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Risk management
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Risk management

A good internal auditing system ensures better management of an enterprise by improving its governance, risk management, and management controls. Our Internal Audit team has been helping enterprises – comprising family-owned businesses as well as companies in Dubai, and other parts of the UAE in ensuring that their assets are protected and that enterprise-level risks are well addressed.
Dubai Tax Agents adopts a risk-based approach to evaluate and mitigate organizational risks. Further, we also help clients in managing their costs, improve business productivity, and move their performance to the next level.
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Dubai Tax Agents offers risk management services like:

1.       Outsourced Internal Audits
2.       Co-sourced Internal Audits
3.       Compliance Audits
4.       Risk Assessments and setting up internal control systems
5.       Preparation of Risk Registers
6.       Internal Audit Resource Outsourcing
7.       Internal Audit Training
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Process of risk management

An internal audit could be an ongoing activity for an organization – performed either internally with its own resources, completely outsourced to third parties, or as a blended activity with both internal employees and external companies. In such ongoing audits, companies prefer to have quarterly audit meetings and report discussions with the management/board of directors/audit committee.
Though less used, there are alternate approaches also to internal audits wherein the audits are carried out either once or twice a year and findings and recommendations are reported in a corresponding manner. At times, organizations also conduct an internal controls study as a one-time exercise, and this is usually followed by changes to policies, processes or the ERP.
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How TAX CONSULTANCY plans for risk management

1.       Identify and manage cost overruns, delays, revenue losses, health and safety incidents, quality failures, regulatory non-compliance, contractual disputes, reputation damage, and stakeholder dissatisfaction at every phase of your projects, operations, and business activities

2.       Achieve objectives in terms of quality, safety, cost, scheduling, and performance

3.       Improve cost estimates by managing realistic and relevant contingencies

4.       Achieve identifiable schedule milestones and key performance indicators, including occupational, health, safety, and environmental targets

5.       Assure greater certainty about financial and execution outcomes.

6.       Ensure your transactions are secure

7.       Ensure you have taken all the steps to comply with rules, regulations, and industry best practices

Contact us today to find out how our risk management services can identify and manage a broad range of risks for your projects, operations and business activities.

Income tax

in UAE, there is not a levy income tax on the public but there is a corporate tax on some companies and foreign banks. There is no income tax on income generated in Dubai. Also, there is no sales tax on the majority of goods and services. Therefore, there is a widespread myth that Dubai levies no kind of taxes, direct or indirect on its people.

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