Every business in Dubai, UAE, regardless of size or sector, needs to measure where it currently stands in the market to confirm whether it’s moving in the right direction. To get that clarity, companies commonly turn to audits for a genuinely clear picture of the business. Before commissioning an audit, a company first needs to … Continued
An audit is the examination and verification of a company’s financial records to confirm accuracy and fair representation. Your organization undergoes external audits, conducted by firms such as AFD Auditors, to confirm its processes, systems, and documentation are still appropriate and, more importantly, genuinely working in the organization’s favor. An external audit examines both the … Continued
Businesses in the UAE rely on investors putting money into the business and on banks lending at reasonable cost, both essential to running and growing a company. Internal audit and risk assurance services from audit firms in Dubai help businesses put themselves in a stronger position to achieve exactly that. Why Consider an Internal Audit? … Continued
Audit firms play a central role in maintaining the UAE economy’s financial integrity and transparency. 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 the UAE help corporations prepare complete, accurate financial records, including the balance sheet and … Continued
The integrity of financial information is essential across finance. For accurate, consistent economic reporting, businesses need to comply with IFRS (International Financial Reporting Standards) as the global benchmark for financial statements. This article explains how internal controls and IFRS-related auditing work together, and why internal controls matter as much as they do. Businesses are advised … Continued
A financial statement audit checks whether a company’s financial statements present a true and fair view of its financial position. It helps users of the accounts understand whether reported assets, liabilities, income, expenses, and cash flows are properly recorded and supported by evidence. In Dubai and across the UAE, financial statement audits are commonly required … Continued
IFRS requires that significant components of an asset be depreciated separately under IAS 16 Property, Plant and Equipment. Each significant component of an item of property, plant, or equipment is depreciated individually, though parts with similar usage patterns and useful lives can be grouped together for this purpose. This creates a real practical challenge for … Continued
The Federal Customs Authority (FCA), under the directive of the UAE government, has the authority to inspect customs and trade documentation related to import and export activity. For businesses engaged in cross-border trade, staying aligned with these requirements has never mattered more. This article covers what businesses need to understand about this regulatory landscape, how … Continued
Insurance contract accounting under IFRS has changed significantly in recent years. IFRS 4, once the globally recognized interim standard for insurance contracts, has been superseded by IFRS 17 Insurance Contracts, effective for annual reporting periods beginning on or after 1 January 2023. This article explains what changed, why it matters, and how IFRS 17 now … Continued