Auditors in UAE

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...

  As Dubai and the United Arab Emirates region reinforce their stature as a worldwide commercial hub, more international investors are rushing to the region in search of lucrative business opportunities. Moreover, where foreign-owned firms are established are critical decisions that impact a business's dynamics, operations, growth prospects, & economic development. As a result, for investors seeking freedom & liberty to establish their business operations in the UAE, a Dubai mainland business setup is recommended. Mainland corporations are the most established corporate entities in Dubai, UAE. This is regulated by Federal Law No. 2 of 2015, the New Commercial Company Law, or NCCL, took effect on July 1, 2015, & revised Commercial Company Law (CCL) that was established in 1984 under Federal Law No. 8 as amended. To start a mainland corporation, your company must follow the government's legal structure & adhere to UAE government policies. They must be built within...

  Are you seeking the top company setup consultants in Dubai ? Head over to our article to get more knowledge about how to choose the best one for your business. If you do a Google search for business setup consultants in Dubai, you may find a plethora of companies offering enticing packages in connection with company setup, licensing, sponsorship, and other services. Finally, selecting the best one from the group would be a difficult process. So, in order to settle the dilemma, here are a few parameters that will undoubtedly assist you in making the best selection possible. Professionalism- A professional firm is dedicated to building long-term relationships with its clients by exceeding their expectations. They will also have a customer service or support crew that is dedicated and professional. If the consultant is ready to reply to all of your questions, it demonstrates their professionalism, domain experience, and so on. Reputable companies always make themselves available to ...

The word Vat Return can panic even the most experienced entrepreneurs yet significantly more so the new startup entrepreneur, new to the universe of account & the lawful necessities their business faces. Many set up their own VAT returns while others frequently really like to look for the help of expert accounting services to stay away from any danger. They help you know about the VAT fundamentals, the necessities, the standards & the guidelines you should face to ensure your business compliance. Since VAT law is quick drawing closer, organizations should begin outfitting to execute the VAT necessities at full speed. There are five key components that organizations need to do VAT plan: Directing a VAT Impact Assessment The VAT impact assessment is the most vital phase in the whole VAT implementation procedure. At a strategic level, organizations need to evaluate the progressions needed to be made in valuing & cash flow management. This would rely on competitor analysis,...

  Real Estate Regulatory Agency (RERA) a government agency accountable for the making of rules and regulations for different realty market activities in Dubai demands that all real estate builders enlisted with RERA ought to have an ESCROW account & lead an independent audit to distinguish the finishing status of the scheme in regards to the advancement of construction. RERA likewise requires a yearly submission of the audit report for all finished activities from enrolled developers. The RERA of UAE requires the audit of the projects enrolled with them in the UAE and for a similar reason, RERA has approved just 25 auditors in the UAE who are qualified to play out the real estate audit. Mainly the RERA audit can be classified into 3 segments, they are operational, financial & compliance. The crucial laws relating real estate developers to the audit are: As per article 5 of the rules, the RERA will have every one of the rights to screen & direct the movements of develop...

  ADNOC (Abu Dhabi National Oil Company) has impelled an In-Country Value (ICV) program with the target of developing and broadening the UAE's economy and setting out open doors for UAE nationals in the private area. As a feature of ADNOC's ICV program, all ADNOC providers are needed to proclaim their ICV Certificate . ADNOC requires a yearly third-party check of the quantities of the ICV Certificate to be led. By coordinating the ICV measures into ADNOC's business assessment measure, the organization plans to support nearby and global associations & openings, creating more job chances for the UAE nationals & improving knowledge transfer. How To Obtain An ICV Certificate? The application process for obtaining an ICV certificate is fairly easy. Though, there are a few guidelines that you should be aware of. They are: Only empanelled ICV certifying bodies in UAE can be handed out ICV certification. Once a supplier applies for the ICV certification, they will need...

As we know that a business to set up in an outside country like UAE must have to pay corporate tax. Actually, handling tax and filing tax returns is a bit of a complex procedure. So, opting for a tax consultant is the ideal option to make as mindful of the tax assessment strategy of the particular country. A tax consultant is an individual or an organization who assists business entities & and people to comprehend and manage the taxation structure and uncover the legitimate methods of paying less tax. The growing number of organizations in the UAE has raised the number of tax consultants. Tax consultants in Dubai have expanded to an incredible number when contrasted with the previous years. A skilled tax Consultant can give guidance and support to file the value-added tax returns regularly, advise on the taxability of the transactions, & also direct the company & all other industry-specific matters to make certain that the company is obeying all the UAE VAT regulations. S...

  Now everything is online and each service is virtually accessible, so it’s not a far-fetched idea to have a virtual financial advisor or assistant. So here comes the significance of Virtual CFO, which represents Virtual Chief Financial Officer (VCFO). As the term suggests, dealing with the workspace virtually requiring the abilities of a CFO is what stands for VCFO. A virtual CFO is an individual who does the financial administrations offered by a CFO distantly, normally on part-time or less than a full schedule. Virtual CFO performs financial planning such as cash flow management, financial reporting, cost management, financial risk management, debt reduction, and so on. A virtual CFO is picked when the business experiences quick development, or when the financial reports and documenting system are conflicting or there is an absence of monetary comprehension in complex business activities. Following are the services that a Virtual CFO provides : Analysis & understanding of t...