The term due diligence may sound like a new concept but this term has been in use since the mid-fifteenth century. Due Diligence can be explained as taking steps in order to avoid any mistake or offence. In the business scenario due diligence plays a very important role, especially has taken an essential role in […]
Auditing is an age-old procedure of understanding the position of your company. An auditor will try to analyze the performance of a company by evaluating the data produced in performing the various activities of the business. In older days, an audit comprised of systematic and regular checks to understand the present condition of the business […]
Regulatory compliance is the adherence which an organization has towards the laws, rules, policies and regulations in order to aspire and ensure that the organization is aware of the scenario and follows the rules and regulations of the particular jurisdiction. A lack of regulatory compliance can lead to many unfortunate situations with you and your […]
The United Arab Emirates comprises of many free zones which provide numerous advantages and benefits to the upcoming businessmen and entrepreneurs. These free zones act as a springboard for the budding companies and provide various benefits to the companies. One such Free zone is the Sharjah International Airport Free zone (SAIF). Sharjah International Airport Free […]
There are a number of free zones in the United Arab Emirates. These free zone not only provide particular locations for the establishment and working of various industries but also assist them in their growth and development so that they can reach their maximum potential. One of the most significant free zones is the Dubai Multi […]
Fraud can be destructive to a business, especially as financial transactions and fraud schemes are becoming more sophisticated and complex with technology developments. Acknowledging the wide variety of threatening internal and external fraud schemes, including fraud by vendors, corruption and asset misappropriation projects is essential for detecting and deterring fraud. On the authority of the […]
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 […]
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 […]
An audit report is a report that contains the opinion of the auditor, which is issued by the independent auditors after their examination on the entity’s financial statements and related reports. Those including financial statements, management accounts, management reports, and other reports like a compliant report. The format of an audit report is fixed as […]
What is Audit? The term audit refers to the examination of records, returns, and other such documents of a registered entity to verify that the turnover declared, refunds claimed, taxes paid, and input tax recovered are correct or not. What is FTA Audit File? With the same objective, the Federal Tax Authority (FTA) introduced the […]
