Jebel Ali Free Zone Authority (JAFZA) is a significant economic zone in the UAE. Top Auditing Firms in JAFZA offer corporations top-notch auditing services in full compliance with the set laws and regulations. Auditing is compulsory for all JAFZA corporations. JAFZA bids the following business licensed activities: Conducts service activities Conducts trading activities Carries out … Continued
Sometimes you have to purchase land with obstacles. These are old structures such as roads and buildings. but do you pay for the removal of these obstacles? And how do audit firms in Dubai usually capitalize on demolition costs in regard to IFRS? Today’s article answers the question “What companies in Dubai, UAE with the … Continued
The International Organization for Standardization is a leader in developing standards across industries. This helps to ensure that our products and processes are safe, efficient, and sustainable. ISO certification is available for numerous standards, such as ISO 27001 2015. An ISO Audit is beneficial to UAE companies. In this article, we are going to define … Continued
Most Dubai audit services make a lot of estimations in financial statements. Of course, they change depending on the circumstances and information that change and evolve. The IAS 10 standard provides direction to company audit specialists how to handle events that happen after year end reporting date ( after financial reporting) and how the financial … Continued
The COVID-19 pandemic radically altered Dubai, UAE business models. According to Gartner’s 2021 Gartner report, 41% of remote employees plan to work remotely in 2020. These changes in the worldwide workforce pose new security risks. Regular security audits can provide a clear picture of organizations in UAE cybersecurity risks and prepare you for security threats … Continued
The guidelines for capitalizing borrowing costs in IAS 23 and US GAAP relate closely at an extreme level. But, there are still noticeable differences that Audit firms in Dubai and other entities should know before choosing a standard to use. In this article, Audit Firms in Dubai highlight some crucial differences. US GAAP focuses in … Continued
RERA considers all Dubai properties owned or managed by an Owner’s Association. They are required to collect service fees from residents. For maintenance services, these fees are charged by the facility management company to owners associations. Dubai’s RERA requires that all fees charged to facility companies be audited in order to verify that the service … Continued
A collaboration between the Financial Accounting Standards Board and International Accounting Standards Board produced IFRS 15 – Revenue From Contracts with Customers – and ASC 606 – Revenue from Contracts With Customers. IFRS 15 is identical to ASC 606, with minor differences. The collaboration was initiated because of multiple accounting revenue recognition standards, which led … Continued
For accounting and financial services, revenue is not the only IFRS to think about – there are also financial instruments under IFRS 9 to think about. Contrary to popular belief, IFRST 9 affects various accounting services in Dubai and the UAE. A company in UAE could face a lot of changes in its financial reporting … Continued