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Auditing, VAT, Accounting & Business Consultancy Services in UAE
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Auditing, VAT, Accounting & Business Consultancy Services in UAE

Auditing, VAT, Accounting & Business Consultancy Services in UAE

We offer our years of experience for your business.

Contact Us Today
Auditing, VAT, Accounting & Business Consultancy Services in UAE
About Us

We’re a team of the dedicated and experienced accounting and bookkeeping firms in UAE you can trust. Our services are aligned with respect to Virtual Accounts Office so that you can focus on running your business.

About Us SARWAR ALI - FOUNDER & CEO
Virtual Accounts Office

Share the burden of your accounting and business administration needs – from payroll, to invoicing, and bookkeeping– everything in less than the cost of an employee.

Strategic Thinking

What makes Risians different is our commitment to ensuring every one of the services we provide contributes to the realisation of your strategic business or personal plan.

Year-End Accounts & CT Returns

Clutter-free and cost-efficient services for year-end accounts and CT returns to fully leverage legitimate exemptions.

Our Expertise
Our Expertise

We specialize in tailor-made solutions for small and medium sized businesses. Let us take care of all your auditing, accounting and tax requirements, whether required by statute or for the management of the business. We can do it all:

  1. Auditing
  2. Bookkeeping
  3. Statutory accounts
  4. Tax returns
  5. Vat
  6. Added-value management accounts
  7. Ad-hoc cash and profit forecasting

We can also prepare and submit self-assessment tax returns for the business owners. Each of our services can be delivered from our office or we can visit your premises if you prefer. What else would you like us to do? Please ask

ASK US
PAYSLIP PROCESSED
5000PAYSLIP PROCESSED
HOURS OF BOOKKEEPING
15000HOURS OF BOOKKEEPING
YEARS OF WORKING EXPERIENCE
10YEARS OF WORKING EXPERIENCE
HAPPY CUSTOMER
1200HAPPY CUSTOMER

We take pride in calling ourselves full administration CPA firm having expertise in tax management, bookkeeping and counseling needs of people and organizations. Our clientele from individuals to the small-scale enterprise, LLCs, corporate houses, and traverse over a few unique businesses.

  • 2019
    INSOLVENCY & BANKRUPTCY SERVICES We offer "Stress & Risk Mitigation Plan" to prevent your business from going into default, identification & disposal of bad assets, Financial Cashflow ensuring avoidance any events of defaults.
  • 2004
    COVID-READY SERVICES We help businesses of all sizes survive the impact of COVID-19. Our financial & business planning, budget forecasting and Covid-19 subsidy guidance will help you navigate your way to success.
  • 1994
    BUSINESS CONTINUITY PLAN We can identify potential risks to these critical pieces in your business and prepare to recover as quick and easy as possible. This will have a contingency plan along with a financial action plan that is easy to execute in worst case scenarios.
  • 1992
    IT’S PERSONAL We value your financial data and ensure your data is leak-free, we’ve got your back.
  • 1992
    SAVE TIME & MONEY We handle everything, get free of data entry or number crunching. Affordable fixed monthly pricing – no hidden costs or surprises!
  • 1992
    SPECIALIST SERVICES We employ the best software and processes that includes Strategic Planning and Forensic Accounting.
WHY CHOOSE RISIANS
WHY CHOOSE

RISIANS ACCOUNTING SOLUTIONS

WE PROMISE

Dedicated Support

We’ll assign you an expert, qualified accountant who’ll get to know you and your business inside out.

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Technical Expertise

We leverage some of the best & world-class technologies and have hands-on experience working with the leading software solutions as well as processing software while catering to the needs of our clients.

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Internal Audit

We ensure that your organization’s risk management, governance and internal control processes are well aligned. Our internal audit process have qualified, skilled and experienced professionals working in tandem.

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Taxation Services

We assist companies of all sizes navigate complexity and nurture with insightful, practical tax advice. Alongside catering to tax professionals in India we have clients in other countries also.

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Data Security

We follow a very stringent regulations and guidelines that guard our professional approach and keeps the network intact and protected. We ensure the safety of your financial data at each step.

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Transparent Pricing

Our pricing model is competitive and very flexible, with no hidden extras. Sign up online and get up and running within minutes.

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OUR PROCESS

ANALYZING FINANCIAL TRANSACTIONS
  • 2004
    ANALYZING FINANCIAL TRANSACTIONS We kick-start with financial transactions and entering the ones pertaining to the business entity into the accounting system.
  • 2004
    JOURNAL ENTRIES To simplify this process easier, we use a special journal to record recurring transactions like purchase history, sales, cash receipts etc.
  • 1994
    UNADJUSTED TRIAL BALANCE We rectify the trial balance that contains errors, this include errors such as errors caused by double posting or due to the omission of entries.
  • 1992
    CLOSING ENTRIES Finally, we prepare a post-closing trial balance to test the equality of both the debits and credit amounts. Alongside, we handle the financial statements and bookkeeping.
QUALIFIED

TEAM MEMBERS

FOUNDER & CEO
SARWAR ALI- FOUNDER & CEO
risiansANUSHA KAVRA - MD
ANUSHA KAVRA - MANAGING DIRECTOR
risiansABBAS - BDM
ABBAS - BUSINESS DEVELOPMENT MANAGER
risiansBHAWNA - BDE
BHAWNA - BUSINESS DEVELOPMENT EXECUTIVE

LATEST NEWS

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New Rules Introduced Regarding Dubai Government Accounting System

All the financial accounting functions are executed by the Government department through the approved system, application, and smart financial solution.

This Resolution is issued by...

2021-03-10 WRITTEN BY Abbas READ MORE
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UAE fight Against the laundering Money and terrorism financing

The United Arab Emirates is a prominent financial hub in the world.  Dubai Leads the Plenty of international business and international business interests in the economic zone. Due to this profile, financial criminals can target the dubai to do financial activities and convert black wealth into white. So now, the UAE government urges the Central Bank of the UAE (CBUAE)to set up the fight against the Lanudring money and terrorism financing.  Then the Central Bank introduced the surveillance agenda against the anti-money. The Central Bank of the UAE held the first compliance officer forum to create a dialogue between the CBUAE and chief compliance officers of all banks to interact regarding the exception from compliance functions and bank risk management. 

The governor of the Central Bank of UAE met with over 100 chief compliance officers and also with some other senior compliance professionals in the presence of the chairman of UAE banks federation (UBF) Mr. Abdul Aziz Al ghurair.

In the meeting several discussions were done, mainly emphasizing the bank need to access the scope and skills of their compliance function and property embed the compliance risk within the overall risk appetite framework. During the forum, CBUAE introduced the surveillance agenda against the laundering of money and terrorism financing with the particular focus on obeying the action that was recommended by the (FATF) Financial Action Task Force.

The UBF’s Compliance Committee repeated its commitment to support the CBUAE and other authorities to make a stronger anti-money laundering framework.

In the meeting alhamdi said, UAE is strongly committed to applying the FATA standard for a safe and secure financial system in the UAE. We encourage the financial institutes to keep their focus on money laundering and terrorism financing. The chief of compliance officers is also the partner of this journey. We are expecting that CBUAE will provide a solid platform for regulatory dialogue with the industry.

 

2021-02-23 WRITTEN BY Abbas
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How Audit Firms Can Help You to File ESR Notification & Report In Such a Short Notice?

Article 8 of the Cabinet Resolution 57 of 2020 sheds light on the notification and reporting requirements that the entities must meet to comply with the ESR. It states that every Licensee is now required to file annual ESR notification to the relevant Regulatory Authority. Audit firms in Dubai will assist you in filling the notification with the following mandatory details :

  1. Whether the business entity has carried out a relevant activity or not
  2. Whether the company has generated any income from the relevant activity

 

The notification will be filed through the Ministry of Finance's dedicated online portal. The notification will be processed between the regulatory authorities and the Federal Tax Authority (FTA), which is the National Assessing Authority for the ESR.

The FTA, in its capacity as a National Assessing Authority, will oversee compliance and control of the Updated ESR. FTA, among other things, will also assess if the Licensee has met the Economic Substance Test. It will also decide the necessary course of action to follow if your entity fails to meet the ESR test.

2021-01-09 WRITTEN BY Khaleej Times
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ESR Filing Deadline Extended Till January 31st, 2021

The Economic Substance Regulations (ESR) compliant has announced the extended its deadline by a month in UAE. It came as a relief to all the businesses as The ESR Notification and the ESR Report were earlier due on December 31, 2020 and can now be submitted on or before January 31.This extensions should be seen as an opportunity to get things done on this period. Businesses were caught in a year end rush having submitted the ESR notifications in June last and the amendment came in September. They had bear extra advisory costs and arbitrary data calculations. This will give the business owners to get their reports in order and make them ESR Compliant.

In this extension period businesses can make the best use of this period to examine ESR implications and undertake the compliance work accordingly. Businesses that have already submitted the Notification or the ESR report will also get the option to amend the submission. Also, these corrections will not result in any kind of penalties. The ESR Compliance Requires the board meeting reports of organizations and if the meeting were not held in person or overseas, then it demands a clarification. The information in the ESR report is very critical for the authorities to check if all the ESR Requirements have been met. The data in the report should be apt and well explained in the report. 

2021-01-05

OUR BLOG

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Economic Substance Regulations In UAE

The European Union (EU) has blacklisted those countries that don’t have criteria to meet with EU fair taxation, tax transparency, and measurement of the (BEPS)   base erosion of profit shifting.

Economic Substance Regulations: In 2019, the UAE government has introduced the Economic Substance Regulation (Cabinet of Ministers Resolution No. 31 of 2019), in UAE for un-blacklisted from the list...

2021-04-07 WRITTEN BY Mr. Abbas READ MORE
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Guide For VAT Deregistration UAE Under VAT Law

VAT Deregistration means to cancel their VAT registration with FTA.  I noticed in the market there is a lot of confusion going on related to vat registration. Let’s understand about Deregistration. Suppose Business is registered under the VAT but businesses stop making taxable transactions. Then it’s mandatory for a business to cancel their registration with FTA (Federal Tax Authority). The business has to submit the application for deregistration  With the required documents to FTA, then FTA will cancel the registration. 

Deregistration is important as VAT registration and businesses should have a good understanding of which circumstances they should apply for deregistration otherwise they will get heavy plenty from FTA for late application for VAT deregistration. Businesses must apply for VAT deregistration within 20 business days of becoming eligible for  VAT deregistration. If a business gets late then has to pay AED10,000 plenty that is charged by the FTA.

The Tax payable business must know all the procedures of the  Deregistration. The expert advice of the best VAT consultancy services should be taken to know how to register or deregister. On time deregistration and in the right way prevents the plenties.

 

VAT Deregistration Eligibility

It is an online process. Businesses and individuals who are registered can apply for deregistration in two situations.

  1. After registering with VAT If the business annual turnover is not above AED 187,500, They can apply for the Deregistration.
  2. If a business is no longer dealing with the taxable supplies then they have to apply for the deregistration.

Under FTA guidelines Deregistration there are two norms for deregistration.

  1. Compulsory VAT-Deregistration
  2. Voluntary VAT Deregistration

Compulsory VAT-Deregistration

The business tax payable transactions are below the voluntary registration threshold limit. In this condition, the registered business and individuals become eligible for the Compulsory VAT-Deregistration. Businesses must apply for the deregistration to avoid the plenties.

Voluntary VAT Deregistration

The business applied for the Voluntary registration on 1st April after 12 months on 31st March business not made tax payable transaction equal to AED 187,000, The business and individuals shall analyze and evaluate the tax payable transaction for the next 30 days if the taxable supplies will exceed then they can apply for VAT Deregistration in the next 20 days.

 

Guide To Apply For VAT Deregistration

It’s an online process and easily accessible with the FTA portal. To apply for the VAT deregistration, Companies and individuals have to submit the application form to FTA along with required documents and the valid reason then FTA will verify the reason and documents and If the reason is valid then FTA will approve the Deregistration. FTA approves the status of the return, Outstanding tax Payment, and any plenty that is pending. If FTA found any outstanding and plenty then you have to clear them otherwise FTA will not approve the deregistration.

 

Deregistration For VAT Group

The Group vat deregistration is similar to the individual’s deregistration. There only Criteria apply for it.

  1. VAT Deregistration approves when the group is no longer meets the considered conditions.
  2. The tax status of the group may lead to tax evasion then the FTA approves the Deregistration 
  3. If the constituent member of the company is no longer financially associated with the group.

 

Procedure of the VAT Deregistration

Step 1- You have to login into your FTA account. On the homepage, you can see the option of Deregistration.

Step 2 - Click on the Deregistration button then the form will open. Fill the form correctly and send it for review and approval.

Now you have applied for the  VAT Deregistration successfully. FTA will review the application and then confirm it. When FTA approves the Deregistration, you can check the status there will be pre-approved status at the place of the VAT Deregistration. Now you have to submit the final return, after that, you have to clear all the outstanding liabilities in order to complete the VAT Deregistration process. 

Hope this short guide helps you. If you have any questions and doubt feel free to reach risians accounting. Risians accounting is a certified and FTA-approved accounting firm in dubai. Allow us to take care of your business accounting, VAT registration and deregistration, auditing, and other accounting work.

 

 

 

 

 

2021-03-31 WRITTEN BY Mr. Abbas
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What is the Difference Between Internal And External Audits?

Being the best accounting firm in Dubai, We are asked by every client that what is the difference between the internal and external audit. So today, we are writing about the internal and external audit differences and similarities. Before start let’s take a look at what is auditing. 

Auditing is the process of inspection and evaluation of the various accounts, a financial statement, etc. To ensure that all the business management accounts are recorded systematically and accurately in the proper manner of accounting law and regulation. By auditing process, auditors detect fraud, error, etc, and save the management or company from potential loss and harm.

 

Purpose of Auditing

The purpose of the auditing is to review the information is right and accurate or not, that is presented in the accounting books and financial accounting books. The presented information in cash flow, balance sheet, income statement, etc are matching right or not. As per Government accounting standards, the auditor evaluates the financial report of the organization. The main purpose of auditing is to find any mistake, fraud, a loophole. If the accounting system is not working as per government law and management or company policy then have to face any loss, harm, and plenty from the government. Well, the future is uncertain nobody can judge that what will happen next? The auditor do a prediction for the organization by a current and previous financial statement and give the opinion. Now you are thinking one side you are saying future is uncertain and now your saying auditor predict the future of the company by the financial statement. Well, We are 100%  agree future is uncertain but the auditor shares their opinion by evaluating the past and current financial health and give advice for accomplish a company-oriented goal or define a new goal. The auditor’s advice helps the organization to take more control over the work and be more productive effectively.

Auditor suggestion is very important for organizations and single-owner businesses.

  1. It helps in achieving the goal or set a new goal.
  2. More control over the business
  3. Save business from fraud.
  4. Auditor report is very helpful for getting fund from investors, bank, etc.
  5. Save the business from the government plenty and legal action against the business. 

 

Generally, auditing is two types are:-

  1. Internal Audit
  2. External Audit

Internal Audit 

In an internal Audit, the Auditor audit the internal environment of the organization and make sure that all the work is going as per rules and regulations, increase the control over the internal environment and make the production department more effective. The auditor gathers all the information and shows the report that contains how business is going, where is a mistake, error, fraud, risk area, etc, how we can reduce the risk, and how we can be more productive. The internal auditor also makes sure that all the implemented policies are working properly.

External Auditing

External auditing is an independent evaluation of financial statements. External is done by the independent outside person of the organization and plays a critical role. The interest of conflict is less likely to happen as compared to an internal audit. External Audit provides valuable reports for business and government. The purpose of external auditing is to review business account to show that the business account is accurate and complete.

 

Internal V/S External Auditing

 

 

Internal Audit

External Audit

Meaning

It’s a continuous process of weekly, monthly, quarterly, and yearly. Performed by the internal audit team of the organization.

It’s conducted by an independent firm of auditing.

Report

An internal audit report is used by the management.

An External audit report is used by the stakeholders.

Opinion 

The opinion is provided to make operation more effective. 

The opinion is provided on the truthfulness and fairness of the financial statement of the company.

Period

Regular Process

Once in a year.

Obligation

According to the organization’s rules and regulations.

According to the UAE ACT.

Purpose

Review the business activities and control over the business.

Check the validity and accuracy of the financial statement.

Range

Management decides the range of the internal audit.

It’s decided by the as per UAE government laws and rules.

 

 

Your Best Auditing Firm - Risianss Accounting 

Being a leading audit firm in Dubai, we have a special audit team who have 20+ years of working experience. Our auditing team provides support for your business accounting and management solution and cover advice & guidance. It doesn’t matter what is your need relating to auditing and accounting. We aim to provide our client’s full insight into their corporate strategies, business processes, and financial reports and deliver tailor-made solutions. Risians Accounting is a registered auditing firm in Dubai. Our Methodology of auditing will minimize your business routine office work and make work more productive effectively.

 

 

 

 

 

 

2021-03-23 WRITTEN BY Mr. Abbas
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Why Should You Get Tax Agent Service in Dubai?

In the UAE tax agents have been working here for many years to provide legal support to the businesses, but after the introduction of the VAT tax in Dubai on 1st Jan 2018, the demand for the tax agent in Dubai increased rapidly. 

Many issues and difficulties might affect your business badly. So, FTA (Federal Tax Authority) encourages the business owner to hire the tax agent. The tax agent helps the business to run a business smoothly. In UAE, There are many tax-certified agencies, you can hire them and take their services. But Under the roof Risians Accounting & Auditing, you can only get the best to best Tax Agent Service in Dubai. We have top certified players for taxes and have decades of working experience in many different industries and projects.

Our tax agents first understand the framework of business; give advice and assistance for individuals and companies for tax filings and returns. Our consultant discussed every single step deeply which would help the company in saving money and payment of unnecessary taxes along with following government rules and regulations.  

Recommendation: - You can meet with plenty of individual tax agents and tax agent agencies. But you should hire only the perfect tax agent for your business industry. Agent or agency should know your business and should have working experience. To know about this, it’s your responsibility to ask them questions relevant to your business tax-related or accounting. By only doing this you can hire perfect service. Don’t think this and that agent or agency demanding a low or high price. Keep in mind knowledge and experience is important.

 

Why should you hire a tax agent or agency?

  • Make you understand the government policy and regulation because the tax policies are typical only tax agent can understand the policy and those who have only deep tax knowledge otherwise people get confused.

  • Tax agent works as an intermediate between the FTA (Federal Tax authority). Keep the business true with the tax system and increase the awareness regarding tax.

  • Tax agents help businesses in saving money on tax legally.

  • Tax agents always give suggestions and recommendations to run a business smoothly and get the made changes in the business according to the new and existing tax policies.

  • Tax agent consults the business for the registration on the time and ensuring that they meet the registration criteria including Tax Group registrations.

  • Tax agent shares their work experience to make business more profitable. 

  • If a business doing any illegal activity and taxation practice so tax agents can detect it easily and save you from potential legal troubles. For doing business smoothly and keep your business profile clean you need a certified professional tax agent.

  • Tax agents check the records, files, and documents that are maintained by the taxable person for accuracy and also review the tax returns filed.

  • We can represent the agent as a tax payable person in case of FTA queries while auditing. But tax agents should know the Arabic language so that they can interact with FTA.

  • By hiring a tax agent we save tons of time because you don’t need to worry regarding the tax filing and return. A professional Tax Agent managing the part of taxation.

   

Certified Tax Agent 

Is not easy to become a tax agent in UAE by FTA? You have to pass so many exams and meet requirements.

Requirements to be a Tax Agent are following:-

  • FLuency in Arabic and English
  • The candidate should have a bachelor or master degree in accounting or tax or law
  • Should have 3 years of working experience in accounting or tax or law. 
  • Don’t have any criminal record.
  • The candidate should be physically fit.

If you are looking for the best tax agent in the UAE so, a Risians Accounting & Auditing Firm will be the best option for you. If you have any questions in your mind related to the tax, accounting, and tax agent so feel free to call us we will assist over the call that will be free. 

2021-03-20 WRITTEN BY Mr. Abbas
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RISIANS

My experience in working with this team is very much a positive one. Their professionalism is refreshing. Thank you for making the process a very pleasant experience.

Ms. Arshameh Parmoun Tag Properties
RISIANS

We have been working with RISIANS Chartered Accountants on a couple of assignments. At all times they are professional, organized with whatever assignments we have entrusted with them. Being a approved audit firm they are well aware with the regulations and compliances. I will recommend the team highly enough and shall certainly be engaging with them again and again in future assignments.

Moin Abbas Al Ajwad Auto Works
RISIANS

I would overall rate team RISIANS work as exceptional. The team was successful in delivering quality audit, irrespective of the tight deadline and it was way better than the predecessor. We can definitely build more knowledge for future.

Ajit G Vernekar AL SHAFAF REPACKING SERVICES
RISIANS

RISIANS proactiveness and precision towards managing our accounts and helping us constantly whenever we are in need of is a dynamic quality that makes us want to recommend to any company or an individual. Looking for a great accountants without any hesitation.

Aqeeb Aqeeb Internstional
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Office No-18, 25th Floor, Iris Bay Tower Business Bay, Downtown - Dubai - UAE

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