National In-Country Value (ICV) Certification is no exception to our premiere certification services.
We offer trusted and approved ICV Certification services in UAE.
In the UAE, an In-Country Value (ICV) Certificate is essential for government and ADNOC tender submissions. The In-Country Value (ICV) Program’s primary goal is to diversify the UAE economy by localizing more goods and services, expanding employment opportunities for UAE citizens in the private sector, and localizing key functions in various industries. Under the direction of the Ministry of Industry and Advanced Technology (MoIAT) 2021, the Program was subsequently implemented at the national level.
Under the National In-Country Value (ICV) Program, certifying bodies in the UAE offer issuance of ICV Certificates. Further, the program extensively enhances the ICV Score of companies through workforce Emiratization, growth, and local investment. Audit firms in the UAE highly ensure that companies are geared up to submit pre-audited financial statements, as an essential requisite to obtaining the National In-Country Value (ICV) certification. Under the ICV program, Audit firms in the UAE essentially ensure that companies are fully compliant to the set ICV regulations and standards.
The ICV certification program was designed to accomplish the following main goals:
An organization’s ICV certificate establishes a contractor’s or supplier’s In-Country Value contribution to the UAE economy. An ICV certificate may give suppliers and contractors a considerable edge over competing businesses during the bidding process.
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To get an ICV certificate in the UAE, the MoIAT has created a simplified process. The top ICV certification service providers in Dubai can advise Suppliers on the procedure. To receive the ICV certificate, the basic procedures listed below must be followed:
ICV score has now become a crucial component of the ADNOC bidding process. All ADNOC vendors must submit the supplier submission form and contact an ADCOC certifying body for an ICV certificate.
The ICV certificate is only available in the UAE through ICV-accredited auditors or audit firms. Only the audit report of an entity provided by an authorized external auditor or audit firm from the government of the UAE will be used by the ICV auditor or audit firm to issue the ICV certificate.
Professional guidance is highly essential to efficiently complete the complex process of obtaining an ICV certification in the UAE. Apart from submitting the audited financial statements and completing the MoIAT-required supplier submission form, suppliers must also adhere to several other standards. We are a top-notch ICV certification service provider in the UAE, we efficiently assist suppliers to maintain full compliance to the set ICV laws and regulations. Further, we have an expert team of auditors and accountants that can effectively execute the Template Filing criteria. Creation of audited financial accounts in compliance to International Financial Reporting Standards and offering expert ICV advice to organizations is no exception to the list of premiere services offered by Farahat & Co. Contact us today and we shall be happy to assist you!
The Company’s value addition to the UAE economy is reflected in the ICV Score. The following factors are taken into account in order to reach the Score, which is expressed as a percentage:
ICV Implementation and ICV Certification are the two components that make up the In-Country Value program.
To get an ICV certification, all suppliers are highly urged to undergo the ICV examination and certification procedure.
