A company’s impact on the local economy is assessed by the ICV certificate UAE, which also gives mainland and free zone companies an edge when local federal agencies and program partners go out to bid. In Dubai, Rewind Consultancy is the best ICV Audit Experts and ICV Certificate Consultants in UAE.

The Abu Dhabi Department of Economic Development (ADDED) established the Abu Dhabi Local Content Programme (ADLC) with the following objectives:

GDP Growth: Increasing the amount of goods and services sourced locally, increasing foreign direct investment in Abu Dhabi, and increasing the GDP contributions of SMEs and the private sector are all ways to promote GDP growth.

Human Capital Development: enhancing local labour force competencies and expanding Emiratis’ access to private sector employment possibilities.

Adoption of Technology: It involves increasing national industrial competitiveness, funding research and development (R&D), and quickening the creation and use of new technologies.

Why Should ICV Audit Company do in UAE?

Companies on the ICV auditors list can assist organisations in obtaining certification. Companies can find holes in their systems and fix faults if they find them using an ICV audit. This kind of audit will examine every procedure the business has used and look for internal issues and controls related to those procedures. Companies can demonstrate their compliance with the ICV guidelines by completing an ICV audit of this kind. Additionally, the organisation is required to receive an ICV certification. To demonstrate that the score they submit for tenders is valid, they must have such an ICV certificate. 

What are the Benefits of an ICV Audit
in the UAE?

What are the Benefits of an ICV Audit in the UAE?

Here are some benefits of an ICV audit in the UAE: 

  • Boost the business’s reputation.
  • Identify and stop anomalous activity and fraud.
  • Boost stakeholder and shareholder trust overall.
  • Put quality control in place and make remedial measure suggestions.
  • Adherence to legal requirements, regulations, and international accounting standards

Why Choose Rewind Consultancy?

In the UAE, obtaining an ICV certification is challenging and calls for professional help. Suppliers must fulfil several standards, such as submitting the MoIAT-recommended supplier submission template and providing audited financial statements. The most recent audited financial statements must be followed while filling out the template. 

A leading ICV certification service provider in Dubai, like Rewind Consultancy, can assist suppliers in fulfilling these crucial obligations. A group of qualified auditors and accountants at Rewind Consultancy are available to help businesses with Template submission requirements. We will get you an ICV certificate and help you along the way. 

We will offer you ICV certification services and other accounting-related services that are the best in the UAE.

In addition, Rewind Consultancy may generate audited financial statements and counsel the companies on the variables affecting their ICV score. In addition, we offer other services, including tax preparation, bookkeeping and accounting, auditing, ICV certification, and many more. Additionally, Rewind Consultancy may assist businesses in preparing audited financial statements as per the IFRS. 

Speak with us about our offerings and your company’s expansion requirements.

FAQ

Who are the UAE-based ICV program participating entities?
As “Participating Entities,” the Abudhabi Department of Economic Development (ADDED), ADNOC, ALDAR, MUBADALA, Etisalat, Emirates Nuclear Energy Corporation, Etihad Rail, Shurooq, and EDGE are all organisations that have collectively implemented the In-Country Value (ICV) programme. The Participating Entities employ ICV Certificates to assess their procurement tenders.
Goods and services are procured in the ICV program to boost the UAE’s GDP diversification. Additionally, the Programme will increase Emirati employment possibilities in the private sector and the localisation of crucial value chain components for specific industry categories.
ICV Scores are determined by evaluating the economic value added for the entity’s goods or services within the nation based on a predetermined process. The following factors are taken into account to determine the score, which is expressed as a percentage:
  • Emiratisation 
  • Products produced
  • Money spent by third-party investments
  • Increased exports, Emirati employment, and investment
If they fulfil the program’s requirements, overseas enterprises can get ICV Certification in the United Arab Emirates. International businesses need to adhere to the same ICV standards as domestic businesses. International businesses must also compute their ICV score per these standards and then submit the result for evaluation to ADNOC.
The following criteria are used by the certifying bodies to establish the costs.
  • The nature of the facility: commercial or industrial
  • The company’s capacity to put in place an integrated accounting system
  • The size of the business (small, medium, and large) as determined by the annual income, expenses, and workforce

Book A Free Consultation

Book and let us know what you need. Our experts know how to deliver the best.