Anti money laundering in UAE is now a vital safety measure for companies functioning in the modern global economy. With the support of stringent laws and enforcement, anti-money laundering in the UAE guarantees that businesses safeguard themselves against financial crime, fraud, and reputational hazards. AML consultants in Dubai offer customized plans and AML UAE audit … Continued
As businesses expand globally, they must comply with various accounting standards. In Dubai, companies must follow either the International Financial Reporting Standards (IFRS) or the United Arab Emirates Generally Accepted Accounting Principles (UAE GAAP) to ensure transparent and accurate financial reporting. Thus, understanding the differences between IFRS and GAAP is crucial for companies operating in … Continued
Annual audits are an essential regulatory obligation for both Limited Liability Companies (LLCs) and businesses operating within Dubai’s free zones. Strict reporting standards must be adhered to by both LLCs and free zone companies to ensure financial transparency and compliance with regulatory guidelines. For LLCs, the mandatory annual audit is a requirement under the UAE … Continued
Audit firms in Dubai are responsible for ensuring the accuracy of a company’s financial statements. Financial statements are audited to ensure that there are no major misstatements, whether from fraud or mistake. The Dubai Audit Authority (DAA) is responsible for policing the audit profession in Dubai and ensuring that audit firms there adhere to international … Continued
It is essential for small businesses in Dubai to comply with International Financial Reporting Standards (IFRS). However, preparing financial statements in accordance with IFRS is often a complex task for corporations. Thus, it is advisable for businesses to seek the services of accredited audit firms in Dubai to seamlessly implement IFRS standards and stay compliant. … Continued
IFRS 16 has been effective for some time now. And companies including audit firms in Dubai are numerous questions regarding its implementation. This guide will highlight some common issuers company audit teams face when implementing the IFRS 16 leases. Identifying leases IFRS 16 describes leases as part of a contract, which gives the right to … Continued