Auditors in UAE

  WHY IS AUDITING SO IMPORTANT in UAE? While public companies and large proprietary companies are legally required to have their financial statements audited, the same doesn’t apply to smaller, private businesses. However, there are times when it is desirable, and sometimes mandatory, for a small or medium enterprise (SME) to undergo an audit. There are some benefits for an SME to get an audit, such as demonstrating consistency and objectivity in financial reporting and establishing a clearer view for planning future business activities. What is an audit An audit is an examination of the annual financial records of an organization. It is conducted by an independent person who must follow the standards established by the Auditing and Assurance Standards Board. It’s a detailed process that includes talking to management, testing internal controls, and examining a sample of financial transactions. The purpose of the audit is to form a view as to whether the financial report accurately...

Among the most crucial parts of doing business locally& globally is the auditing of accounts. And auditing has now become a necessity for all businesses, large & small. An audit enables enterprises to confirm that they are working with well-known organizations & to demonstrate to prospective partners or shareholders that they are reliable partners. The United Arab Emirates is well-known as one of the world's most important business hubs, where people come together to trade services & goods. Because the UAE financial rules are strictly controlled, participants from all over the globe find it to be a fair, pleasant, & successful business environment. Who Can Audit In Dubai? Small, medium, & large enterprises with operations in Dubai can hire a qualified financial auditor to conduct audits. Financial auditors must be able to communicate, have a good understanding of the company's context & dangers, and provide complete transparency while conducting a...

Every firm needs auditing & bookkeeping services in order to keep track of its financial operations. The importance of auditors & accountants is growing all the time, right from the beginning until the end of the enterprise. Accounting & auditing firms in Dubai can help you make smarter financial decisions & run your business without stumbling blocks. When these services are provided by expert accounting and auditing companies in Dubai , businesses have a higher value in their niche industry. If you are a business entrepreneur and want to know the major benefits that your business will obtain when you hire the services of the best auditing firms in Dubai, then please go through the following points: Keeping the Company on Track One reason for hiring professional accounting services in Dubai for your company is that you'll be able to keep track of all of your financial activities. They may help with bookkeeping & managing corporate improvements in the ...

Auditing has become a necessary component of any business, large or small. Being a component of one of the country's major industrial centers means being a part of Dubai's business community. This increases the need for your accounting to be financially correct and audited successfully. Any company can only be successful if its records are correct. The correctness of the records is ensured by annual accounting and statutory auditing done by professional auditors. The accuracy of a company's financial records is ensured by   top audit firms in UAE , who follow all standards, instructions, and regulations. There are many audit firms in Dubai, and deciding which one is ideal for your organization might be difficult. Your job is to select an auditing firm that can have a big influence on your business and certify that your finances are well-managed since this decision could make or destroy your company. "Audit" is a procedure used by auditors to examine a company...

VAT procedures in the UAE are regulated by Federal Law No. 17 on Tax Procedures, generally known as the Tax Procedures Law. On September 16, 2021, the UAE Cabinet enacted Federal Decree-Law No. 28 of 2021, which changes various aspects of Federal Law No. 7 of 2017 on Tax Procedures (Tax Procedures Law). The modifications were implemented on November 1, 2021. There were some significant modifications to the time restrictions for submitting reconsideration petitions, appeals to the Tax Dispute Resolution Committee challenges to FTA rulings, the time period for filing an appeal with the courts, and so on. The following are the important highlights of the amendments: Extended Timeline for Applying For VAT Reconsideration Businesses in the UAE have the right to request VAT reconsideration after 20 business days of being notified of the judgment under previous provisions of the Tax Procedures Law. Whereas now, according to Article 27 (1) of Federal Decree-Law No. 28 of 2021, businesses n...

Running a firm can be very challenging at times. You can perform your own accounting at the start, but it can be more challenging as your business continues to expand. So, you’ll need to hire someone to manage your company's finances and taxes.  Also, to provide you with valuable guidance as you focus on growing your business. Given below are certain signs that may state that it may be time for you to turn to outside help in handling your company's finances. Experiencing Rapid Growth Every business owner hopes to reach this level of success, but rapid growth means quickly addressing new demand. To fulfill the demand, more people, more commodities, more internal processes, and leadership that focuses on staying ahead of the expansion are all required. All of this involves extra paperwork & calculating figures, so having someone on hand whose primary function is to keep the accounts in order is helpful.  Paying a Lot of Taxes As your company in the UAE grows, yo...

Are you thinking about  how to hire the right accountant or  how to find a good chartered accountant ?  Actually, choosing the right one is extremely important because it will be working with you for a few years. It's not just about the numbers, it's also about understanding your business needs and knowing how to help you reach your goals. There are many things to consider when picking an accounting company. After all, you want to be sure that you and your business's financial needs will be fully met by the firm you choose. You want to make sure that the firm you end up choosing is going to meet your needs and is reliable enough for your business. Given below are ten factors that will help you narrow down your choices and find things to  choose a CPA firm  that will work best for your business.  1.   Level of Service The services offered by the certified accounting firms in the UAE should be clearly understood by the business owners. In the context of...

Money management is one of the most difficult aspects of any business. This necessitates the help & support of top UAE accounting firms who can direct them along through the accounting process. Auditing entails a lot of work, such as payroll, auditing, accounting, tax planning, and so on. Are you looking for the best accounting firm in the United Arab Emirates ? Look no further because ARC Associates, Dubai, is your ideal partner for professional accounting assistance. We have a team of certified Chartered Accountants and Accounting professionals with over 35 years of experience in Audit, Accounting, Financial Advisory and Consulting Services. We are a leading auditing firm in the United Arab Emirates, with offices in Dubai, Abu Dhabi, and Sharjah. Our professional accountants have a wide range of experience dealing with clients from all over the UAE. We can guarantee that we can steer our customers on the correct track to enhance their overall organizational performance using ou...

Trademarks have entered every industry & economic area. In the current day, not getting a trademark is similar to not having a name. A trademark functions as identification & is associated with a grade & prestige level. Trademarks are often logos, phrases, letters, figures, numbers, seals, symbols, or a combination of these to represent a business or organization. A trademark's principal aim is to differentiate an organization as well as its goods & services. This is done to link certain products & services with a company. Trademarks help to build brand loyalty & increase consumer retention. The popularity of a trademark determines its power. The level of public knowledge measures the extent of goodwill. The government has established a registry known as the trademarks register. This registry contains details of all current trademarks, names, addresses, & the types of activity of the holders, descriptions of goods, services, & products, & whethe...