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Save Your Business in Dubai Through Us

We’re a leading firm of chartered accountants & VAT/Tax advisers supporting entrepreneurs, high net worth individuals, family offices and growing businesses in UAE.

Important Information & Advise For Clients With Respect to Covid 19 (Coronavirus)

Dear Client,

Following the recent developments surrounding COVID-19 (Coronavirus), our top priority remains the health and well-being of our colleagues, whilst ensuring that we are available to continue to deliver a high quality service to all our clients.

We have long been a supporter of agile working and have invested heavily in secure, cloud based technology. As a result, we do not expect day-to-day business to be impacted, but have implemented a range of measures to ensure an uninterrupted service:-

  • We may be working from home, or remotely, but can always be contacted by telephone or email;
  • We are limiting in-person meetings, but can always arrange video, conference calls or screen share via Skype, FaceTime, Zoom or Microsoft Teams;
  • When requested, please supply information promptly, for example, to process payroll, file VAT or statutory accounts, to avoid any delays;
  • For certain clients, there may be operational issues in processing payments to suppliers or employees, therefore please ensure your client account is sufficiently and promptly funded when requested.

Moreover, the rapid spread of the COVID-19 is presenting unprecedented challenges for our clients. I have set up a specialist team to closely monitor all the unfolding developments and gather further details on loans, grants and subsidies to help you navigate your way through these circumstances.

You can get detailed information on  government announcements in the UAE, but for further, detailed information, please email us at audit@alyaauditors.com , or request a call back.

Regards,

Bibin Jose FCA
Managing Partner

Further Advise From Alya Auditors

Preparing Your Business

It is unclear how long this outbreak could last and the severity of its effects. Some of our clients have already reported the negative impact of COVID-19. We would therefore like to take this opportunity to advise clients to take sensible precautions in preparing their business, if not already done so:-

  • First and foremost, employers should ensure that they are taking any necessary steps to protect their employees. All employers have health and safety obligations to keep employees informed about health risks that may arise in carrying out their duties and to ensure that working practices do not create undue risks to employees. 
  • If not already done so, bring your P&L and Balance Sheet up to date so you have the best idea of your financial position. Cloud accounting software such as Xero can help;
  • Businesses should assess their working capital position and ensure enough funds are available to cover a drop in sales, and upcoming liabilities such as salaries and VAT. Now may also be a good time to negotiate temporary credit terms with suppliers and speak to landlords about reduced or deferred rent;
  • Contact debtors and chase overdue invoices. Look at reducing credit days and credit limits.
  • Look to accelerate R&D claims;
  • Ascertain the nature of insurance policies that you have in place which could, in principle, cover business interruption, supply chain and other losses (including third party claims or losses incurred as a result of disrupted or cancelled business travel);
  • High levels of awareness around COVID-19 and resultant public concern has seen an increase in criminals using public health themed phishing emails to deliver malware and steal sensitive information. Staff should be advised of this and reminded of relevant processes for handing suspicious emails.

As developments unfold, we will make further announcements on our website and social media.

For further information, please contact us, or write us to audit@alyaauditors.com.

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