INTRODUCTION :

Ras Al Khaimah Economic Zone (RAKEZ) is a powerhouse business and industrial hub that offers customizable solutions to free zone and non-free zone businesses. Various multinational companies in over 50 sectors boosts the economy of United Arab Emirates. Major companies such as Coca Cola, Ashok Leyland, HRC, Almarai, Dabur, UNIKAI etc to name a few are situated in RAKEZ.

 

RAS AL KHAIMAH ECONOMIC ZONE BENEFITS :

  • Provides Customized Solutions
  • Free Zone and Non-free Zone Business
  • Quick Delivery of Services
  • Diversified Sectors, Industries and Activities
  • Professional Team to Guide Clients
  • Marketing Development Opportunities
  • Top-notch Communications Infrastructure
  • Labour and Staff Accomodation
  • State of the Art Warehouse

 

MANDATORY AUDIT FOR RAKEZ:

Auditing is mandatory for companies situated in RAKEZ from the year 2020 onwards. The companies need to submit their audited financial statements for the financial year 2019 and for subsequent years within 6 months from the end of the company’s financial year. Only RAKEZ approved auditors can audit the companies situated in RAKEZ.

 

Failure to submit the audited financial statements would result in a fine of AED 2,500 and may even lead to suspension of services.

 

AUDITOR’S REPORTING REQUIREMENTS

  • The auditor will examine and report on the accounts prepared in accordance with local and international regulations.
  • The auditor’s report must state whether the company’s accounts comply with the International Financial Reporting Standards (IFRS).
  • The auditor’s report must provide details on whether the accounts present a true and fair view of the company’s affairs at the end of the financial year and accounts are free from material misstatements.
  • The auditor needs to state in his report whether the company is undertaking only activities permitted under its trade license. The authorities rely on the auditor’s report before renewing the trade license.
  • The auditor must ensure that the accounts of the company are in agreement with the accounting records and returns. 
  • The auditor has to ensure that the companies are not indulging in money laundering and financing of terrorism.

 

 

 

RAS AL KHAIMAH ECONOMIC ZONE APPROVED AUDITORS :

 We at ‘’Hallmark International’’ are Ras Al Khaimah Economic Zone approved auditors providing the finest auditing services to ensure compliance of the companies laws & regulations in the U.A.E.  We also provide Accounting & Bookkeeping, Business Incorporation and ERP & Accounting Software Services. We are also DMCC, JAFZA, DIC, DWC, DAFZA and Dubai Media City approved auditors.

We ensure prompt delivery of reports contributing to a smooth and quality experience. We assure confidentiality of documents and financial information of our clients with qualified management which will make ‘’Hallmark International’’ your go- to auditors’ time and again!

 

 

Contact us for best services below :

T: +97142599055

M: +971557636758

E: info@hallmarkauditors.com

W: https://www. hallmarkauditors .com/