Proud of UAE  [email protected]       [email protected]        +97142500251 97142500251+       +971507869887 971507869887+      WhatsApp

Financial Statement Audit for Public and Private Organizations With Cryptocurrency Assets

Home » Articles by: Ervee Villanueva

Ervee Villanueva

Ervee is a CPA with international experience in Tax and Accounting. He has over 12 years of experience in accounting and bookkeeping and over a year in VAT implementation, registration, and accounting in UAE. He regularly drives out inefficiencies in company operations and loves the challenge of helping clients find additional ways for an easier and improved compliance and verification of transactions.

Financial Statement Audit for Public and Private Organizations With Cryptocurrency Assets

Published On: | Last Updated: by
external financial statement audit public private organizations cryptocurrency assets

Ownership of digital assets is rising among UAE businesses, and where a company holds cryptocurrency, those holdings now factor into the statutory audit of its financial statements. Auditing cryptocurrency assets requires auditors to genuinely adapt traditional methods, the underlying technology, valuation approach, and risk profile of digital assets differ meaningfully from conventional balance sheet items. … Read more

“Applicable Taxable Income” Threshold Under UAE Corporate Tax Confirmed

Published On: | Last Updated: by
applicable taxable income for uae corporate tax confirmed

Regardless of how many businesses or commercial activities a taxable person engages in during a tax period, a 0% rate applies to taxable income that doesn’t exceed AED 375,000. Where taxable income for the applicable tax period exceeds AED 375,000, tax applies at 9% on the amount above that threshold. This taxable income threshold was … Read more

Will an Individual’s Salary Income Be Subject to UAE Corporate Tax?

Published On: | Last Updated: by
will individuals salary subject to uae corporate tax

UAE Corporate Tax exempts specific categories of income for individuals. This includes earnings from any kind of employment, whether in the private or government sector, covering salaries and other forms of compensation. Individuals may also engage in real estate investing in a personal capacity, except where a business license or permit is genuinely required. Dividends, … Read more

How Should Cryptocurrencies Be Accounted for in Financial Statements Under IFRS?

Published On: | Last Updated: by
cryptocurrencies accounted financial statements

Why Does Cryptocurrency Accounting Raise Questions Under IFRS? Cryptocurrency has moved from a niche speculative asset to something increasingly held by businesses, and no single IFRS standard was written specifically to address it. This leaves businesses and their auditors needing to work through several existing standards to determine the correct classification, measurement, and disclosure treatment … Read more

What Is Financial Crime and How Does Forensic Audit Help Detect It?

Published On: | Last Updated: by
financial crime and forensic audit in uae

What Financial Crime Actually Means Financial crime describes a broad category of illegal activity in which the mechanism of harm is money — either its theft, its manipulation, or its concealment. The term covers money laundering, fraud, embezzlement, bribery, corruption, insider trading, and terrorist financing, among others. What unites them is not the method but … Read more

Country by Country Reporting (CbCR) in the UAE: A Complete Guide

Published On: | Last Updated: by
Country-by-Country Reporting (CbCR) in the UAE: Who Must File and When

What Is Country by Country Reporting (CbCR) in the UAE? Country by Country Reporting (CbCR) in the UAE was introduced under Cabinet Resolution No. 32 of 2019, later amended by Cabinet Resolution No. 44 of 2020. Both instruments implement the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 … Read more

×

Hold On!

Business decisions are easier with the right guidance.

For audit, accounting, tax, or VAT, our team is here to help.

Let’s Help You Move Forward

Need Expert Advice on:

Audit & Assurance Accounting & Bookkeeping Corporate Tax & VAT Payroll & HR Outsourcing
WhatsApp Call Now!