Approved Auditors in DMCC

The DMCC (Dubai Multi Commodities Centre) Free Zone was established in 2002 as part of Dubai's efforts to improve trade flows. It is widely regarded as one of the best free zones in the world and a popular global trade destination. As a prestigious location, DMCC offers everything required for a successful business setup. The energetic team, world-class administration, and innovative framework set by the DMCC Authority make it a great choice for establishing your business. Each DMCC Free Zone company must ensure that its company audits are performed on time by a DMCC-approved auditor.
 

DMCC Approved Auditors

The Free Zone Authority has published a list of DMCC-approved auditors to perform auditing and related services as part of its free zone initiative. You can find the companies that are listed under the DMCC-approved list of auditors below. 

Click here to view the latest DMCC Approved Auditors list 2025. Reyson Badger has been registered with an account number of 409441, with an order number SR.Number of 156.

According to the DMCC, the DMCC-approved auditor list provides companies operating in the DMCC with the highest quality audit services. Registered Auditors in DMCC will have qualified chartered accountants, follow IFRS (International Financial Reporting Standards), and be affiliated with international organisations.

According to the DMCC website, all DMCC members are also required to submit their audited financial statements to a DMCC-approved auditor, a process that will require some time to implement. A financial statement must be audited and submitted within 90 days after the end of a fiscal year, according to DMCC regulations. As part of the auditing process in DMCC, there are also several requirements to be met.

Role of DMCC Approved Auditors 

The role of a DMCC (Dubai Multi Commodities Centre) Approved Auditor is to ensure that member companies in the DMCC Free Zone adhere to high standards of financial reporting and compliance. Key responsibilities include:

• Audit and Verification: DMCC Approved Auditors are responsible for auditing the annual financial statements (AFS) of DMCC-registered companies, ensuring they are free from material misstatements and comply with International Financial Reporting Standards (IFRS)​
• Reporting Standards: T he auditors must confirm that the financial statements provide a fair and true view of the company’s financial position. This includes verifying bank balances, confirming authorised company activities, and disclosing revenue from activities outside licensed operations​
• Compliance and Integrity: They are required to act with integrity, objectivity, and confidentiality. Auditors must avoid conflicts of interest and comply with legal requirements for disclosing information if necessary for investigations
• DMCC Cooperation: Approved auditors must cooperate with DMCC, providing necessary information and attending meetings upon request. DMCC also monitors auditors to ensure compliance, which can affect renewal or continuation as an approved auditor​
   

Benefits of Choosing DMCC-Approved Auditors

DMCC Free Zone auditors provide specialised auditing and advisory services to companies operating within the DMCC Free Zone. These services are crucial for maintaining compliance with DMCC regulations and ensuring financial transparency. Key services offered by DMCC-approved auditors include:

• Financial Statement Audits: DMCC-approved auditors conduct comprehensive audits of companies' financial statements, ensuring they are prepared in accordance with International Financial Reporting Standards (IFRS) and accurately reflect the company's financial status
• Compliance Assurance: Auditors help companies adhere to DMCC Free Zone regulations by verifying compliance in areas such as revenue reporting, expense classification, and adherence to the scope of licensed activities.
• Risk Assessment and Advisory: DMCC Free Zone auditors offer risk management and advisory services, helping companies identify financial and operational risks associated with their business activities and providing strategies for mitigation.
• Tax Filing and VAT Advisory: Many auditors also assist with tax and VAT compliance, offering guidance on VAT filings and advice on optimal tax strategies to ensure compliance while optimising tax liabilities.
• Company Formation and Financial Consultancy: DMCC Free Zone auditors provide business setup and consultancy services, advising companies on financial structuring, regulatory requirements, and efficient practices for sustained growth.
   

These services contribute to maintaining a transparent, compliant, and financially sound environment in the DMCC Free Zone.

Step-by-Step DMCC Audit Process

Companies and their officials are required to cooperate with Auditors in the DMCC Free Zone. In accordance with these rules, companies are not allowed to provide auditors with incorrect information, confusing information, or dishonest information. Moreover, it is a violation of the law for companies to keep important information secret or destroy or hide documents from auditors.

Accounts preparation

Each year, directors of companies operating in the DMCC Free Zone are required to prepare financial statements. The accounts must adhere to International Financial Reporting Standards (IFRS) and accurately reflect the profits and losses of the company during that period.

A copy of the audited financial statements and the auditor's report must be uploaded to the DMCC Member Portal via a designated online service request. Submission must be done within 90 days of the end of the fiscal year, and the company must also comply with the requirement to hold an Annual General Meeting (AGM). Additionally, the Registrar may request additional information, including a summary report from DMCC. Companies are required to comply with these obligations and to provide the necessary documents to the Registrar promptly and in accordance with DMCC guidelines.

Accounts maintenance

Every company is required to maintain proper accounting records, which include supporting documents that provide enough information to clearly understand and explain the company's transactions. An accurate representation of the financial position of the company should be maintained in these records at all times. Maintaining these records in a timely and organised manner is vital to maintaining a reliable and accurate perspective on a company's financial situation whenever necessary.

Account copies

All shareholders of a company within the DMCC Free Zone are entitled to receive a copy of its audited financial statements as well as the auditor's report. If shareholders wish to obtain these documents, they may submit a written request to the company. Such requests must be fulfilled by the company within five business days. By doing so, shareholders can obtain important financial information about the company's performance, which allows them to make informed decisions and understand the organisation's financial health.

Appointing auditors

An organisation may hire a firm of auditors to thoroughly examine and provide a report on the accounts prepared in accordance with the specified regulations set by DMCC. Auditors can also be appointed solely to report on a company's accounts, and not continuously.

DMCC regulations require that companies appoint their auditors during their annual general meetings. The auditor must be registered with the DMCC as an approved auditor, following the rules and guidelines established by the DMCCA that may be updated from time to time. DMCC-approved auditors guarantee that the company's accounts are examined by a qualified professional who complies with DMCC requirements.

DMCC Approved Auditors' Audit Report

A company's financial accounts are assessed based on the auditor's report. The report must clearly state whether the financial statements have been prepared according to International Financial Reporting Standards (IFRS). Additionally, the report should confirm that the accounts provide an accurate and unbiased picture of the company's profit or loss for that particular period.

The auditor's report should also include information regarding the activities that the company is permitted to conduct under its license. Other relevant matters or opinions may also be included, as required by the DMCC authority.

DMCC Approved Auditors’ Duties and Responsibilities

DMCC's auditor is responsible for conducting thorough investigations in order to determine whether the company has maintained accurate and appropriate accounting records.

The auditors are responsible for ensuring that the company adheres to the guidelines regarding Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) during its business operations. A registered DMCC auditor should report any suspicious activities related to money laundering if they are discovered during the audit process.

Documents Required for a DMCC Audit

In order to operate in the free zone, all companies must comply with certain regulations established by the DMCC. To obtain a fair picture of the financial position of companies in the Dubai Multi Commodities Centre, the companies must provide DMCC auditors with true and fair documents. There is no provision for them to omit or conceal any documentation from DMCC-listed auditors. The following are the major documents required for a DMCC audit. 

• Bank statements and confirmation slips of credit or debit transactions
• Deposit statements from the DMCC portal
• Invoices and bill copies
• Memorandum of Association (MoA)
• Articles of Association (AOA)
• Excise Tax and VAT Registration Details
• An up-to-date trade license

Benefits of Appointing a DMCC-Approved Auditor

DMCC-approved auditors ensure accurate financial statements and compliance with Freezone regulations and rules by conducting audits. It is the mission of DMCC Auditors to help businesses manage risks, strengthen internal controls, and improve financial reporting through a wide range of services. As part of this process, business processes are assessed, risks are identified, and an audit strategy is developed. The DMCC Approved Auditors are also responsible for conducting a risk assessment, which identifies the likelihood and impact of risks, as well as the effectiveness of internal controls in mitigating them.

Following the completion of the risk assessment process, DMCC Auditors test the controls and details of the financial transactions in order to ensure that the financial statements are accurate and reliable. In the final audit report and financial statements, any issues or discrepancies discovered during the audit are highlighted. As well as identifying areas of weakness, they suggest ways to address these concerns. In this way, businesses can identify areas of weakness and strengthen their internal controls, thus reducing the risk of financial misstatement.

How to Select a DMCC-Approved Auditor?

When selecting an auditor from the DMCC-approved list, companies should consider the following factors:

• Specialisation: Different auditors may specialise in particular industries or company sizes. Choose an auditor with experience relevant to your business activities, such as financial services, commodities, or real estate.
• Audit Services: DMCC-approved auditors provide a range of services. Verify that the services you need (internal audit, financial audit, tax audit, etc.) are offered by the auditor.
• Audit Fees: While costs may vary based on the complexity of the business, it’s important to have a clear understanding of the fee structure before engaging with an auditor.
• Reputation and References: Look for auditors with a solid reputation within the DMCC community and check their references to ensure they meet expectations for thoroughness and professionalism.
• Technological Capabilities: Modern audits often involve the use of specific software and tools. Understanding the auditor's technological capabilities can be important for efficiency and data analysis.

What Are the Costs of DMCC Audits?

The cost of hiring a DMCC-approved auditor can vary based on several key factors:

• Company Size: Larger organisations with more complex financial structures typically face higher audit fees due to the increased time and effort required.
• Audit Scope: The nature of the audit, whether it's a statutory financial audit, tax audit, or a special purpose audit, directly impacts the cost. Broader scopes generally demand more resources and expertise.
• Transaction Volume: Companies with a high volume of financial transactions, cross-border dealings, or multiple revenue streams may require in-depth analysis, leading to higher costs.

Since audit fees depend on these variables, it’s advisable for businesses to request customised quotes from DMCC-approved audit firms. This ensures transparency and allows companies to budget accurately based on their specific requirements.

What is the DMCC Audit Deadline in 2025?

The DMCC audit deadline in 2025 is 90 days from the end of a company’s financial year. All businesses registered under the Dubai Multi Commodities Centre (DMCC) are required to submit their audited financial statements and a Summary Sheet through the DMCC portal within this period.

For instance, if a company’s financial year ends on 31st December 2024, the deadline to submit audited reports would be 31st March 2025. Similarly, for companies with a financial year ending on 30th June 2025, the deadline for submissions is September 28, 2025.

Late submission incurs substantial fines. Penalties typically start at AED 5,000 to AED 10,000 for the first month and can increase, leading to the suspension of the trade license and delays in visa processing.

To learn more about the audit process and the deadline for financial statements in DMCC Free Zones, check out here.

Why Should You Choose Reyson Badger?

Business audits are strictly regulated by the DMCC. A list of registered auditors is compiled by DMCC regularly, who strictly adhere to the rules and regulations of the free zone. It is Reyson Badger's commitment to comply with international financial reporting standards as an approved auditor for the DMCC.

Besides reviewing your company's financial statements and accounting records, the audit team also examines all supporting documents. By utilising our auditing services, you will be able to identify the risks associated with your business operations. Due to the fact we are DMCC Registered Auditors, we can help your company improve its corporate governance practices.

Here are the Audit Services that Reyson Badger offers in the DMCC Free Zone.