Insights

Going Concern Responsibilities of Management and Auditor’s Reporting

12 Jul 2024Assurance

A fundamental decision management must make when preparing financial statements is whether to prepare them on a going concern basis. Under the going concern basis,…

Deciphering Audit Trail: Frequently Asked Questions – Part III

30 May 2024Assurance

In our previous two articles on audit trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA) to mandate the use…

Recent Ind AS & IFRS Updates: 2023-2024 Financial Reporting

19 Mar 2024Assurance

Every year, minor amendments to the International Financial Reporting Standards (IFRS) are introduced by the International Accounting Standards Board (IASB) by way of annual improvements.…

Deciphering Audit Trail: Frequently Asked Questions – Part II

13 Dec 2023Assurance

In our previous article, the first of two installments on Audit Trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA)…

Deciphering Audit Trail: Understanding key intricacies and requirements – Part I

29 Nov 2023Assurance

Recently, India became the first country to introduce reporting requirements on the ‘Audit Trail’ to improve transparency and integrity of the financial reporting process.

Key takeaways from Ministerial Decision on Participation Exemption

26 May 2023Tax

As per Article 23, specified income from participating interest is exempt from Corporate Tax in UAE (CT). As per Clause 2 of the said Article,…