RAKEZ Approved Auditors
AFD Auditors is an approved audit firm on RAKEZ's official auditors list, authorized to conduct statutory audits for companies registered in the Ras Al Khaimah Economic Zone. If your company is licensed in RAKEZ, we prepare and submit your annual audited financial statements in line with RAKEZ's requirements, so your trade license renewal proceeds smoothly.
Book Free ConsultationAbout RAKEZ and Why Hire Approved Auditors?
RAKEZ (Ras Al Khaimah Economic Zone) hosts thousands of companies ranging from startups to multinational enterprises, with a growing concentration in manufacturing, technology, and trade. Under RAKEZ’s regulatory framework, every registered company, whether a Free Zone Establishment or Free Zone Company, must appoint an auditor from RAKEZ’s approved list to review its financial statements and confirm they present a true and fair view. Any RAKEZ-licensed company preparing its annual accounts or renewing its trade license needs an auditor from this approved list; audits performed by non-approved firms are rejected outright.
Audit Requirements for RAKEZ Companies
- Annual financial statements must be prepared under IFRS and audited by a RAKEZ-approved auditor
- Audited financial statements must be submitted within six months of the company’s financial year end, for example by 30 June for a 31 December year end
- Auditors may also assess compliance with Corporate Tax, VAT, Economic Substance Regulations, and AML requirements where applicable
- The audit requirement applies to all licensed companies regardless of activity, revenue, or size, with limited practical flexibility for genuinely dormant entities
- Late or missing submissions can result in a fine of AED 2,500 or more, plus suspension of trade license or RAKEZ services
Documents Required for RAKEZ Audit Submission
- Valid trade license and Memorandum of Association
- Trial balance and general ledger for the financial year
- Bank statements and reconciliations
- Sales and purchase invoices
- VAT returns and ESR notifications, where applicable
- Prior year audited financial statements, where applicable
AFD Auditors Process for RAKEZ Approved Audits
- Engagement & Planning – We confirm scope and issue the engagement letter based on your license type and activity.
- Document Collection – We request trial balance, bank records, invoices, and regulatory filings where applicable.
- Audit Fieldwork – We verify transactions, balances, and documentation against IFRS and ISA standards.
- Financial Statement Preparation – We prepare IFRS-compliant statements with full disclosures.
- RAKEZ Submission – We finalize the signed audit report and support submission to the Authority within the regulatory deadline.
Free Consultation
Ready to get started?
Contact us today to schedule a consultation and take the first step towards achieving your financial goals.
Consult For FreeFrequently Asked Questions (FAQs)
Yes. All licensed entities in RAKEZ, including FZEs and FZCOs, must prepare and submit audited financial statements annually regardless of size or revenue.
Audited financial statements must be submitted within six months of the company’s financial year end.
Late submission can result in a fine of AED 2,500 or more, along with possible suspension of your trade license or RAKEZ services.
No. The auditor must appear on the official RAKEZ Approved Auditors List, and audits from non-approved firms are rejected.
Yes. RAKEZ-approved auditors typically assess compliance with Corporate Tax, VAT, and Economic Substance Regulations alongside the core financial statement audit.