DSO Approved Auditors
Audit Requirement for Companies in Dubai Silicon Oasis (DSO)
The companies operating in Dubai Silicon Oasis (DSO) Free Zone are required to get their books of accounts audited only by audit firms registered with the Dubai Silicon Oasis Authority (DSOA). Audit firms that are not registered in DSOA are not permitted to conduct audits, liquidation, or offer any financial services to the companies within the DSO Free Zone.
Since its establishment in 2004, Dubai Silicon Oasis Authority (DSOA) has maintained its high standards and stellar reputation. Owned by the Government of Dubai, DSO was established to serve as a hub for modern, technology-based industries.
What sets Dubai Silicon Oasis apart is that it’s the only free zone in the region that offers a fully integrated working and living community within a dedicated technology park. Its vision is based on six strategic pillars:
Supporting large businesses, startups & SMEs
Hosting universities and incubation centres
Providing access to venture capital funds
Delivering high-tech infrastructure
Offering government & business services
Fostering innovation through a tech-driven environment
At Al Fakher Accounting, we are registered with DSOA and authorized to conduct financial audits in compliance with DSO regulations. Our expert auditors ensure timely and accurate audits, helping DSO companies meet their statutory obligations and maintain credibility with the authorities.
Maintaining Accounting Records for Auditing
Companies operating within Dubai Silicon Oasis Authority (DSOA) are required to maintain proper accounting records along with underlying documents that clearly explain all business transactions. These records must provide an accurate and transparent picture of the company’s financial position at any given time.
All accounting records must be prepared in compliance with International Financial Reporting Standards (IFRS) and should reflect a true and fair view of the company’s profit and loss for the relevant financial year. This is essential for audit readiness and regulatory compliance as per DSOA guidelines.
At Al Fakher Accounting, we ensure that your company’s books of accounts are maintained with complete accuracy and according to DSO’s audit regulations, supporting long-term financial transparency and license renewal.
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Auditing Services in Dubai Silicon Oasis (DSO)
Al Fakher Accounting & Tax Consultancy is a registered audit firm with various free zones across the UAE and is also one of the approved auditors in Dubai Silicon Oasis (DSO). With years of experience in the industry, Al Fakher has successfully served numerous companies across Dubai and the UAE as a trusted chartered accountancy and audit firm.
Our dedicated team of external auditors has hands-on experience in assisting businesses operating within Dubai Silicon Oasis. We ensure full compliance with the regulatory requirements and guidelines issued by DSOA, helping company management gain a clear understanding of their financial position. This enables them to make informed decisions to drive sustainable business growth while remaining compliant.
Our professionals ensure that all audit procedures follow the best practices and reporting standards such as International Financial Reporting Standards (IFRS), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT), as required by the UAE Central Bank and DSOA regulations.
For detailed information regarding audit requirements, processes, and compliance in DSO, fill out the quick inquiry form below and get in touch with one of the most reliable and professional audit firms in Dubai Silicon Oasis.
Companies that hire the services of an auditor should ensure their independence. This can be ensured by implementing a rotation system for the auditors. The approved audit firm ensures that the company operations are administered as per the AML & CFT guidelines by UAE Central Bank. The audit firm is required to report to the authorities if they suspect any activity against the Anti-money laundering and CFT regulations.
The auditor’s report must provide details on whether the accounts present a true and fair view of the company’s affairs at the end of the financial year and accounts are free from material misstatements. The auditor also needs to state in his report whether the company is undertaking the activities permitted under its license.
The DSO approved auditors must decide whether the company has maintained proper records and the auditor can carry out investigations in this regard. The auditors must also ensure that the accounts of the company are in agreement with the accounting records and returns. Companies operating in DSO can choose from the approved auditing firms based on the reputation and experience of such firms like Al Fakher Accounting & Tax Consultancy.
Requirements from DSO Approved Auditors to Conduct the Financial Audit
To perform an accurate and compliant financial audit, DSO-approved auditors such as Al Fakher Accounting & Tax Consultancy require companies to furnish essential financial and legal documents. These documents help auditors assess the financial health of the company and ensure compliance with Dubai Silicon Oasis Authority (DSOA) regulations and International Financial Reporting Standards (IFRS).
Below are the key documents required to initiate the audit process:
Bank Statements (for the relevant financial year)
Credit/Debit Confirmation Slips for all major financial transactions
Copies of Invoices and Bills
Statement of Deposits from the DSO portal
Memorandum of Association (MoA)
Articles of Association (AoA)
Latest Trade License
Trial Balance, Profit & Loss Statement, and Balance Sheet
VAT and Excise Tax Registration Details (if applicable)
Audit Schedules – including fixed asset register, accounts receivable/payable aging, provisions, accruals, etc.
Timely submission of these documents ensures a smooth audit process, allowing our team to provide an accurate and fair audit opinion.