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Who Perform ADNOC ICV Audit?

To save time and ensure accurate evaluation of ICV scores and certificate, ANOC attributes the responsibility of ICV audit to the firms who can perform with expertise.

Audit and accounting firms are specialized to analyse the items of audited financial statement of the suppliers and crosscheck with the items included in their ICV audit submission forms.

ADNOC has authorised some audit firms in the UAE who will be responsible to:

Act as Certifying Bodies for ADNOC's ICV program.

Perform ICV audit annually for each supplier (New & Old)

Renew the ICV certificate of business organisations.

What are the factors ADNOC's ICV Auditors considers?

ICV auditors consider the following items while determining ICV for a particular business organisation in the UAE:

Cost of prod cuts manufactured or services delivered by the suppliers
Cost of services or material procurement by the suppliers.
Expenditure made to the third party to services/goods acquisition.
Cost related to Emiratization and contribution on expatriates.
Exports
Investment
Bonus

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