KIZAD Industrial Zone, otherwise called Khalifa Industrial Zone is an Abu Dhabi-based project featuring a Free Zone initiated by the UAE Government. The main motivation for this project was to introduce a new life to the country’s industrial sector. As a concept, Khalifa Industrial Zone Abu Dhabi (KIZAD) started in 2010 and took off two years later with the help of the government following their commitment to achieving economic diversity.
According to the regulations of the UAE government as it pertains to the KIZAD Free Zone, all businesses operating within the Khalifa Industrial Zone Abu Dhabi (KIZAD) are expected to file audited financial statements every year. These financial statements must have been audited by KIZAD approved auditors in line with the International Financial Reporting Standards (IFRS).
Thanks to the Khalifa Industrial Zone Abu Dhabi (KIZAD), it is now easy for companies operating within to get raw materials for their businesses. The zone has also increased their respective availability to their individual markets.
Regions within the Khalifa Industrial Zone Abu Dhabi (KIZAD)
| Zone | Description |
| A | ● More focused on the businesses operating in the industrial sector. ● Offers many different opportunities in real estate. ● Also helps serve the needs of the employees, clients, and visitors |
| B | ● Provides heavy and light industries, logistics industries, retail stores, commercial complexes, and numerous residential developments. |
Per the regulations of the Khalifa Industrial Zone Abu Dhabi (KIZAD) authority, the UAE government has set it that affected businesses have to collect individual licenses depending on the nature of their business. These include:
1. Industrial license
This license makes it possible for the holder to import as well as export equipment, which may include machines and related assembly, together with their packaging.
2. General Trading License
This license enables the concerned company to trade, import, and export goods. With a general trading license, a business can also trade in general goods while at the same time integrating certain specific products.
3. Service license
The service license enables a company in its pursuit of the restaurant, marketing, consultancy, travel and tourism, warehousing, and logistics services.
Top Approved Auditors in KIZAD Industrial Zone
It is very difficult for a business to single-handedly monitor every rule and regulation in their ecosystem, especially when they operate within a free zone. Cognizant of this fact, KIZAD has approved several auditors to help the businesses.
Intellect Chartered Accountants
With more than 21 years of experience to their belt, Intellect Chartered Accountants are the surefire solution for clients who want auditing services and business solutions in the line of compliance and regulation. With these approved auditors in KIZAD Industrial Zone, you get solutions for all your business needs, all delivered in top-notch quality.
Among the services you enjoy with Intellect Chartered Accountants include auditing, accounting, and the management of any financial or business solutions. These services are key enablers to the success and proliferation of any business in Khalifa Industrial Zone Abu Dhabi (KIZAD).
Without any compromise on quality, professionals at this KIZAD Industrial Zone approved company use their targeted skills and expertise to powerfully work on the moral practices of your company and in the process help you and your staff to maintain unchallenged financial values so that you can be on the right side of the IFRS and the Standards of the ISA as well.
Benefits for a business operating within the KIZAD Industrial Zone
There are many benefits that a business operating within the Khalifa Industrial Zone Abu Dhabi (KIZAD) is exposed to. Among them include the following:
- Business Districts provide a wide array of facilities as well as services to a business operating in the Khalifa Industrial Zone Abu Dhabi (KIZAD). These facilities are all served with the infrastructure required for their operation.
- Land leasing for KIZAD Industrial Zone businesses. This is geared to help them in the development of infrastructure projects depending on what each business requires.
- Warehouses within the Khalifa Industrial Zone Abu Dhabi (KIZAD) are all pre-built and have been supplied with all the requisite features that have been made available within the region on demand.
- Light Industrial Units are utilized by almost any business to deliver flexible and high-quality output to businesses.
With these approved auditors in KIZAD, You are assured that your business will comply with the concerned regulations while at the same time benefiting from reliable business solutions as well as financial challenges.
FAQs:
Regulators in the financial sector within the Dubai and UAE community have made it a law that all businesses operating within the Khalifa Industrial Zone Abu Dhabi (KIZAD) free zone be audited by a registered firm under the same zone.
With external auditing services, you are assured of an objective eye to provide you with an accurate business reflection. The opposite comes with a lot of bias, often conforming results to what the management would want to see.
An auditor is required by law to report any instances of non-compliance and fraud if they happen to identify it in a company.
An audit report must be correct and accurate, providing a clear and concise reflection of the current financial state of the company. Integrity is key when it comes to financial reporting, hence the mandatory requirement that businesses or firms use the services of a registered auditing company.
Intellect Chartered Accountants stand among the best KIZAD approved auditing firms in UAE, providing industry-standard auditing services that are geared at ensuring the business performs well while operating within legal confines.
