Category Archives: auditing

Financial consultants in dubai

Financial Consultants- Why and How

financial consultants in Dubai

What do we do once we get hurt on our hand? We source out a specialist for a consultation. Regardless of the situation it is in the basics of human survival to pursue solutions for problems. Thus it is easy to guess why one should consult with a financial consultant if he has a problem in his business finance. Financial consultations are highly prominent among the ones possessing the know how of usage of their services which explains why financial consultants in Dubai are engrossed with their occupation than a financial consultant in a tier 3 city.

How does a financial consultant work

Financial consultations do not always take place in the presence of a problem but also once the need of expansion rises. Consulting a specialist provides a clear view of the next step to be taken to ensure the most safest & stable path. It is due to their exposure to, and relationships with numerous organizations, consulting firms/ consultants they are typically aware of industry best practices.

Seeking professional financial consultants in Dubai?

We ARC Associates, serve the best Financial Services and gives productive Financial Advises to our customers. Our administration incorporates a comprehensive money related and operational rebuilding, to our customer’s association. We give basic counsel and indispensable bits of knowledge to failing to meet expectations and fiscally stressing organizations, their partners and other concerned individuals. With a strong team of financial consultants in Dubai (and abroad) we strive for the fulfillment of our customers.

ARC provide the finest Business Consulting and Advisory Services. From Feasibility Studies, Market Feasibility, Operational Feasibility, Financial Feasibility , Operational Improvement,  Incorporation, Fund Management to Mergers and acquisitions .

For a no obligation initial consultation, please contact:

Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                           Web: 

Fraud – Manage it before it destroys you

Fraud – Manage it before it destroys you

Fraud is an unethical act that is unfortunately omnipresent in the world today. It is perpetrated by highly organized and resourceful criminal individuals and groups. The motivation is normally blind greed.
Fraud can deprive a business of its tangible movable and immovable assets, intellectual property rights, other intangible assets, customer lists, customer details and the entity’s reputation. Except for fidelity insurance covering a limited category of staff such as cashiers, it is not possible to mitigate the effects of frauds through insurance.
Material Fraud is significant and can destroy or seriously cripple a business. This category of fraud needs to be carefully managed with elaborate preventive, detective and punitive procedures. The lesser frauds that exist in most group activities are of relatively smaller value and can be considered immaterial. These immaterial frauds are to be managed with deterrent internal controls. Cost benefit constraints make it unviable to eliminate such frauds completely.

Dealing with material fraud

The best way to deal with material fraud is to prevent it. Experienced Fraud Examiners and Forensic Accountants are trained to detect weaknesses in business systems and environments that have already been attacked or are ripe for an attack. The high degree of information sharing in today’s world is helpful to fraudsters. It can also be helpful to their targets if they or their advisers are alert and abreast with the state of the art. Even a high level of expense to preempt fraud is worthwhile because the consequences are often fatal and there is normally no other way to mitigate the risk.
Once a material fraud has been detected, it needs to be addressed quickly and effectively. This is the second best way of managing a fraud. After preventing further damage, the process of comprehensively preparing for a prosecution has to start in order to recover as high a proportion of the loss as possible. Legal and other experts have to work together to provide such services.
The third way of dealing with material fraud is to effectively prosecute the case to minimize the cost and maximize the recovery of lost value. Legal experts have a major role in this activity with support of other professionals like accounting experts, at appropriate stages of the process.

Next Steps
It can be seen that professional help is necessary to deal with Fraud at various stages before, during and after a fraud is detected. It is therefore in the interest of every business entity, irrespective of size, to consult an experienced Fraud Examiner for enlisting appropriate relevant services at the right time.
For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                             Web:

Company Liquidation and De-registration Services In Dubai

Company Liquidation and De-registration

“A Smart move if done in time”

 

Company liquidation and de-registration services in dubai

Company Liquidation And De-registration Services In Dubai:

Everything that has a beginning has an end. The life cycle of a commercial company starts with incorporation or registration, covers the growth phase until it reaches maturity followed by the decline phase and finally ends in liquidation and deregistration.

A commercial company, by its nature, exists to make profit and generate cash surpluses to satisfy various stakeholders.

A smart move is to liquidate and deregister the commercial company while the going is still good enough to pay all its liabilities from its assets and return the residual assets to its owners. A timely voluntary liquidation will give the commercial company a great degree of  control over the process. The reputation and credit-worthiness of its owners will also remain intact, which is important for starting a new business in the future. Procrastination often results in unpleasantness. Involuntary liquidation can be triggered by creditors or the court. In such events, the owners have far less control than a voluntary liquidation. Assets generally tend to realize lesser value as the potential buyers look for bargains in the knowledge that there is a compulsion to sell. Reputation loss for the owners is an additional thorn in their side.

Liquidation Rules & Regulations

In general, liquidation involves early termination of all unexpired contracts, disposal of all assets and inventories including work in progress and obtaining certificates confirming settlement of all liabilities from banks, lenders, creditors and regulatory authorities. Some assets may be taken over by creditors, owners or shareholders. In such cases, unbiased professional valuations may be required.

In the UAE there are specific liquidation and De-registration rules for:

  • Onshore companies
  • Free Zone companies
  • Offshore companiesARC Associates Deregistration

It is advisable to consult a professionals such as approved liquidators for LLC and FZ company liquidation or DMCC approved auditors and DMCC company liquidators to discuss the process and timing of liquidation and deregistration. An experienced liquidator can save the company time and money while safeguarding reputation and offering peace of mind.

In every problem there is an opportunity. The professional liquidators in Dubai can help in maximizing the benefits from the opportunities.

Where to seek  help

ARC Associates is an experienced Liquidator, ready to serve you.They are:

  1. Registered free zones liquidators
  2. Approved liquidators for LLC and FZ Company liquidation
  3. DMCC approved auditors and DMCC Company liquidators

For a no obligation initial consultation please contact:

 Mr. Reyees. K.P | Director

ARC Associates

Tel: +971 4 4431604

PO BOX 390831

Mob : 055 4874391

B2B Tower , Office 1213

Business Bay

Dubai, UAE

Email: info@arcauditing.ae                                                                             Web: www.arcauditing.ae

Accounting Service In Dubai

ACCOUNTING SERVICE IN DUBAI

ACCOUNTING SERVICE IN DUBAI: ARC ASSOCIATES ARE ONE OF THE TOP ACCOUNTING SERVICE PROVIDERS IN DUBAI, UAE. ARC PROVIDE HIGH CLASS QUALITY ACCOUNTING SERVICES TO THEIR ESTEEMED CLIENTS.

Accounting Service in Dubai

ARC Associates is a group of Auditors and Accountants, established in Dubai, providing services in Audit, Finance, Accounting, Consultancy and RERA auditing. ARC Associates is also a listed auditors in RERA. We are one of the top auditing companies in Dubai.

ARC Associates was born from the core ideology of providing high quality financial services to organizations in need and imparting unbiased insights without compromising on the passion for excellence. We believe that credibility is the key to providing services in various areas like financial and consultancy, auditing, internal auditing, RERA auditing etc, And our team with years of distinguished industry experience is equipped to serve our clients with utmost transparency.

ARC Associates having a good financial advisory team on board can be a luxury for many organizations.  With our array of services and tools that ensure a precise analysis of business capabilities, And we provide RERA auditing. We are one of the approved listed auditors in RERA. we are able to provide such a team to our clients while aligning to their organization budget.  Our well-experienced team makes sure that all the risks and contingencies for our clients’ organization is addressed with an end-to-end financial advisory solution as and when they need it.

Accounting Service In UAE

Accounting Service  In Dubai

ARC Associates are aspired to be one of the top accounting company in Dubai, UAE. who Provide our clients with a global financial strategy. We look forward to deliver our clients the best affordable services with a guarantee of unparalleled professional integrity.

ARC provide comprehensive services in

  • Audit & Assurance Services.
  • Financial Accounting & Outsourcing Services.
  • Business Consulting & Advisory Services.
  • Free zone Audit Services.

 

ARC Associates

Registered Auditors In RERA

REGISTERED AUDITORS IN RERA

ARC Associates gets listed with RERA And Is Now among the approved list of auditors qualified for executing RERA Audits

Registered auditors in RERAListed auditors in RERA: Real Estate Regulatory Agency (“RERA”), established in Dubai, UAE in the year 2007, is a government agency that formulates, regulates, manages and licenses various real estates related activities in Dubai.

RERA stipulates that all its developers should have an independent “ESCROW” account and should undertake an audit to check on the current status of the project and update the records with regards to the progress of the construction. Also, all completed projects must have their own Owner’s Association, who should maintain and audit its books of accounts and submit every year to RERA.

Briefly the scope of a RERA audit covers the following:

a) Financial Audit – audit and reviewlisted auditors in RERA

  • list of units sold, units cancelled and cash received from buyers
  • Mortgage/finance amount received for the project from financial institutions
  • Retention a/c balance and verify it represents 5% of total funds received
  • Paid land costs and other related payments (registration fees, etc.)
  • Project construction, management & marketing related payments
  • Advance payments released to the contractor(s)or other parties
  • Advance payment guarantee and performance bond issued

 

b) Operational Audit – To assess the effectiveness of control environment and activities of  the company.

c) Compliance Audit – To verify whether or  not the developer is in compliance with the applicable real estate laws & regulations as required by RERA.

At present only about 25 professional firms are registered with RERA to conduct the above audit. RERA requires the professional firms to be listed with them to qualify for conducting the above audit.

ARC associates is pleased to announce that the firm has been listed with RERA and thus joins the list of approved auditors who have been recognized by RERA.

ARC associates is a professional firm of accounts based in Dubai with an excellent track record in conducting various types of professional assignments. Partners have more than 35+ years of experience and the total experience of partners put together exceeds 200 years. Please visit our website for more details.

 ARC Associates

Auditor Client Relationship & Audit Quality

An auditor has to display extra miles of tact and wisdom when dealing with a client. The attitude,  approach and psychology of each client differ as it can be likened to the five fingers of our palm.  At the outset, the auditor has to give a feeling and confidence to the client that his advice and opinion will add value to him. Once he gains the confidence of the client the rest is easy. Auditor client relationship and audit quality will effect a long time business.auditor client relationshipThe auditor has to give a feeling that his top priority will now will be solving the client problem. An auditor usually shoots “Why” and “What” to the client and now he may have to face those in return. He has to be polite, accommodating and thus make the client feel comfortable.  Then he has to sit with them and find out a solution which is beneficial to both.  He has to acquire the trust and respect from the client, this way.  At the same time, the auditor should take care not to compromise on his independence when giving his opinion or view.  The success of an auditor depends on how he tackles such situation.

Risk Audit Project Management

We always hear the word “Risk” in the audit atmosphere these days. Risk has become so important in audit parlance that we have specialized in “risk audit” training now. There are also auditors who have obtained special training on risk audit.

Risk audit is defined as the uncertainty of an event occurring that could have an impact on the achievement of the entity’s objectives. Risk has been classified in many ways and there are different ways of classifying and grading risks. We should also bear in mind the fact that, risk can be controlled only and not eliminated.

risk audit

Inherent Risk Audit

There are inherent risks associated with any company which arise due to the lack of controls. Residual risk is defined as the risk that remains even after the controls are established in place. Fraud risk is the risk that arises due to the possible commitment of fraud by the staff members.

Auditing Procedures

Auditing refers to a systematic and independent examination of accounts, books, documents and vouchers of an organization to clarify whether financial statements presents true or falls.  Auditing Procedures attempts to verify that the books of accounts are properly maintained as per the Law.  It is the process of reviewing and investigating any aspect of business, even financial or non financial.  Audits can show the normal flow of business in a company.  As a result of an audit, a company may thoroughly evaluate and improve the finance and the governance process of overall business. Auditing procedures is for obtaining audit evidence.

Auditing ProceduresAnalytical Auditing Procedures

  1. prior periods
  2. budgets
  3. forecasts
  4. similar industries and so on.

Analytical auditing procedures are performed at three stages of audit, that is at start, in middle and at end of the audit.

Auditing Companies In Dubai ARC Associates

Auditing companies in Dubai

Auditing Companies In Dubai: ARC associates

ARC ASSOCIATES

Source: Auditing Companies In Dubai, UAE

An auditing company is the firm which reviews activities to identify inefficiencies, cost reduction or else achieve organisational goals. Auditing companies may spy possible theft or fraud and ensure conformity with applicable regulations and policies.  

ARC Associates is a group of auditors and accountants, established in Dubai , providing comprehensive services in audit, finance, accounting and consultancy. Auditing Companies In Dubai ARC AssociatesARC was born from the core ideology of providing high quality financial services to organizations in need and imparting unbiased insights without compromising on the passion for excellence. We believe that credibility is the key to providing services in various areas like financial and consultancy, auditing, internal auditing etc. and our team with years of distinguished industry experience is equipped to serve our clients with utmost transparency.

We ARC Associates is registered with the Ministry of Economy & Commerce, Dubai Dept of Economic Development. One of the best in Auditing companies in Dubai, UAE in accounting services. ARC Associates is led by a team of well qualified, experienced and dedicated professionals.

Developing Dubai got many huge companies,  ARC AssoAuditing Companies In Dubai ciates provide economical Company liquidation and De-registration services in Dubai. We have experienced, dedicated and professional liquidators who can help with generating the benefits from opportunities and save the company’s money and time. We are ready to serve you with our experienced and dedicated liquidators. We are one of the best Auditing companies in Dubai. 

Services provided in Dubai for Company liquidation and De-Registration services.

 

 

Our services:

Audit and assurance

Auditing Companies In Dubai ARC AssociatesARC Associates, one the leading auditing companies in Dubai,  UAE provides audit services including Statutory audit, Internal audit, System and Management audit, Concurrent and Income and Expenditure audit to Bank audit, Stock audit,  Due industriousness and certification works, etc. We ARC associates  is one the top JLT listed Auditors in Dubai, UAE.

Audit & Assurance Concept 

ARC Associates an active and determined to personnel an in-depth approach to auditing and assurance services around the world.  The audit performance is a potent management tool and We ARC Associates team delicately builds the performance to focus on exact areas of accounting procedures.

  • Statutory Audit
  • Internal Audit
  • Special Audit
  • Annual Audit
  • Cost Audit
  • Stock Audit
  • Operational Audit
  • Financial Audit
  • Management audit and Certification
  • IT Audit

First of all our auditing team analyse the structure of the business and make assure the internal controls and the accounting systems are set in the prescribed standard. This approach leads to the knowledge based gains by ARC Associates to the client. We ARC Associates listed  top in Internal Audit service companies within Auditing companies in Dubai, UAE.

Financial Accounting Services

ARC Associates has been coming out on top measures as we detail and re-characterize Financial & Accounting  administrations for our customFinancial Accounting Servicesers crosswise over ventures.  We have initiated the construction of a different domain expertise with the assistance of skilled and talented workforce. ARC Associates has achieved an important change in the way Accounting and Finance operate and has helped financial officers to apply top level notch  act. We realized that Accounting and Finance affairs needs through administration so that vendor networks escalate, and service assurance is upheld. And ARC Associates: We are the leading Auditing companies in Dubai, UAE

  • Part-time Accounting
  • Preparation of accounts
  • Book Keeping
  • Accounts Reconciliation
  • Accounting systems Analysis and Design
  • Implementation of Finance Accounting software

Accounting Outsourcing Services

We ARC Associates has been leading competitors in  Finance and Accounting outsourcing with industry standards,  as we defined and formulated financial and accounting services for our clients across industries.  ARC AssoAccounting Outsourcing Servicesciates has made the business process outsourcing easier with active involvement of professional and experts from all over the globe and provide customers with the finest of the services for all required needs as a back office. We noticed that Accounting and Finance functions needs detailed administration, so that vendor network increase, Our systems are geared to handle a huge volume of outsourcing work in most authentic manner.

  • Accounting Outsourcing
  • Payroll Processing
  • Accounts Payable and Receivable
  • Invoice Processing Services
  • Project Accounting Services

Business Consulting and Advisory Services

ARC Associates is persevering and determined to employ a in depth way to auditing and assurance in Dubai.  Our bunch of  services range from Statutory Audit, Internal Audit, System and Management Audit, Concurrent revenue  and expenditure audit to Bank audit, Stock Audit, Due diligence and certification jobs. ARC Associates is the one the best JLT listed Auditors in Dubai,  UAE. We endeavor to accomplish a quick financial stability for the customers and adapt the top techniques that boost their decision making abilities. We also see to it that our services are compliant with the lawful and valid environment.

Business Consulting and Advisory Services

 

  • Statutory Audit
  • Internal Audit
  • Special Audit
  • Annual Audit
  • Cost Audit
  • Stock Audit
  • Operational Audit
  • Financial Audit
  • Management Audit
  • IT Audit

 Registered Auditors in RERA

ARC Associates gets recorded with RERA and is among the approved list of inspectors met all requirements for executing RERA audits.

REGISTERED AUDITORS IN RERA

Recorded auditors in RERA: Real Estate Regulatory Agency (RERA), established in Dubai, UAE in the year 2007, is a GOVT bureau that formulates, regulates, manages and licenses different real estates activities in Dubai.

RERA guarantees that all its builders should have an independent ESCROW account & should undertake an audit to analysis on the present status of the project and update the records with regards  to the breakthrough of the construction. Also all finished projects should have their own owner’s Association, who must maintain & audit its books of accounts and submit each and every year to RERA.

Shortly the scope of a RERA Audit covers the mentioning:

a) Financial Audit-audit & review

  • List of units sold,units are cancelled and received cash from buyers
  • Finance amount collected for the project from financial institutions
  • Retention account balance and certify it represents 5% of total funds received
  • Paid land costs & other related payments like registration fees
  • Project construction ,management and marketing related payments
  • Advanced payment released to the clients and contractors or other parties

b)Operational Audit- To check the effectiveness of control surroundings and activities of the company

c)Compliance Audit- To check whether or not the builder is in compliance with applicable real estate laws and regulations as required by RERA.

Currently about 25 professional firms registered with RERA to conduct the above audit. RERA requires the expert and professional firms to be listed with them qualify for conducting the above audit.

We ARC Associates is pleased to disclose that the firm has been listed with RERA and thus combined the list of approved auditors who have bees recognized by RERA.