As per Article 27 of Federal Law No (2) of 2015 or Commercial Companies Law, businesses are to retain at least one auditor to audit accounts every single year. Shareholders or partners are also to obtain audited financial statements and audit reports from auditors in the UAE. Article 236 also stipulates accounts of a company … Continued
An audit is the examination and verification of a company’s financial records to ensure accuracy and fair representation. Your organization must undergo external audits conducted by AFD to ensure that its processes, systems, and documentation are still appropriate and, most importantly, beneficial to the organization. Essentially, an external audit examines the compliance and financial performance … Continued
The businesses in the UAE require investors to invest their money, and banks leverage costs by lending money without any hassle. It forms an essential aspect of the business. Internal audit and risk assurance services provided by the Audit firms in Dubai help businesses achieve these specified business goals. Why consider an internal audit? Businesses … Continued
Audit firms are essential in maintaining the economy’s financial integrity and transparency. The United Arab Emirates Commercial Companies Law, Federal Decree-Law no. (32) of 2021 on Commercial Companies, requires businesses operating in the UAE to appoint authorized auditors for annual audit reports. Audit firms in UAE assist corporations in preparing complete and accurate financial records … Continued
The (FCJ) Federal Customs Jurisdiction, under the directive of the UAE government, now has the power to inspect customs and salable documentation related to import activities. The authority for tax-paying initiatives to bring into line with these guidelines has never been more serious. In this article, we will see the businesses with the understanding to … Continued
IFRS 16 applies to annual reporting periods that begin on or after January 1, 2019. However, earlier applications are permitted, provided Audit firms in Dubai and other users of financial statements also use IFRS 15. What is IFRS 16? IFRS 16’s purpose is to help UAE company audit specialists accurately represent lease-based transactions and support … Continued
NGOs, or non-governmental organizations, are independent entities that operate primarily through public donations to achieve their charitable goals. These organizations are compelled to maintain transparency and accountability and it can be achieved through preparing comprehensive financial records and statements that reflect performance and demonstrate transparent use of funds. The audit process involves an in-depth review … Continued
Cost Audit is a very important tool that can be used by the management to understand the present situation of the business and will also help in ensuring that the business is adhering to the procedures which are to be followed. In this article, Audit in firms in Dubai and UAE will try to explain … Continued
Financial statements produced in accordance with International Financial Reporting Standards (IFRS) must identify parent-subsidiary relationships or when one business administers another. A party’s reported results, cash flows, and financial position, as well as the operations that are both “on” and “off” the firm’s balance sheet, are all impacted by the controlled assessment, which decides which … Continued