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Beyond Size: The True Scope of Transfer Pricing
From Reports to Real Business Insight
UAE Corporate Tax Update | FTA Clarifies the Meaning of “Director” and “Officer”
Tax Transparency in the UAE: Why Data & Invoicing Are Now at the Core of Regulatory Oversight
The “Micro-Moments” of Client Experience: Turning Routine Touchpoints into Trust Builders
Doing Business in Australia: Unlocking Opportunities in Victoria
Jack Delmo, Chief Executive Officer - McLean Delmo Bentleys

For businesses looking to expand into new markets, Australia is a great place to invest. Known for its political stability, robust economy, and vibrant multicultural society, Australia offers a highly skilled workforce and supportive government policies to enable foreign investment.

Victoria, Australia’s second most populous state, has experienced steady growth over the last ten years and is forecast to grow by 2.6%, exceeding other Australian states and territories. Melbourne, the state’s capital, is now the most populated city in Australia. As part of its growth story, the Victorian Government has an ongoing commitment to encouraging inbound investment. Jack Delmo, Chief Executive Officer, McLean Delmo Bentleys, discusses why Australia, and particularly Victoria, is a great place to do business and what businesses need to consider when establishing operations.

Government Support for Inbound Investment

The Australian Government actively encourages foreign investment through various initiatives. Austrade, the government’s trade and investment arm, provides comprehensive support to international investors, including market insights, networking opportunities, and assistance in navigating regulatory frameworks. Additionally, state-level bodies such as Invest Victoria offer tailored support for businesses setting up operations in the region.

“Australia offers an unparalleled combination of business stability, talent availability, and market access,” comments Jack Delmo. “With the government’s investor-friendly policies and Victoria’s innovation-driven economy, businesses have an excellent platform for growth.”

Setting Up a Business in Australia: Key Considerations

While Australia offers a wealth of opportunities, establishing a business requires careful planning and compliance with local regulations. Following are the critical steps and considerations for businesses looking to expand into the Australian market.

Choose the Right Business Structure

Selecting the appropriate legal structure for your Australian operations is crucial, as it will impact taxation, regulatory obligations, and overall flexibility. A foreign company setting up in Australia for the first time may do so in one of three ways:

  • Representative office – where there are no direct business operations in Australia, but the foreign company wishes to provide support to its Australian customers.
  • Branch – where a company intends to operate a business in Australia, but the foreign company does not wish to establish a separate legal structure.
  • Subsidiary – where a company intends to operate a business in Australia and establishes a separate legal entity.

Consulting a professional advisor can help determine the most suitable structure based on your business goals and work through considerations such as Australian taxation issues, repatriation of profits, Corporations Act requirements, financial reporting obligations, business strategy, and management independence.

Company Secretarial Matters

Compliance with corporate governance requirements is essential. Businesses must appoint a local resident director and ensure ongoing compliance with Australian Securities and Investment Commission (ASIC) regulations, including the timely filing of annual returns and financial statements.

“Effective company secretarial services are key to maintaining good standing with regulators,” advises Jack Delmo. “Non-compliance can lead to penalties, additional administrative burdens, and reputational risks.”

Taxation Compliance and Considerations for Non-Residents

Australia has a well-developed tax system, and understanding its nuances is critical for foreign investors. Key tax considerations include:

  • Corporate Tax Rate: The standard corporate tax rate is 30%, but a lower rate of 25% applies to businesses with an aggregated turnover below AUD 50 million.
  • Goods and Services Tax (GST): A 10% GST applies to most goods and services. GST may be charged on invoices and can also be claimed on various expenses.
  • Withholding Tax: Applies to dividends, interest, and royalty payments to foreign entities, depending on applicable tax agreements.
  • Transfer Pricing: Transactions between related parties must comply with arm’s length principles.
  • Employment Taxes: Includes employment laws, withholding requirements, WorkCover insurance, and superannuation.
  • Thin Capitalisation Rules: Ensures adequate capitalisation and may limit deductions in certain scenarios.
  • General Anti-Avoidance Rules: Applies to arrangements designed primarily to obtain tax benefits.

Managing an international structure and mitigating tax exposure can be complex. Professional advice on tax structuring and compliance can help businesses optimize their position and avoid risks.

Accounting Services

Accurate and transparent financial reporting is crucial for maintaining investor confidence and meeting regulatory requirements. Engaging local accounting professionals ensures compliance with Australian Accounting Standards and International Financial Reporting Standards (IFRS).

“Leveraging local expertise in accounting and financial reporting helps businesses stay compliant while focusing on their core operations,” commented Jack Delmo.

With its vibrant economy, strategic location, and supportive business environment, Australia offers immense opportunities for businesses looking to expand into new markets.

“Investing in Australia is a strategic move for businesses aiming to expand their global footprint,” says Jack Delmo. “With the right guidance and resources, businesses can thrive and contribute to Australia’s economic landscape.”

Whether you are a seasoned multinational or a growing enterprise, Australia welcomes you with a wealth of opportunities.

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France–UAE: A longstanding partnership anchored in strategic and economic cooperation
HE Jean-Christophe Paris, Consul General of France in Dubai and Northern Emirates

Over the last 50 years, the United Arab Emirates and France have built a remarkably strong and multifaceted partnership, and we are now looking at the future.

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Business Gateway: Dubai opens door for Free Zone Entities to the Mainland
Raju Menon, Chairman and Managing Partner - Kreston Menon

In a landmark reform aimed at enhancing the business ecosystem and reinforcing Dubai’s status as a global investment hub, Dubai Executive Council has passed a resolution permitting Free Zone companies to do business in the Dubai mainland. This change has the potential to open new markets, bring in new business synergies and facilitate more foreign direct investment into the Emirate.

Let us do a deep dive into what the new resolution entails and how it could benefit businesses.

The Resolution No. (11) of 2025: A definite Step Forward

Dubai Executive Council Resolution No. (11) of 2025 permitting Dubai Free Zone entities to expand their business activities to mainland Dubai through the issuance of onshore licenses and activity permits.

The companies registered in Free Zones were restricted from engaging in commercial activities in the mainland which many considered to be regulatory and financial divide that restrained businesses in an increasingly interconnected environment.

The new resolution aims to bridge that gap. Free Zone companies can now engage with the mainland market directly, subject to compliance with Dubai’s regulatory framework, licensing requirements, and sector-specific approvals. This initiative complements with D33 Agenda – the economic vision of Dubai which aims to double the size of economy, which will position Dubai as one of the three global cities for business and innovation.

The Mechanism

Free Zone entities who are looking to take advantage of the new resolution which will be integrating Free Zones and Mainland, may apply for one of the three new types of licenses/permits:

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The UK-UAE Partnership: Building a Financial Service Future Together
H.E. Edward Hobart, British Ambassador to the United Arab Emirates Hobart

The United Kingdom has long promised to be the best country in the world to do business, and I am proud to say we are delivering on that. Recent months have seen our economy receive two significant votes of confidence: a landmark Free Trade Agreement with India—the fastest growing economy in the G20 — and becoming the first country to secure an economic deal with the Trump administration. These achievements underscore the UK’s position as the most open, stable, and connected economy in the world. But what truly sets us apart is our approach to growth — one that we are building not just for you, but with you.  


My initial appointment to the United Arab Emirates, as Consul General to Dubai and the Northern Emirates in 2012, afforded me a profound appreciation of the intertwined historical relationship between the United Kingdom and the United Arab Emirates. It is a rare privilege in diplomatic service to return to a nation in a more senior capacity, and I am honoured to now serve as His Majesty’s Ambassador to the UAE.   


Today’s UK and UAE relationship reaches back more than two hundred years. Those original agreements to secure vital trade routes have flourished into a thriving partnership which is about far more than the exchange of goods and services.    


The ever growing, British community in the UAE is proud of its contribution to the UAE’s story, and personal and cultural ties are critical to this across numerous sectors, nowhere more so than in the field of financial services.  

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Digital Transformation in Audit: Blockchain, Data Analytics, Real-Time Reporting
Kreston Menon
Audit has always been about trust, accuracy, and compliance. But the methods and tools used are no longer the same as they were even a decade ago. With digital transformation reshaping industries, auditing is moving towards technology-driven practices. Blockchain Auditing, advanced analytics, and real-time reporting are becoming the foundation of how audits are conducted worldwide, including in the UAE. This shift is not optional anymore; it is shaping the skills auditors need, the way firms operate, as well as the expectations of businesses.

Continue reading the blog ‘Digital Transformation in Audit: Blockchain, Data Analytics, Real-Time Reporting’ to grab further insights on this. 

Table of Contents



How Audit Processes Are Changing Globally and in the UAE





Traditionally, audits relied heavily on sampling and periodic checks. That approach made sense when data was limited and systems were paper-based. Today, businesses generate massive volumes of data, and stakeholders expect faster insights. Globally, audits are moving from static annual reviews to continuous evaluation. In the UAE, where regulations are tightening and businesses are scaling across borders, the expectation is for more transparent and timely reporting. Regulators are also encouraging the use of digital tools to improve reliability and reduce risks.

The UAE has taken a leading role in adapting to these global changes. Government-led digital transformation programs, such as smart government initiatives and blockchain adoption strategies, are influencing the way audits are carried out. For companies operating in free zones and mainland structures alike, the audit function is no longer just about financial compliance but, it is more about showing operational resilience and alignment with regulatory expectations.


Blockchain Audit: Building Trust in Data


Blockchain technology is bringing new possibilities to assurance. Since it records transactions in an immutable ledger, it offers a transparent way to verify financial data. Here, auditors can check transactions directly at the source without relying only on reconciliations provided by clients. The benefit is clear: greater accuracy, fewer manual interventions, and stronger trust in reported numbers.

For global companies with operations in the UAE, blockchain audit is also significant because it helps bridge compliance with international reporting standards. Cross-border operations involve multiple financial systems, and blockchain ensures data integrity across all of them. The potential for error or manipulation is reduced, allowing auditors to focus more on analysis than on verification.


Blockchain Auditing and Smart Contracts


One area gaining attention is blockchain smart contracts audit. Smart contracts execute transactions automatically when certain conditions are met. While this adds efficiency, it also introduces risks if the code is flawed or if security gaps exist. Auditing smart contracts requires both financial knowledge and technical skill to review coding logic, security vulnerabilities, and compliance with legal frameworks. This is where blockchain auditing extends beyond numbers, it joins technology with assurance.

In the UAE, smart contracts are particularly relevant for industries such as real estate, supply chain, and trade finance, where transactions are frequent and high-value. Auditors who understand how to assess these contracts provide clients with an added layer of security and confidence in their operations.


Data Analytics in Audit: Making Insights Practical


The volume of financial and operational data available to businesses is overwhelming. Nowadays, auditors are not just checking balances; they are analyzing patterns, anomalies, and risks hidden in datasets. Data analytics in audit allows firms to test entire populations rather than small samples. What this really means is better detection of irregularities, faster decision-making, and deeper insights for clients.

Internal audit and data analytics best practices now focus on integrating data tools early in the process, setting clear objectives for what to test, and ensuring data quality before drawing conclusions. In the UAE, where businesses often manage multinational operations, this approach is even more valuable. Auditors can evaluate consolidated financials in detail without being slowed down by manual processes.


Real-Time Audit Reporting


The old model of waiting months for an audit report does not fit modern business needs. Real-time audit reporting enables auditors to provide ongoing updates as data flows in. This approach reduces surprises at year-end and gives management timely insights to act upon.

The difference between continuous auditing vs real-time reporting lies in scope: continuous auditing focuses on ongoing controls and compliance checks, while real-time reporting emphasizes delivering insights quickly to support business decisions. Both are becoming essential parts of the modern audit process. In the UAE, where companies are often subject to both local regulations and international compliance standards, the ability to report in real time is increasingly valuable.



Several trends are shaping the profession:

  • Greater use of automation to handle repetitive tasks.
  • Demand for cybersecurity audits as digital threats increase.
  • Increased reliance on cloud platforms to manage audit workflows.
  • Integration of artificial intelligence in testing large datasets.
  • Expectation for auditors to provide assurance and insights into performance.
  • Adoption of sustainability reporting as ESG requirements grow.
These trends are not isolated to global markets; they are visible in the UAE as well, where regulators and businesses are seeking digitization at a rapid pace. The demand for transparent financial data is rising, and firms that can provide these insights through technology are gaining a competitive edge.



Looking ahead to 2025, audit firms in the UAE will face three key shifts:

Regulation-Driven Technology Adoption

Compliance requirements will push firms to adopt blockchain and advanced analytics to improve transparency.

Talent Transformation

Firms will seek auditors with hybrid skills, finance plus data science.

Real-Time Compliance Monitoring

Businesses in the UAE, especially in financial services and free zones, will expect audit results delivered on demand.

The UAE is positioning itself as a regional hub for innovation in auditing, supported by government policies that encourage technology adoption. This transformation is not just about tools but it is also about mindset. Firms that adapt quickly will remain competitive, while others risk being left behind.

Also Read: Documents Required for VAT Registration UAE

Skills Audit Firms Are Looking For


The skills required for auditors are changing. Firms now value professionals who can:

  • Work with data visualization tools.
  • Understand blockchain applications in financial auditing.
  • Apply AI as well as machine learning techniques to identify risks.
  • Collaborate across teams, blending accounting knowledge with IT expertise.
  • Communicate findings clearly to both technical and non-technical stakeholders.
In the UAE, where multilingual and multicultural workforces are common, communication and adaptability are also highly valued. Technical ability is becoming just as important as financial knowledge, reflecting the new nature of auditing where technology is embedded at every stage.


Benefits of Data Analytics for Auditors



The practical benefits of analytics are hard to ignore:

More Accurate Risk Assessments

Data analytics allows auditors to analyze entire data sets instead of relying only on samples. This broader view improves accuracy in identifying areas of potential concern, helping auditors focus on the risks that matter most.

Ability to Identify Fraud Faster

With analytics, unusual patterns, duplicate transactions, or outliers can be spotted in real time. This makes it possible to detect fraud earlier, reducing financial and reputational damage for organizations.

Reduced Time Spent on Manual Sampling

Traditional audits required auditors to manually select and review small samples of transactions. Analytics tools can scan all transactions automatically, saving time and allowing auditors to concentrate on interpretation and decision-making.

Clearer Communication of Findings Through Dashboards and Visuals

Analytics platforms present results through charts, dashboards, and interactive visuals. This makes it easier for management and stakeholders to understand findings quickly and take corrective action.

Stronger Alignment with Regulatory Requirements

Regulators expect timely and accurate reporting, and analytics help meet this demand by providing a full view of financial activity. Auditors can generate evidence-backed reports that align with compliance standards while reducing the risk of oversight.

Actually, data-driven audits do not just improve efficiency; they improve the value auditors bring to their clients. Firms can now move from being compliance checkers to strategic advisors. In the UAE, businesses are increasingly expecting this level of insight because it helps them stay competitive in international markets.


Challenges of Implementing Blockchain in Audit


While blockchain offers strong advantages, there are challenges to address:

  • Standardization is still lacking across industries
    Different industries and jurisdictions use blockchain in different ways, which makes it difficult to create a consistent audit approach.
  • Auditors need new technical skills
    Using blockchain for auditing requires knowledge of cryptography, distributed ledgers, and smart contracts, which many professionals are still learning.
  • Integration with existing financial systems can be complex
    Most companies still rely on traditional accounting systems, so connecting these with blockchain platforms often requires major adjustments.
  • Legal frameworks are still catching up with the pace of technology
    Regulations in many regions, including the UAE, are still evolving, which means auditors face uncertainty about compliance requirements.
  • High costs of adoption for smaller firms
    Implementing blockchain solutions often requires heavy investment in infrastructure and training, which can, in turn, be a barrier for smaller audit practices.
These challenges explain why blockchain adoption in audits is progressing step by step rather than overnight. Still, the momentum is clear, and audit firms are preparing for broader use. In the UAE, where the government actively promotes blockchain adoption, overcoming these challenges is a priority for both regulators and firms.


Future of Auditing: AI, Blockchain & Analytics


The future is about combining multiple technologies rather than relying on one. AI will support anomaly detection and predictive analytics. Blockchain will secure transaction data and smart contracts. Analytics will turn raw data into useful insights. Together, they will reconceive the audit profession into a more forward-looking function. Instead of simply validating the past, audits will increasingly guide future decision-making.

For Audit firms in the UAE, this shift will also align with the country’s vision of being a digital economy leader. Businesses will expect auditors to understand both accounting standards as well as technology ecosystems.


Internal Audit and Data Analytics Best Practices





For internal auditors, adopting data analytics requires discipline. Best practices include:

  • Starting with clear objectives on what risks to assess.
  • Using high-quality, verified data sources.
  • Building dashboards that are simple enough for non-technical stakeholders to understand.
  • Regularly updating models to reflect new risks.
  • Training internal audit teams to interpret analytical results confidently.
By performing these practices, internal audits can become more reliable and relevant for decision-makers. For companies in the UAE, where businesses often operate in highly regulated industries like banking and healthcare, best practices in data analytics help reduce compliance risks and improve governance.

To recapitulate, auditing is changing fast, moving away from traditional checks to more tech-driven practices. With blockchain, data analytics, and real-time reporting, firms in the UAE can offer greater trust and timely insights. The future belongs to auditors who make use of these tools and bring real value beyond compliance.


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