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Blog – N R Doshi & Partners

How to prevent a payroll fraud

Payroll fraud is a common type of fraud that is prevalent in the business world for many years. It also features among the costliest forms of fraud amongst businesses. Since the company’s internal teams managing the human resource processes manage it, payroll fraud cases rarely feature in media reports. Besides, there is a minimum likelihood of recovering money from such…

Best defence mechanism actions against scam emails

The entire world is moving towards complete digitalization, and with it, the threats to online security have increased. It is not that the world is not aware of it. The world is aware of the problem as well as varied solutions or preventable ways to it. Still, data breaches happen, phishing scams happen, and we lose money. Hackers use email,…

Sharjah Research, Technology and Innovation Park Free Zone (SRTIP): The Complete Guide

Sharjah is one of the most prominent industrial hubs in the world. The reason could be its holistic approach, where the emirate focuses on human-centric experience. For that reason, Sharjah Research, technology, and Innovation Park Free Zone (SRTIP) was established in the year 2016.  SRTIP provides an opportunity for enterprises to research, develop, and manage innovation in the best possible…

6 tips for making and accepting global payments

1. Abide by all the appropriate rules and procedures for making global payments 2. Opt for the popular regional payment methods and their providers to ensure swift global payments  3. Try to use one digital payment solution for all your clients to ensure efficient and error-free cross-border payments  4. Avoid mistakes by being extra careful in the procedure of making…

Best practices for payroll processing

Here are the best practices to enable you to ensure accurate year-end processed payroll:  Start the year-end payroll processing in the last quarter of the financial year  You must prepare for completing all the steps of payroll processing successfully. For this, you must create a payroll checklist and allocate some deadlines for each point. This gives you a goal for…

How automation will change the future of audits

The impact of automation is visible in most industries. The auditing industry is not an exception. With multiple recent developments in technology and data, the audit industry is witnessing a surge in automation. The interruption of advanced technologies in the audit process is essential since some auditing tasks consume a lot of auditors’ time. Some of these tasks are prone…

The importance of bank reconciliation statement

Of all the accounting or bookkeeping best practices or tips for a better accounting system, one point that is always stressed is to ensure bank reconciliation. It is an important part of the bookkeeping process for any business entity to track any inefficiencies or unusual transactions. In this article, we make you understand the significance of a bank reconciliation statement.…

Significance of Virtual CFO Services

Virtual CFO (Chief Financial Officer) services have been in trend for a long, and it has garnered much-deserved attention during these tough times when people are maintaining social distance and working remotely.   Any business that lacks financial decision-making abilities and looking for someone to make decisions for the growth of the entity can use the virtual CFO services. They use…

Federal Tax Authority (FTA), UAE launches new Excise Tax stock reporting requirements

On 22nd November 2020, the FTA announced a new notice stating the excise tax stock reporting requirements. According to the notice, one needs to submit an opening stock declaration in January 2021; the submission starts from 1st January 2021 and ends on 31st January 2021.   FTA has circulated the notice to excise tax taxable individuals. In the upcoming weeks, more…

How to select an accounting services provider

Accounting is the process of recording, summarizing, and analyzing the financial transactions of a business. It is a crucial function for any business entity to keep running and managing the operations successfully. Generally, businesses outsource their accounting function to professional CA firms, who are experts in providing accounting services. By outsourcing accounting and bookkeeping services, businesses can focus on their…

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