Now with the rapidly growing market of UAE SMEs, financial reporting is seen more as an occasional task than a business process. Businesses in Dubai place a strong focus on accounting and bookkeeping services to record transactions, expecting that good bookkeeping will produce accurate financial reports. However, this practice leaves gaps in financial visibility, regulation, and business decision-making.

Source: https://www.ebs.ae/month-end-close-process-for-uae-smes-7-step-big-4-accountant-checklist/