Accounting involves the process of recording, summarizing, reporting and analyzing of the financial transactions of an organization for the purpose of legal compliance. This article extensively explains the scope of legal accounting. Key Features of Accounting and Legal Compliance The following are some of the key features of legal accounting: Preparation of books of accounts … Read more
Forensic auditing has become a necessary tool in uncovering fraud within specific industries of the corporate world today, especially real estate and manufacturing industries, whose investments are usually very huge. This case study takes you through forensic auditing, how it could unveil fraud at the UAE-based manufacturing firm, and presents how the judiciary intervened to … Read more
Forensic accounting may be defined as the use of accounting techniques and skills to analyze or investigate fraudulent practices, including embezzlement, money laundering, fraud, and misappropriation of funds. Forensic accountants reconcile statements to identify discrepancies and collate documents that provide substantial evidence in a court trial. What is Forensic Accounting? Forensic accounting is a specialized … Read more
The United Arab Emirates has turned into an international business destination, and it is no exception for entrepreneurs belonging to any industry, be it video gaming, online gaming, or sports wagering. Obtaining a gaming license in the UAE involves understanding the essential laws and other gaming regulatory requirements. Farahat & Co. is here to help … Read more
The Federal Tax Authority, UAE has recently released a Corporate Tax Guide (CTG) for the determination of taxable income. This guide provides clear instructions to businesses and taxpayers on how to determine their taxable income and calculate corporate tax in UAE under the UAE Corporate Tax Law. The companies must gain an understanding of the … Read more
If you are a corporate taxpayer, it is important to maintain accurate records of your bank-related details with the Federal Tax Authority (FTA). The FTA offers a full range of high-quality and integrated e-services to help taxpayers benefit from such services in the most convenient and effective manner. Such a service includes the option of … Read more