DMCC Annual Compliance: Submission of Audited Financial Statements
Submission of the Audited Financial Statements for the financial year ending 31 December 2024 on DMCC Portal
|
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 90 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 to submit Annual Financial Statements? |
The Company is required to submit the Audited Financial Statements Report, along with the Summary Financials Sheet, through the Members DMCC Portal as part of its annual compliance obligations. This submission ensures transparency, regulatory adherence, and the proper evaluation of the company’s financial performance by DMCC authorities.
|
What about originals? |
Original Audited Financial Statements Report, along with the Summary Financials Sheet, 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 for all DMCC-registered entities. Failure to comply with this requirement may result in the imposition of administrative penalties by the DMCC Authority. This obligation applies uniformly to all DMCC companies, including subsidiaries and branch offices, regardless of the size or nature of their business operations. Timely and accurate submission is essential to maintain good standing and avoid regulatory consequences.
|
Can startups or dormant companies skip the audit requirement? |
No, all DMCC companies, regardless of activity or turnover, must comply with audit requirements.
|
What documents are required for a DMCC audit? |
Key documents include trial balance, bank statements, invoices, VAT returns, and general ledger.
|
What are the audit requirements for DMCC Free Zone? |
Companies must appoint a registered auditor approved by DMCC and submit the audit report via the DMCC portal.
|
Is an audit mandatory for DMCC companies? |
Yes, all DMCC-registered companies are required to submit audited financial statements annually.
|
What is the deadline for submitting audited financials in DMCC? |
Companies must submit their audited financial statements within 90 days of the end of their financial year. Most of the time additional 90 days are allowed by the DMCC free Zone.
|
Who can perform audits for DMCC companies? |
Only auditors listed and approved by the DMCC Authority are authorized to conduct and submit audits.
|
What are the penalties for not submitting an audit in DMCC? |
Failure to submit on time can result in fines, license renewal issues, and possible suspension of company activities.
|
How can Gupta Accountants help with DMCC audit services? |
Gupta Accountants offers end-to-end audit solutions — from bookkeeping to final report submission — ensuring full DMCC compliance.
|
|
|
Why choose Gupta Accountants
Gupta Accountants provides best professional support to the DMCC Free Zone based companies;
DMCC Annual Accounting – Professional support for maintaining accurate financial records.
DMCC Annual Audit – Assistance with mandatory audits to ensure compliance with DMCC regulations.
DMCC VAT Service – VAT consulting, registration, filing, refund and compliance support.
DMCC Corporate Tax Service – Advisory, registration, filing and compliance assistance for corporate taxation in DMCC.
DMCC Annual Accounting – Professional support for maintaining accurate financial records.
DMCC Annual Audit – Assistance with mandatory audits to ensure compliance with DMCC regulations.
DMCC VAT Service – VAT consulting, registration, filing, refund and compliance support.
DMCC Corporate Tax Service – Advisory, registration, filing and compliance assistance for corporate taxation in DMCC.
Dubai: Gupta Accountants Audit Services |
The Gupta Accountants team of approved auditors and listed audit firms offers expert annual audit assistance services in the UAE.
We provide professional support at every stage of auditing of the financials statements across the UAE, including Dubai, Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Fujairah, and Ras Al Khaimah.
|
