DWTC Approved Auditors
We are Approved Auditors by DWTC.
Approved Auditors for Dubai World Trade Centre Companies
Farahat & Co. is an approved auditor for the Dubai World Trade Centre (DWTC) free zone, authorised to conduct statutory audits for companies licensed within it.
Operating since 1979, DWTC is one of Dubai’s longest-established business destinations, known for its exhibition and conference facilities alongside its free zone company offerings.
Every company licensed under DWTC, including FZCOs, UAE branches and foreign branches, must submit an annual audited financial statement as part of trade licence renewal.
Services We Offer as DWTC Approved Auditors in UAE
As approved auditors for the Dubai World Trade Centre free zone, we deliver professional audit and financial services to businesses operating in one of the UAE’s most prestigious business destinations. Our team ensures full regulatory compliance at all times.
DWTC Audit Requirements and Regulations
Legal basis
The audit requirement for DWTC-licensed companies is administered by the Dubai World Trade Centre Authority (DWTCA), which oversees company formation, licensing, financial reporting and audit approval within the free zone. Non-submission of an audited financial statement is addressed under DWTCA Regulation 62, as set out in Circular No. 15 of 2023. Financial statements must be prepared in accordance with IFRS and audited to International Standards on Auditing by a DWTCA-approved auditor.
Who must comply
The audit requirement applies to every company licensed under DWTC, including Free Zone Companies (FZCOs), branches of UAE companies, and branches of foreign companies. There is no exemption based on size or activity, and companies sometimes mistakenly assume that DWTC’s tax exemptions also exempt them from audit requirements; the two are separate obligations, and both the Federal Tax Authority and DWTCA expect financial transparency regardless of a company’s tax position.
Penalties for non-compliance
Failure to submit an audited financial statement on time can result in financial penalties, reported to start in the region of AED 5,000, along with delays to trade licence renewal. Continued non-compliance can lead to suspension of the company’s ability to operate within the free zone.
Audit Process, Deadline and Documents Required
Filing deadline and submission process
Audited financial statements are typically due within 90 days of the end of the company’s financial year. For a company with a 31 December year-end, this generally places the deadline around 31 March. Companies should confirm the exact date tied to their specific licence renewal cycle rather than assuming a fixed calendar date applies uniformly.
Step-by-step audit process
- Prepare financial statements — in line with IFRS, forming the basis of the audit process.
- Maintain accounting records — proper records and supporting documents should explain transactions and reflect the company’s financial position.
- Review internal controls — the audit may assess internal controls to identify gaps or weaknesses.
- Appoint a DWTCA-approved auditor — confirm the firm’s current approval status before engagement.
- Receive the audit report — the auditor issues a report stating whether the financial statements present a true and fair view.
- Submit to DWTCA — ahead of the licence renewal date, within the 90-day filing window.
Documents required
Financial statements and accounting records, bank statements and reconciliations, invoices and supporting transaction documents, Memorandum and Articles of Association, valid trade licence copy, and VAT registration details where applicable.
Why Choose Farahat & Co. as Your DWTC-Approved Auditor
Farahat & Co. is an approved auditor for the Dubai World Trade Centre and supports the varied mix of companies licensed there, from FZCOs to branch offices of UAE and international companies. Our audit approach checks compliance with DWTCA’s specific circular-based requirements alongside standard IFRS and ISA testing, so a submission is not held up by a technical gap in documentation.
Beyond DWTC, Farahat & Co. holds approvals across more than 20 UAE free zones, including DMCC, JAFZA and DIFC, giving businesses with multiple UAE entities a single audit partner. We also help DWTC companies avoid a common misunderstanding: that the free zone’s tax exemptions reduce or remove the audit obligation, which they do not.
About Dubai World Trade Centre: Free Zone Profile
Dubai World Trade Centre has operated since 1979 and is one of Dubai’s most established business and exhibition destinations, known for hosting major international conferences and trade events alongside its free zone company offerings. Located along Sheikh Zayed Road, close to Business Bay and DIFC, DWTC offers executive, serviced and hot-desk office options, attracting companies seeking a central Dubai address alongside free zone benefits.
DWTC’s dual identity as both an events venue and a free zone licensing authority means its business community spans exhibition and event-related companies alongside general trading, consultancy and professional service businesses, all subject to the same audit and licence renewal requirements administered by DWTCA.