What Is An Investigation Audit & Related Procedures?
When a company is suspicious of engaging in anomalous activities like money laundering, financial crimes, or fraud, a detailed investigation of its accounts, financial statements, & business procedures is required. An investigative audit is a name given to this investigation process. These investigation audits are directed at an assortment of purposes. It utilizes a range […]
Amended Commercial Companies Law in UAE to Allow 100% Foreign Ownership of Companies
The UAE’s Ministry of Economy has announced an amended Commercial Companies Law which was implemented in the first week of June that allows foreign investors & business entrepreneurs to start & fully own onshore companies. It is part of the government’s efforts to simplify doing business in the UAE and to improve the nation’s competitive […]
Learn About the Key Differences between Investigation and Auditing
For common people, investigation and audit are nearly the same, but this is a wrong assumption. There is a significant difference between these two. In this article, we will try to get the concept of investigation & an audit & what is the key difference between them. An investigation is performed to prove a certain […]
How to Liquidate Free Zone Companies in UAE
Company Liquidation is a procedure where an organization takes a choice to wrap up its operation as it can no longer proceed with the business activities. When a business goes through liquidation, they sell their resources so they can take care of their obligations/liabilities/commitments. The sum that is gathered in the wake of selling the […]
Key Things to Understand About Filing a Bankruptcy Petition in the UAE
If an organization is announced bankrupt in the UAE, substantial commercial, monetary & legal consequences will follow. It will probably lose all of its money & different resources, while its creditors are probably not going to get back the entirety of its debts. A dealer who applies for bankruptcy is probably not going to be […]
How to Launch Your Business in UAE Online?
The worldwide online business industry is quickly developing. In UAE, the business is changing rapidly to the online business stage for products & services. Customers or clients in UAE are more open to doing business online instead of directly visiting the offices or shops. It saves their energy, time, and cash. So if you are […]
Role of TAX Agency to Ensuring Maximum Business Compliance
To help the VAT implementation in the UAE, the Federal Tax Authority (FTA) characterized the job of tax agents to help organizations completely comply with the legislation. Organizations can select qualified persons as tax agents to address them to advise & oversee procedural prerequisites under Federal Law on TAX Procedures. So recruiting a TAX agent in […]
Be Familiar with Anti-Money Laundering Laws & Some Penalties in UAE
Money laundering is an issue for the UAE, apart from the means the nation has taken to battle monetary, coordinated, & terrorist criminalities. The UAE keeps a solid Anti-Money Laundering (AML) framework with an end goal to secure against the chance of money laundering & terrorist financing. The UAE has endorsed two laws that fill in as […]
VAT Related Responsibilities of Business in UAE
The responsibility of a business concerning value-added tax is to gather tax for the government. Not too troublesome a job now but rather, organizations are likewise liable for comprehension and executing every law and guideline relating to VAT also. If one ignores this it will get some hefty fines. The hypothesis of value-added tax is […]
Effective Internal Audit for Business
An Internal Audit System is the main building block to a viable Quality Management System for a business. Internal auditing is an asset for smaller and larger businesses. An effective internal audit is a significant asset for the managers, the board or its members, and the audit council because of its understanding of the business […]