DMCC Approved Audit FIRm in UAE
DMCC Audit & Accounting Service Provider
Hussain Al Shemsi Chartered Accountants
DMCC approved auditors and accountants
Hussain Al Shemsi Chartered Accountants is an approved auditor for Dubai Multi Commodities Centre (DMCC). We deliver IFRS-compliant audit reports, FTA-aligned tax reviews, and full license renewal support for DMCC-registered companies.
Why Is a DMCC Audit Mandatory?
What is a DMCC Audit?
A DMCC audit is an independent examination of a company's financial statements carried out by a DMCC-approved auditor. Dubai Multi Commodities Centre (DMCC) requires all registered companies to submit audited financial statements prepared under International Financial Reporting Standards (IFRS) annually as a condition of trade licence renewal and regulatory compliance.
The Dubai Multi Commodities Centre (DMCC) is the world's leading free trade zone for commodities trade and enterprise, with over 23,000 member companies. As part of its licensing framework, DMCC mandates that every registered company appoint an auditor from the DMCC-approved auditor list and submit audited financial statements within 90 days of the end of the financial year.
DMCC Compliance Requirement: Under DMCC Authority regulations, all DMCC-licensed companies must submit annual audited financial statements prepared by an approved auditor. Failure to comply can result in licence suspension, financial penalties, and restrictions on visa processing.
Companies in violation risk trade licence non-renewal — which in turn affects employee visa status, business banking, and ability to operate in the UAE. Working with a DMCC-approved auditor from the start ensures your reports are accepted by the Authority without delay.
Who Must File a DMCC Audit?
- All companies holding a DMCC trade licence, regardless of turnover or size
- Dormant DMCC companies still on the register (a nil-activity report is still required)
- Companies operating under a DMCC Flexi Desk arrangement
- Branch offices of foreign companies registered in DMCC
- Companies undergoing partial year operations after a mid-year licence activation
How can we help you?
Get in touch with Hussain Al Shemsi Chartered Accountants for expert auditing, accounting, tax, and advisory services in the UAE.
- +971 50 3636231
Our DMCC Audit Process
Engagement & Planning
We issue an engagement letter, confirm the audit scope, and gather preliminary financial data including your chart of accounts, bank statements, and prior year reports.
Risk Assessment
Our audit team assesses the financial risk profile of your DMCC company, identifies material areas, and sets an audit materiality threshold in line with IFRS requirements.
Fieldwork & Verification
We verify transactions, reconcile accounts, confirm balances with third parties, and test internal controls. All work is documented in accordance with ISA (International Standards on Auditing).
Draft Report & Review
A draft audit report with financial statements is shared with your management for review. We address any queries, adjust disclosures, and finalise the report jointly.
Submission to DMCC
We provide the signed, stamped audit report ready for submission to DMCC Authority via the DMCC member portal (Trakhees) to support your annual licence renewal.
⏱ Typical turnaround: 2–4 weeks from receipt of complete financial records, depending on company complexity and transaction volume. We offer expedited processing for licence renewal deadlines.
Why Choose Hussain Al Shemsi Chartered Accountants for Your DMCC Audit?
DMCC Approved Auditor
We are listed on the DMCC Authority's approved auditor panel, ensuring your audit report is accepted for trade licence renewal without objection.
Fast Turnaround
Most DMCC audits are completed within 2–4 weeks of receiving complete records. Expedited service available for licence renewal deadlines.
IFRS & ISA Expertise
All engagements are conducted under International Standards on Auditing (ISA) and IFRS, as mandated by DMCC and accepted by UAE banks and regulators.
Ministry of Economy Licensed
Hussain Al Shemsi Chartered Accountants is licensed to practice auditing and accounting by the UAE Ministry of Economy — a mandatory credential for free zone audits.
IR Global Member
As a member of IR Global, the world's largest exclusive network of advisory firms, we bring international standards and cross-border expertise to every engagement.
18+ Years of UAE Experience
Our team of Chartered Accountants (CA, ACCA) has served 500+ clients across free zones, mainland, and offshore entities in the UAE since 2006.
Frequently Asked Questions — DMCC Audit
Is a DMCC audit mandatory for all registered companies?
Yes. DMCC requires all registered companies — including active, dormant, and Flexi Desk entities — to submit audited financial statements prepared by a DMCC-approved auditor every year. The audit report must be submitted within 90 days of the end of the financial year as a condition of annual trade licence renewal.
Is Hussain Al Shemsi Chartered Accountants on the DMCC approved auditor list?
Yes. Hussain Al Shemsi Chartered Accountants is an approved auditor recognised by DMCC Authority. Our reports are accepted for licence renewal, bank submissions, and FTA filings. We are also licensed by the UAE Ministry of Economy and are members of IR Global.
What financial statements are required for a DMCC audit?
DMCC requires a full set of IFRS-compliant financial statements: a Statement of Financial Position (Balance Sheet), Statement of Profit or Loss, Statement of Cash Flows, Statement of Changes in Equity, and Notes to the Financial Statements — all accompanied by an independent auditor's report signed by the approved auditor.
What happens if a DMCC company does not submit its audit on time?
Failure to submit audited financial statements by the DMCC deadline can result in trade licence suspension, inability to renew employee visas, restrictions on opening or maintaining UAE bank accounts, and financial penalties imposed by DMCC Authority. We recommend beginning the audit process at least 60 days before your licence renewal date.
How long does a DMCC audit take?
Most DMCC audits are completed within 2–4 weeks from the date we receive complete and organised financial records. Larger or more complex entities may take longer. We offer expedited processing for clients with imminent licence renewal deadlines — contact us to discuss your timeline.
Does my DMCC company need to file UAE Corporate Tax even as a free zone entity?
Yes. Under Federal Decree-Law No. 47 of 2022, UAE Corporate Tax applies to all businesses including free zone entities. However, DMCC companies may qualify for 0% tax on qualifying income if they meet the Qualifying Free Zone Person (QFZP) conditions. Our team can assess your eligibility and ensure your audit aligns with your Corporate Tax registration. Learn more about our Corporate Tax services.
What documents do I need to provide for a DMCC audit?
Typically required: complete trial balance and general ledger, bank statements for all accounts (full year), sales invoices and purchase bills, payroll records, lease agreements, loan documentation, previous year audited financial statements, and your DMCC trade licence. Our team will provide a full document checklist upon engagement.
Need a DMCC Approved Auditor?
Get your DMCC audit completed by Hussain Al Shemsi Chartered Accountants — Sharjah's trusted, Ministry of Economy-licensed audit firm with 18+ years of UAE experience. IFRS-compliant reports accepted by DMCC, UAE banks, and the FTA.
Get a Free Consultation Call +971 50 363 6231Or email us at info@hussainalshemsi.ae
