Statutory auditing is a type of audit required by law or statute to ensure that the book of accounts presented to the public and regulators is true and fair. A statutory audit is required if the company meets certain criteria. In most cases, a statutory audit refers to a financial audit. PROCEDURE FOR STATUTORY AUDIT …
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How to implement your tax planning
All entities living temporarily or permanently in the UAE are eligible to pay taxes according to UAE taxation law. All the taxation planning done in the UAE plays an important role in its economy. Many people face difficulties while calculating and paying taxes, which sometimes causes them a lot of stress. For that, it is …
Errors that are made while filing VAT returns
VAT (Value added Tax) was introduced in the UAE on 1st January 2018. It has become compulsory for every business to follow this VAT requirement law. Every organization must be attentive while filing VAT returns, as small errors may cause many losses or fines. As a company of Internal audit services in UAE, we offer …
Different accounting methods are proceeding in the UAE market.
Every organization’s basic needs and operations depend upon accounting and bookkeeping. It doesn’t matter what the size of the business is and the category of your business. Maintaining your accounts and finances is essential to running a smooth business that can not be avoided. Accounting also allows you to clarify future decisions, such as expanding …
How does VAT affect the education system of the UAE
Every individual basic need starts with their education. Every economy’s strength and development depend upon the excellence of the education system. Many countries aim to have a tax-free education system as it is necessary and fundamental to achieving growth and success. As a prosperous nation, UAE has been working on relaxing its education system as …
Essential tips to enhance a small company’s financial system
Today’s accounting and bookkeeping play a vital role in running any business. It is compulsory to track all your incoming and outgoing cash flow as it describes accuracy in financial statements. These financial statements are crucial for investors, shareholders, upper management, and the government as they are required for decision-making. These financial statements are essential …