In business spheres, revenue recognition is essential as it sets the foundation for financial statements that provide insights into a company’s financial performance. In Dubai, a revenue recognition standard IFRS …
Read MoreThe Importance of IFRS 15 Revenue Recognition for Businesses in Dubai
IFRS 16 is applicable for annual reporting periods commencing on or after January 1, 2019. The purpose of IFRS 16 is to provide data that accurately depicts lease transactions, timing, …
Read MoreThe Impact of IFRS 16 on Leasing for Businesses in Dubai
IFRS 16 has been effective for some time now. And companies including audit firms in Dubai are numerous questions regarding its implementation. This guide will highlight some common issuers company …
Read MoreTop Issues Audit Firms in Dubai Experience When Implementing IFRS 16 Leases
IFRS 10 is an international accounting standard that guides the basis of consolidated financial statements. Dubai has adopted IFRS 10 to correspond its financial reporting with international superlative practices. This …
The impact of IFRS 16 Leases on financial statements and the challenges of complying with compliance requirements has been the focus of much of the discussion that followed the announcement …
Read MoreOpportunities with IFRS 16 That Audit Services in UAE Should Know
Cost Audit is a very important tool that can be used by the management to understand the present situation of the business and will also help in ensuring that the …
Read MoreWhen Should UAE Firms Consider Conducting Cost Audit
A statutory audit in Dubai is carried out by autonomous financial auditors who are unrelated to the company and have no invested interest in the company’s performance. It is much …
Read MoreQuintessential Documents Required for an Audit of a Company
Regular auditing and account maintenance contribute significantly to the success of a business. Audit firms in Dubai ensure your company’s compliance with UAE accounting laws. For auditing the accounts of …
Financial statements produced in accordance with International Financial Reporting Standards (IFRS) must identify parent-subsidiary relationships or when one business administers another. A party’s reported results, cash flows, and financial position, …
Read MoreAn Auditor’s Guide to International Financial Reporting Standards (IFRS 10)
The Dubai International Financial Centre (DIFC) was established as a multinational financial center. It allows financial businesses to enter and develop in the rising market in the region. The DIFC …
Read MoreDIFC (Dubai International Financial Centre) Audit Requirements