If you’ve spent time in the UAE, you’ve likely seen countless signs reading “for lease.” What does that actually mean for the accounting behind it, and how do audit firms in the UAE account for it under IFRS 16? Lease accounting plays a genuinely important role in a financial audit. In December 1997, the IASC … Read more
What a Chartered Accountant Is A chartered accountant (CA) is a professional who has completed a recognised accounting qualification, passed rigorous professional examinations, and accumulated supervised practical experience before being admitted to membership of a professional accounting body. The most widely recognised bodies in the UAE context are the Institute of Chartered Accountants in England … Read more
Why Do UAE Businesses Get Selected for a Regulatory Tax Audit? A regulatory tax audit in the UAE is an external review conducted by the Federal Tax Authority (FTA), and it can be costly for a business, both in terms of the time and resources required to respond and in terms of potential penalties, interest, … Read more
All companies have fixed and current assets that enable their operations. However, effective identification of long-term property, fixed assets, isn’t something every organization does well. This creates discrepancies in how a company’s assets are recorded, making it hard for auditors to establish their true value. Companies that don’t maintain an accurate fixed asset register also … Read more
In business management, several different situations call for company valuation in UAE. An independent valuation is needed in satisfying the requirements of investors, answer the inquiries of lenders, and/or prepare for a future merger or acquisition. Regardless of why there’s a call for company valuation, it’s calculated using decision-oriented or market-oriented methods. But, the business … Read more
What Risk-Based Auditing Is and Why It Developed Risk-based auditing is an audit methodology that directs audit effort toward the areas of greatest risk rather than distributing it evenly across all parts of a business. It starts with a structured assessment of where errors, misstatements, or failures are most likely to occur — and then … Read more
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