Audit in DMCC/JLT
Audit in DMCC/JLT registered companies is made compulsory. DMCC /JLT is one of the fastest growing free zone among the UAE free zones having more than 6000 registered companies. Since the free zone situated in the heart of the city the number of investors interested are more especially European clients. Since the annual audit is compulsory for the trade license renewal of companies the Audit firms in Dubai can exploit those opportunities.
Penalties for Non compliance of Audit for companies in Dubai Free zone like DMCC/ JLT
Recently the free zone Authority issued a fine policy for all the clients who have not submitted the audited financials on time. Audit in DMCC/ JLT is compulsory for all registered companies in the free zone. As per DMCC guide lines all its registered members need to submit audited financials for each year within three month from the date of financial year ended. Those clients failed to submit audited financials on time are being penalized for a minimum of Aed 5000 for each financial year. DMCC has already implemented and started to issue fines for the clients who have not submitted audited financials. If any registered member in DMCC has not prepared and submitted the financials to free zone authority then you will be experiencing financial penalties and service termination also.
How DMCC /JLT increase job opportunities in Dubai
DMCC /JLT is one of the fastest growing free zone among the Dubai free zones. As of December 2012 the number of registered clients in DMCC is more than 7000. By the mid 2013 it will be reaching around 10,000 clients in the free zone. Since DMCC is a free zone the number of foreign investors is attracted more especially European clients. When more foreign entrepreneurs are setting up business in DMCC/ JLT the number of job opportunities also will increase.
Audit in DMCC/ JLT is made compulsory for the registered companies. The free zone authority is imposing fines and other legal actions to those clients who failed to submit the audited financials in time. Emirates Chartered Accountants Group Dubai is an authorized auditor in DMCC/ JLT. If you need assistance for preparing the audited financials you can always contact us at firstname.lastname@example.org. You may also visit us at www.emiratesca.com