BMS Auditing unveils new Dubai headquarters and launches global audit literacy campaign
BMS Auditing LLC, a leading audit and consulting firm headquartered in Dubai with fully owned offices across all six GCC countries, the UK, and the USA, has announced major strategic initiatives aimed at enhancing audit transparency and strengthening financial competence on a global scale. Recognised as one of only 25 ICV-certified audit bodies by the UAE Ministry of Industry & Advanced Technology and among the exclusive 20 firms approved by the UAE Central Bank for official audit reportage — BMS continues to set new benchmarks in the industry.
The announcement was made during a high-profile press conference at the Crowne Plaza Hotel, Deira, where senior executives revealed the near-completion of BMS's new, state-of-the-art corporate headquarters in Dubai. Expected to be fully operational within a month, the office will feature cutting-edge infrastructure and connectivity, underlining the company's steadfast commitment to advancing audit literacy and corporate governance.
"Our new Dubai hub, supported by a team of 400 professionals, marks a transformative step in advancing audit education across regions," said CA Shehinsha K P, CEO of BMS Auditing. "This is part of our broader campaign comprising seminars and interactive workshops across the GCC, UK, and USA to elevate corporate governance standards globally." He also unveiled an ambitious hiring plan, stating that the company is actively recruiting over 100 professionals to support growth across the GCC and Western markets.
Selvan Dharmaraj, senior director, added: "Our ICV and Central Bank credentials empower our clients with competitive leverage, enabling them to secure high-value contracts and benefit from streamlined financial services."
Panelists at the event highlighted BMS's regional agility and international reach:
Paul Gillies, Partner (UK), emphasised the firm's East-West integration model, delivering cohesive services across jurisdictions.
Badar Saif Al Kindi, Partner (Oman), spoke on 'context-sensitive delivery, rooted in local laws, cultural nuances, and diverse tax environments.
Musthafa Pallikkalakath, global advisor, reaffirmed the firm's ethical foundation: 'Our strong ethical framework is the bedrock of client trust and long-term accountability.'
During an engaging Q&A session, the panel fielded questions on compliance standards, the deployment of digital audit tools, seminar content, and strategies for expanding audit literacy among SMEs and corporations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
8 minutes ago
- Arabian Business
Dubai's housing strategy works for the 1% – and the 99%
On one side, a magnet for the ultra-wealthy, Dubai's luxury market dazzles with sky-high towers, private islands, and exclusive communities. On the other, a fast-growing segment of remote workers and digital nomads seek affordable, flexible living arrangements. Distinct yet intertwined, these two worlds shape the city's evolving real estate story in ways that reveal Dubai's unique position on the global stage. A tale of two markets A recent Knight Frank report reveals that Dubai held its title as the world's most active market for homes valued above $10 million for the second year running, recording 435 sales in the luxury segment throughout 2024—almost equal to the combined sales of London and New York. This segment values bespoke experiences, private pools, concierge services, and exclusive golf courses are staples that satisfy buyers craving distinction. Conversely, a new breed of residents has been reshaping demand with radically different priorities. Digital nomads and remote workers, often younger and more mobile, prize flexibility over extravagance. Co-living spaces, furnished apartments, and short-term leases dominate their choices. Dubai's government initiatives, such as the Virtual Working Program launched in 2021, have attracted thousands to settle in the city temporarily. Neighbourhoods like Dubai Internet City, Jumeirah Village Circle (JVC) and Al Quoz thrive as vibrant hubs offering affordable options combined with fast internet and easy access to co-working facilities. Shifting consumer needs redefine value The rise of the digital nomad signals a broader change in how people value real estate. For many in this cohort, location is less about proximity to business districts or landmarks and more about community, lifestyle, and adaptability. Their choices often emphasise shared amenities, social engagement, and urban vibrancy. This contrasts sharply with the ultra-wealthy, for whom exclusivity and seclusion form the essence of value. Developers and investors face a balancing act. Catering exclusively to luxury buyers risks overlooking a swelling demographic seeking attainable options. Meanwhile, focusing solely on affordability without quality and lifestyle risks alienating aspirational residents. Dubai's real estate market is bridging this divide, with mixed-use developments like City Walk and District 2020 integrating high-end residences alongside flexible workspaces and community-driven environments. Balancing exclusivity with inclusivity Dubai's real estate success depends on weaving inclusivity into a fabric historically defined by exclusivity. The city's strategic vision acknowledges that prosperity thrives through diversity. Fostering developments that welcome both the ultra-wealthy and the digital nomad, Dubai leverages the strengths of both markets. Take Bluewaters Island, a luxury destination featuring upscale residences, hotels, and entertainment, yet seamlessly connected to the broader city via public transport and pedestrian-friendly pathways. Such an integration invites a wider audience to participate in the lifestyle while preserving the allure of exclusivity. Meanwhile, districts like JVC cater to mid-income residents and remote workers with affordable villas and apartments that offer community spaces and access to retail and leisure amenities. This dual approach strengthens the city's resilience. It cushions market fluctuations by diversifying demand and fuels innovation as different resident profiles bring varied economic activity and cultural influences. The co-existence of exclusivity and inclusivity becomes a driver of sustainable growth rather than a source of conflict. A bridge between two worlds Few cities combine global luxury appeal with a progressive digital workforce as effectively as Dubai. Its geographic location, robust infrastructure, and open economy create a unique gateway connecting East and West, tradition and innovation, wealth and accessibility. The digital nomad trend, while global, finds fertile ground in Dubai due to supportive policies, a thriving startup ecosystem, and world-class amenities. In parallel, Dubai's luxury real estate maintains its position as a haven for capital and lifestyle investment amid shifting geopolitical and economic tides. Globally, cities like London and New York have witnessed similar dualities but struggle with affordability crises and fragmented policy responses. Dubai's ability to strategically nurture both ends of the spectrum offers a model for sustainable urban evolution. A new social contract The co-existence of billionaire playgrounds and digital nomad havens signals a new social contract where diverse aspirations are validated within one cityscape. Urban planners and developers must embrace this complexity as a strength. Designing spaces that encourage interaction between different socio-economic groups could spark innovation and foster empathy. The future belongs to cities that understand how to weave diverse lifestyles together in a smooth and balanced way.
Zawya
11 minutes ago
- Zawya
Wall St futures edge lower as Middle East war enters second week
Wall Street stock index futures edged lower on Friday as investors assessed comments on U.S. military involvement in the Middle East conflict, and Federal Reserve Chair Jerome Powell's warning on rising inflation ahead. As the fatal aerial war between Israel and Iran approached its second week, the White House said on Thursday President Donald Trump will decide in the next two weeks whether the U.S. will get involved on Israel's side. "While the immediate prospect of a U.S. intervention in Iran may have diminished, the fact this is reportedly a two-week hiatus means it will remain a live issue for the markets going into next week," Dan Coatsworth, investment analyst at AJ Bell, said in an email. The oil price volatility triggered by the Middle East conflict has also added on to concerns around tariff-based price pressures in the United States. The Fed, expected to balance the risk of slowing growth and higher inflation, kept interest rates unchanged on Wednesday, in line with market expectations. Policymakers, however, cautioned about inflation picking up pace over the summer as the economic effects of steep import tariffs kick in. Money market moves show traders are pricing in about 47 basis points of rate cuts by the end of 2025, with a 59% chance of a 25-bps rate cut in September, according to CME Group's FedWatch tool. At 05:37 a.m. ET, Dow E-minis were down 105 points, or 0.25%, S&P 500 E-minis were down 16.75 points, or 0.28%, and Nasdaq 100 E-minis were down 67.5 points, or 0.31% The S&P 500 and the Nasdaq are set for weekly gains, while the blue-chip Dow is on track for mild weekly declines. Crypto stocks rose in premarket trade as bitcoin prices soared nearly 2%. Coinbase Global was up 1.8%, and Strategy gained 1.1%. Shares of Tesla gained 1.2% among megacap stocks. Supermarket operator Kroger Co gained nearly 1% ahead of quarterly results due before the opening bell. Stablecoin issuer Circle extended gains from its previous session, with shares last up 12.6%. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index stood nearly 3% below its record level, and the tech-heavy Nasdaq remained 3.3% lower. Philadelphia Fed business outlook data for June is scheduled at 08:30 a.m. ET. (Reporting by Kanchana Chakravarty in Bengaluru; Editing by Devika Syamnath)
Zawya
30 minutes ago
- Zawya
Accenture beats third-quarter revenue estimates
Accenture beat Wall Street estimates for third-quarter revenue on Friday, driven by growing demand for the consulting giant's AI-driven services from enterprise customers. It reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG. Shares of the company fell 2.6% in premarket trading after Accenture said new bookings decreased 6% to $19.7 billion in the third quarter. The company is grappling with weak U.S. federal contracting environment as the Trump administration has slowed new contracts and cut existing agreements in a bid to reduce federal spending. The company said these changes have not had a material impact on its operations or financial condition. (Reporting by Meghana Khare and Jaspreet Singh in Bengaluru; Editing by Shinjini Ganguli)
