A risk-based approach to auditing financial statements involves identifying and assessing the ‘risk of material misstatement’ (RoMM) and responding to those risks to express an…
Insights
NFRA tightens its grip on the auditing profession
14 Nov 2024Assurance
A sound financial reporting system is a key contributor to economic development. The financial reporting system should be backed by strong standards (that are aligned…
SA 600 vis-á-vis ISA 600 on using the work of another auditor
06 Sep 2024Assurance
Companies expanding through acquisitions will generally have a lot of subsidiaries. These companies are required to prepare their standalone financial statements as well as consolidated…
Impairment of Non-Current Assets Under Different Frameworks
05 Sep 2024Assurance
General purpose financial statements of a Company that are so often used by various stakeholders such as the shareholders, prospective investors, regulators, employees, lenders amongst…
Key highlights of FTA’s guide on determining taxable income
09 Aug 2024Tax
The Federal Tax Authority’s (FTA) recent guide on determining taxable income provides valuable insights for businesses operating in the UAE.
Significant Changes in Capital Gains Tax and Buyback Rules
25 Jul 2024Tax
Nishit Parikh highlights the crucial updates from revamping the capital gains tax regime as mentioned in the Union Budget 2024. He acknowledges the government’s sincere…
Alert
Reassessment Controversy - put to an end!
07 May 2022Tax
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