Approved auditors
DubaiMultiCommoditiesCentre(DMCC)
Since 20179 Since 2017
- On the zone's approved auditor list
- FTA approved tax agency
- Signed in time for renewal
Talk to a specialist
Tell us your licence expiry and we will tell you what the zone needs and by when.
- Reply in 24h
- FTA approved
- Direct to a specialist
Vigor is a registered auditor for Dubai Multi Commodities Centre (DMCC)
Licensed by DMCC Authority. Commodities trading, precious metals and diamonds, and one of the largest free zones in the UAE by company count.
Overview
Auditors registered in Dubai Multi Commodities Centre (DMCC)
The Dubai Multi Commodities Centre (DMCC), established in 2002, has become a premier global trading hub and one of the most sought-after free zones in the world. Located in a prestigious area, DMCC offers everything needed for a seamless business setup. With a vibrant business environment, world-class services, and innovative infrastructure, DMCC is an exceptional choice for establishing your business in Dubai.
While DMCC provides a flexible office structure and hassle-free business setup, it is mandatory for companies within this free zone to maintain their financial records with the help of approved auditors in Dubai Multi Commodities Centre. According to DMCC regulations, companies must ensure that their book of accounts is audited by registered auditors listed by the DMCC authority.
Vigor Accounting and Taxation is proud to be among the approved auditors for DMCC. We ensure that all financial audits are conducted following the best practices and in compliance with both local and international accounting standards, including IFRS. Our auditors in the Dubai Multi Commodities Centre are responsible for confirming that all financial statements are accurate, complete, and reflect the true financial status of your company.
Companies operating in the DMCC must adhere to strict regulations and provide auditors with accurate and transparent financial information. Concealing or omitting any details is not permitted under DMCC guidelines. The auditing process in DMCC involves several key steps:
5,000+
Audits completed
20
Zones approved in
9
years, since 2017
What the zone requires
Three rules that decide your renewal
Audited statements at renewal
Most free zone licences require audited financial statements before the authority will renew. The window and the format are set by the zone, so the date to work back from is your licence expiry.
Signed by an approved auditor
The zone will only accept a report from a firm on its own approved list. A report from a firm that is not listed is rejected at submission, whatever its quality.
Records kept for five years
Every UAE company must keep its accounting records for at least five years, which is separate from the audit itself and applies whether or not the licence requires one.
When to start
Count back from your licence expiry
The deadline is set by your renewal date, not by the calendar year, which is why two companies in the same zone can have completely different audit seasons.
90 days out
Engage the auditor
Scope and fixed fee agreed while there is still room to move.
60 days out
Records handed over
Books, statements and supporting documents. Backlog rebuilt first if there is any.
30 days out
Fieldwork and queries
Balances verified. Anything that does not reconcile is raised while it can still be corrected.
Renewal
Signed report submitted
Audited statements in the zone's format, in time for the licence.
Vigor’s working guidance for a straightforward set of accounts, counted back from your licence expiry. Dubai Multi Commodities Centre (DMCC) sets the submission deadline and the accepted format, so the date to plan from is your own renewal date rather than a fixed month in the year.
If it slips
- 01
The licence renewal stalls
The authority can hold the renewal until the audited statements are submitted. Everything below follows from that one thing.
- 02
Visas follow the licence
Residence visas and new hires are tied to a current licence, so a delay reaches the team before it reaches the accounts.
- 03
Banking gets harder
Relationship reviews and facility renewals ask for current audited statements. An expired licence turns a routine check into a problem.
- 04
The work does not get smaller
A late start compresses the same fieldwork into less time, and books that have drifted have to be rebuilt before any of it can begin.
How it runs
Four steps from engagement to a signed report
- 01
Engagement and scope
We confirm the zone, the licence type and the financial year, then issue a scope and a fixed fee in writing. Nothing starts before you have both.
- 02
Records and reconciliation
You send the books, bank statements and supporting documents. Where the books are behind, that backlog is quoted separately and rebuilt first.
- 03
Fieldwork and testing
Balances verified, controls tested, and anything that does not reconcile raised with you while there is still time to correct it rather than after signing.
- 04
Signed report for renewal
Audited financial statements in the format the zone accepts, signed by an auditor on its approved list, in time for the licence renewal window.
Engagement and scope
Talk to an approved auditor
Tell us your licence expiry in Dubai Multi Commodities Centre (DMCC) and we will tell you what is needed and by when.
Before we start
What we need from you
Tick what you already have. Most companies are further along than they think, and fieldwork can usually begin before the last of it arrives.
Tick what you already have
Most companies have more of this than they expect. Nothing here is sent anywhere.
Side by side
Free zone or mainland, on the points that differ
- Audited statementsGenerally required for licence renewal
- Who may signA firm on that zone's own approved auditor list
- Deadline set byThe zone, counted from your licence expiry
- Records retentionAt least five years
- Corporate tax0% on qualifying income if the qualifying free zone person test is met
- If the audit is lateRenewal can be withheld, which affects visas and banking
General rules, not advice on your own position. What applies to your company turns on the licence, the activity and the structure, which is what the first call establishes.
Government Agencies
We work closely with all Government Agencies
Company formation, licensing, visas, customs codes and tax registration all pass through these authorities. Start a company setup.
Answers
Questions about this zone
The six asked most often before an audit engagement starts.
01Is a DMCC company required to have its accounts audited?
Yes. DMCC free zone companies must submit audited financial statements as part of their annual licence renewal. The audit must be carried out by an auditor on the DMCC approved auditors list, prepared under IFRS and supported by proper accounting records. The exact requirement can vary slightly by entity type, so it is worth checking the current DMCC circular for your licence category.
02How much does a DMCC audit cost?
Audit fees depend on the size of the company, the number of transactions, the state of the underlying records and how many entities are involved. Audit work is quoted with a proposal once we understand the scope, rather than priced off a standard list.
03When does the audited financial statement need to be submitted to DMCC?
DMCC ties submission of audited financial statements to the licence renewal date, so the deadline runs from your company's own renewal month rather than a fixed calendar date. Leaving the audit until close to renewal is common but risky, since gathering and reconciling records can take longer than expected.
04What happens if I renew my DMCC licence without submitting audited accounts?
DMCC can withhold or delay licence renewal where audited financial statements are not submitted, which in turn affects visa processing, bank dealings and the company's ability to trade legally. The precise consequence depends on the notice DMCC issues to the company, so any correspondence should be acted on promptly.
05Can any auditor sign off a DMCC company's accounts?
No. DMCC requires the audit to be performed by a firm on its own approved auditors list, not just any UAE registered auditor. Vigor Accounting and Taxation LLC is on the DMCC approved auditors list and carries out these audits directly for free zone clients.
06What records and documents does the auditor need from a DMCC company?
Auditors typically need bank statements, sales and purchase invoices, payroll records, fixed asset registers, prior year financial statements and any lease or loan agreements, going back over the financial year under review. UAE law requires accounting records to be kept for at least five years, so these should already be on file rather than reconstructed at audit time.
Not here? Ask Vigor, and a specialist picks it up from there.
