We’re a leading firm of chartered accountants & VAT/Tax advisers supporting entrepreneurs, high net worth individuals, family offices and growing businesses in UAE.
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB).
The goal of IFRS is to provide a global framework for how public companies prepare and disclose their financial statements. IFRS provides general guidance for the preparation of financial statements, rather than setting rules for industry-specific reporting.
Having an international standard is especially important for large companies that have subsidiaries in different countries. Adopting a single set of world-wide standards will simplify accounting procedures by allowing a company to use one reporting language throughout. A single standard will also provide investors and auditors with a cohesive view of finances.
Currently, over 100 countries permit or require IFRS for public companies, with more countries expected to transition to IFRS by 2015. Proponents of IFRS as an international standard maintain that the cost of implementing IFRS could be offset by the potential for compliance to improve credit ratings.
Reduce risk and improve your organisational performance by challenging existing assumptions and practices.
Businesses who partner with our services will reap the benefits of having a complete understanding of up-to-date financial strategies as per IFRS and better access to a wide variety of industry expertise which can boost the values to the company.
As your business is continuing to grow in size, you’ll most likely require more sophisticated and up-to-date strategic advice that your accountant can ever be offered.
It will also highlight control weaknesses and let the business owner know if risk management processes are operating effectively thus increasing the efficiency of your business.
There’ll be a lot of flexibility while working along with our services. Entrepreneurs are able to focus entirely on expanding core business and developing new products and services based on the professional advice of our specialized our services.
Having set the strategic financial plans on your core business allows more freedom and opportunity to grow, and permits products and services to be relevant to the markets to keep retain current clientele and attracting more customers.
This is not easy for business owners to know some of the financings, operating, credit and regulatory risks when making any key business decisions and fallen a victim to fraud when dealing with untrustworthy persons in running the businesses.
With the help of our services, the risks of default will be reduced significantly. That’s because the systems and procedures are put in place to reduce the risk of unethical and risky activity.
When it comes to accounting and financial decision makings, it will require companies to strictly comply with the local laws and regulations especially when it related to government taxes, data protection, regulatory reporting standards, rules and regulations.
Our independent services are helpful to keep companies remain compliant with the latest financial & company regulations when it comes to making the most informed financial decisions and ensures the future growth of the company.
We will assist the owners and/or the Company to identify potential buyers or sellers (as the case may be) and how these potential counterparties should be approached. Alya network has the advantage of a global reach and allows us to search for potential counterparties both openly or confidentially.
We will assist you to prepare your information package that tells the potential counterparties who you are and what you are looking for. Getting this package done right is important to maximise your reach to as many counterparties as possible. Such packages can be prepared on a confidential basis or a public basis.
We will support you and your business in performing the necessary due diligence on the potential buyer or seller, as the case may be.
We will support you and your business in performing any deal structuring or relevant negotiations, as the case may be.