The Public Company Accounting Oversight Board (PCAOB) is advocating for auditors to play a more proactive role in identifying potential fraud at client companies. In a recent proposal, the PCAOB aims to require auditors to pinpoint areas of noncompliance that could materially impact the financial statements of the companies they audit. Currently, auditors of public …
DLA Piper, a prominent international law firm, is facing a lawsuit filed by a former attorney who claims she was unjustly fired for requesting maternity leave. Anisha Mehta, a senior associate in the firm’s intellectual property group, asserts in her discrimination lawsuit, filed in Manhattan federal court, that she was terminated less than a week …
New regulations regarding corporate tax in the United Arab Emirates (UAE) stipulate that qualifying income (QI) generated by qualifying Free Zone Persons (QFZPs) is subject to zero percent corporate tax, while non-qualifying income (NQI) is taxed at a rate of nine percent. The implementation of these tax laws is set to take effect soon, requiring …
The Central Bank of the United Arab Emirates (CBUAE) has issued comprehensive guidance for licensed financial institutions operating in the country, outlining the risks associated with virtual assets (VAs) and virtual asset service providers (VASPs). With the guidance set to take effect in July 2023, financial institutions have just one month to ensure compliance with …
The United Arab Emirates (UAE) government has recently unveiled a series of innovative work permits aimed at bolstering operational efficiency and productivity among federal employees. As part of the government’s ongoing efforts to streamline labor regulations, these new permits offer greater flexibility and diverse employment options to cater to the evolving needs of the workforce. …
The Bar Council of India (BCI) has entered into a Memorandum of Understanding (MoU) with the Bar Council and Law Society of England & Wales to facilitate an exchange programme for lawyers between the three countries. The signing of the MoU marks a significant step towards mutual learning and training opportunities in the legal profession. …
In a recent interview, the newly elected President of the Supreme Court Bar Association (SCBA), Senior Advocate Adish C Aggarwala, expressed his disagreement with the previous committee’s condemnation of the Bar Council of India’s statement opposing the hearing of same-sex marriage by the Supreme Court. During the interview, Dr. Aggarwala stated that India is not …
In a recent judgment, the National Company Law Appellate Tribunal (NCLAT) in New Delhi upheld the decision of the Adjudicating Authority regarding the issue of a pre-existing dispute in an insolvency case. The Division bench, consisting of Ashok Bhushan and Barun Mitra, ruled that a Corporate Debtor cannot raise the issue of a pre-existing dispute …
Three lawyers representing former President Donald Trump visited the U.S. Department of Justice on Monday amidst reports that federal prosecutors are finalizing an investigation into allegations of mishandling classified documents by the former president. Lindsey Halligan, John Rowley, and James Trusty, the lawyers in question, chose not to respond to inquiries as they exited the …
Prince Harry delivered a scathing rebuke of the “vile” press on Tuesday as he testified against a tabloid publisher in a London court. Accusing the tabloids of destroying his adolescence and personal relationships, Harry became the first senior British royal in over a century to appear as a witness in a legal case. During his …
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