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Audit intelligence for UAE businesses.
Regulatory updates, sector analysis and audit perspectives from the RAA team — keeping you informed in a fast-moving market.
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IFRS 18: A new era for Financial Reporting: What you must know before 2027
IFRS 18 should be a wake-up call for finance teams. For many businesses, the new standard will expose reporting practices, performance measures and financial statement structures that were designed for a different reporting environment. The introduction of mandatory profit subtotals, stricter classifications and enhanced disclosure requirements means organisations must start preparing well before the 2027
Latest Articles
UAE Corporate Tax Update — Stop and Rethink on the decision to Tax Group under the UAE Corporate Tax
On 31 January 2022, the UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 01
UAE ESR Update: ESR Audit — What Process?
With the issuance of the new Cabinet Resolution No. 57 of 2020 concerning Economic Substance Requirements (“Regulations”) on 10 August 2020, the Federal Tax Authority (“the FTA”) was appointed as
Newsflash: If a UAE SME lets its financial control become ‘financial out-of-control’, the risks can be existential
In a long career in finance and accounting, I reckon I’ve pretty much seen it all…. and, frankly, some of it was not very pretty! For every role where my
Newsflash: Integrating Strategy, Business Plans and Budgets
In the UAE, as in other countries, businesses too often prepare a budget without first giving due consideration to strategy and medium-term business planning. This is particularly the case for
Newsflash: The Benefits to a UAE SME of a Non-Executive Director with a Financial Background
Although non-executive directors (NEDs) are only a legal requirement in the United Arab Emirates for joint stock companies (JSCs), they can be of significant benefit to small and medium-sized enterprises
Newsflash: Freeing-up UAE entrepreneurs to concentrate on business-critical activities
Like their counterparts in other parts of the world, UAE business leaders are constantly striving to maintain focus on revenue-earning and business-critical activities. Yet many are distracted and deflected from
Newsflash: A UAE start-up’s need for CFO Support
UAE government measures which have removed much of the red tape that previously hampered start-ups and which now allow 100 percent foreign ownership of companies have created an ideal incubator
February 10, 2022
Read more about Newsflash: A UAE start-up’s need for CFO Support
Newsflash: Liquidation process for UAE registered entities — An overall view
Liquidation is the process by which a company as separate legal person is brought to an end of its life through a formal process specified by the related jurisdiction. All the assets of the
UAE VAT Updates – Timeline for Re-determination of Administrative Penalties extended until 31st December 2022
The UAE Cabinet issued Cabinet Decision No. 108 of 2021 (Decision) amending Article 3 of Cabinet Decision No. 49 of 2021 to extend the timeline for the re-determination of administrative
UAE TAX Updates – UAE TO INTRODUCE CORPORATE TAX FROM JUNE 2023
On 31 January 2022, the UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (UAE CT) on business profits effective for the financial years starting on or
UAE VAT Updates – Cabinet Decision on Controls and Procedures for Instalment Payment, Waiver and Refund of penalties
The UAE Cabinet issued Cabinet Decision No. 105 of 2021 (Decision) on 28th December 2021 that stipulates controls and procedures for installment payment, waiver, and refund of administrative penalties (penalties). This
Newsflash: Challenges with accounting for cryptocurrencies
Cryptocurrencies are considered the future of the banking and financial system as there have been a lot of technological developments around cryptocurrencies during the last decade. However, there are still
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