YOUNG AND RIGHT ACCOUNTING & TAX CONSULTANCY
YOUNG AND RIGHT Sound corporate governance helps build an atmosphere of trust, transparency, and accountability for increased business integrity and greater financial growth.
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With its rapidly expanding economy, the Middle East has seen a growing emphasis on corporate governance over the past decade. This shift reflects a growing understanding of the importance of transparent and accountable business practices in fostering economic stability and growth. In Dubai, this focus has been particularly pronounced, driven by the city’s ambition to attract foreign direct investment and strengthen its position in an increasingly competitive global market. While the sophistication of governance frameworks varies across the region, Dubai’s commitment to implementing effective governance laws underscores its dedication to building investor confidence and enhancing the competitiveness of its businesses on the international stage. Government initiatives such as the Dubai Economic Agenda (D33) further demonstrate this commitment, aiming to double the size of Dubai’s economy in the next decade. The active role of regulatory bodies like the Dubai Financial Services Authority (DFSA) ensures compliance and promotes best practices in corporate governance.
Corporate governance advisory services, such as those offered by Young and Right Accounting and Tax Consultancy in Dubai, are essential for helping companies refine their governance practices. These services enable businesses to professionalize their operations and meet international standards, ensuring they remain competitive in a globalized economy.
Corporate governance mandates responsible management aligned with UAE laws. Companies must enforce a code of conduct that promotes ethical business culture.
Setting and evaluating measurable goals ensures accountability, linking outcomes to rewards or consequences.
Identifying and mitigating financial, legal, and operational risks through a structured framework safeguards business stability.
Analyze current governance practices to highlight strengths and identify areas that need enhancement.
Create an effective operating model tailored to the organization’s goals, including clear roles, robust controls.
Manage complexities in jurisdictional requirements by ensuring timely, accurate disclosures .
Support boards in enhancing their structure and achieving maximum efficiency.
Develop governance frameworks that preserve and sustain family-owned businesses.
Keep the organization aligned with changing legal and regulatory requirements.
Steps to Mitigate Risks:
Stay updated on legal and regulatory changes
Gain a thorough understanding of the company’s operations
Clearly define managerial roles and responsibilities
Implement strong governance procedures
Conduct due diligence on business partners
Avoid risky practices like issuing post-dated cheques
Maintain accurate internal reports and records
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“Highly recommended Their outsourcing solutions helped us streamline operations while maintaining accuracy and efficiency.”
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