Saudi Arabia increases their minimum wage for National Staff

HLB KSA Payroll Team

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    Saudi Arabia has decided to increase the minimum wage of employees from 3000 riyals to 4000 riyals. The announcement was made by the Ministry of Human Resources and Social Development of Saudi Arabia and it will benefit 33 percent of employees working in the private sector.

    The decision was made as part of the Nitaqat Programme which aims to reduce the unemployment rate and to provide more employment opportunities for its citizens.

    The minister of Human Resources and Social Development, Ahmed Suleiman Al Rajhi said that the amendment of wage will also be applicable to the students of Saudi who work part-time. He also stated that the rule will come into action five months from the date of the announcement.

    The new rule specifies that an employee who receives a monthly salary that is below the minimum wage won’t be considered part of the company’s designated quota of national employees. Also, the ones who receive a salary between 3,000 riyals and 4,000 riyals will be considered as half of a ‘citizen worker’ in the quota count.

    Saudi Arabia has brought in many incentives to its people in order to support them during such a crisis. The government’s recent initiative aims at attracting more Saudi Arabian citizens to the private sector along with ensuring their rights are met.

     

     
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    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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    Business Valuation UAE in the age of COVID-19

    Raghunath. T, Director

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    HLB HAMT - Accounting Firm in UAE
    Phone:- +971 4 327 7775
    Mobile:- +971 55 807 4568
    Email:- dubai@hlbhamt.com

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      It is said that valuing businesses is both a science and an art.

      A perfect amalgamation of both, business valuation, relies on scientific evidence & methods and qualitative artful considerations. But why do we need to value our business? Is the purpose of business valuation a simple profit and loss snapshot? Not really; business valuation can be seen as more of a health check that gives us an insight into the strengths and weaknesses of a business and what we are worth; and not what we want.

      More so with all the events caused by COVID19, company valuations are becoming a critical area of consideration. Valuations may be conducted for a variety of reasons, such as Selling or buying the company, Partnership dissolution, Legal disputes, or Succession planning

      In any of these cases, the owner should have a thorough understanding of cash flow, growth, margins, assets, liabilities, and intellectual property.

      Fundamentally, the major factors that help in determining the value of your business are;

      • Historical financial performance

      The financial performance of your company in recent years that includes profit and loss statements, balance sheets, and tax returns is a significant parameter that investors consider in a business valuation.  Trends in revenue and expenses are a basis on which investors assess potential and hence value the company.  There are, of course, companies – usually in the “new” businesses like technology and high growth sectors that do need to be valued without a historical track record, and that is where the next factor plays a role i.e., –  the future growth potential

      • Future growth potential

      While present and past statistics are important in determining value, equally important is the future growth potential of your company. Investors need to know the expected growth of the business and the chances of expanding the business’ product/ service line in the future. Here, the assumptions behind the numbers that generate enterprise value play a very critical role. The valuer will have to get even deeper into the business, understand the industry, its risks, and value drivers even more closely to arrive at a meaningful result.

      • People

      An organization’s success or failure is determined by the people that run it. A company cannot be valued without considering the roles and impacts that its key people make. Unfortunately, this is a silent and understated factor in most valuations, but it is possibly one of the most critical ones.

      There are of course, several other factors such as:

      • Customer base: A diversified customer base v/s reliance on a few clients
      • Risks Factors: Country, Industry, Markets of operation
      • Capital Structure: Debt v/s Equity

      As mentioned earlier, business valuations have always been challenging and tricky and now the current pandemic crisis has added a layer of uncertainty to the whole process. While calculating the true value of a company, investors make assessments on future economic benefits based on past performances and supported projections. But, in the current scenario, it is hard to make assumptions and arrive at a fair value. A range of valuations or valuation reports that cover assumptions made in COVID-19 and non-COVID-19 scenarios will have to be provided. It is in conjunction with this that valuation methodologies, such as discounted cash flow valuations or valuations based on earnings or asset bases can be used.

      While certain businesses and sectors are experiencing significant declines in market capitalization, there are others that are not just surviving, but thriving. Tourism, Hospitality, and traditional offline retail are some of the most negatively affected markets that are struggling to adapt. There has been a dramatic shift in the shopping pattern of customers. In the pre-Covid days, customers were happy to spent hours checking retail stores; but now they find shopping via e-commerce sites more convenient and safe. Many such stores were forced to shut down temporarily or sell their business.

      Companies that were facing fundamental problems prior to the pandemic will have a tough time to cope with the situation, whereas companies that had proper business continuity and crisis plans will be in a position to take advantage of the new scenario.

      Many buyers are ready to buy businesses that have been temporarily shuttered due to the pandemic, provided it has the potential. On the seller’s side, it is better to sell their business at its current valuation, rather than draining off their personal assets in an attempt to save their company. However, it is mandatory to figure out a deal that works for both parties.

      A good business valuation team will assist in coming up with flexible deal structures with a reasonable and satisfactory price for the seller and the buyer. HLB HAMT, as a business valuation company has a team that helps companies and investors in Dubai, Abu Dhabi, and other emirates in the UAE in determining the enterprise value and supporting them through the transaction.  If you are the owner of a company in the UAE and would like to do a valuation on it or if you are looking to invest in attractive businesses in the UAE but need to do a valuation of your target company, our team will guide you. The team lays emphasis on understanding the business model and works together with the client management team to validate their strategic business plans as well as the key assumptions and risks involved. This will ensure that the valuation which is arrived is realistic and acceptable to any interested third party.

      HLB HAMT covers sectors that include retail, financial services, technology, real estate, hospitality, manufacturing, healthcare, food & beverage, automotive, and many more.

      Would you like to rate us on Google?         

       

      Varun R Chandra
      Varun R Chandra
      07:38 25 Apr 21
      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
      Giuseppe Assi
      Giuseppe Assi
      06:20 31 Jan 21
      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
      Mohamed Sheriff
      Mohamed Sheriff
      16:16 28 Jun 20
      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
      218141 JOSEPH THOMAS
      218141 JOSEPH THOMAS
      16:20 23 Jun 20
      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
      PMI
      PMI
      07:14 23 Jun 20
      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
      RAVI CHOKSI
      RAVI CHOKSI
      08:28 21 Jun 20
      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
      Maharajan Subramaniam
      Maharajan Subramaniam
      18:17 06 Jun 20
      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
      Mohammed L
      Mohammed L
      08:07 05 Jun 20
      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
      ROY ROSHAN VIVIAN
      ROY ROSHAN VIVIAN
      06:32 04 Jun 20
      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
      Basil Daniells
      Basil Daniells
      05:55 03 Jun 20
      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
      Amar Kashyap
      Amar Kashyap
      19:28 02 Jun 20
      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
      Radz de Jesus
      Radz de Jesus
      16:03 02 Jun 20
      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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      UAE allows 100% ownership for foreign nationals

      Jay Krishnan, Partner

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      HLB HAMT - Accounting Firm in UAE
      Phone:- +971 4 327 7775
      Mobile:- +971 55 160 1291
      Email:- dubai@hlbhamt.com

        Get Free Consultation




        The much-awaited law pertaining to 100% ownership for foreign nationals while starting a business in UAE mainland has been approved by His Highness Sheikh Khalifa bin Zayed Al Nahyan. The law will come into effect from December 1st of 2020.

        Foreign investors do not have complete ownership of business on UAE mainland as of now and requires an Emirati sponsor to start a business The UAE Cabinet issued Cabinet Resolution No. 16 of 2020 containing the complete FDI Positive List and the requirements for starting companies on UAE mainland in the beginning of this year. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said that, “the UAE enjoys a fertile legislative environment now for foreign direct investment and looks forward to enhance the nation’s competitiveness.”

        The new law amends 51 articles of the Commercial Companies Law (CCL) and added several new, most of it aiming on the regulations for companies with limited liability shareholding.

        As per the existing CCL, foreign investors were only allowed to have a maximum of 49% of share in a limited liability company (LLC) that functions as an onshore UAE business. The remaining 51% was to be owned by an Emirati individual or a company owned by an Emirati as their local sponsor. The new law grants permission for foreign shareholders to have complete ownership without the presence of a sponsor. This will not be applicable to companies owned by the federal or local government or their subsidiaries, or for those excluded by the Cabinet decisions.

        UAE is reaching out to investors all across the globe with its new and improved laws. The country is aiming to be the most suitable place for investments and is all set to welcome the new business owners to the world of opportunities.

        HLB HAMT’s Consultants closely interact with clients to help setup business on UAE mainland, from the initial to final phase and also assists them with strategic ideas. We provide assistance in;

        • Getting approvals and clearances from various departments,
        • Drafting Memorandum of Association and other necessary agreements
        • Opening bank accounts
        • Finding a proper office location
        • Handling other documentation formalities

         

        Would you like to rate us on Google?         

         

        Varun R Chandra
        Varun R Chandra
        07:38 25 Apr 21
        HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
        Giuseppe Assi
        Giuseppe Assi
        06:20 31 Jan 21
        I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
        Mohamed Sheriff
        Mohamed Sheriff
        16:16 28 Jun 20
        Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
        218141 JOSEPH THOMAS
        218141 JOSEPH THOMAS
        16:20 23 Jun 20
        Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
        PMI
        PMI
        07:14 23 Jun 20
        In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
        RAVI CHOKSI
        RAVI CHOKSI
        08:28 21 Jun 20
        Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
        Maharajan Subramaniam
        Maharajan Subramaniam
        18:17 06 Jun 20
        High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
        Mohammed L
        Mohammed L
        08:07 05 Jun 20
        We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
        ROY ROSHAN VIVIAN
        ROY ROSHAN VIVIAN
        06:32 04 Jun 20
        Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
        Basil Daniells
        Basil Daniells
        05:55 03 Jun 20
        I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
        Amar Kashyap
        Amar Kashyap
        19:28 02 Jun 20
        Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
        Radz de Jesus
        Radz de Jesus
        16:03 02 Jun 20
        We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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        Public Clarification on Dubai Owners’ Associations and Management

        Jay Krishnan, Partner

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        HLB HAMT - Accounting Firm in UAE
        Phone:- +971 4 327 7775
        Mobile:- +971 50 677 5860
        Email:- dubai@hlbhamt.com

          Get Free Consultation




          Dubai Owners’ Associations were required to apply for VAT deregistration not later than 4th December 2019 as they are not making taxable supplies based on the Law No. 6 of 2019 issued on 4th September 2019. Management Entities are regarded as making supplies to the owners of Jointly Owned Real Property and required to fulfill VAT obligations in this regard, including the issuing of valid tax invoices and VAT reporting.

          Any non-compliance with regard on account of such supplies by the Owners Associations and the Management Entities will result in administrative penalties and fines.

          Click here to know in detail Public Clarification on Dubai Owners’ Associations and Management Entities (VATP022) issued by FTA.
           

           
          Would you like to rate us on Google?         

           

          Varun R Chandra
          Varun R Chandra
          07:38 25 Apr 21
          HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
          Giuseppe Assi
          Giuseppe Assi
          06:20 31 Jan 21
          I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
          Mohamed Sheriff
          Mohamed Sheriff
          16:16 28 Jun 20
          Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
          218141 JOSEPH THOMAS
          218141 JOSEPH THOMAS
          16:20 23 Jun 20
          Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
          PMI
          PMI
          07:14 23 Jun 20
          In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
          RAVI CHOKSI
          RAVI CHOKSI
          08:28 21 Jun 20
          Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
          Maharajan Subramaniam
          Maharajan Subramaniam
          18:17 06 Jun 20
          High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
          Mohammed L
          Mohammed L
          08:07 05 Jun 20
          We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
          ROY ROSHAN VIVIAN
          ROY ROSHAN VIVIAN
          06:32 04 Jun 20
          Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
          Basil Daniells
          Basil Daniells
          05:55 03 Jun 20
          I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
          Amar Kashyap
          Amar Kashyap
          19:28 02 Jun 20
          Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
          Radz de Jesus
          Radz de Jesus
          16:03 02 Jun 20
          We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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          All about End of services Gratuity in Qatar

          HLB Qatar Payroll Team

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          HLB HAMT - Accounting Firm in UAE
          Phone:- +971 4 327 7775
          Mobile:- +971 50 205 9540
          Email:- dubai@hlbhamt.com

            Get Free Consultation




            Article 54 of the Labor Law (Law No. 14 of 2004) states as follows regarding Gratuity.

            ‘In addition to any sums to which the worker is entitled to upon the expiry of his service, the employer shall pay the end of service gratuity to the worker who has completed employment of one year or more. This gratuity shall be agreed upon by the two parties, provided that it is not less than a three-week wage (21 days) for every year of employment. The worker shall be entitled to gratuity for the fractions of the year in proportion to the duration of employment. The worker’s service shall be considered continuous if it is terminated in cases other than those stipulated in Article (61) of this law and is returned to service within two months of its termination. The last basic wage shall be the base for the calculation of the gratuity. The employer is entitled to deduct from the service gratuity the amount due to him by the worker.’

            1. What is Gratuity?
              Gratuity is a monetary payment eligible to an employee as a lump sum at the end of his tenure provided that the period of service exceeds one year. Gratuity payment is a liability to the employer which accrues as the employee service period progresses.
            2. When does an employee become eligible for his/her gratuity payment?
              Employees are eligible for gratuity pay at the end of their service period, at termination or resignation. According to Article 54, the worker shall be entitled to gratuity for the fraction of the year worked provided he has completed more than one year of continuous service.
            3. What is the basis amount that is used to calculate gratuity?
              The Last drawn basic wage shall be considered the basis for the calculation of the gratuity.
            4. What is the number of days used to accrue gratuity?
              Gratuity accrual and calculation is based on 21 days per year for every year of service. The following example shows the gratuity accrual at a given time.

              ParticularsAccrual Calculation
                  Hire date    15/04/18
                  Basic salary    1,000.00
                  One day Basic salary (Basic salary/30)    33.33
                  Payroll Month    January -2020
                  Number of days in service as of 31 January 2020    657
                  Number of years in service    1.80
                  Gratuity Days    37.80
                  Gratuity Amount (Gratuity days*One day Salary)    1,260.00

               

            5. Does type of separation of an employment contract affect the gratuity payment?
              No, the type of separation from the employment contract does not affect the amount of gratuity paid.
            6. What is the effect of unpaid leave taken during the period of service?
              Any period taken by the employee as unpaid leave is excluded when determining the service period. The period of service is reduced by the number of days served as unpaid leave.
            7. What happens if a worker dies while in service?
              If a worker dies while in service of an employer, the employer within a period of fifteen days from the date of death should deposit with the court his outstanding wages and entitlements plus the outstanding gratuity.
            8. Should an employer who pays a pension plan for the employee pay gratuity at end of service?
              If an employer maintains a pension plan for the employee with a greater benefit than the gratuity payable, then the employer is not obliged to pay gratuity at end of service. If the benefit from such a plan is less than the gratuity payable, then the employer is obliged to pay the gratuity and refund the employee any amounts deducted towards the plan.
            9. Can gratuity payment be withheld by the employer?
              As per Article 61, the employer may dismiss the worker without end-of-service gratuity in any of the following instances:

              • If the worker assumes a false identity or nationality or submits false certificates or documents.
              • If the worker commits an act which causes gross financial loss to the employer provided that the employer shall notify the Department of the incident within twenty-four hours from the time of his being aware thereof.
              • If the worker violates more than once the written instructions of the employer concerning the safety of the workers and the establishment despite his being notified in writing of the violation provided that these instructions shall be written and posted up in a conspicuous place.
              • If the worker fails, more than once to carry out his essential duties under the service contract or this law despite his having been notified in writing thereof.
              • If the worker discloses the secrets of the establishment where he is employed.
              • If the worker is found during the working hours in a state of drunkenness or under the influence of a drug.
              • If the worker commits an assault on the person of the employer, the manager or one of his supervisors in the work during the work or by reason thereof.
              • If the worker repeats his assault on his colleagues in work despite his being warned in writing thereof
              • If the worker absents himself from work without legitimate cause for more than seven consecutive days or fifteen days in one year.
              • If the worker has been finally sentenced for a crime involving immorality or dishonesty.
            10. How Gratuity is calculated during final settlement?
              Gratuity is paid if the service period exceeds one year. The illustration below breaks down the details.

              Total Service periodGratuity calculation
                  Less than 1 Year    No Gratuity
                  1 year and Above    Three weeks (21 days) of each year of service

              Please see the below example for calculation of gratuity during final settlement.

              Service period Less than 1 Year
              ( No Gratuity)
              1 Year and Above
              ( Eligible for 21 days)
                  Hire date24/02/1815/04/13
                  Last Working Day25/01/1925/01/20
                  Basic salary1,000.001,000.00
                  One day Basic salary (= Basic salary/30)33.3333.33
                  Number of days in service3362477
                  Number of years in service0.926.79
                  Gratuity Days criteria021
                  Gratuity Days calculation0142.51
                  Gratuity Amount (Gratuity days*One day Salary)4,750.41

               
              The gratuity scheme was introduced in Qatar certain years ago to ensure that when an employee is terminated from job, he/ she receives a lump sum payment to take care of their expenses till they get another job. But, employees should have a definite understanding on how gratuity is calculated in Qatar, to avail the complete benefits offered by the scheme.

            For information on the payroll process in Qatar click on this link

            Payroll Process in Qatar

            The process of payroll is little complicated and time-consuming; hence it is always recommended to outsource your company’s payroll function. Outsourcing payroll will ensure the assistance of a team of trained payroll professionals and it frees up the time of the organization, helping them focus on other projects that add value to their business.

            One should be extra vigilant while selecting their payroll provider, as payroll data is highly sensitive, and one should opt for a provider that can ensure high levels of data security.

            As a leading payroll outsourcing company, HLB HAMT can help solve your payroll complexities through customized strategies. We take care of our clients’ entire payroll cycle that includes preparation of payroll reports, processing salary payment with WPS compliance, accrual management including Gratuity, pension funds, an online portal for accessing payslips, and many more. Our leadership team spends the necessary hours in every project, ensuring our clients get refined consulting services to take your business forward.

            To know more about our payroll process, click here

            Disclaimer:
            Whilst every effort has been made to ensure the accuracy of this information, HLB HAMT will not accept any liability arising out of errors or omissions. Please note that this blog is not all-inclusive. Our guidance is designed only to give general information on the issues/topics covered. It is subjected to change and not intended to be a comprehensive summary of all laws which may be applicable to your situation, treat exhaustively the subjects covered, provide legal advice, or render a legal opinion.
             


             
            Did you find the blog informative?         

             

            Varun R Chandra
            Varun R Chandra
            07:38 25 Apr 21
            HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
            Giuseppe Assi
            Giuseppe Assi
            06:20 31 Jan 21
            I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
            Mohamed Sheriff
            Mohamed Sheriff
            16:16 28 Jun 20
            Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
            218141 JOSEPH THOMAS
            218141 JOSEPH THOMAS
            16:20 23 Jun 20
            Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
            PMI
            PMI
            07:14 23 Jun 20
            In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
            RAVI CHOKSI
            RAVI CHOKSI
            08:28 21 Jun 20
            Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
            Maharajan Subramaniam
            Maharajan Subramaniam
            18:17 06 Jun 20
            High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
            Mohammed L
            Mohammed L
            08:07 05 Jun 20
            We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
            ROY ROSHAN VIVIAN
            ROY ROSHAN VIVIAN
            06:32 04 Jun 20
            Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
            Basil Daniells
            Basil Daniells
            05:55 03 Jun 20
            I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
            Amar Kashyap
            Amar Kashyap
            19:28 02 Jun 20
            Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
            Radz de Jesus
            Radz de Jesus
            16:03 02 Jun 20
            We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
            Next Reviews
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            Whatever your question our team will point you in the right direction

            Start the conversation

            Auditors in Dubai

            Nithin N.K

            image

            HLB HAMT - Accounting Firm in UAE
            Phone:- +971 4 327 7775
            Mobile:- +971 50 749 0576
            Email:- dubai@hlbhamt.com

              Get Free Consultation




              Every company functioning in the Dubai mainland and free zones are required to maintain the book of accounts for at least five years, which makes it mandatory to audit their accounts. Auditing of accounts will help the entity to have a smooth flow of transactions and will enable the management to identify the malpractices (if any) at the company. Auditing cannot be practiced by anyone; you will need a certified auditor to look into your accounts.

              One can find numerous auditors in Dubai who will help you audit your book of accounts. It is extremely important to choose the right auditor for your entity. In order to be an auditor in Dubai, he/she must be a qualified and certified auditor who is licensed under the Ministry of Economy in the UAE.

              Auditing might be a tough concept to understand for an outsider, but as someone who runs a company, you are bound to know the procedures of auditing. There are a few steps in the auditing process, beginning from the documents check to the final meeting with the company and the auditor.

              The auditing process:

              1. Document check

              In the process of auditing, an auditor whether internal or external will provide a list of documents which is to be submitted by the company.

              The documents may comprise of legal documents, previous auditing reports, financial statements, ledgers, bank statements, receipts, etc. They might also want the copies of the minutes of the board meetings conducted during the past financial year, the company’s regulations and so on.

              1. Preparation and commencement of audit

              The company will be given a date by the auditor for the commencement of the audit; as the auditor prepares for the audit, the company will have to provide with all the necessary documents requested by the auditor, and may even prep up the employees who may be interviewed as part of the auditing process.

              1. Report submission

              Once auditing is complete, the auditor submits the audit report with the findings and solutions for the errors found during the process. The report submission is followed by a meeting with the auditor and the management to discuss the findings and the solutions put forward by the auditor.

              If you are planning to hire an auditor in Dubai, to audit your accounts, you may as well consider the reputation of the firm, the qualifications and experience of the auditor. Unlike earlier days, everything is systemized and computed with the use of technology, which is why you need to be sure that your auditor is capable of handling the latest technologies available.

              The reputation of the firm is the most significant factor to consider while you opt for auditors in Dubai. HLB HAMT has been in the field of accounting and auditing for more than 20 years now. We have well experienced and highly qualified professionals to help you sought out your auditing issues. Our team handles the accounts of our clients with high confidentiality and ensures to provide the best quality services available in the whole of UAE.

               

              Go to our service page: Audit and Assurance

               

               
              Would you like to rate us on Google?         

               

              Varun R Chandra
              Varun R Chandra
              07:38 25 Apr 21
              HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
              Giuseppe Assi
              Giuseppe Assi
              06:20 31 Jan 21
              I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
              Mohamed Sheriff
              Mohamed Sheriff
              16:16 28 Jun 20
              Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
              218141 JOSEPH THOMAS
              218141 JOSEPH THOMAS
              16:20 23 Jun 20
              Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
              PMI
              PMI
              07:14 23 Jun 20
              In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
              RAVI CHOKSI
              RAVI CHOKSI
              08:28 21 Jun 20
              Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
              Maharajan Subramaniam
              Maharajan Subramaniam
              18:17 06 Jun 20
              High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
              Mohammed L
              Mohammed L
              08:07 05 Jun 20
              We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
              ROY ROSHAN VIVIAN
              ROY ROSHAN VIVIAN
              06:32 04 Jun 20
              Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
              Basil Daniells
              Basil Daniells
              05:55 03 Jun 20
              I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
              Amar Kashyap
              Amar Kashyap
              19:28 02 Jun 20
              Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
              Radz de Jesus
              Radz de Jesus
              16:03 02 Jun 20
              We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
              Next Reviews
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              Get in touch

              Whatever your question our team will point you in the right direction

              Start the conversation

              Audit Services in Dubai

              Nithin N.K

              image

              HLB HAMT - Accounting Firm in UAE
              Phone:- +971 4 327 7775
              Mobile:- +971 50 749 0576
              Email:- dubai@hlbhamt.com

                Get Free Consultation




                The benefits of auditing are still unknown to many; people still doubt the need for auditing to run a company. Auditing is the technical service to the economy to analyze the performances in the financial position of any company or entity. Auditing requires a lot of logical reasoning and quick application of the mind. It is mandatory for every company to audit their book of accounts in UAE which makes it necessary to avail of audit services in Dubai.

                Auditing will help you know the financial state of your company and let you be aware of the risks, such as malpractices on accounts, mistakes in accounting and so. Availing auditing services will let you manage your risks efficiently and double-check your accounts and errors if any. It is natural for people to create mistakes, but auditing will help you be safe of future crisis’ caused due to some manual or technical mistakes. In short, auditing services let you become more vigilant in your accounting procedures, as well as the functioning of the management and save you from further issues.

                Many people wonder about the different types of auditing services in Dubai. With the recent addition of Value Added Tax (VAT), the mobs are more curious about knowing the type of services to avail for auditing their book of accounts. There are different types of audit services in Dubai.

                Types of audits:

                • Internal audit

                Internal audit is a management function conducted by a professional auditor whether in-house or not, who looks into the overall functioning of a company.

                • External audit

                External auditors are independent of the entity of which the audit is to be carried out; the external audit is done to reassure the accuracy of financial statements.

                • Forensic audit

                A forensic audit is done to establish a fact; i.e., investigating through the process of auditing, whether any fraudulent practices have taken place within the entity.

                • Tax audit

                Tax audits are made to analyze the accuracy of tax returns filed. It is a type of compliance audit that is only done to audit the tax files.

                • Compliance audit

                Every country requires specific audits to comply with the particular laws and regulations of each nation. It will only be done to analyze those specific needs. VAT audit, income tax audit, are all examples for a compliance audit.

                An audit helps in reviewing the whole functioning of an entity, as there is a number of audit services in Dubai made available to you; it is wise to look for an experienced and professional auditor for your company. HLB HAMT provides you with the best audit services in Dubai. We have well experienced and professionally qualified personals to help you in need. HLB HAMT is more than happy to guide you through your journey with our valuable audit services in Dubai.
                 

                Go to our service page: Audit and Assurance

                 

                 
                Would you like to rate us on Google?         

                 

                Varun R Chandra
                Varun R Chandra
                07:38 25 Apr 21
                HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                Giuseppe Assi
                Giuseppe Assi
                06:20 31 Jan 21
                I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                Mohamed Sheriff
                Mohamed Sheriff
                16:16 28 Jun 20
                Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                218141 JOSEPH THOMAS
                218141 JOSEPH THOMAS
                16:20 23 Jun 20
                Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                PMI
                PMI
                07:14 23 Jun 20
                In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                RAVI CHOKSI
                RAVI CHOKSI
                08:28 21 Jun 20
                Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                Maharajan Subramaniam
                Maharajan Subramaniam
                18:17 06 Jun 20
                High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                Mohammed L
                Mohammed L
                08:07 05 Jun 20
                We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                ROY ROSHAN VIVIAN
                ROY ROSHAN VIVIAN
                06:32 04 Jun 20
                Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                Basil Daniells
                Basil Daniells
                05:55 03 Jun 20
                I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                Amar Kashyap
                Amar Kashyap
                19:28 02 Jun 20
                Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                Radz de Jesus
                Radz de Jesus
                16:03 02 Jun 20
                We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                Next Reviews
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                Get in touch

                Whatever your question our team will point you in the right direction

                Start the conversation

                FTA will now issue Tax Residency Certificate in UAE

                Jay Krishnan, Partner

                image

                HLB HAMT - Accounting Firm in UAE
                Phone:- +971 4 327 7775
                Mobile:- +971 55 160 1291
                Email:- dubai@hlbhamt.com

                  Get Free Consultation




                  Tax residency and commercial activities certificates will now be issued via the Federal Tax Authority and not the Ministry of Finance. MoF has stopped receiving new applications and the applications for the certificates can be made through the FTA’s e-services portal now.

                  Tax residency certificates are issued to eligible government entities, companies, and individuals looking to avail the benefits of double taxation avoidance agreements, while the commercial activities certificate enables applicants to refund VAT paid in advance outside the country.

                  A tax residency(Domicile) certificate in UAE permits eligible government entities, companies, and individuals to take advantage of agreements of double taxation avoidance. For a person to apply for the certificate, he must be a resident in the UAE for at least 180 days; non-residents cannot apply. Companies that have functioned in the UAE for a minimum of one year can apply for the certificate.

                  HLB HAMT provides professional assistance in coordinating with the authority and availing the tax residency (domicile) certificate in Dubai, UAE.

                   

                   
                  Would you like to rate us on Google?         

                   

                  Varun R Chandra
                  Varun R Chandra
                  07:38 25 Apr 21
                  HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                  Giuseppe Assi
                  Giuseppe Assi
                  06:20 31 Jan 21
                  I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                  Mohamed Sheriff
                  Mohamed Sheriff
                  16:16 28 Jun 20
                  Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                  218141 JOSEPH THOMAS
                  218141 JOSEPH THOMAS
                  16:20 23 Jun 20
                  Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                  PMI
                  PMI
                  07:14 23 Jun 20
                  In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                  RAVI CHOKSI
                  RAVI CHOKSI
                  08:28 21 Jun 20
                  Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                  Maharajan Subramaniam
                  Maharajan Subramaniam
                  18:17 06 Jun 20
                  High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                  Mohammed L
                  Mohammed L
                  08:07 05 Jun 20
                  We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                  ROY ROSHAN VIVIAN
                  ROY ROSHAN VIVIAN
                  06:32 04 Jun 20
                  Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                  Basil Daniells
                  Basil Daniells
                  05:55 03 Jun 20
                  I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                  Amar Kashyap
                  Amar Kashyap
                  19:28 02 Jun 20
                  Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                  Radz de Jesus
                  Radz de Jesus
                  16:03 02 Jun 20
                  We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                  Next Reviews
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                  Get in touch

                  Whatever your question our team will point you in the right direction

                  Start the conversation

                  Audit Reports in Dubai

                  Nithin N.K

                  image

                  HLB HAMT - Accounting Firm in UAE
                  Phone:- +971 4 327 7775
                  Mobile:- +971 50 749 0576
                  Email:- dubai@hlbhamt.com

                    Get Free Consultation




                    Auditing reports contain the opinion on the audit made by the independent auditor after going through the organization’s financial statements and other documents. Audit reports are made after an audit and are submitted to the management of the organization for which the audit was carried out.

                    The auditing report is the final product of auditing and it is extremely important to know about them. There are mainly four types of auditing reports:

                    • Unqualified opinion-clean report

                    An unqualified opinion report is a clean report which indicates that the company has clean financial operations and that it is functioning properly. A clean audit report shows that the auditor is satisfied with the functioning of the organization.

                    • Qualified opinion- Qualified report

                    Qualified audit reports are given when the auditor is not confident about a specific process or transaction. Qualified opinions may give a negative impression about the organization and are not usually preferred by the investors. When the companies fail to produce its records with GAAP, they tend to end up having a qualified audit report from the auditor.

                    • Disclaimer of Opinion-Disclaimer Report

                    The disclaimer audit report shows that the auditor refuses to give an opinion on the financial statements. This report is usually given when the auditor feels that the company had withdrawn themselves from conducting a thorough audit or if they are not satisfied with their findings. When the auditor is not able to put forward enough evidence to find good financial reporting, disclaimer audit reports are submitted. These reports do not project a good impression about the company.

                    • Adverse Opinion-Adverse Audit Report

                    The adverse audit report by an auditor is a black mark to the organization. It is given when the auditor finds huge material misstatement or irregularities and when they are not at all satisfied with the financial statements. This results in mistrust on the company by the investors and the government. The adverse audit reports indicate that there are traces of fraud and the financial reports of the company were not prepared according to the GAAP.

                    The auditing reports (Dubai) are made to reveal the reliability and accountability of an organization. It is the auditor who decides the transparency of an entity through the auditing reports in Dubai. HLB HAMT is a renowned auditor in Dubai who undertakes all kinds of auditing services. We have professionally qualified and well-experienced auditors who will cater to all your needs.

                    HLB HAMT offers internal and external audit services along with IT audit services. We also provide control system reviews, information systems audits and risk management. HLB HAMT is also an auditor approved by the banks of Dubai.
                     

                    Go to our service page: Audit and Assurance

                     

                     
                    Would you like to rate us on Google?         

                     

                    Varun R Chandra
                    Varun R Chandra
                    07:38 25 Apr 21
                    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                    Giuseppe Assi
                    Giuseppe Assi
                    06:20 31 Jan 21
                    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                    Mohamed Sheriff
                    Mohamed Sheriff
                    16:16 28 Jun 20
                    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                    218141 JOSEPH THOMAS
                    218141 JOSEPH THOMAS
                    16:20 23 Jun 20
                    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                    PMI
                    PMI
                    07:14 23 Jun 20
                    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                    RAVI CHOKSI
                    RAVI CHOKSI
                    08:28 21 Jun 20
                    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                    Maharajan Subramaniam
                    Maharajan Subramaniam
                    18:17 06 Jun 20
                    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                    Mohammed L
                    Mohammed L
                    08:07 05 Jun 20
                    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                    ROY ROSHAN VIVIAN
                    ROY ROSHAN VIVIAN
                    06:32 04 Jun 20
                    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                    Basil Daniells
                    Basil Daniells
                    05:55 03 Jun 20
                    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                    Amar Kashyap
                    Amar Kashyap
                    19:28 02 Jun 20
                    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                    Radz de Jesus
                    Radz de Jesus
                    16:03 02 Jun 20
                    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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                    UAE Golden Visa: New categories included

                    Lavin Nalinababu, Business Consultancy

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                    HLB HAMT - Accounting Firm in UAE
                    Phone:- +971 4 327 7775
                    Mobile:- +971 55 160 1291
                    Email:- dubai@hlbhamt.com

                      Get Free Consultation




                      The UAE recently announced that it will grant the 10-year golden visa to all PhD holders, physicians, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, as well as graduates from UAE accredited universities whose GPA score is  3.8 and above. The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum on his Twitter page.

                      People who have specialized degrees in artificial intelligence, big data, or epidemiology and virology in addition to UAE high school top graduates along with their families can also apply for a golden visa I the UAE.  “This is a first batch and it will be followed by other categories. We want talented people and great minds to stay in the UAE and join us in the process of development and achievements,” Sheikh Mohammed tweeted.

                      Golden visa is one of the most looked upon initiatives by the government of UAE, which aims to attract and retain experts and talented professionals from diverse fields and scientific disciplines.

                      The golden visa initiative will be highly beneficial to the country and its property market. It will change people’s perception about UAE; they will start seeing the country as a home and not just a temporary plan.
                       

                       
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                      Varun R Chandra
                      Varun R Chandra
                      07:38 25 Apr 21
                      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                      Giuseppe Assi
                      Giuseppe Assi
                      06:20 31 Jan 21
                      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                      Mohamed Sheriff
                      Mohamed Sheriff
                      16:16 28 Jun 20
                      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                      218141 JOSEPH THOMAS
                      218141 JOSEPH THOMAS
                      16:20 23 Jun 20
                      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                      PMI
                      PMI
                      07:14 23 Jun 20
                      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                      RAVI CHOKSI
                      RAVI CHOKSI
                      08:28 21 Jun 20
                      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                      Maharajan Subramaniam
                      Maharajan Subramaniam
                      18:17 06 Jun 20
                      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                      Mohammed L
                      Mohammed L
                      08:07 05 Jun 20
                      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                      ROY ROSHAN VIVIAN
                      ROY ROSHAN VIVIAN
                      06:32 04 Jun 20
                      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                      Basil Daniells
                      Basil Daniells
                      05:55 03 Jun 20
                      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                      Amar Kashyap
                      Amar Kashyap
                      19:28 02 Jun 20
                      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                      Radz de Jesus
                      Radz de Jesus
                      16:03 02 Jun 20
                      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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