DMCC Audit – Deadline for submission of audited financial statements to Dubai Multi Commodities Centre

It is a mandatory requirement for all the DMCC registered entities to maintain accurate books of accounts and have them audited by a DMCC approved auditor under DMCC Companies Regulations no. 1/03.

The deadline for the submission of audited financial statements to DMCC is 90 days from the end of the entity’s financial year. For example, if an entity’s financial year ends by December 31, 2020 then that entity must submit its audited financial statements by March 30, 2021. An extension of another 3 months may be granted upon special request of an appointed auditor. However, it is at the sole discretion of DMCC to accept or refuse such a request.

RAA Auditing is an approved DMCC auditor and we are available to meet the mandatory requirements of audit to secure your ongoing trading license.

An audit performed by a non-approved DMCC auditor will not be accepted.

Failure to submit audited financial statements to the DMCC will result in a fine of AED 5,000 and suspension of DMCC online portal for the entity. Suspension of DMCC portal means the entity will not be able to communicate with DMCC.

A full set of audited financial statements and an audit summary issued by DMCC approved auditor must be submitted online at the entity’s online DMCC portal before the deadline. Also, officials of DMCC compliance department may require the entity to submit the original audited financial statements at any time.

RAA Auditing is a leading DMCC registered audit firm with a strong presence in the local business community and is well known for its quality of service delivery. We have mainly developed our business through small and medium-sized companies and we work closely with key authorities across all jurisdictions in UAE including DMCC.

Our team of professional auditors works closely with clients to take care of financial statements and to make sure all the audit-related requirements are met proficiently.

You can consult with one of our team members for a quick consultation related to audit or any other business-related matters.