FINANCIAL REVIEW & COMPLIANCE AUDIT
Sharjah Research Technology & Innovation Park (SRTIP) requires its licensees to submit a Financial Review and Compliance Audit Report at the time of license renewal. This is a specialized audit requirement mandated by SRTIP Authorities to verify that licensees maintain compliance with Free Zone regulations as well as the UAE’s Anti-Money Laundering (AML) laws and regulations.
Service Scope
MBK Auditing LLC is a registered auditor with SRTIP and prepares Financial Review and Compliance Audit Reports in the format prescribed by the Authorities.
The firm reviews financial statements prepared by the licensee for the period from the last license date until the latest period (not exceeding three months prior to submission) and expresses an opinion on whether any material modifications are required. The compliance audit component covers adherence to Free Zone regulations, tax compliance, and AML regulatory requirements.
Value Proposition
Selecting MBK Auditing means working with a firm that understands the complexities of UAE financial regulations and provides solutions to maintain business compliance and financial stability. The commitment to accuracy, efficiency, and transparency supports businesses in their financial management.
Benefits to Clients
- Facilitates smooth license renewal process with regulatory authorities
- Ensures improved compliance with tax and AML regulations
- Provides valuable guidance for business owners from non-accounting and finance backgrounds in respect of corrective measures and record keeping practices
- Reduces risk of regulatory penalties or license suspension
Registrations and Affiliations
- MBK Auditing LLC is registered as approved auditor in all major free zones in UAE including DIFC .
- MBK Auditing LLC is empanelled as auditor with major banking institutions in the UAE
- MBK Auditing LLC is registered as Offshore agent with JAFZA and RAKICC , the two offshore jurisdictions in UAE.
- MBK Auditing LLC is a member of GMNI , an association of legally independent accounting firms worldwide.
- Mr. Rajeev Kulkarni, Managing Partner is a qualified Chartered Accountant, registered with Ministry of Economy and Tourism (MoET).
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