Auditors in Dubai Archives - Ahmad Alagbari Chartered Accountant

30 Apr, 23

WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT

WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT Recently Credit Suisse Group, still reeling from significant losses tied to the 2021 collapses of Archegos Capital Management and Greensill Capital, disclosed in its annual report its internal control over financial reporting (ICFR) was “not effective” for the fiscal year ending December 2022. “Management did not […]

11 Apr, 23

HOW CAN ACCOUNTANTS USE CHATGPT

HOW CAN ACCOUNTANTS USE CHATGPT In today’s world a new wave of software is making ground-breaking history. ChatGPT, from AI startup Open AI, is an AI-powered chatbot whose level of sophistication has taken the business world by storm like no other chat platform before it. What is Chat GPT? ChatGPT is an Artificial Intelligence (AI) […]

03 Oct, 22

LETTER OF CREDIT -TRADE FINANCE SOLUTION

WHAT IS A LETTER OF CREDIT? A Letter of Credit (LC) is a document issued by a bank or other financial institution to another party that provides evidence of financial obligations. It can be used in international trade between parties who have no direct contact, such as buyers and sellers that do not have a […]

16 Sep, 22

UAE-Dubai Government Issues New Law on Musataha Rights Over Commercial Lands

Government of Dubai has issued Decree No. 23 of 2022 (the “Decree”) to control the granting of Musataha rights in the Emirate of Dubai in July 2022. Purpose of the Decree The objective of the Decree is to regulate & control the use of commercial and industrial land in the Emirate and to enhance investments […]

29 Aug, 22

DETECTING AND DETERRING ASSET MISAPPROPRIATION

What is Misappropriation of Assets? Asset misappropriation fraud involves third parties or employees in an organization who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud. Misappropriation can occur at any stage of routine business operations; before assets are recorded, while assets are being retained and […]

17 Aug, 22

SPOTLIGHT ON INVENTORY FRAUD WARNING SIGNS AND PREVENTIVE MEASURES

Inventory is one of the main targets of fraud. Some companies are more at risk than others for instance retail & manufacturing business are at high risk as inventory is typically the largest value of assets for retail and is huge portion of the asset for manufacturing businesses. However, for service companies with minimal inventory […]

15 Aug, 22

GUIDE TO SPOT INVOICE FRAUD AND ITS PREVENTION

Fraud can happen at any time and to any company. Do you know the ways to protect yourself and your business? Organizations throughout history, regardless of size, have been susceptible to some form of invoice fraud. Research reveals small and medium-sized businesses are at more risk of being targeted for invoice fraud. However, corporate giants […]

02 Aug, 22

NEW DUBAI REAL ESTATE LAW TO BOOST PROPERTY INVESTMENTS

Property is a vital sector of Dubai’s economy that has been performing well. In June 2022, the Dubai real estate market recorded AED 22.7 billion sales – highest sales figures in the last 13 years – and reaching almost 71 percent of the total 2021 sales volume, according to Dubai Land Development (DLD) data revealed. […]

28 Jul, 22

GUIDE TO INVOICE DISCOUNTING

What is Invoice Discounting? Invoice Discounting refers to the form of the invoice financing where the businesses borrow the money in the form of a loan from the finance company by keeping the amounts due from customers as the collateral, i.e., accounts receivable from the customer is used as the collateral for the loan and […]

27 Jul, 22

WHY AND WHEN TO DO CHEQUE DISCOUNTING

WHY AND WHEN TO DO CHEQUE DISCOUNTING? Are your cheques drawn from reputable organizations? Do you need to boost your liquidity for sustained operations in your business? Cheque discounting solution enables you to access cash for your business requirements while you wait for your cheque(s) to clear. In today’s business environment, high liquidity is particularly […]

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