How to Find a TRN Number of a Company The TRN, Tax Registration Number, is a 15 digits number that is attained after the registration of VAT of a business which helps in differentiating it from other companies. VAT, Value Added Tax, is a form of indirect tax that is applied to the acquisition of[...]

IFRS 15 Revenue Recognition Disclosure Quality Slated by FRC The review by FRC was particular with the ways in which companies are submitting reports under the latest IFRS, International Financial Reporting Standards. After the reviews of the 1st year of operating, it was revealed that there was much space for improving the value of disclosures.[...]

Latest Form of eDirham system introduced by FTA for payment of taxes Every day, we see our world morphing into a more developed and digitized one. The UAE banks are not behind any other department when it comes to this technological advancement. In an attempt to make tax collection more efficient and without intruding on[...]

Dealing with Variable Consideration on Discount and Volume Rebate as per IFRS 15 Rebates are offered to consumers for sales that have agreed upon relationships like volume related to achievements. Discounts and rebates are differentiated based on their timing. Although they are similar in terms of pricing perspective, they are different in terms of the[...]

Fraud Examination – The Duty of Forensic Accountants Money can be a critical part of any illegal activity. One example of this is online fraud, which is the most recurring crime that usually involves identity theft. There are several forms of fraud, from upscale extensive corruption to small thefts. Legal cases, which include financial crime,[...]

Financial Auditing in 2021 – Ten Advantages for a Company Conducting a financial audit has now been an important part of every company’s life. Audits are held by organizations worldwide, irrespective of the type or size of the business. Some of the basic reasons behind auditing are to prevent and detect any illegal and wrong[...]

During Pandemic, Private Bank Deposits in UAE rise in three months by $4.2 million The latest data suggests that an increase of AED 15.6 billion cash landed in the private accounts in banks within a few months. It has been revealed in a report by The UAE’s Central Bank of the UAE that this year,[...]

Task team formed by the Accountants & Auditors Association (AAA) of the UAE to examine COVID-19 Financial and Economic challenges The Accountants and Auditors Association (AAA) of UAE, has made a team which will be examining and studying the financial and economic impact that the pandemic has had. This initiative was funded by the SCA,[...]