What is a VAT error, and how to correct it?
A “VAT error”, also known as “tax error, is an event that arises when a VAT-registered taxable person fails to set out the correct output VAT amount or fails to…
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Real Estate Sector: A Risk-Based Approach to Combat Money Laundering and Terrorist Financing
Money laundering and terrorist financing through the real estate sector is a growing concern. Criminals are using property deals to hide their illegal earnings or move funds without raising suspicion.…
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goAML Registration and Reporting 2025
Financial crime poses the most considerable risk. It not only damages people but also destroys systems as a whole. Unless registered correctly, your business (FIs, DNFBPs, VASPs) could be exposed…
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ADGM Approved Liquidators
Winding up a company can feel overwhelming. The paperwork, legal steps, and regulatory rules in Abu Dhabi Global Market (ADGM) aren’t easy to navigate. ADGM doesn’t allow just anyone to…
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The Role of Auditors in Evaluating Internal Controls
Internal controls are the backbone of any successful business in the UAE. It is the responsibility of management to establish, maintain, and monitor these controls, along with preparing accurate financial…
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Identifying and Mitigating Risks in Financial Reporting
Financial report errors can cost UAE businesses a lot of money as well as their reputation. Investors lose faith. UAE regulatory authorities look suspiciously. On the basis of erroneous data,…
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The Role of Technology in Auditing and Financial Reporting
Over the last two decades, technology has grown faster than ever. With advancing technology, the processes of auditing and financial reporting are also changing drastically. Now, the traditional processes are…
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A Beginner’s Guide to Financial Reporting and Analysis
For many businesses in the UAE, financial reporting can feel overwhelming. Terms like equity, cash flow, and profit margins might sound complex, but they are crucial to your business’s success. Unfortunately, a lack of…
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Common Financial Reporting Mistakes and How to Avoid Them
Your financial reports—profit/loss statements, balance sheets, and cash flow statements—are the foundation of every key business decision. But even the smallest mistake can lead to major consequences: inaccurate insights, regulatory…
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The Importance of Accurate Financial Reporting for Businesses
Running an organisation without accurate financial information is like driving a car with a completely bad-fitted speedometer. There is absolutely no idea about which direction or at what speed one…
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