What Do You Think About Auditing and Accounting Services in UAE?

auditing and accounting services in UAE

It is the responsibility of an audit and accounting services provider firm to introduce and implement innovative and cost-effective strategies that bring measurable outcome. It must be the aim of auditing and accounting services in UAE to provide meet your expectations with in time provision of above services.

The basic purpose will enable you to understand your business completely and assist you to achieve better control and confidence in your capital through their competent team.

Especially firms under the jurisdictions of onshore will generally have to manage and file annual accounts. Mostly these accounts used to be audited. It is considered as an offense for companies in offshore jurisdictions to fail to maintain financial reports, required present and elaborate firm’s transactions history with sensible accuracy mentioning the financial condition of the firm. Find out more detail and take help https://farahatco.com/services/audit-firms-in-dubai/ .

Auditing and Accounting Services in UAE generally hire qualified and experienced chartered accountants that can provide you with complete accounting services customized as per your requirement at a very affordable rate.

Accounting Services:

  • Bookkeeping Services: This service generally includes the maintenance and management of accounts for variety of clients ranging from a starter up to business setup generating annually millions. Services used t be planned as per user’s requirement. Bookkeeping services include the followings:
  • Recording business transactions in compliance with IFIRS
  • Business transactions must include income & expenses, receipts & payments & other adjustments.
  • Posting general ledger & other ledgers as required
  • Settlement of bank statements & making any required arrangements
  • Reconciliations of accounts
  • Managing Sales invoices
  • Bills and payments related to the Vendor
  • Preparation of Financial Statement: A financial statement is an official record related to the fiscal activities of a firm or business. It presents the financial condition and performance (presenting Profit or loss). It makes easier for the user to take necessary initiatives regarding future planning and also guide other users like banks or vendors in making decisions about the firm’s borrowing capacity. A complete set of financial statements will include the following:
  • Balance Sheet or Statement of Financial Position
  • Income Statement/ Profit & Loss Statement (Comprehensive Income)
  • Flow of  Cash Statement

Audit & Assurance services: the primary objective of an audit of financial statements is basically the independent verification of company’s financial statements, which enhance the worth and reliability of the financial statements generated by the management.  They also provide assistance during the audit of the firms by liaising with the Auditors, generating schedules and confirmation letters for auditors and solving the queries raised by auditors.

Benefits of Choosing Accounting and Auditing Services:

  • Low Cost: Induction of an employee as an accountant in UAE brings multiple obligations which enhance the overall cost of the firm, so the fixed monthly fees customized according to the consumer’s requirement will be more affordable and cost effective as compare to hire a full-time accountant.

Panel of Expert: Rather than depending on in-house employee, you will have easy access to the panel of expert related to accounting and audit firms in Dubai and UAE.