Blog

How to get ICV Certificate in UAE?

ICV

ICV Certificate in Dubai, UAE is the requirement of every company willing to become a supplier for ADNOC that is given by ADNOC empaneled Certifying Body. ICV certification needs to be obtained by each company, which intends to do business with ADNOC or any of its group companies. The ICV certificate program in Dubai, UAE aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector.

How does ICV certification work in Dubai, Abu Dhabi, Sharjah, UAE?

ADNOC providers are required to demonstrate how they are helping deliver In-Country Value by declaring their ICV Certificate and their guaranteed In-Country Value score in Dubai, UAE for the past financial year. Business partnerships with ADNOC include an ICV appraisal as part of the tender evaluation and award process. Suppliers should approach the ADNOC designated confirmation organization for ICV affirmation.

ICV Certification process in Dubai, Abu Dhabi, Sharjah, UAE

  • Data Population: The population of the ‘Supplier Submission Form’ given by ADNOC is dependent on the last audited financial statements. It requires several details that are present in the previously audited financial statements. The step is the first and most vital in the whole process of ICV certification in Dubai, UAE.
  • Agreed-upon procedures: The data populated in the previous stage is compared against Agreed-upon procedures. The step can substantially increase the chances of a satisfactory ICV certification.
  • Report delivery: The delivery of a Factual Finding Report based on the work carried out during the process. The report helps in identifying shortcomings within the enterprise and plays a vital role in the awarding of ICV certification in Abu Dhabi, UAE.
  • Form validation: ICV Certification will be signed and stamped by ADNOC approved bodies that will have a validity of one year from the issue date. The tedious process of ICV certification ends with form validation.

ICV Certification will be issued based on last audited financial statements, which should not be older than two years from the certification year. ICV certification in Dubai, UAE is valid for 18 months from the date of the issue or till a new set of financial statements is issued (whichever is earlier). The supplier company shall be responsible for obtaining the revised ICV certificate within two months of the issuance of audited financial statements.

For enquiries, call +971 5679 52590 / E-mail: info@aviaanaccounting.com

 

Related Articles:

What is ICV Score?

Who are ADNOC ICV Consultants or Auditors?

ICV templates instructions for ADLC program

What is ICV Certificate Validity?

What is ICV Certification process and how is it executed?

Impact of the ICV on Business with ADNOC