AUDITING & ASSURANCE

Our objective of audit engagements is not only to provide our valued clients with an opinion on financial statements but also to provide them with constructive recommendations that will make their financial and accounting systems highly developed. We work along with our clients in pursuance of competence and excellence. We understand the necessity of auditors and advisors to be highly competent in identifying businesses strategies and replicating them into their approach. This not only improves efficiency but also enhances the quality of the service. Our audit emphasizes planning and conducting the work in accordance with International Standards on Auditing (ISAs) pronounced by the International Auditing and Assurance Standards Board (IAASB) under the auspices of the International Federation of Accountants (IFAC) and applicable requirements of the UAE laws, determining the key risk areas and issues critical to the audit and communicating results with suggestions to management.

Accounting helps businesses to keep track of their income and expenses. IFRS are principled based set of Accounting Standards followed by major economies for uniform reporting. We ensure that your organisation is complied with IFRS without cherry picking or incomplete application of such standards.

We assist you in reviewing VAT summary preparation and check the VAT compliance and reconciliation with financial statements. We help you to setup FTA approved systems which will generate all required reports. We not only provide professional advice service but we are also there to help you afterwards, serving as reliable support.

Corporate tax is a form of direct tax levied on the net income or profit of corporations and other entities from their business.

According to the UAE Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses (the “Corporate Tax Law”), businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.

We help our clients demystify the intricate and tricky tax rules particularly transfer pricing impact on the related party transactions. We advise and provide reports on the transfer pricing rules of UAE FTA.

The UAE introduced a Resolution on the Economic Substance on 30 April 2019, as part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union (“EU”) Code of Conduct Group on Business Taxation.

The Regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “Relevant Activities” listed below to maintain an adequate “economic presence” in the UAE relative to the activities they undertake.