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AUDIT & ASSURANCE

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In today's changing global economy, before any business can create value, it must create trust - businesses need trusted advisers. We believe that assurance goes beyond our statutory responsibilities to report on a company's accounts, which is why Audit & Assurance is one of our firm's core service lines.
Our audit & assurance experts take the time to understand your business as well as the sectors in which you operate. We can help you identify major risks and opportunities over and above performance of the traditional financial reporting function. Supported by advanced technology, we are constantly looking for ways to improve efficiencies and enhance client service.

Our audit and assurance services include the following:

External Audit

The key to maintaining trust between a company and its stakeholders is undoubtedly a credible audit. Evolving regulatory requirements, coupled with growing stakeholder demands for transparency and accountability, are requiring companies around the world to reinvigorate the importance of audits and auditors in the financial reporting chain. But the concept of audit goes far beyond mere compliance elements and is a prerequisite for strong and sound financial management. The auditor's report aims to highlight whether the financial statements prepared by an organization give a true and fair view of its position and whether they are prepared in accordance with an appropriate reporting framework
At ABK Saqer Auditing, we customize our audit services to meet the specific needs of each client. Our experienced team of audit professionals have a thorough understanding of relevant reporting frameworks and auditing standards, ensuring our audit reports are highly valuable and reliable.

Internal Audit

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Internal audit provides an unbiased, independent reviews of systems, business organization and processes. Internal audit enables the management of an organization to obtain an understanding regarding the following:
- The organization's risk
- Control Environment
- Operational Effectiveness
- Compliance with applicable laws and regulations
Our internal audit team offers a dedicated commercial approach to help you control and improve your business. Independent assurance from us should enhance your business and its reputation with existing owners, potential new investors and providers of finance.
Our independence enables us to stand back and provide impartial advice. At the same time we hope to become a valuable part of your team, providing constructive and commercial input
o We analyze, in depth, the internal controls and accounting policies.
o We provide regular reports on on-going performance of the company.
o We verify transactions and report compliance with respect to the company's policies & procedures
o We ensure early detection of fraud and mitigate its effect on the business.

Fraud Investigation

The state of affairs, books of accounts, financial statements, and business practices must always be thoroughly investigated whenever a corporation detects any nefarious activity or fraud within the enterprise. One of the biggest risk that any company faces is fraud, which can have negative consequences like damage to the company's reputation, financial loss, and other losses.
This is when the function of investigative auditors, who work independently of the company and conduct a thorough, impartial inquiry, comes into picture. To determine the precise degree of a committed fraud, a fraud investigation is necessary. Finding the flaws or inadequacies that allowed this fraud to occur is also crucial. A fraud investigation would assist a business in determining the actual loss suffered by that business in terms of both financial and non-financial components. If there is a legal action taken against it, a thorough fraud investigation report along with evidence collected will be helpful.
At ABK Saqer Auditing our team of qualified professionals can help you with fraud investigation. Our expertise includes looking into the theft of money, assets, or other financial resources from the business.

Stock Audit

A stock audit program's goals are to confirm the existence, accuracy, and ownership rights of the items in the company's inventory as well as their realizable value. A robust bookkeeping system and MIS reporting depend on precise inventory accounting. Since there is a lot of movement in the inventory during business hours, routine physical verification requires careful planning, the deployment of resources, and subject-matter expertise.
Our team of specialists can help you with inventory auditing and verification and properly reconcile your current stock records. We can determine whether there is an excess or deficit of stock on hand as well as any outdated or damaged stock through our inventory verification and valuation services. In addition to reducing wastage and losses brought on by fraud or damage, effective stock audit services assist management in improving internal control over the inventory counting process.

VALUE ADDED TAX (VAT)

Value Added Tax (or VAT) is an indirect tax imposed on the supply of most goods and services. An inherent feature of VAT is the self-assessment nature, which makes it a must for every VAT-registered business to record, assess and report its VAT obligations and entitlements, in accordance with the law to the tax authorities. Handling VAT can be challenging for a company. ABK SAQER AUDITING as one of the leading auditing and accounting firms in the UAE, we help resolve this challenge effectively. Our team of experienced professionals will assist you with the below mentioned services:

  • Assistance in VAT Registration
  • VAT Return filing
  • VAT Advisory services
  • VAT training
  • VAT deregistration
  • Assistance during FTA Audit

CORPORATE TAX

On 31 January 2022, the UAE Ministry of Finance ('MoF') announced the introduction of a federal corporate tax ('CT') in the UAE that will be effective for financial years starting on or after 1 June 2023. The UAE CT regime will be based on international best practices, with a low / minimal compliance burden on businesses. The Ministry of Finance has announced the introduction of a 9% federal corporate tax in UAE on business profits with a threshold of AED 375,000. Businesses operating in the UAE (from Offshore and Onshore) will need to consider the impact of Corporate Tax on their transactions including cross-border transactions and entity structure and ensure compliance with the new Corporate Tax requirements. Planning early on corporate tax will be crucial for businesses operating in the UAE.
We at ABK SAQER AUDITING with our experience and expertise will guide you each step of the way in smooth implementation of corporate tax. Our experienced team of tax professionals will assist you with the following services:

    • Analysing and understanding your business model to assess the applicability of UAE CT law and the impact it would have on your business
  • Assisting in implementation of Corporate tax
  • Providing Corporate tax training to staff and management
  • Corporate tax advisory
  • Advisory on transfer pricing

BUSINESS PLANNING

A feasibility study is normally less than 20% of the cost of a business plan and although a feasibility study will not be anywhere close to the in-depth "nuts and bolts" view of a business plan, it will do exactly what the name implies. It will show if a project is feasible before any other steps are taken or indeed paid for.
There are very big differences between a feasibility study and a business plan. A feasibility study is designed to discover if a business or project is "feasible" or if it is not: (In short, does the business or project warrant further investment of time, money and further study or is it a non starter). A feasibility study is a relatively inexpensive way to safeguard any wastage of further investment (will it work or won't it).
If a project is seen to be feasible from the results of the study, the next logical step is to commission a full business plan. Will the investment made in the feasibility study itself then be wasted? No.. Because the research and information uncovered in the study will be of good use in the business planning stage and will also reduce the research time and therefore the cost of the business plan.
A business plan is designed to "plan" in advance how a business or project will be started, implemented and managed: (In short, a working "blue print" of the entire operation of the business or project). Business plans are commissioned for one of three reasons: Reorganization, investment/funding or a management blueprint for operation.

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INTERNAL AUDIT

Accounting Services

We at ABK SAQER AUDITING, Chartered Accountants, undertake book keeping and prepare management accounts in any format as you require. Our experienced team can prepare the accounts accurately on a timely basis as per the statutory requirements. Our primary focus is on assisting with the interpretation of the accounts to help you make the best business decisions

  • We provide part-time & periodic accounting services by qualified and experience accountants
  • We ensure accounting & reporting as per the accounting standards prescribed by the Institute of Chartered Accountants of India.
  • We provide periodic management reports to monitor your business
  • We can train & supervise your accountant on a periodic basis.
Internal Audits:

Our internal audit team offers a dedicated commercial approach to help you control and improve your business. Independent assurance from us should enhance your business and its reputation with existing owners, potential new investors and providers of finance.
Our independence enables us to stand back and provide impartial advice. At the same time we hope to become a valuable part of your team, providing constructive and commercial input

  • We analyze, in depth, the internal controls and accounting policies.
  • We provide regular reports on on-going performance of the company.
  • We verify transactions and report compliance with respect to the company's policies & procedures
  • We ensure early detection of fraud and mitigate its effect on the business.

DUE DILIGENCE & BUSINESS VALUATION

A lot of business owners have an inflated estimate of the value of their business, and we see a lot of situations where people buying a business are really just buying themselves a job. So how do you know whether or not the price placed on a business by its owner is correct or not.
Due diligence is a further matter that needs to be considered, and this involves delving into the background of the business to make sure that you as the new business owner are not assuming responsibility for any unknown liabilities, that the financial information the valuation has been based on is true and correct, identifying any issues that could effect the business in the future, and related matters
We have extensive experience in valuing businesses and undertaking due diligence and it's important that you discuss this matter before you get to far down the track when purchasing a business (and/or selling a business also).

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COMPANY FORMATION & IN-CORPORATION

Our services include Company Formations, Company Registrations, Limited Liability (LLC) Company Registrations, Company Incorporations and Offshore Corporations.
We offer company formation packages to meet the needs of any size or type of company. What sets us apart from the competition is our fast and competitive incorporation service.
Our network with banks helps us start up accounts for you quickly. You can take advantage of our unique automated arrangement of the application form on line whilst ordering your company.
An incorporation of a company is its compulsory requirement for its existence. Promoter is usually the person who undertakes all the necessary steps for the incorporation. Incorporation can be defined as the process by which the company gets a separate legal entity. Now let us discuss the number of steps which are required to be fulfilled for the incorporation of the company

STRATEGIC CONSULTING & BUSINESS PROCESS RE-ENGINEERING

Since our corporate focus is on developing custom applications using leading-edge technology, we evaluate business processes from a business domain independent viewpoint, and concentrate on working with our client to combine their domain expertise with our technology expertise to realize a solution that best fits their business improvement goals.
While we have experience in building solutions for many different industry verticals and federal/state/local government agencies, we believe that the client knows their business best and our value is helping them understand how to apply technology to innovate and transform their business.

Our Approach:

Our network with banks helps us start up accounts for you quickly. You can take advantage of our unique automated arrangement of the application form on line whilst ordering your company.
Through our participation in key Microsoft Partner Advisory groups, AIS has early access to and understanding of key innovations in workflow automation, systems integration and data management

ACCOUNTING & BOOK KEEPING

Accounting and bookkeeping services are essential for an organization's development since they make it easier to keep track of revenues and expenditures. By assuring the correctness of your financial statements, a competent and knowledgeable accountant or bookkeeper contributes to the efficient operation of your company.
We at ABK SAQER AUDITING, Chartered Accountants, undertake book keeping and prepare management accounts in any format as you require. Our experienced team can prepare the accounts accurately on a timely basis as per the statutory requirements. Our primary focus is on assisting with the interpretation of the accounts to help you make the best business decisions
o We provide part-time & periodic accounting services by qualified and experience accountants
o We ensure accounting & reporting as per the International Financial Reporting Standards.
o We provide periodic management reports to monitor your business
o We can train & supervise your accountant on a periodic basis.