Auditors in UAE

Your accounts must be accurate and up to date. Just like a healthy diet makes a person healthier, and healthy back office formalities can help a business to look better and successful. So if you have been procrastinating on making a move to accurate accounting procedures, here are some ways accounting can help boost your business value. Better Marketing- Accurate and systematic accounting helps you make better revenue estimates for your business. Revenue forecasts not only used for budgeting and future planning but also used to help comprehend whether your present marketing efforts are working, or whether they are missing the mark.   Create & Control Budgets - Accounting helps business owners generate and control company budgets. When you identify how your cash is coming in and going out, you are better armed to monitor business budgets. A company without budgets is like a ship drifting at the ocean without a captain; accounting safeguard your business isn't headin...

What is VAT? VAT refers to Value Added Tax that imposed on taxable business owners on the import and also on the supply of Goods and Services. The companies can collect tax from the customers and make the payment to the govt. in the form of VAT returns. Hence the government can produce the refunds for the VAT paid to the traders by the firms. Each business whose taxable supplies and imports exceed AED 375,000 every year are compulsorily required to get their business registered for VAT. The Federal Tax Authority offers the option to the businesses whose taxable supplies exceed AED 187,500 whether to register themselves or not. VAT registration in the UAE is an online process which is available within the Federal Tax Authority’s online portal. Before proceeding for VAT registration, the candidate should decide whether to register as a mandatory option or a voluntary option or, as a standalone or a tax group, etc. RELEVANCE OF VAT CONSULTANCY SERVICES FOR YOUR BUSINESS IN THE UA...

Internal audit service in UAE is the dynamic profession involved in helping companies to attain their business objectives and goals. Internal audits play a major role in the smooth operation and firm success in the enterprise. Internal audits carried out with a very focused and strategic approach, are useful in determining the critical, and risk zones. The certified internal auditors in UAE perform the internal audit to meet the management requirements of information. Risk assessment and management are amongst the first concerns for each firm. Internal auditors address these concerns and deliver objective support in design, implementation, and operation. Reasons Why Internal Audit Services Are So Essential Provides Objective Insight - To bridge the gaps by firming the internal controls and to achieve organizational objectives. Increases Efficiency of Operations - Internal audit periodically reviews the organization's policies and procedures. These processes aid in mit...

What is Company Liquidation? Company liquidation is the process where a company decides to close down or wind up its business operations as it can no longer continue the operations. When the operation of the company ends, usually they sell their assets so that they can settle their liabilities/debts/obligations. When a firm is being liquidated in the UAE the properties and assets are distributed to the creditors, shareholders of the company. Based on the commercial law of UAE, liquidation of the company should be done or must be liquidated and deregistered in the following cases (one case only is enough for liquidation of the firm):-  When the majority of the shareholders of the company decide to liquidate the company.  When there is a court decision to dissolve and wind up the business operations of the company.  When the company is going through insolvency, which reasons accumulated loss that is bigger than half of the authorized capital.  Volunta...