As we all know risk management is the process of mitigating the uncertainties along with that it also helps a company to gear up with required strategies and plans to identify the potential risks and tackle them in advance...
Risks are an unavoidable part of a business, it is associated with the possible events or situations which threaten the achievement of organizational objectives. In simple words risks can be defined as an event or circumstances that affects the...
Introduction of new laws and policies by government: If the government introduces any new law or policies then there is a need to conduct an internal audit to analyze which part of the department needs to be rearranged to...
Before inducing any investments: If you are planning to invite individuals or other companies to make investments in your company, then they may be willing to know about the company’s performance and efficiency, which can be provided in the...
Whenever you feel weak, you approach a doctor for a health checkup, and the doctor examines your whole body to find out the reason for the weakness. Similarly, when your business undergoes any challenging circumstances it needs to be...
Due to the dynamic nature of the business, the company may focus on adopting more strategic measures in order to provide security and privacy to the investors and other shareholders of the company. For such purpose it is very...
Some of the main skills and ability that an audit accountant must have is given below• Extracting informationThe audit accountants must be able to extract all the required information. They must examine all the stones and conceive all those...
• Seek an expert advice Seek expert advice, at least for the first 2 returns. Employ a tax accountant or outsource the VAT accounting function to a tax professional. If you want to file yourself or assign the job...
For each Tax period, a taxable person will be required to submit a tax return that contains details regarding the supplies made or received by the taxable person • sales and other outputs• purchases and other inputs The due...
Once you have registered for Value Added Tax in the UAE, you are required to file your VAT return and make related VAT payments. A registered person’s tax liability is simply the difference between the output tax payable for...