What is the Profit Margin Scheme? UAE VAT

Profit Margin Scheme

When filing your VAT return, you would have noticed a question asking if VAT was charged under the profit margin scheme. Do you know what it is, or what to answer in your tax return? If you do not charge VAT under the profit margin scheme you must make sure you correctly answer “no” to […]

How to Select an Auditor or Audit Firm in UAE

Audit Firm in UAE

It’s not about what comes up as a ‘Top Audit firm in UAE’… For SMEs or startup companies looking for a good auditor for their business might be harder than it seems. Making the right choice from the Google Results of Top Auditors in UAE is very important, click here to see how useful it […]

7 Compelling Reasons Your Startup Needs an Audit

Audit

If you’re a start-up or small or growing businesss, you would better know what an audit is or why your company needs one. Over the past three decades, as auditors for clients from SMEs and big corporations, we consistently find a lack of knowledge on what the auditor (us) actually does for a business. There […]

AUDITOR'S OPINION

AUDITOR'S OPINION

An Auditor’s opinion is presented in the audit report. This opinion is established after the independent examination of the financial statements of the entity, after acquiring sufficient and appropriate audit evidence and conducting audit procedures. An Audit opinion can be of 3 types:

Audit evidence – Bank Confirmations

AUDIT EVIDENCE - BANK CONFIRMATIONS

With the ever-increasing complexity of the business, the importance and relevance of audits have increased over the years. Auditing is the independent examination of the financial statements of a company irrespective of its size or legal form, profit-oriented or not, in order to express a true and fair opinion thereon.

Audit Balance Confirmations

AUDIT BALANCE CONFIRMATIONS

Auditing is an independent examination of the financial statements of an entity, irrespective of its size or legal form, for the auditor to express an opinion thereon. An auditor would acquire sufficient and appropriate audit evidence in order to draw a reasonable opinion on the financial statements. An Audit Balance confirmation is audit evidence received […]