How Automation is Simplifying Accounting in 2024
Accounting is a critical process that determines the life of a company in the UAE. Outsourcing the accounting process to accounting firms is essential for UAE businesses as they ensure…
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An Accounting Firm’s guide to Profit and Loss Statements
Business owners can successfully run a company by outsourcing their accounting requirements to leading accounting firms in Dubai. However, it is ideal for an entrepreneur to be familiarized with basic…
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Targeted Financial Sanctions in UAE: Challenges of Sanction Screening
Ensuring compliance with Targeted Financial Sanctions (TFS) requirements in the UAE is critical for financial institutions and Designated non-Financial Businesses & Professions (DNFBPs). However, the sanctions landscape is a minefield…
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Top Reasons Small Businesses and Startups need Auditors
SMEs account for nearly 95% of all companies operating in Dubai, contributing to around 42% of the emirate’s GDP. That makes SMEs the backbone of Dubai’s business landscape. Despite this…
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AML in UAE: Regulatory Impact on Financial Sector
The UAE has shown a strong commitment to combat crimes related to money laundering and financing of terrorism (ML-FT) by enacting robust regulations. The Federal Decree-Law No. 20/2018 Anti-Money Laundering…
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The Key Stages of Money Laundering and Ways to Combat it
The UAE has a strong law and framework to combat the menace of money laundering and financing of terrorism (ML/FT). The UAE’s Anti-Money Laundering (AML) law and related regulations require…
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AML in UAE: Guidelines for Filing Suspicious Transaction Reports
Financial Institutions (FIs), Virtual Asset Service Providers (VASPs) and businesses classified as Designated Non-financial Businesses and Professions (DNFBPs) are required to identify suspicious transactions and report them to the relevant…
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Best Practices for Setting up an AML Compliance Department in 2024
Businesses that are highly exposed to crimes of money laundering and financing of terrorism (ML/TF) are advised to set up an in-house Anti-money Laundering (AML) compliance department. AML compliance department…
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A Guide to External Audit Requirements in DAFZA
If you have a company in Dubai Airport Free Zone, you must get your books of accounts audited without fail. You need to get the books of accounts audited by…
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Key Bookkeeping Basics for Small Businesses in Dubai
Small business owners and startup entrepreneurs across the world are masters at creating innovative products, delivering unique services, building effective teams, and winning over customers. However, a great majority of…
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