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
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
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