ANNUAL COMPLIANCE AUDIT IN RAK - RAS AL KHAIMAH
Annual financials of the companies registered under Ras Al Khaimah Freezones are advised to be audited each year and submitted at the time of its trade license renewal. While the standard reporting period is one calendar year, a company may nominate a different reporting period the first reporting period will commence from the date of incorporation and must not be less than six months and no more than eighteen months.
The importance of maintaining accounts should not be underestimated as they integral in preparing management reports. Ensuring that your accounts are 100% accurate and always up to date is beneficial for a number of reasons. Among others it helps management of the company in getting the audit of the accounts on time.
Soon after the formation of business in RAK Economic Freezones, UAE we advise our clients to maintain accounts of all the transactions, records, and details that can give them a true picture of their business performance on periodical basis.
The business entities are always challenged to reduce costs, avail the best services and add maximum value from their expenditures. Gupta Accountants in Dubai as cost effective accountants in Dubai, offers completely flexible and innovative Accounting Services .
Why Gupta Accountants ?
- Affiliate Partners of listed Audit Firms.
- Professionally qualified and experienced accountants in Dubai.
- Cost Effective accountants in Dubai.
- Compliance to International standards & applicable rules and regulations.
We will be glad to discuss how our Financial Services Department can assist you and your company.
Requirement of Audit for companies registered under RAK Economic Zone (RAKEZ)
RAKEZ is an Authority established to oversee and consolidate the specialised parks and companies registered under both Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA) in emirate of Ras Al Khaimah.
1. According to the implementing regulations of RAK Economic Zone, a company registered under RAK Economic Zone has to prepare financials statement and get the same audited and submit to RAK Economic Zone within six month from the end of the relevant financial year of the company.
2. Audit requirement is for the FZE, FZCO and Offshore companies registered under RAK Economic Zone.
3. Audit reports are to be submitted to RAK Economic Zone.
RAKEZ is an Authority established to oversee and consolidate the specialised parks and companies registered under both Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA) in emirate of Ras Al Khaimah.
1. According to the implementing regulations of RAK Economic Zone, a company registered under RAK Economic Zone has to prepare financials statement and get the same audited and submit to RAK Economic Zone within six month from the end of the relevant financial year of the company.
2. Audit requirement is for the FZE, FZCO and Offshore companies registered under RAK Economic Zone.
3. Audit reports are to be submitted to RAK Economic Zone.
