Audit Firms In Dubai

Taxes In UAE 2023

Current Government News Regarding Personal Taxes In UAE 2023

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As businesses begin to focus on financial reporting in 2023, there are essential yet important corporate income taxes considerations to assess and assess. The UAE Federal Corporate Tax Law for International Financial Reporting Standards (“IFRS”) has been enacted. Although they are not yet required to consider current income tax, companies will need to consider whether …

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Future of Audit

The Future of Audit: Embracing Technological Advancements

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Across the globe, companies, the audit profession, professional bodies, and regulators are increasingly concerned about the impact of technology. Technology can deliver clear benefits, from operational efficiency to financial inclusion and deeper insights. However, with these benefits come many risks, which still need to be fully understood. As the auditing and accounting world continues to …

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Audit Firms

The Role of Audit Firms in Promoting Financial Transparency and Accountability

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Audit firms play an important role in promoting financial transparency and accountability. They help to ensure that the financial records of businesses, both public and private, are accurate and up to date. In addition, audit firms are designed to assure stakeholders, clients, and financiers that the financial statements are free from material misstatement. Audit firms …

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Audit Firms In Dubai

Accounting Estimates: How Do Auditors Evaluate Them?

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When audit companies in Dubai report their financial results, they are usually based on estimates prepared by management. Examples include provisions for bad debts, guarantee obligations, pending litigation costs, impairment of goodwill, and fair value of acquired intangible assets. How do auditors in Dubai assess whether the amounts for these items in the financial statements …

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Uae Tax Rules

UAE Tax Rules Relaxed, Penalties Reduced In The UAE

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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?

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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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Financial Audit

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

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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?

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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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Auditing Internal Procurement

Auditing Internal Procurement Programs: A Complete Guide 2023

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Here is a comprehensive guide to apprehending internal procurement audits and their importance. Plus, the steps involved in conducting a detailed procurement audit. Procurement audits are an essential part of the procurement cycle. However, procurement can be complex for organizations due to the procurement process and the amount of data processing involved. Purchasing department audit …

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ABOUT VVAS GLOBAL

VVAS Global was established in 2012 in Dubai, United Arab Emirates, and started its operations in Mozambique as Vista Vision Audit and Accounting Services Mozambique, Limitada under the same umbrella of leadership, experience, and expertise of the international market.
 

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  • info@vvasglobal.com
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