Liquidation is the winding-up of an organisation where the management sells all the assets of the business and distributes them among the shareholders of the company. The company liquidation typically occurs when a limited company has reached a point where for one reason or another, it has is decided by the board of directors and […]
Value Added Tax (VAT), considered an all-purpose utilization tax, is levied on the mainstream businesses in supplies/goods and services. It is advised to consult a VAT consultancy service in the UAE to pursue business within a legal framework. VAT Intimations on Corporations Companies involved in business or trade are accountable to carefully document certain features […]
The UAE is one of the leading business hubs in the world. Accounting and bookkeeping services are of significant importance for any business firm irrespective of its size and demographics. Many businesses fail to survive the competition and thrive mainly due to two reasons. The inadequacy of- Timely or pivotal or accurate reports Confidential accounting […]
The importance of auditing can be overstated. A professional auditor not just clears all your issues, but also helps in improving your organisation. An auditor’s statement provides an opinion on the reliability and validity of a company’s financial statements. What is an Auditor’s Report? An auditor’s report is a written letter from the auditor containing […]
Payroll is a significant business expense and is subject to various procedures and regulations, so every business must ensure that the payroll process is 100% precise and reliable. Personnel need to be able to rely on being paid the correct and agreed amount and on a steady basis. Payroll affects every aspect of a company […]
The United Arab Emirates is a league of seven emirates, with local governments and the autonomous emirate. When the countries like Libya, Syria, and Egypt were withstanding some severe turbulence, the federation of seven emirates was considered a safe playground for the investors since the beginning of this century. Businesses have grown seamlessly in the […]
In an announcement followed by the introduction of the VAT regime in the UAE, the Federal Tax Authority (FTA) revealed a list of suppliers across the country’s various sectors to be subject to VAT. In addition, FTA also disclosed the list of supplies that apply to zero-rated tax. Some of the government activities and supplies […]
The VAT has already been implemented by the UAE government on the supply of taxable commodities, goods and services set up from January 01, 2018. The Federal Tax Authority (FTA) can audit the companies that are required to pay taxes to determine their tax compliance. To keep abreast with the era of the tax system […]
Auditing is providing comfort over the accuracy of management accounts or unrolling systematic errors occurring throughout the year. At the end of the year, an audit is critical to decision making for an organization placing reliability on management information (Read the need of internal audit). The whole process through which an audit is undertaken challenges. The […]
Fraud and risk management are of significant importance for companies in today’s global marketplace. Many companies (UAE-based and international) are losing a part of their annual revenues every year due to these risks and frauds being committed. First, let us understand what fraud is. What is Fraud? So, what is considered fraud? Fraud is a […]
