Audit & Assurance
External auditing is a requirement in Fujairah Free Zone (FFZ), one of the major free zones in the Emirate of Fujairah. Fujairah Free Zone, located next to Fujairah International Airport and Fujairah Sea Port, provides unparalleled opportunities and services to both startups and established businesses. Businesses operating in the Fujairah Free Zone also have weekly feeder access to the Red Sea, all Arabian Gulf ports, Pakistan, Iran, and India. Weekly mainline services arrive at FFZ from North America, Northern Europe, the Mediterranean, and the Far East, with services departing once a week to North America and twice a week to the Far East.
Fujairah Free Zone provides easy access to the world's major shipping routes, as well as an international airport and a fine sea port, as well as streamlined procedures and processes. All of these features and facilities combine to make the FFZ an ideal place to conduct business.
Each free zone in the United Arab Emirates (UAE) is governed by a local authority, which is in charge of establishing rules and regulations that businesses must follow when conducting business in the free zone areas. Fujairah Free Zone Authority is the authority in charge of regulating and controlling the environment for businesses in Fujairah Free Zone (FFZA).
The following types of business entities can be established/registered in the FFZ:
Any foreign or local company can open a branch in the Fujairah Free Zone if certain requirements/conditions are met. The branch can only engage in business activities that are similar to those of its parent company. A company usually needs the following documents to open a branch in the FFZ:
Businesses that want to operate in the Fujairah Free Zone must first obtain a commercial licence from the FFZA. The FFZA provides the following types of business licences:
Businesses operating within the FFZ benefit from the following advantages:
The Fujairah Free Zone Authority requires any business operating in the FFZ to appoint an auditor from the list of FFZA approved auditors to report on the financial and operational aspects of the business and to provide an opinion on whether the entity's financials present a true and fair picture and are prepared in accordance with applicable rules and regulations. Reyson Badger is an FFZ-approved auditor and can conduct external audits of FFZ-registered businesses.
For the following reasons, the FFZA requires businesses registered in the FFZ to have their operations and financial statements audited annually by an approved auditor in the FFZ:
Only audit firms approved by the FFZA are permitted to conduct annual statutory audits on businesses registered in the FFZ. The FFZA has its own standards and procedures for granting audit firms licences to audit businesses operating in the FFZ. To maintain its status as an approved auditor in an FFZ, an audit firm must provide FFZA evidence that its staff members are updating their knowledge and both accounting and auditing rules and procedures are evolving..
Reyson Badger is a well-known auditing and bookkeeping firm in the United Arab Emirates. We are an FFZ-approved audit firm that has audited a number of high-profile FFZ businesses.
We are well-known throughout the world for providing high-quality audit and bookkeeping services. Reyson Badger employs highly experienced accounting, audit, and tax professionals who are well-versed in accounting and auditing standards, as well as the rules and regulations that govern free zones and the UAE.
In addition to statutory audit services, we also offer the following: