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Uae Tax Rules

UAE Tax Rules Relaxed, Penalties Reduced In The UAE

Here is the good news, some of the penalties and tax rules are reduced in a recent cabinet meeting to ease the business and taxpayers. The UAE Cabinet recently confirmed several updates to the administrative penalties applicable to companies violating taxes in the country. As part of Cabinet Resolution No. 49, several incentives were introduced […]

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Financial Audits In 2023

Why Do We Do Financial Audits In 2023?

The company keeps records of all financial transactions. Accountants manage and maintain these records and create reports based on them. A company’s financial statements can be used both internally and externally. Management typically uses detailed data daily, weekly, and monthly to control the company’s performance and productivity. Detailed data helps companies set goals and determine

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Business Setup In Dubai

Business Setup In Dubai And The Importance Of Setting Up A Company In The Free Zone In The UAE In 2023

Many foreign investors arrive in Dubai annually to take advantage of the emirate’s unparalleled advantages, such as 100% foreign ownership, long-term visas, a safe place for families, strategic location, ease of doing business, modern infrastructure, etc. The Ministry of Economy and Tourism ( DET) issued 24,662 new business licenses in Q1 2022, implying that foreign

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Audit And Accounting Firms In Dubai UAE 2023

Top Audit And Accounting Firms In Dubai UAE 2023

Auditing is one of the most critical aspects of doing business locally and internationally. An audit lets you know you’re dealing with a reputable company and lets potential shareholders or partners know you’re a worthy partner. The UAE is known as one of the most famous business centers in the world, where people exchange services

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Financial Audit

The Difference Between A Financial Audit, A Financial Review, And A Financial Compilation

When most people think of verifying information in a company’s financial reports, they believe in auditing. At the same time, a full audit of a firm’s accounting records delivers the highest level of assurance, a financial audit. While providing only limited assurance is also sufficient for companies seeking an independent audit of their financial statements

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Audit Trail

Why Do You Need An Audit Trail?

An audit trail is a record-keeping system that ensures that all steps of a financial transaction are recorded digitally and physically. Audit trails typically include physical source documentation such as: Other internal documents are used to record and execute financial transactions. What is the Audit Trail In The United Arab Emirates? Generally, a well-managed audit

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Internal Audit

The Implementation Of An Internal Audit Program In Procurement

A procurement internal audit implementation is a process in the procurement management cycle and a vital part of the procurement process. As companies procure the resources needed to get things done and run smoothly, spending must be managed to prevent overspending and build trusted connections with suppliers for coming projects. However, procurement management covers multiple

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