IAS 38 Intangible Assets
Compliance and Guidance for Dubai Businesses
Intangible Assets in Dubai Businesses
In today’s competitive Dubai market, companies are increasingly dependent on intangible assets such as software, trademarks, and intellectual property to gain a strategic advantage. These assets play a vital role in innovation and business expansion. However, accounting for such assets requires precision and strict adherence to international standards—specifically, IAS 38 Intangible Assets, the IFRS standard that governs recognition, measurement, and disclosure of non-physical assets.
IFRS Compliance Dubai
For Dubai-based businesses, aligning with IFRS compliance standards is critical to ensuring credibility with investors, regulators, and financial institutions. IAS 38 Intangible Assets is an essential part of this compliance framework. It outlines the conditions under which intangible assets should be recognized in financial statements and ensures consistency in valuation across jurisdictions.
Financial Reporting Standards in UAE
The UAE mandates compliance with International Financial Reporting Standards (IFRS), making IAS 38 Intangible Assets applicable to all businesses operating within the region. This standard requires companies to assess whether intangible assets such as customer lists, licenses, or internally developed software meet the criteria for capitalization—identifiability, control, and expected future economic benefits.
Auditing Intangible Assets in Dubai
Auditors in Dubai pay close attention to the treatment of intangible assets in financial statements. Proper application of IAS 38 Intangible Assets helps avoid misstatements and ensures accuracy during audits. Assets must be tested for impairment, especially if they are not amortized (as in the case of those with an indefinite useful life), and disclosures must be thorough.
Accounting Services for Intangible Assets UAE
Understanding the difference between research and development phases is crucial when applying IAS 38 Intangible Assets. Costs incurred during the research phase are expensed, while development costs may be capitalized if certain conditions are met. Our accounting services ensure that intangible assets are properly recognized, whether acquired or internally generated.
Singiri Auditing Intangible Assets Support
At Singiri Auditing, we provide end-to-end support for companies navigating IAS 38 Intangible Assets. From recognition to impairment testing and full disclosure, our team ensures that your intangible assets comply with IFRS. We help businesses in Dubai establish accounting policies that align with international best practices, reducing risk and increasing transparency.
Dubai IFRS Advisors
With deep expertise in international accounting standards, our Dubai-based IFRS advisors help businesses apply IAS 38 Intangible Assets accurately. Whether your business is a startup building intellectual property or a large firm managing a software portfolio, our consultants ensure your intangible assets are recognized and measured correctly.
UAE Business Compliance with IAS 38
Complying with IAS 38 Intangible Assets is not just about ticking boxes—it’s about presenting a true and fair view of your company’s value. UAE businesses that manage their intangible assets correctly not only meet audit and regulatory requirements but also enhance investor confidence and strategic positioning.
Why Choose Singiri Auditing?
Expert understanding of IAS 38 Intangible Assets
In-depth experience with Dubai businesses across sectors
Tailored solutions for IFRS reporting and compliance
Transparent, cost-effective accounting services.
Contact us today to ensure your intangible assets are reported in full compliance with IAS 38 Intangible Assets and international standards.
