ACCOUNTING & BOOKKEEPING SERVICES IN DUBAI, UAE
Accounting and Bookkeeping Services in Dubai, UAE
ACCOUNTING & BOOKKEEPING SERVICES IN DUBAI, UAE
Accounting and Bookkeeping Services in Dubai, UAE
Audit & Assurance Service in Dubai, UAE
Audit & Assurance Service in the UAE is much more than verifying just figures and numbers. Audit & Assurances systematic review and inspection of the Entity’s accounts & controls. Generally, these are performed by external Parties to get a clear view and position on the state of affairs of the Company.
Since Business Owners, Investors, are busy with their core operating activities the overall performance, Internal controls, and state of affairs are not checked or verified. This is where Audit & Assurance Service in the UAE plays a vital role in providing Stakeholders with reasonable assurance on the affairs of the business.
The audit is providing the opinion on the Financials Statements and is to ensure that information provided is of required quality and is acceptable worldwide. For the Financial Statements to be accepted worldwide, it needs to be audited in line with International Standards on Auditing. These standards are interlinked and hence need to be applied in unity.
AUDIT & ASSURANCE SERVICES
Audit and Assurance Services in Dubai, UAE
Accounting and Book-Keeping Services in the UAE
Accounting and Book-Keeping Services
Accounting and Book-Keeping Services contact SPS Management Consultancies Co LLC – Professional top-quality accounting and book-keeping outsourcing services in Dubai, UAE.
Operational due diligence
Operational due diligence deals with the review of non-financial matters of a business, which may include insurance and risk assessment, HR practices, review of systems and processes, evaluation of the management team, etc.
Financial due diligence
Financial due diligence (FDD) is a process where due diligence is required to validate financial statements. The goal of the process is to ensure that the data shown in the financial statements matches with key information the investor needs. A successful FDD engagement reveals the red flags and exposes the deal breakers and highlights areas that appear weaker to the stakeholders.
Financial due diligence services help the buyer to assess financial risks of a potential acquisition to determine what the benefits, liabilities, risks, and opportunities are. Some of the areas specifically looked at in the analysis of FDD:
- Company history and background
- Operating effectiveness and earnings quality
- Employs efficiency and management quality
- Trends and forecasts of future financial performance
- Current staff structure and benefit assessment
Legal due diligence
Legal due diligence includes investigating any legal risks associated with the target company’s rights and obligations. This issue may involve regulatory approvals, licenses, and other government-related matters.
Macro-environment due diligence
Economic-related risks and unpredictable factors that influence an organization’s decision making and affect its performance and strategies. It considers:
- Economic situation
- Industry dynamics
- IT condition
IT due diligence
It is a fundamental part of the strategic planning process. IT is considered a value-adding part during the implementation of the plan. The marketing audit examines an organization’s internal and external marketing environment and assesses its marketing objectives, strategies, and activities.
Production due diligence
Production due diligence records the production & distribution to ensure that they are appropriately maintained. Also, verify the logbook of machinery to confirm the effective and efficient performance.
Management due diligence
This due diligence examines the actions and tactics of the management to analyze their performance. Management audit involves the review of the organization’s internal controls, policies, procedures, structures, controls, etc. to check the management efficiency or inefficiency.
Information system due diligence
It helps in analyzing the adequacy and controls in the Information Technology (IT) infrastructure. It looks for vulnerabilities and data safeguard mechanisms. These reviews may be performed in conjunction with a financial statement audit or stand-alone for enhancement and detection purposes.
Accounting Outsourcing Company in Dubai, UAE.
Accounting Outsourcing Service
CLA Emirates (Formerly Emirates Chartered Accountants Group) –
experienced in handling your accounting and finances efficiently.
Call for Consultation
Mr. Arun Sankaran | Senior Manager
+971 55 1030960
Email: Arun.Sankaran@uaecla.com
Regular Accounting Services
The daily transactions of the company are recorded in the accounting software on a periodic basis and reports are generated on a monthly/quarterly basis. Statutory financials will align with tax management.
Weekly Visit Services: Our team visits on a weekly, bi-weekly, or site-based schedule for data transfer and query solving. Work includes transactional data punch-in, sales, receipts, payments, bank and other schedule transactions, reconciling transactions on a practical basis, and invoicing transactions and documents which ultimately connect with UAE Tax rules.
Monthly Visit (Onsite/Offsite): Based on the size of the company/complexity of your data, we visit UAE offices/clients to complete updating the books of accounts/transactions and documentation. After month-end, the books of accounts are closed and MIS Reports are shared for review. Reports are also shared with company auditors or stakeholders who guide finance, data insights, fund requests, forecasting, budgeting, etc.
Updating old/delay accounts from our accounts office: Company accounts often get backlogged with less support in their offices. We take the documents, digitize the transactions daily, finalize the accounts for audits, share schedules with auditors, and re-coordinate with the audit team support. After year-end, these transactions are reconciled using internal checklists. Trial Balance, P&L, Balance Sheet, and VAT workings will be provided from our office.
Our MIS Report includes all system-generated reports at the end of every month and financial analysis will be extrapolated into the report. It also focuses on receivables/payables updates, bank reconciliations, aging reports, sales, cashflows, and VAT reconciliation. These reports are then shared with stakeholders.
Review of Accounting Transactions
Accounting entries in software do not always reflect the company’s data in a truly managerial view. We assist further by troubleshooting, balance-sheet-level reviews, and deeper analysis of GLs. This includes loan tracking, intercompany reconciliation, and business-specific add-ons for better audit trails. For many start-ups, we help bring in basic workflows and MIS culture that previously never existed.
Accounts Reconciliation Services
Reconciliation helps eliminate errors, mismatches in balances of input charts, customers’ ledgers, suppliers’ ledgers, inter-company, or any other internal company accounts. These services play an important role in UAE’s internal control processes. We reconcile, identify mismatches, explain reasons, and suggest necessary steps to avoid such errors in the future. It ensures the use of the official data and reduces the chances of fraud and corruption. Our reconciliation scope usually includes the following:
- Bank Statement Reconciliation / Vendor Payments Reconciliation
- Customer Ledger Reconciliation
- Intercompany Reconciliation
How we can help you with Accounting and Financial Reporting Services in the UAE?
We, SPS Management Consultancies Co LLC, can support you with Accounting and Financial Reporting by maintaining the books of accounts in an appropriate manner and ensuring compliance with all statutory requirements. We understand the requirements of every business and provide reports according to the needs of the management.
Availing our Accounting and Financial Reporting Services in the UAE gives you the following benefits:
- Improve the efficiency and productivity of the company because we can perform non-core tasks efficiently with qualified personnel.
- Access to the latest technology without investing large amounts of money to own accounting software.
- The efficiency of returning professionals and the transition process is far more effective.
- The hiring of managed accountants will be available at the lowest cost. Recruiting access to a new accountant during replacement can also be eliminated.
- Additional Staff benefit costs can be eliminated.