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Know More About ICV!

The UAE has succeeded to become one of the leading commercial hubs that attract investors from all across the world. The UAE government has been putting all its efforts into improvising and enhancing investment opportunities. The government has advanced itself in plans that help lift local industries and abridge supply chains. One amongst numerous other plans is the ICV, mostly known as the In-Country Value Addition Program. Today, we Adepts Chartered Accountants are here to help you understand the specifications of ICV certification. 

What Is An ICV Certification?

If you are uninformed, let us break it to you ADNOC introduced ICV or the In-Country Value Addition Program for all its suppliers. The aim behind it was to help boost the authority’s ICV contribution by depending on local suppliers to produce. They understood that the localization of numerous critical functions and operations within the oil and gas industry boost the national economy. Post this plan, ADNOC decided that all suppliers would have to report their ICV scores. To help calculate this ICV score, companies need to connect with a suitable ICV auditor. Here is one more thing that you must know, such certification must come from a member of the ADNOC ICV approved auditors list.

What Is The Need To Opt For An ICV Consultant?

There is no repudiating that businesses are busy providing services and products to their clients as their core competence. It can be hectic for them to manage all at once, and therefore- they need a professional ICV Consultant. If you connect with Adepts Chartered Accountants, we will ensure you receive certification timely and accurately. Our auditors will help to resolve the limitations within the system and identify errors if found. Adepts Chartered Accountants will appraise all the processes undertaken by your organization and try to identify internal controls problems. After identifying the problems- the auditors will look for measures to control the same. Hiring an ICV auditor is a must as it will help businesses verify that they aptly comply with the ICV guidelines. After all, an ICV certificate is essential to demonstrate that the score they provide for tenders is honest and apt.

If you need an ICV auditor, connect with Accounting Firm. We are renowned for providing our clients with highly effective, secure, and custom-made services. Our team will efficiently cover every accounting and auditing need your company will ever have!

November 15, 2021, 11:29 am

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