Dubai Internet City (DIC) Approved Auditors
We are Approved Auditors by DIC.
Audit Services for Dubai Internet City Companies
Farahat & Co. is an approved auditor for companies registered in Dubai Internet City (DIC), a business district regulated under the Dubai Development Authority (DDA).
Founded in 1999 as the world’s first dedicated technology, e-commerce and media free zone, DIC is now the largest ICT hub in the Middle East and North Africa, home to more than 1,600 companies including Microsoft, Google, Oracle, Cisco and Intel.
Every DIC-registered company must prepare and submit audited financial statements annually through the AXS portal, in line with DDA’s Private Companies Regulations.
Services We Offer as Dubai Internet City Approved Auditors in UAE
As approved auditors in Dubai Internet City, we offer specialised audit and financial services for technology and digital businesses in the UAE’s leading tech hub. Our team helps DIC-registered companies maintain compliance and achieve financial clarity.
DIC Audit Requirements and Regulations
Legal basis
As a DDA-regulated business district, DIC companies are governed by DDA’s Private Companies Regulations. Members must appoint an auditor at each annual general meeting, and the auditor’s report must confirm whether the accounts give a true and fair view of the company’s financial position, prepared in accordance with IFRS or another accounting standard approved by the Registrar. Financial statements and the auditor’s report must be submitted through the AXS portal, generally within six months of the financial year-end.
Who must comply
The requirement applies to all FZ-LLCs and branch offices registered in DIC, spanning software development, IT services, e-commerce, artificial intelligence, cybersecurity, cloud computing and technology consultancy activities. Branch offices may submit either the parent company’s consolidated audited financial statements or a stand-alone extract for the branch’s own operations. Companies must retain financial statements and supporting records for at least eight years.
Penalties for non-compliance
Late or missing submission of audited financial statements can delay trade licence renewal and create broader compliance issues with DDA. Given DIC’s concentration of technology companies with intercompany service arrangements, software licensing income and cross-border billing, an incomplete audit can also complicate a company’s UAE Corporate Tax position, particularly for companies relying on Qualifying Free Zone Person status.
Audit Process, Deadline, Documents and Technology-Sector Considerations
Filing deadline and submission process
Financial statements and the auditor’s report must be laid before members at the annual general meeting within six months of the financial year-end, with audited financial statements and the Financial Statements Report Summary Sheet submitted through the AXS portal within the same window.
Technology-sector audit considerations
- Software and SaaS companies: subscription revenue recognition, deferred revenue, and multi-year licensing arrangements.
- IT services and consultancy firms: project-based billing, milestone invoicing, and subcontractor costs.
- E-commerce and digital platforms: multi-currency transactions, payment gateway reconciliation, and platform fee treatment.
- Companies with intercompany arrangements: transfer pricing documentation and related-party transaction disclosure, particularly for regional headquarters and R&D centres based in DIC.
Documents required
Trade licence, Memorandum and Articles of Association, general ledger and trial balance, bank statements and reconciliations, sales invoices and customer contracts, accounts receivable and payable aging reports, payroll and WPS records, fixed asset register, VAT returns, corporate tax registration details, and previous audited financial statements where available.
Why Choose Farahat & Co. as Your DIC-Approved Auditor
Farahat & Co. supports Dubai Internet City companies across software development, IT services, e-commerce and technology consultancy activities. Our audit approach reflects the specific revenue recognition and intercompany considerations common among DIC’s technology tenants, from subscription-based SaaS businesses to companies operating as regional headquarters for global technology groups.
Beyond DIC, Farahat & Co. holds approvals across more than 20 UAE free zones, including DMCC, JAFZA and DIFC, and supports companies across every other DDA-regulated business district, giving technology groups with operations spanning DIC, Dubai Media City and Dubai Knowledge Park a single, consistent audit partner.
About Dubai Internet City: Free Zone Profile
Dubai Internet City was founded in October 1999 and opened in October 2000 as the world’s first dedicated technology, e-commerce and media free zone, an initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum. DIC is now the largest ICT hub in the Middle East and North Africa, home to more than 1,600 companies, including global technology firms such as Microsoft, Google, Oracle, Cisco, IBM and Intel, alongside a growing base of startups and SMEs.
DIC is part of TECOM Group and regulated under the Dubai Development Authority, situated adjacent to Dubai Media City and Dubai Knowledge Park within Dubai’s broader technology and innovation corridor. According to a 2025 Accenture-partnered impact study, DIC has contributed more than AED 100 billion to Dubai’s GDP over the preceding 15 years, reflecting its role as a centre for software development, artificial intelligence, cybersecurity and cloud computing activity in the region.