the audit procedure
We create a personalized plan tailored to the client’s specific requirements, employing distinct methodologies for various audit types such as balance sheet audit, cash flow statement audit, fraud audit, inventory audit, cash audit, stock audit, and others.
Preparation of Audit Report
Audits are conducted across different sections, producing various reports. We scrutinize these documents to ensure alignment with the federal laws of the UAE. Following this, the reports are consolidated before being presented to the board of directors and shareholders.
Post Audit Assistance
The audit report provides comprehensive information for a thorough understanding of your company. Should you require additional support in implementing any changes based on the findings, we are at your disposal.
FAQ
1. What is the process for submitting audited financial statements to JAFZA?
- The audited financial statements need to be compiled in a summarized format, aligning with the prescribed structure. This summary sheet, signed and stamped by approved auditors, along with the complete audited financial statement, must be uploaded to the JAFZA portal for submission.
2. What are the consequences of Failing to Comply with Auditing Requirements in JAFZA?
- Failure by any entity to conduct or submit audit reports may lead to the imposition of fines or penalties by the authority, and there is also the possibility of the trade license being denied renewal.
3. What is the auditing timeframe for companies registered in JAFZA?
- Following JAFZA regulations, each company is required to have its financial books audited by approved JAFZA auditors within three months from the conclusion of the financial year, or within any extended period, if applicable.
