Registered Auditors in JAFZA

Auditing by a JAFZA-listed auditor is required for all registered companies in JAFZA (Jebel Ali Free Trade Zone). According to free zone regulations, all JAFZA-registered companies must have JAFZA approval and an auditor to complete the annual audit report. Reyson Badger is a well-known and trusted auditor in JAFZA (Jebel Ali Free Trade Zone). An auditing practice assists a company in complying with legal authorities' rules and regulations.

Jebel Ali Free Zone Authority (JAFZA) is one of the oldest free zones in the United Arab Emirates (UAE), catering to the needs of thousands of businesses while supporting the UAE's goals of attracting foreign investment and ensuring long-term development. It is constantly striving to provide the best services to its members while maintaining quality and compliance with regional laws.

Step-by-Step Audit Report Submission Process

If you want your JAFZA audit report accepted on the first try, you need to follow every step, or risk having the submission rejected and your license renewal delayed. Here's how our registered auditors in JAFZA handle the entire process for you:

• Prepare the audited financial statements for the relevant accounting year, complying with IFRS and local JAFZA requirements.
• Complete the official JAFZA Summary Sheet (see guide below).
• Have the summary sheet signed and stamped by a JAFZA-approved auditor.
• Login to the company’s Dubai Trade Portal with admin access.
• Navigate to the "Financial Reports Submission" module and initiate a new Service Request (SR).
• Upload the required documents (see submission table below).
• Pay the portal processing fee using the specified payment method.
• Track the Service Request (SR) status online; processing usually takes 3 working days for review, barring issues.
• Once approved, retain the acknowledgement/approval message for your records.
   

Audit Period for JAFZA-Registered Companies

According to the provisions of the JAFZA regulations, every company must have its books of accounts audited by approved auditors in JAFZA and submitted within six months (180 days) of the end of the fiscal year, or within the extended period if any.

Why JAFZA Approved Auditors?

• Actively engage with clients to better understand their needs
• Give standards-compliant audit reports
• Time Audit Services
• Better understanding of business and making educated decisions.
• Ensures Transparency and Seamlessness

Responsibilities of a JAFZA Approved Auditor

• To check whether a firm's trading activities are in compliance with the trade license.
• To check whether financial statements and records must be accurate.
• To check whether you maintain VAT records and comply with VAT laws.
• Money laundering, fraud, creative accounting, and other financial abnormalities.
• In case a company fails to submit audited financial statements:
• The company will face penalties for non-compliance with JAFZA laws
• The trade license will not be renewed.
• Companies can request an extension to submit audit reports to JAFZA-approved
  auditors.

Required Submission Documents and Who Signs Them

Audit Period Requirements for JAFZA Companies

Your audited financials for JAFZA must cover not less than 6 months and not more than 18 months as per published JAFZA service guides. If you fail to comply, your submission is likely to be rejected.

Approved Auditor Qualifications & Licensing

Not all accounting firms can provide JAFZA audit services. Every registered auditor in JAFZA must hold a valid commercial license from the Dubai Economic Department (DED) with specific audit activities (e.g., 6920002 - Auditing of Accounts), and must be separately approved by JAFZA, a DED license alone is not sufficient. JAFZA keeps a published list of registered auditors – if your chosen auditor isn’t on this list, your submission will be rejected, and you risk license suspension until a JAFZA-listed auditor is appointed.

What Is a Summary Sheet and How to Fill It Out?

The summary sheet is the single-page statement of financial figures required for every JAFZA audit submission. This form must match figures from your official audited financials and be signed/stamped by your registered JAFZA auditor. If the summary sheet is incomplete, inconsistent, or unsigned, JAFZA will reject the submission, your license renewal gets delayed, and penalties and license renewal delays will follow.

• Use the official template downloaded from the Dubai Trade Portal.
• Review all required fields for your company's financial year (revenue, profit/loss, assets/liabilities, etc.).
• Have your JAFZA-approved auditor verify, sign, and stamp the sheet.
• Upload both the completed sheet and full audited financials together in the online portal.

How to access and use the Dubai Trade Portal for JAFZA audits

You can't submit audit reports offline; only Dubai Trade Portal access is accepted in JAFZA. If you don't have company admin portal access, contact your company's legal rep or Reyson Badger, we help set up submission credentials and walk you through:

• Log in at Dubai Trade Portal.
• Select the JAFZA partner login.
• Choose the correct company profile (FZE, FZCO, etc.).
• Find the "Financial Reports Submission" or similar audit module.
• Follow on-screen steps, uploading the signed/stamped summary and financials.
• Track your Service Request (SR) status and respond to feedback if required.
   

How Should the Audited Financial Statement be Submitted?

Every JAFZA Registered Company must upload the summary sheet of financial figures in the prescribed form, which must be signed and stamped by the JAFZA Approved Auditors, along with the Audited Financial Statements, to the JAFZA portal.

How does VAT apply to transactions in JAFZA?

Qualified professionals with more than ten years of experience in the region, such as Chartered Accountants, Certified Public Accountants, and others, lead the Audit with impeccable mastery skills and knowledge. They advise accountants on how to design and prepare financial statements in accordance with International Financial Reporting Standards (IFRS) while maintaining audit independence where necessary. As a responsible JAFZA Approved Auditor, if we identify a potential internal control weakness, we issue a management letter directing management to take corrective action. It is always recommended to have an internal auditor take corrective action as soon as it occurs.

What is the Purpose of Mandatory Audits from JAFZA-approved auditors?

JAFZA-registered enterprises must employ an auditor to analyze and report on their accounts, in accordance with local and international requirements. Auditors' reports assess whether the accounts were prepared in compliance with regulations and provide an accurate and fair assessment of the company's financial statements. If a company in JAFZA fails to submit audited financial statements to the Authority within the time frame specified, it will be subject to a penalty for non-compliance with the JAFZA Regulations. Companies may, however, request an extension of the deadline for submitting audit reports from approved auditors in JAFZA to the Free Zone Authority. The primary risk that companies face for failing to submit audited financial reports is the loss of their JAFZA trade license.

What documents must be kept for JAFZA audits?

Every company registered under JAFZA must keep proper books of accounts and provide them to JAFZA JAFZA-approved auditors for auditing. In addition to the trial balance, financial statement, and relevant MIS reports, the company should provide the auditor with various legal documents to verify during the audit. The following are examples of legal documents:

• Articles of Association (MOA) Memorandum of Association (MOA) (AOA)
• Copies of trade licenses
• Certificate of ownership
• Incorporation Certificate

When necessary, the company should provide supporting documents for transactions, such as invoices, vouchers, contracts, and so on, to the auditors for verification.

Why Should You Hire Reyson Badger for JAFZA Audit?

Reyson Badger's highly qualified audit team will assist businesses in ensuring that their financial statements are true and accurate. Our services will ensure that the company's audit report reflects an honest opinion on the company's financial health, easing the license renewal process with the JAFZA.

• Conduct the audit in accordance with the International Standards on Auditing (ISA).
• We are committed to providing our clients with high-quality services in a timely manner.
• Members of the IECNet, an international association of accountants, auditors, and tax professionals, maintain their positions.
• Our goal is to help clients advance financially and socially.
• A firm of ISO-Certified Chartered Accountants.
• Listed with all of the major free zones and banks in the UAE. 

Reyson Badger is your reliable partner, guaranteeing integrity, precision, and compliance in financial reporting. Our commitment and experience enable us to provide businesses in JAFZA with complete solutions that instill trust in their financial operations.
 

FAQs 

1. What documents are required for a JAFZA audit?

Typically required documents include financial statements (balance sheet, profit & loss account), bank statements, sales and purchase invoices, payroll records, general ledger, trial balance, and any relevant contracts or agreements for the audit period.

2. How often do JAFZA companies need to submit audited accounts?

Audited financial statements must be submitted annually. The audit report is generally required at the time of trade license renewal with JAFZA.

3. What happens if a JAFZA company fails to submit its audited financial statements?

Failure to submit audited accounts can result in penalties, delay or refusal of license renewal, and potential suspension of the company's operations within the free zone.