There are number of auditors in UAE who concentrates in Jebel Ali Free Zone to serve the clients by providing quality financial services in the Free Zone. JAFZA is the world’s largest man made harbor and the biggest port in the Middle East. It is one of the major business hubs in the Middle East where the investors from different nations operate their businesses. As per the recent survey, there are more than ten thousand companies working in the Free Zone which shows the potentiality of the free zone. Now the Al Maktoum International Airport also started its operation, which means businesses in JAFZA will get more support.
What are the opportunities for Audit firms in JAFZA?
The auditors in Dubai have a huge opportunity to serve the clients in the Jebel Ali free zone. The registered firms in the free zone are compulsory to furnish the audited financials at the time of trade license renewal. The auditors in UAE
can play their role by supporting the clients for preparing the audit report. Many of the firms in JAFZA are from SME sector which may not be having a regular accountant to look after their daily financial activities. In such situations also auditors can assist the clients by providing the regular accounting services for them. Apart from annual auditing and accounting services many companies are looking for better financial consultancy services which will help the companies to point out their weaker areas.
Challenges for Auditors in JAFZA
The Jebel Ali Free zone is not in close proximity to Dubai downtown, so reaching the free zone and finding the clients will be a real challenge to the audit firms in Dubai
. Either they need to set up a separate division of the audit firm for the JAFZA operation only or they need to visit the free zone on a regular basis.
The Auditors firms in JAFZA, UAE
have huge potential because of the wide variety of services needed by the companies in the free zone. The different type of auditing services like statutory audit, internal audit, due diligence audit, management audit etc which are gaining prominence because of huge potentiality. Emirates Chartered Accountants Group
is offering various financial services to their clients as per their requirements and our Audit division United Auditing
is a listed audit firm in JAFZA.