FAQ

Answers About Business Auditing And Accounting Services

The responsibilities of a bookkeeper extend beyond mere data entry and tax compliance. They handle tasks like deposit management, payroll, financial statement preparation, bank statement reconciliation, and audit assistance. Working alongside a controller, they ensure ledger accuracy, safeguard against unauthorized changes, and produce monthly financial reports to identify issues.

Audit firms in the UAE conduct impartial reviews of companies' financial records to verify their accuracy, completeness, and adherence to Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and International Accounting Standards (IAS). Their primary responsibility is to enhance transparency and uphold fiscal accountability within the corporate sector.

Non-compliance with UAE tax regulations can result in penalties, fines, and legal consequences. It can also harm your business reputation. Professional tax compliance services help mitigate these risks—our Dubai-based accounting firms for VAT compliance offer corporate-compliant accounting solutions that align perfectly with your business goals.

In the UAE, businesses seek corporate tax services for compliance assurance, tax optimization, risk reduction, process efficiency, and strategic tax planning. Collaborating with skilled tax consultants, audit firms, and accounting entities in Dubai offers substantial advantages, enhancing overall financial success and proficiently managing tax and reporting concerns.

Yes, we can provide insights and strategies for international expansion, including market analysis, regulatory compliance, and risk assessment.

At Lotus Touch, we prioritize your business's security through a comprehensive approach. We initiate a risk assessment to identify vulnerabilities. Tailored strategies are then crafted, considering your unique needs, industry requirements, and regulatory compliance. We help in crisis management planning to ensure business continuity. Our expertise extends to cyber security, and physical security enhancement. We conduct regular audits and reviews to maintain an ongoing, robust security framework tailored to your business's evolving needs.

Our ERP solutions provide a centralized dashboard for efficient process management, optimizing operations and productivity. These systems also offer visibility into end-to-end processes, enabling better control and informed decision-making through analytical reporting. Additionally, our ERP solutions automate manual tasks, saving time and resources while reducing potential errors.

A business in the UAE should consider turnaround services when it faces financial hardship, declining profitability, mounting debt, cash flow problems, operational inefficiencies, or other critical issues that may jeopardize its viability. With its deep understanding of the local market and proven expertise, Lotus Touch is the ideal partner to help navigate these challenges and guide the business toward recovery and sustainability.

Financial crime prevention consultants in the UAE are experts in safeguarding businesses against fraud, money laundering, and other financial crimes. These consultants play a crucial role in maintaining the integrity of economic systems and businesses in the UAE. Lotus Touch provides tailored strategies to assess risks, develop effective prevention measures, and ensure regulatory compliance.