At the time of renewal of their free zone trade licences, companies registered in the free zones and holding a free zone trade licence must submit an audited yearly financial statement.
Companies in the free zone can select their own fiscal year based on their needs. However, the chosen financial year must begin on the date of formation and last for at least 6 months and at most 18 months.
All enterprises operating in free zones are required to undertake an annual audit and submit it to their relevant authorities. Failure to file an audit report may result in a substantial fine being imposed on a registered business.
The audit in the free zone must be completed to prevent fines and penalties. Accroun is a renowned auditing firm in the United Arab Emirates. We are registered and certified with all of the UAE’s major free zones, and we deliver the annual report in the same format that the free zone requires.
We will assign a dedicated and qualified team to your entity, who will assist you in ensuring statutory compliance and providing necessary management reports.