VAT relief: UAE latest changes on late payment of VAT penalties for businesses Earlier, voluntary disclosures too carried high penalty charges and that’s scaled back
Audit Firms in Dubai, UAE
Our accountants in the UAE organize their activity in accordance with the local and international standards of auditing. As a general rule, the audit procedure focuses on the financial statements of a company; the accountants will analyze the key features of the statements, identifying possible financial risks, which is one of the main responsibilities of an auditor.
Planning the audit is an important phase for company owners and it is the responsibility of the auditor to plan the audit of the financial statements. For companies that perform recurring audits, planning this step means having an audit strategy as well as assisting the auditor as needed. The list below includes some of the steps in which company owners in the UAE can participate:
- Problem-solving: the auditor can receive help for solving existing or potential problems in due time or in advance.
- Focus areas: the auditor can receive assistance or guidelines for focusing on important areas of the audit.
- Audit engagement: company representatives can help the auditor organize and manage the process, for the purpose of making it more efficient and effective.
- Providing assistance: companies can assist the auditor in selecting team members from the company who is capable to be assigned tasks for this proves.
- Facilitation: when needed, they can facilitate the supervision of the engagement team as well as the review of the work.
The auditor is the one who will determine the general audit strategy, then set the timeframe and the direction of the process as well as guide the actual implementation of the audit plan. The planning activities can start in advance and they can be tailored to the needs of the client company according to the size and business field. The current auditor can when needed, coordinate with the previous auditor if there have been changes in the overall audit strategy. The communication between two auditors, a current and a previous one, will be performed in accordance with ethical requirements. Our audit company in the UAE can offer more information on how we can be of help.
The accounting services provided by our local accountants are delivered by a team of multi-disciplinary professionals, who can give advice related to the accounting policies applied by the company or the financial performance of the company. We also offer VAT registration services in the UAE.
Our team of experts offers a wide variety of audit services in the UAE, having a strong knowledge when it comes to the local and international accounting principles. These are completed by a thorough knowledge of organization systems, controls, and processes. Our accountants can provide more detailed information on the types of audit services we offer in the UAE.
VAT registration of ‘Sole Establishments’- New Amendment Please be informed that Public Clarification VATP026 replaces Public Clarification VATP021. A natural or legal person may own