The ICV program's goal in the UAE is to encourage economic growth, job creation, and the development of local industry. As a result, in order to reap the benefits of the program, businesses must get an ICV certificate. In such cases, businesses seek ICV consultancy in Dubai through which organizations can optimize their operations, strengthen their local presence, and contribute to the UAE economy's long-term growth.
Our ICV consultants in UAE assist small and medium-sized businesses by providing national/international exposure and collaboration to help your firm grow and expand. It promotes financial advancement, and BMS Auditing provides the greatest services in Dubai for overcoming any impediments to your company's success.
Objective of ICV consultancy services in UAE
The objective of ICV consultancy in UAE is to assist organizations in effectively navigating and complying with the ADNOC's In-Country Value (ICV) program. ICV consultancy in Dubai combines consulting, implementing ICV program, auditing, and maintaining ICV scores to obtain ICV certification for businesses.
Obtaining an In-Country Value (ICV) accreditation in the UAE has become one of the most important parts of running a successful business. The National ICV Certification programme allows suppliers to win tenders from government and semi-government bodies.
Our ICV consultancy services in Dubai, UAE help small and medium-sized enterprises grow by providing national and worldwide exposure. Furthermore, it helps in the creation of a suitable set of circumstances for UAE nationals working in the private sector without any legal concerns.
ICV certification was discovered to be crucial for ADNOC vendors. It checks the vendors' given information with its team/panel of independent certification agencies. The primary goal of ADNOC is to validate supplier information in order to assure the legitimacy and reliability of ICV certifiers.
In addition to that, as an ADNOC approved certifying body, BMS Auditing provides ICV consultancy services in Dubai to assist your firm in obtaining ICV certification in order to benefit from growth and prosperity.
ICV Consulting in UAE
As a top ICV Consulting provider with talented ICV consultants in Dubai, we have a slew of features that make ICV certification a breeze. Our ICV consulting services include the following:
ICV Consultancy
If your company is still not ICV accredited, BMS Auditing in Dubai can help. Our ICV specialists address all of the obstacles that prevent you from achieving ICV certification. We have skilled ICV consultants who try to alleviate your concerns and help your business flourish.
ICV Certification
We assist you in obtaining ICV certification for your business or enterprise. As a result of GDP diversification and new shifts, things have taken on a new dimension. We assist you in determining the most appropriate solution to support your business or enterprise.
ICV Audit
A few other things are involved in the creation of the ICV Certificate. It requires the most recent audited financial statements that have not been more than two years since certification. Furthermore, it is valid for 18 months following the issuance of a financial statement. Hence, we also provide ICV audit services in UAE.
Implementation of the ICV Programme
The most important aspect of ICV certification is the implementation of ICV programs. We have ICV-certified professionals who use their experience to implement all of the features that have been decided.
Plan for ICV Improvement
Our ICV consultant services not only certify your company but also look after the aftereffects and assist you in finding the best solution. In other words, we constantly provide our clients with the best services to ensure that their desired results are not compromised. We design an ICV improvement strategy in order to work methodically towards better inferences.
ICV Score Maintenance
ADNOC requires a company to get the ICV certification. It also necessitates the evaluation of the ICV score for the recognition of the company's goods and services.
A company having ICV certification has a higher score than a company that does not have ICV certification. The following are the main points:
- To acquire accurate results, ADNOC suppliers analyze the supply chain and enhance ICV scores from their suppliers. ICV certification will be issued within two months of the financial statement's release. BMS Auditing assist you in meeting all of the requirements for ICV certification in the ADNOC.
- The ICV score is derived by focusing on the company's or business's manufactured goods, third-party spending, exports, Emiratisation, revenue, investment, and other services.
These are the fundamentals of our services, which we provide to help your company get ICV certified and enhance its ICV score. We work by providing you with a collection of solutions that will help your firm become more stable and ICV certified.
Who are eligible for ICV Consultation?
A list of organizations that work as suppliers, directly or indirectly, with government and semi-government departments will require ICV accreditation. The following are the entities:
- Economic Development Department of Abu Dhabi
- Companies within the ADNOC Group
- Ports of Abu Dhabi
- Abu Dhabi Aldar Properties Environment Agency
- General Services Company of Abu Dhabi
- Rest of the Abu Dhabi, Dubai, and UAE Government Departments
ADNOC Approved ICV Consultants in Dubai, UAE
BMS Auditing is an ADNOC approved ICV Certifying Body to offer ICV Certification Services in UAE that assist you in meeting the requirements to become ICV certified. We take care of all the details so that your organization can apply for ICV certification with confidence. Our ICV consultants in Dubai assist businesses in understanding the ICV framework, calculating ICV scores and ensuring compliance with ICV regulations. Through ICV consultancy, organizations can optimize their operations, enhance their local presence, and contribute to the sustainable growth of the UAE economy.
FAQs
1. How long is an ICV certificate valid?
The ICV certificate will be valid for 14 months after the audited financial accounts are produced. Suppliers who want to recertify their ICV certifications can do so using the same audited financial statements as before. However, the 14-month validity period from the date of issuance will remain unchanged.
2. Who is responsible for issuing an ICV certificate?
Suppliers must appoint an accredited certification organization to issue the ICV certificate in the UAE. However, suppliers are not permitted to change certifying organizations without adequate justification in any given year.
3. How do you certify when there are several legal entities involved?
If the suppliers have several legal companies that need to be certified, the ICV certificate should be obtained for each of them. Even if the owner is the same, the government considers each license of the firm to be a separate legal entity.
4. How do you certify when there are several branches involved?
If a firm has many branches in the same emirate that perform comparable activities and have the same ownership, the MoIAT will issue a consolidated ICV certificate for the company in that emirate.
5. Is it necessary to have audited financial statements?
Suppliers must ensure that all figures recorded in the ICV certificate are consistent with the supplier's audited financial statements. Additionally, ensure that the audited financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS).
