A Virtual Assets Regulatory Authority (VARA) audit refers to an evaluation that includes a review of a firm’s financial documentation, business activities, and regulatory standing to ensure compliance with the rules established by the Virtual Assets Regulatory Authority in the UAE. This audit is particularly relevant for businesses engaged in activities related to virtual assets, … Continued
Obtaining a Virtual Asset License in the United Arab Emirates, especially in Dubai, is an essential process for every enterprise that is willing to act within this actively growing industry related to cryptocurrencies and blockchain. It is quite time-consuming, but once somebody tries to accomplish it, then it seems quite easy and uncomplicated. Also read: … 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
Auditing is an essential facet for businesses. Conducting audits for the government sector requires a unique set of skills, processes, and immense knowledge on the part of the auditor to ensure accuracy and adherence to relevant laws and regulations. Thus, it is advisable to seek the services of accredited audit firms in Dubai (AFD) to … Continued
Among the developing landscape of Public Joint Stock Companies, compliance with statutory audit requirements is important. AFD plays a key role in ensuring transparency and compliance with regulatory standards within these enterprises. What are the Key Audit Requirements for Public Joint Stock Companies? Public Joint Stock Companies (PJSCs) run within a strict regulatory framework defined … Continued
Internal audits are essential for every organization, but their importance is amplified in manufacturing companies. Manufacturing involves complex processes, stringent regulations, and substantial resistance, making effective internal auditing even more vital. Also read: Audit Criteria In Internal Audit This process ensures operational efficiency, regulatory compliance, and ongoing improvement. This article will address conducting an internal … Continued
DMCC, a reputable Free Zone, is a beacon of growth and opportunity in the international business domain, boasting over 19,000 registered companies. The Dubai Multi Commodities Centre has implemented a compliance program to ensure adherence to the best practices and regulations in Dubai. It provides physical, commercial, and financial support to all trading companies. Here … Continued
Banking Sector audits, also known as financial sector audits, are considered more challenging than regular companies. After all, a bank audit implies verification and reporting of institutions responsible for setting compliance and financial advisory benchmarks in the financial market. A bank audit in the UAE is one of the most complex audits for banks in … Continued
The audit report is an essential aspect of running any organization. It helps businesses to determine the integrity of reported financial information. It contains the auditor’s opinion, a formal conclusion from an auditor that provides a detailed overview of a company’s financial standing, and an auditor’s specialized assessment of the finances. An audit report is … Continued