The In-Country Value (ICV) Program, championed by the Ministry of Industry and Advanced Technology (MoIAT) and entities like ADNOC, is the single most critical factor for securing government and semi-government tenders in the UAE. The ICV Certificate quantifies your contribution to the local economy, giving high-scoring businesses a mandatory competitive edge in the procurement process. A low or zero score can lead to immediate disqualification from major bids.
FrankDigit Accounting Services specializes in the mandatory ICV Audit and coordination process. We ensure your foundational IFRS-compliant financial statements are accurate, your ICV Template is optimally calculated, and all documentation is verified by an MoIAT-Authorized Certifying Body. Our commitment to Confidentiality, Transparency, and Integrity (CTI) safeguards your eligibility and enhances your long-term commercial prospects.
The In-Country Value (ICV) Certificate is an official score (represented as a percentage) that measures a company’s investment in the UAE economy across several key factors. While not universally mandatory by law, it is a prerequisite for bidding on contracts and tenders with all Participating Entities (government, semi-government, and large corporations). The certification process requires an independent audit by an approved ICV Certifying Body to validate the reported data.
The goals of the ICV Program are to drive economic diversification, enhance local supply chain reliance, and promote Emiratization (hiring UAE Nationals). The certificate is typically valid for 14 months from the date of the underlying audited financial statements.
We manage the entire ICV lifecycle, turning your operational data into a powerful commercial asset.
| Delieverable | How FrankDigit Delivers |
|---|---|
|
Financial Statement Review |
Vetting your IFRS-compliant audited financials (must not be older than 2 years) as the mandatory base document for ICV calculation. |
|
ICV Template Preparation |
Accurate completion of the official ICV template, optimizing declared figures across local spend, investment, and Emiratization. |
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Certifying Body Coordination |
Acting as the liaison between your business and the MoIAT-Authorized Certifying Body to manage queries and expedite the verification audit. |
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ICV Score Optimization Advisory |
Providing strategic guidance on increasing your score through local procurement and investment in the UAE supply chain. |
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Annual Renewal Support |
Proactive monitoring of the certificate’s 14-month validity and managing the timely renewal process with fresh audited financials. |
The ICV process is a meticulous reconciliation exercise where data inconsistencies can lead to rejection and lost opportunities.
audited financial statements are prepared by a licensed auditor, follow IFRS, and accurately reflect the figures used in the ICV template. For new companies (less than 10 months old), we prepare compliant management accounts to enable provisional certification, ensuring eligibility is not delayed.
While direct financial penalties for not having a certificate are rare, the commercial and regulatory consequences of failure are severe. Submitting inaccurate data or making a false declaration can lead to the rejection or withdrawal of the certificate, potential blacklisting from future government tenders, and increased scrutiny by MoIAT. Our rigorous process ensures every figure related to local manufacturing, investment, and procurement is verifiable.
We turn the ICV requirement from a compliance challenge into a strategic business enabler.
- Decode (Readiness Assessment): We perform an initial review of your operations against the ICV formula and identify the core metrics (e.g., local supplier spend, Emirati headcount) that require immediate improvement or detailed documentation.
- Simplify (Audit & Verification): We prepare your IFRS statements (or coordinate with your external auditor), meticulously fill the ICV template for maximum score, and submit the complete package to the Authorized Certifying Body.
- Automate (Certification & Strategy): We liaise with the Certifying Body until your ICV Certificate is issued, then provide a post-certification strategy for continuous score improvement and access to key public tenders.
Is your business missing out on high-value contracts? Secure your competitive edge with certified ICV compliance.
📞 Contact FrankDigit Accounting Services today to start your ICV Certification process.