- According to the implementing regulations of the DMCC, a DMCC Member Company has to upload the auditor’s signed & stamped Audited Financial Statements Summary Sheet and the Audited Financial Statements Report via a designated online service request on the member portal within 180 days after the end of each financial year.
- As per the Approved Auditors Rules (AAR) of DMCC issued on 12th January 2017, it is the responsibility of each DMCC member company to ensure that their appointed auditor is registered as an Approved Auditor with DMCCA and is listed in the Approved Auditors List (AAL). These rules do not apply to auditors appointed to audit DMCC member companies registered as a branch company provided such a company has a group auditor.
- Submission of Audited Financials is applicable to all DMCC companies including subsidiaries and branch companies.
Where the Annual Financial Statements should be submitted ?
The Company is required to submit the Audited Financial Statements Report along with the Summary Financials Sheet on the Members DMCC Portal
What about the Original Audited Financials Statements ?
Original documents should be well maintained with the company and made available upon request by the DMCC Inspection Team.
Is the Submission of the Audited Financial Statements : Mandatory or voluntary ?
The Submission of the Audited Financial Statements is a Mandatory obligation. Non compliance is subject to the levies of the administrative penalties. Submission of Audited Financials is applicable to all DMCC companies including subsidiaries and branch companiess.
How to submit the audited financials on the DMCC Portal ?
- Login on the DMCC Portal as per the login credentials of the company to access the same
- Go to Company Services - Look for the Compliance Services Tab
- Click on “Submit Company Audited Financial Statements Summary Sheet and Report”
- Fill the details on the online declaration form as per the Summary Financial Report as provided by the Auditors
- Approve the aforesaid duly filled online declaration form
- Attaché the Scan copy of the Summary Financial Reports as provided by the Auditors
- Attaché the Scan copy of the audit reports signed by the management with the official seal of the company
Link to the DMCC Members Portal
DMCC APPLICATION GUIDELINE : COMPLIANCE SERVICES - SUBMISSION OF AUDITED FINANCIAL STATEMENTS
Gupta Accountants provide a full range of services, like compilation of the annual accounts, assistance in the annual audit, value added tax compliance & advisory corporate tax compliance & advisory, economic substances regulation compliance & advisory to the Dubai Multi Commodities Centre (DMCC) based companies in the United Arab Emirates.