2023 | Page 2 of 2 | APT Global Firms

27 Nov 23

The Significance of Assertions in Financial Audit Integrity

Audit assertions are pivotal elements in auditing, representing management’s implicit or explicit claims about the financial information presented in an organization’s financial statements. These assertions guide auditors in evaluating the reliability and accuracy of financial data. However, while they serve as crucial tools in the auditing process, they also come…

22 Nov 23

The Significance of Assertions in Financial Audit Integrity (Part i)

Audit assertions form a cornerstone of the auditing process, serving as essential criteria for evaluating the completeness, accuracy, and validity of financial information presented in an organization’s financial statements. These assertions, fundamental to auditing standards, guide auditors in assessing the reliability of financial reporting and ensuring the integrity of financial…

19 Nov 23

Expectation Gap in External Audits (Part iii)

The expectation gap in audit has long been a topic of discussion and concern within the financial and auditing sectors. It refers to the difference between what the public and stakeholders believe auditors should achieve and what they actually can and do achieve. This gap can lead to misunderstandings, mistrust,…

16 Nov 23

Expectation Gap in External Audits (Part ii)

The audit expectation gap can be categorized in three distinct dimensions: the knowledge gap, the performance gap, and the evaluation gap. This article explains each dimension in detail, shedding light on their individual characteristics and the collective impact they have on the understanding and perception of external audits. I. The…

14 Nov 23

Expectation Gap in External Audits

The expectation gap in external audits is a complex phenomenon that has garnered significant attention in the realm of financial reporting and auditing. This article delves into the multifaceted nature of the expectation gap, examining its origins, its implications for stakeholders, and proposed strategies to bridge this divide effectively. Defining…

12 Nov 23

Understanding UAE Transfer Pricing Regulations

The United Arab Emirates (UAE) has implemented a robust Transfer Pricing (TP) regime, in line with international standards such as the OECD TP Guidelines (OECD TPG) and BEPS. This article delves into the intricacies of Article 34, 35, and 36 of the UAE Corporate Tax Law, its implementing decisions, guide…

12 Nov 23

Small Business Relief under UAE Corporate Tax

The UAE Corporate Tax Law, in its pursuit of fostering a thriving business environment, introduces Article 21, known as Small Business Relief. This provision aims to extend corporate tax relief to Resident Taxable Persons whose revenue falls below a specified threshold. Small Business Relief is a strategic move to support…

Year: 2023

The Significance of Assertions in Financial Audit Integrity

The Significance of Assertions in Financial Audit Integrity (Part i)

Expectation Gap in External Audits (Part iii)

Expectation Gap in External Audits (Part ii)

Expectation Gap in External Audits

Understanding UAE Transfer Pricing Regulations

Small Business Relief under UAE Corporate Tax

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