Businesses in the UAE that are engaged in the supply of goods and services that are taxable are required to obtain VAT registration if their supply and import turnover meets the prescribed threshold level. Whereas, the process of VAT deregistration can be voluntary or mandatory depending on certain criteria that have to be met in … Read more
Legal Counsel and Financial Advisory — Two Roles, Not One A common source of confusion in UAE mergers and acquisitions is treating M&A as a purely legal exercise. In practice, a well-structured M&A transaction involves two distinct professional teams working in parallel: legal counsel, who handles the contractual, regulatory, and corporate law dimensions of the … Read more
What an Annual Statutory Audit Is A statutory audit is an independent examination of a company’s financial statements conducted by a licensed external auditor who has no financial or professional connection to the business under review. The output is a formal auditor’s report — a professional opinion on whether the financial statements present a true … Read more
Establishing an inventory audit procedure for an office or a warehouse is an essential prerequisite. An inventory audit involves periodically verifying the items on an inventory list. This prevents stockouts and ensures that the products needed to meet customer demand are in place. Audit firms in Dubai use multiple approaches to provide inventory auditing services. What … Read more
Why Revenue Recognition Is an Internal Audit Priority Revenue is typically the largest line item in any business’s financial statements and the figure most scrutinised by investors, lenders, tax authorities, and regulators. It is also one of the areas most susceptible to misstatement — whether through misapplication of accounting standards, premature or deferred recognition, or, … Read more
Every organization no matter how big it is would look for a cost-effective solution for all the problems. Another thing that almost all organizations do these days is they prefer working on their core activities rather than doing other works that are necessary for the organization but do not come in the category of core … Read more
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