Approved auditors
DubaiSiliconOasis,UAE
Since 20179 Since 2017
- On the zone's approved auditor list
- FTA approved tax agency
- Signed in time for renewal
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Tell us your licence expiry and we will tell you what the zone needs and by when.
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- FTA approved
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Vigor is a registered auditor for Dubai Silicon Oasis, UAE
Licensed by Dubai Silicon Oasis Authority. Technology, electronics and software companies, in a zone that is also a residential community.
Overview
Auditors registered in Dubai Silicon Oasis, UAE
Dubai Silicon Oasis (DSO) A Smart City located in the heart of Dubai and an integral part of its strategy to become a smart city. DSO authority offers tempting financial inducements coupled with other perks to corporations running in the free zone that is supported by high-class infrastructure and corporate services
For companies in the DSO free zone, keeping their financial records is mandatory and they must also be examined by auditors registered at Dubai Silicon Oasis. This was enforced originally from 2004, whereby audit and related services may only be performed by firms registered with DSO to uphold a high standard of accounting record keeping as well as reputation. With the help of recognised auditors in Dubai Silicon Oasis, one could ensure that they do not fail to meet their business requirements effectively.
Companies in DSO must keep their accounting records in such a way that the transactions effected by them can be satisfactorily explained and they are able to make a true presentation of its financial condition. Those records must be in accordance with International Financial Reporting Standards (IFRS) and give a true and fair view of profit or loss.
All businesses in Dubai Silicon Oasis free zone authority have to maintain audited books as per the commercial company laws and get their books certified by approved auditors. Moreover, auditing services in DSO are available hence companies intending to hire such should and must also see through rotation systems for keeping the matter objective. They audit whether operations are in line with the Counter Financing of Terrorism (CFT) and Anti-Money Laundering (AML) directives given out by UAE Central Bank. The financial crime auditors of Dubai Silicon Oasis are also obliged to submit reports about detected suspicious activities that relate to CFT statutes and AML.
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 Silicon Oasis, UAE 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 Silicon Oasis, UAE 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.
What you receive
A signed report the zone accepts
Audited financial statements with an independent opinion, signed by a firm on the approved list for Dubai Silicon Oasis, UAE. That signature is what the authority is looking for at renewal, and it is the whole reason the engagement exists.
- An independent opinion, not a compilation
- In the format the authority accepts
- Signed in time for the renewal window
Independent auditor’s report
To the shareholders of a company licensed in Dubai Silicon Oasis, UAE
Opinion
Basis for opinion
Vigor Accounting & Taxation LLC
Registered auditors, Business Bay, Dubai
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 external audit mandatory for companies in Dubai Silicon Oasis?
Most free zone licences, including those issued in Dubai Silicon Oasis, require audited financial statements as part of the annual renewal process. Whether this applies to your entity depends on your specific licence type and the free zone authority's current renewal requirements, so it is worth checking your licence conditions or asking your auditor directly.
02How much does an external audit cost for a DSO company?
Audit fees depend on the size of the company, the volume of transactions and the complexity of its accounts, so we cannot quote a fixed price here. We assess these factors and provide a proposal once we understand the scope of the work involved.
03When do I need to submit audited financial statements to DSO?
Submission deadlines are tied to your company's financial year end and licence renewal date, both of which are set by the free zone authority. You should confirm the exact date that applies to your entity through your licence documents or with the free zone directly.
04What happens if I do not submit an audit report on time?
Failing to submit required audited financial statements can hold up your licence renewal and may lead to further administrative action by the free zone authority. The exact consequences depend on the free zone's current rules, so it is best to confirm timelines well before your renewal date.
05Which documents do I need to provide for an external audit?
Auditors typically request bank statements, sales and purchase invoices, payroll records, fixed asset registers, prior year financial statements and supporting contracts, along with your trade licence and other statutory documents. The precise list depends on your business activity and accounting records, and your auditor will confirm what is needed once the engagement begins.
06How long does an external audit take to complete?
Timelines vary with the size of the company and how organised its records are, but a straightforward audit for a small or medium sized entity is generally completed within a few weeks of receiving all required documents. Larger or more complex companies may take longer.
Not here? Ask Vigor, and a specialist picks it up from there.
