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What is ICV Certification process in Dubai, Abu Dhabi, Sharjah, UAE and how is it executed?

  • August 10, 2020
  • 3 min read

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ADNOC has launched the In-Country Value (ICV) program. The ICV certificate program aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector. An ICV certificate in Dubai, UAE is mandatory for each legal entity.

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 population of the ‘Supplier Submission Form’ given by ADNOC is dependent on the last evaluated financial statements. The step can substantially increase the chances of a satisfactory ICV certification in Abu Dhabi, UAE.

  • 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 awarding of ICV certification.
  • 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 in Dubai, UAE ends with form validation.

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

  • Initiation and Mobilisation

Initiation of the engagement with meeting with the stakeholders and the timeline will be set for performing certification. The meeting discusses every detail of ICV Certification in Abu Dhabi, UAE that helps in making a satisfactory decision.

  • Understanding the information

Analysing current practices and making a detailed report. The company must conduct a holistic analysis of current practices adopted by the management in each field of the organization. The report compiled needs to contain all the broad points to gain a better understanding.

  • Review

The company must review the information populated in the Supplier submission form. The step uses sample selection & testing to perform a complete and satisfactory review of the information previously generated in the process.

  • Certification

It helps in finding potential errors and risks, grading the draft, and discussing findings with management.  The process ends with a closing meeting to discuss the certification process.

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Related Articles:

What is ICV Score?

Who are ADNOC ICV Consultants or Auditors?

ICV templates instructions for ADLC program

What is ICV Certificate Validity?

Impact of the ICV on Business with ADNOC

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