Approved Auditors in Hamriyah Free Zone
Is Audit Mandatory for Companies registered in HFZA (Hamriyah Free Zone)?
Yes, Audit from a HFZA approved Auditor is mandatory for all the companies registered in Hamriyah Free Zone. As per the regulations of HFZA all companies must submit its balance sheet (financial report) by the end of every financial year, audited by an approved auditor in HFZA. A copy of the annual audited accounts of each company should be delivered to the FZE Department within three months of the end of the financial year of the Free Zone Establishment or such longer period as the Authority may determine. Bader Saleh Auditing is one of the top listed and approved Auditor in HFZA (Hamriyah Free Zone).
Rules and Regulations associated with External Audit of companies in HFZA
Each Free Zone Establishment shall be required to appoint auditors from among those approved by the HFZ Authority to make a report to the Shareholder of the Free Zone Establishment on all annual accounts of the Free Zone Establishment and state whether, in the auditor’s opinion, such annual accounts have been properly prepared in accordance with these Implementing Rules and Regulations and whether a true and fair view is given:
What is the period to submit Audit Report for companies registered in HFZA?
According the regulation a company is required to submit a copy of its annual accounts along with the Audit Report issued by the approved auditors in HFZA to the Free Zone Department within three months of the end of its fiscal year.
A copy of the annual accounts of each Free Zone Establishment shall be delivered to the FZE Unit within 3 months of the end of the financial year of the Free Zone Establishment, or such longer period as the HFZ Authority may determine.
What if You Do Not Audit Your Books of Accounts for your company registered in HFZA?
If a company in HFZA fails to submit the audited financial statements within the time frame to the Authority, it will be liable to pay penalty for non-compliance of the HFZA Regulations. The principal hazards that companies bear for failing to submit audited financial reports is the non-renewal of their trade license in HFZA. Companies can however request to the Free Zone Authority for an extension of the deadline for the submission of the audit reports from the approved auditors in HFZA.
What role does Bader Saleh Auditing play in Audit Services in Hamriyah Free Zone?
Bader Saleh Auditing of Accounts is the listed auditor in Hamriyah Free Zone, HFZA. Being approved auditors in HFZA, we assure the quality of professional service and conduct the audit in accordance with the requirement of International Standards on Auditing (ISA).
Why choose Bader Saleh Auditing of Accounts?
We have a team of qualified professionals, such as Chartered Accountants (CA), Chartered Certified Accountants (ACCA), Certified Public Accountants (CPA) etc. with vast experience in the region of leading the Audit with professional skills and knowledge.
Our Auditors conduct the audit procedure in the clients’ premises with the aim of guiding and helping the accountants to design and prepare the financial statements in accordance with the International Financial Reporting Standards (IFRS) without affecting the independence of Audit.
We issue a management letter as well for the management to take corrective measures if potential internal control weaknesses are noticed by us, being a responsible HFZA Approved Auditor.
We are also listed with all major banks and free zones in the UAE.
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