Welcome to your corporate partners & associates in Dubai
- Call us: +971 55 441 1036
- Mail US : info@dawnconsultancy.com
- ADD US : dawn.consultancy
- Call us: +971 55 441 1036
- Mail US : info@dawnconsultancy.com
- ADD US : dawn.consultancy
Free Zone Auditors in the UAE
Almost every UAE free zone requires companies to submit audited financial statements, usually as a condition of licence renewal, and many will only accept reports from auditors on their approved list. Dawn Consultancy audits free zone companies across Dubai, Sharjah, Ras Al Khaimah and Abu Dhabi, and delivers reports in the format each authority expects.
An audit now does more than satisfy the free zone. The same audited financial statements support your Corporate Tax return and, for companies claiming the 0% rate, are a legal condition of Qualifying Free Zone Person status. We plan every free zone audit with both uses in mind.
Free zones we audit
We act for companies in the major free zones, including:
- DMCC, including companies in Jumeirah Lakes Towers
- JAFZA (Jebel Ali Free Zone)
- DAFZA (Dubai Airport Free Zone)
- Dubai Silicon Oasis
- DIFC
- IFZA, Meydan Free Zone and Dubai Development Authority zones
- RAKEZ and RAK ICC in Ras Al Khaimah
- SAIF Zone in Sharjah, and ADGM in Abu Dhabi
Requirements differ between zones: the submission deadline, whether the auditor must be pre-approved, the format of the report and the supporting documents requested. We confirm the rules for your zone at the start of every engagement.
Why free zone companies need an audit
- Licence renewal. Most free zones require audited financial statements before renewing a trade licence.
- Qualifying Free Zone Person status. Audited financial statements are a mandatory condition for the 0% Corporate Tax rate on qualifying income.
- Corporate Tax. Audit is also required where revenue exceeds AED 50 million, and audited figures are the strongest support for any return.
- Banks and investors. Facility renewals, account reviews and investor reporting typically require audited accounts.
- Liquidation. Closing a free zone company normally requires audited accounts up to the date of liquidation.
What you receive
- An audit report issued under International Standards on Auditing
- Audited financial statements prepared under IFRS or IFRS for SMEs
- A management letter setting out control weaknesses and practical recommendations
- Reports formatted and signed for submission to your free zone authority
- A Corporate Tax review of the audited figures, including QFZP qualifying and non-qualifying income where relevant
Our audit methodology
- Planning. We understand your business, confirm your free zone’s requirements and agree a timetable that meets your renewal date.
- Risk assessment. We identify the areas most likely to contain material misstatement, such as revenue recognition, related-party balances and inventory, and focus our testing there.
- Fieldwork. We test transactions and balances, obtain bank and third-party confirmations, and review supporting documents.
- Tax and QFZP review. For free zone companies, we test the split between qualifying and non-qualifying income and the de minimis threshold.
- Reporting. We discuss findings with management before issuing the report, so there are no surprises.
- Submission support. We help you submit the report to the free zone authority and respond to any queries.
If your accounts are not ready
Many companies approach us with incomplete records shortly before a renewal deadline. Our accounting and bookkeeping team can bring the books up to date so the audit can proceed. To preserve independence, preparation and audit are handled by separate teams with separate reviewers.
Why choose Dawn Consultancy
- Multi-zone experience. One firm for companies spread across several free zones, with consistent reporting.
- Tax-aware audits. Corporate Tax and QFZP specialists work alongside the audit team.
- Deadline-driven. Timetables are set around your licence renewal, not ours.
- Beyond the audit. We also handle liquidation, internal audit and Corporate Tax when your needs change.
Frequently asked questions
Do all free zone companies need an audit?
Most free zones require audited financial statements for licence renewal, although the exact rule depends on the zone and the type of licence. Separately, any company claiming Qualifying Free Zone Person status for Corporate Tax must have audited financial statements.
What is an approved auditor?
Several free zones maintain a list of audit firms whose reports they accept. If your auditor is not on the list, the authority may reject the report. We confirm your zone’s requirement before we start.
How long does a free zone audit take?
For a company with organised records, fieldwork typically takes one to three weeks, depending on size and complexity. Where records need to be completed first, we agree a realistic timetable up front.
Can one firm audit companies in different free zones?
Yes. We regularly audit groups with entities in several free zones and on the mainland, which gives you consistent reporting and a single point of contact.
Does the audit help with Corporate Tax?
Yes. Audited financial statements are the starting point for the Corporate Tax return, and for free zone companies they are a condition of the 0% rate. We review the audited figures for tax purposes as part of the engagement.
Speak to our team
Send us your trade licence, your free zone, your financial year-end and approximate annual revenue. We will confirm your zone’s requirements and provide a fixed-fee proposal.
Call +971 55 441 1036, email info@dawnconsultancy.com or visit us at Office 1509, Citadel Tower, Business Bay. Contact us to arrange a consultation.