DIC Approved Auditor | Dubai Internet City Audit Services
Get professional DIC audit services for your Dubai Internet City company. We provide statutory audits, audited financial statements, and AXS portal filing support.
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DIC Companies Need a DDA Approved Auditor
Every company in Dubai Internet City needs a DDA approved auditor on the DDA approved auditors list. The Dubai Development Authority enforces this statutory audit requirement under Private Companies Regulations 2016. FZ LLCs and branch offices must complete auditor appointments at AGM each year. Missing this step blocks annual return filing with the Registrar of Companies.
Circular 421 sets this mandatory audit obligation under Regulations 63-68. DDA Circular 311 and Decision No (2) of 2017 back the same rule. Your auditor also needs Ministry of Economy auditor registration to sign valid reports. Call DDA Customer Care to confirm any auditor’s status first.
How to Verify a DIC Approved Auditor
Check any firm against the DDA approved auditors list before signing an engagement letter. A valid auditor holds a Ministry of Economy auditor registration certificate and an active audit licence number. This dual registration requirement confirms the firm can legally sign DIC audit reports. A DMCC Approved Auditor with the required credentials can also help ensure compliance with applicable audit requirements.
Run an auditor registration check through DDA Registrar of Companies records or AXS portal account verification. The signing partner credential should show CA ICAI qualification, ACCA qualification, or CPA qualification. This licensed auditor verification step protects your company before filing and helps verify whether the firm operates as a DMCC Approved Auditor where applicable.
Who Must Submit Audited Financial Statements
Every FZ LLC in Dubai Internet City must submit audited statements each year. This applies under Regulations 63-68 of Private Companies Regulations 2016. A newly registered company must still file after its first financial year ends. Filing goes to the DDA Registrar of Companies along with the annual return.
A branch office faces the same rule, whether it’s a foreign company branch or a UAE company branch. It can submit parent company consolidated financial statements instead of its own. Some branches choose a stand alone branch extract covering only local operations.
DIC Audit Filing Deadline and Process
File your audited statements within six months from financial year end under Circular 421. Submit through the AXS portal, DDA’s smart service platform covering 200 government and corporate solutions. Attach the Financial Statements Report Summary Sheet in DDA prescribed format before the final filing period closes.
Present both at your annual general meeting for AGM presentation. Your auditor’s report must confirm a true and fair view under IFRS. The Registrar of Companies tracks each submission for compliance. Missing this deadline triggers a penalty for late submission under Decision No (2) of 2017.
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Experience in UAE
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Clients Served
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Tax Agency
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Free Zone Audit Specialists
Our DIC Audit Process
Engagement and Scope Confirmation
Every audit starts with an engagement letter defining the audit scope. Your financial year end date sets the timeline. The auditor signs an independence declaration under IESBA Code of Ethics. Next comes entity structure confirmation and a review of prior year financial statements.
Fieldwork and Financial Review
Fieldwork begins with general ledger review, trial balance checks, and bank statement reconciliation. For tech firms, this covers subscription revenue recognition, deferred revenue, and multi year licensing arrangement terms. Project based clients need milestone invoicing and project based billing review, plus subcontractor cost tracking. E-commerce firms get multi currency transaction and payment gateway reconciliation checks. Regional entities need transfer pricing documentation, related party transaction disclosure, and intercompany arrangement review.
IFRS Statement Preparation
Your auditor prepares statements under IFRS, the International Financial Reporting Standards. This covers the balance sheet, profit and loss account, and statement of financial position. Every figure follows the accounting standard approved by the Registrar. Full financial statement disclosure notes accompany each report.
Sign Off and AXS Submission
A signing partner reviews and finalizes the auditor’s report. It confirms your statements meet DIC standards. Next, submit through the AXS portal with your Financial Statements Report Summary Sheet. File before the final filing period ends and present at AGM presentation.
Assurance Corps' Credentials as a DIC Approved Auditor
FTA Tax Agency Registration
DIC companies need an auditor with verified tax agency compliance, not just accounting experience. Assurance Corps holds FTA Tax Agency registration under Tax Agency Number TAN 30019921 with the Federal Tax Authority. Muhammad Owais Abdul Razzaq serves as registered Tax Agent under Tax Agent License TAAN 20065132.
EAAA Membership Under Ministerial Resolution No. 227
Unaccredited auditors put your DIC audit submission at risk of rejection. Assurance Corps carries full EAAA membership under Ministerial Resolution No. 227 issued by the Ministry of Economy. This professional membership registration with the Emirates Association of Accountants and Auditors confirms our auditor.
Affiliations
Documents Required for Your DIC Audit
Start with your trade licence and Memorandum and Articles of Association. Your auditor needs the general ledger, trial balance, bank statements, and bank reconciliations. Add sales invoices, customer contracts, and both the accounts receivable aging report and accounts payable aging report.Include payroll records and WPS records for staff verification. Bring your fixed asset register, VAT returns, and corporate tax registration details. Previous audited financial statements speed up the review process.
DIC Audit and UAE Corporate Tax
Your DIC audit connects directly to UAE Corporate Tax compliance. Companies claiming Qualifying Free Zone Person status need clean transfer pricing documentation for every related party transaction. This matters most for intercompany service arrangement deals and software licensing income from cross border billing.The Federal Tax Authority checks this against your corporate tax registration on file. Firms with regional headquarters status or R&D centre status face extra scrutiny. Your audit confirms you meet the de minimis requirement for qualifying income.
LOCATION WE SERVE
Areas We Serve in all over UAE
Dubai
Abu Dhabi
Sharjah
Ajman
Umm Al Quwain
Ras Al Khaimah
Fujairah
UAE AUDIT & TAX AGENCY FAQS
Frequently Asked Questions
Is an audit mandatory for all DIC companies?
Yes. The mandatory audit requirement applies to every FZ-LLC and branch office in Dubai Internet City, regardless of size or regardless of activity.
What is the AXS portal?
The AXS portal is DDA’s smart service platform offering government and corporate solutions. DDA regulated companies use this online submission system to file audit reports.
Do branch offices need audited financial statements?
Yes. Every branch office must submit audited statements. It can file parent company consolidated financial statements or choose a stand alone branch extract instead.
Does a SaaS company need a special audit review?
Yes. A SaaS company needs review for subscription revenue recognition, deferred revenue, and any multi year licensing arrangement tied to its recurring billing structure.
How long should DIC companies retain financial records?
DDA regulated companies must keep books of accounts and supporting records for eight year record retention after each financial year ends.
Book Your DIC Audit With Assurance Corps
Assurance Corps gives every DIC company a free consultation with a chartered accountant. As a DDA approved auditor, Ministry of Economy registered and an FTA Tax Agency, we send a written scope summary within 24 hours. Book your engagement letter now or start a WhatsApp consultation.