An organization’s internal controls, risk management procedures, and governance practices must be evaluated and improved based on the findings of internal audits. To enhance operational effectiveness and reduce risks, internal auditors conduct in-depth studies and offer sage advice. We’ll examine the main goals of the internal audit Dubai process and talk about how important they … Read more
Introduction: To maintain your finances honest, adhere to the law, and enhance the overall functioning of your business in the UAE, you must select the best audit services provider. Businesses must work with reputable audit firms in the United Arab Emirates (UAE) to ensure accurate financial reporting and risk management. This blog post discusses … Read more
Introduction: A statutory audit is a mandatory process that ensures compliance with legal and regulatory requirements, provides assurance to stakeholders, and enhances financial transparency. Adequate preparation for a statutory audit is crucial to ensure a smooth and successful audit experience. In this blog post, we will discuss essential steps to help you prepare for a … Read more
A statutory audit, also known as an external audit, is an independent examination of acompany’s financial records, statements, and accounts. It is conducted by a qualified externalauditor who is appointed by law or regulation to ensure compliance with statutory requirements.The purpose of a statutory audit is to provide an objective and unbiased assessment of thecompany’s … Read more
Dubai Financial Market (DFM) is governed and regulated by the UAE Securities and Commodities Authority (SCA) which has the authority to impose laws and standards which DFM must comply. Two main financial securities exchange markets operate in the UAE under the Securities and Commodities Authority (SCA): Abu Dhabi Securities Exchange Dubai Financial Market Both markets … Read more
Every business is vulnerable to fraud. That’s largely because there are so many different kinds of fraud that you don’t think will take place. Globally, organizations lose an estimated 5% of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners. It’s an employer’s worst nightmare, an employee is dissatisfied with … Read more
Benefits of having Registered Auditors: It is essential today to understand the financial numbers of the business. These financial numbers can be obtained by performing audits in a company. An audit helps to find out various loopholes of the company through a thorough inspection of the book of accounts. Registered Auditor A person or group … Read more
Audits are thorough examinations of all books of accounts of a company and are an integral part of every business. Many think of audit performance as an obligation but truly it is more than just an obligation, it helps the business in many ways. Audit adds value to a business in the following ways Improvement … Read more
A tax audit is conducted by the Federal Tax Authority (FTA) to examine the tax liability of a business covering the VAT Laws and Excise Tax laws. Under law no.7 of the federal Decree-Law, a registered organization is responsible to comply with the tax laws laid by the authority. Here, all the processes fall in … Read more
Companies today opt for a leaner budget where outsourcing helps them by reducing headcount. We have listed five reasons why it’s better to get external assistance on accounting and tax. Cost Reduction Most companies make the error of hiring too many junior accountants for low wages and convenience. This risks them as they may not … Read more
