Statutory Audit is a legally required external audit conducted annually to meet a specific set of requirements by the government. It relies on the internal audit reports, verification of financial information, documents and related stock validations. It includes:
Internal audit refers to the audit of internal control procedures adopted by an organization in furthering its objectives. Many organizations are realizing the need to address the risks that threaten strategic objectives around growth and profitability. At the same time, executives recognize the importance of implementing good governance practices to facilitate compliance with challenging and changing regulations. It includes:
Based on the organizational structure and need of the management and accounts & finance department, we provide training on Value Added Tax (VAT) to all the personnel of the organization who are coming under VAT compliance chain. The training to finance and accounts and IT personnel are in detail for applying the VAT concepts and for clarifying the procedural formalities required for complying the requirements. Training for managerial and other departments level are made for giving proper awareness of VAT structure and overall VAT compliance requirements.
It will not be always possible for the companies to look after the issues on tax matters and resolve it with the concerned authority (FTA) by itself. It will be necessary for the companies to appoint an expert to handle tax matters. By appointing a Tax Agent in the UAE by any taxable person (company or individual), he can count the following benefits:
Rather than just diving into a project and hoping for the best, a feasibility study allows project managers to investigate the possible negative and positive outcomes of a project before investing too much time and money.
A feasibility study is a way to evaluate the practicality and desirability of a project. Sometimes Accounting Companies want to understand input costs, the amount of research that will need to be done, or even the marketability of a project. With input prices, it is essential that companies understand, (even before they put time and research into the project), how much it would cost to go through with their product. Companies also like to know if they put time into research and go through with their change or promotion of a product, how the public/people will react to the change. Will people be fighting over the new product or will it fall through? The purpose of feasibility studies is to provide companies information and analysis on whether or not you or your company should pursue this course of action.
Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success.
Our service professionals study and analyze the industry and its various components, with an all-inclusive study of the changing market behavior. We provide businesses with an insight of the ‘industry, competition and market? Necessary to compete in today’s fast paced business environment. All feasibility studies carried out by us are used for effective decision support purposes. We focus on sensitivity analysis, making sure that feasibility studies show the full effect of changes on the key variables in varied sectors.
Great ideas alone don’t ensure a successful enterprise. A key underpinning of success is the ability to make solid financial projections that give an accurate picture of your business’s future and its predicted health.
Financial projections are a critical activity for every business irrespective of its age and size. For new enterprises, the preparation of financial projections is integral to the business planning process. For larger companies, financial planning forms part of annual budgeting and play an important role in long-term planning, business appraisals, corporate development etc.
The purpose of formulating the financial projection is to predict what the business is capable of in terms of revenues and profits, with the help of the assumptions made on potential costs, market size, prices, marketing conditions and so on. Usually the assumptions are made based on particular market conditions. The assumptions, which are found on the business plan and marketing plan, are forecasted by the known and available information about the variables involved in it. It also helps us to come to the conclusion about the growth pattern, ROI, return on equity, how much investment is needed for the business, financial methods and so on. Business plan financial projections should be both optimistic and realistic, based on research and experience rather than wishful thinking.
A good financial projection is very important for the business to run successfully and saves the company from travelling in wrong direction. Our team of professionally qualified accountants prides itself on providing customers with customized documents that are thorough, well-researched, and expertly written. Our team has consulted on thousands of business plans and tailors each one to your particular business, industry, location, and projected earnings. We have the experience and knowledge to help get your venture funded.
In recent years, the relevance and objectives of Internal Accounting Controls, have expanded far beyond the traditional ambit of protection against theft and fraud, well into the areas of effectiveness, accountability and operational efficiency of the organization.
The overall purpose of internal control is to help a company achieve its mission and accomplish certain goals and objectives. An effective internal control system helps to:
Companies face endless challenges in business and need to constantly evolve and innovate. Despite our close working relationship over the years, we are, in fact, outsiders to the clients’ organization and can therefore be objective in presenting our observations and suggestions. These relate to reportable conditions and other business processes, primarily at the enterprise level, which we note as by-products of our audit. These business advisory services are offered in the hope they will lead to a creative exchange of ideas, one which will result in meaningful actions to enhance the Company’s growth and profitability, or, to benefit and strengthen the Organization, while enhancing the depth and value of the professional relationship mutually, for the client and the Firm.
Our scope of services includes identification of business opportunities, facilitating joint ventures, partnerships, mergers and acquisition. As the auditors of several companies, we are in a unique position to provide clients with constructive ideas and insights. We collaboratively work to help our clients reinvent their business models by drawing upon our strong commercial acumen and invaluable knowledge founded on years of experience in diverse.
Whether you are starting a new business or have an established business, an infusion of funds is always welcome. But what type of financing is best for your business? There are so many factors to consider–from the stage of your business, to how much it’ll cost getting the money–that just choosing a path to follow can be overwhelming.
Deciding between equity financing and taking on a loan for your business is a challenge for all business owners when they need capital to expand a business. To help you get your head around the different ways you can finance the growth of your business, we provide funding advisory services for range of requirements; starting from assessment of client requirements, preparation of project reports / financial statements till finalization of funding and disbursement. We have liaison with various banks, financial institutions and other funding agencies and have expertise in the procedures adopted by them for the funding process.
A wave of mergers and acquisitions is taking over the entire world. Companies have always used this strategy to grow and consolidate, and to eliminate competitors. Moreover, one of the main arguments for carrying out these deals has been that they create synergies. M&A comes in all shapes and sizes, and investors need to consider the complex issues involved in M&A.
Our Firm has the expertise in Mergers & Acquisitions to manage the entire process, including working with legal representation or an in-house team. We can help you address every part of your merger or acquisition, from the intricacies of financial structures to management integration.
Mergers & Acquisitions Services includes:
Most businesses go through a phase of financial restructuring at some point, though not necessarily to address shortfalls. In some cases, the process of restructuring takes place as a means of allocating resources for a new marketing campaign or the launch of a new product line. When this happens, the restructure is often viewed as a sign that the company is financially stable and has set goals for future growth and expansion.
A company may also need to restructure its finances if it merges with or acquires another company. When two firms merge, their debt and equity are also combined, and the resulting corporation may have a very different debt-to-equity ratio than either of the original companies. An acquisition may even be used as a form of financial restructuring, as a company with a low debt-to-equity ratio may target a business with a high ratio as a means of better balancing its finances.
Our services in this field include:
The UAE with its strategic position in the Middle East offers an excellent opportunity for foreign companies to tap into the region's market by setting up in UAE. Many successful multinationals have already established themselves here and there is greater potential for development as is witnessed by the recent economic boom in the region. Despite global financial Hardship Dubai, has emerged as one of the top places in the world for international Business. The United Arab Emirates have been very receptive of business setup in Dubai. Professing a beneficial zero tax policy, the business culture is multinational and the growth potential is unlike in any other place.
Our team guides the clients to choose the right location for setting up a company and provide our clients with the necessary information and experience to enable them to better understand the business culture in the UAE. We are highly experienced professionals with cost effective price structure for all type of services. All services are delivered keeping highest professional standards, abiding by the most efficient, economical and accurate method.
The United Arab Emirates is a great choice to start a company and establish presence if the investor has a viable business setup plan and is looking to tap into one of the safest and most affluent markets in the world.
Through which door to enter the UAE - onshore or through a free zone - is not always a straightforward decision. The United Arab Emirates have in total more than 30 Free Trade Zones, where an onshore free zone company of almost any type and matching any requirement can be incorporated. At the same time each of the Free Trade Zones has its specifics, for example, Dubai Media City is the best suitable for media companies whereby the companies acting in the area of cargo ships management are often registered in Jebel Ali Free Zone.
While associating with Rao and Ross, clients get the combination of our intimate knowledge of the requirements and workings of the local government departments and of the various Free Zones in the UAE, which enable us the ability to precisely understand the unique needs of our client’s business. We are thus, able to recommend the best possible options and ensure the client’s business set up with minimal hassles and effort.
Most business people have heard about offshore companies. However, very few are aware of what these companies are used for and how they differ from other more common corporate entities. Offshore Company is a company incorporated for the purpose of operating outside the country of its registration and/or the place of residence of its directors, shareholders and beneficial owners. This is typically pursued to realize various financial, legal or tax benefits.
The United Arab Emirates represents a unique opportunity to the world today. It has a number of key advantages over other locations which, when combined, provide clients with the most confidential and secure offshore solution available anywhere. The main advantage of a Dubai Offshore Company is that it is a tax haven, not on any black list, has no exchange of information treaties and is a fully confidential jurisdiction.
Once you entrust us with this task you can rest assured that not only will all the regulations be complied with, but also that the entire process will be carried out smoothly and efficiently.
Our offices are in Dubai & Hamriyah Free Zone.
While trying to stay focused on the product or services, entrepreneurs cannot ignore the importance of accounting and bookkeeping because it is essential for businesses of all sizes to keep track of their performance through financials. Whether your business is self-funded, seeking investors or loans, accurate financial statements are a vital component to your success.
In today’s challenging business environment, an increasing number of companies are outsourcing their Vat Accounting Services in Dubai. By outsourcing your accounting position(s), your company will no longer have to endure the hiring process and lose valuable time and money training bookkeepers or controllers. Hence, you end up saving your business expenses without cutting down the productivity of your business.
We offer a wide range of accounting services to suit diverse client needs. We are very flexible and adapt ourselves to client needs, we can do accounting using our own accounting software and we can also work on accounting software provided by the client. Accounting services can either be provided at the client place or it can be provided in-house at our office. We also help our clients in choosing the right accounting software as per their business needs. Our accounting outsourcing solutions are cost effective because of our efficiency, accuracy, accounting know-how, and our ability to interpret your financial data.
Physical verification of inventories is an important part of the company’s internal controls over assets. It is intended to verify the accuracy of inventory records, and to assign the proper carrying value to that inventory, so that those assets are properly reflected in the financial records of the Company. Control over inventories is important for all organizations, since inaccuracies in inventory records can cause erroneous management decisions.
Inventory verification serves as a deterrent to loss, theft, damage, and misuse so those responsible for assets perceive that they will be held accountable for such assets, and will be required to produce proof of existence of those assets on a periodic basis.
We help firms improve their productivity and profitability through better inventory management. Inventory verification includes amongst other things appropriate marking of physically verified stocks, identification of damaged and slow moving or obsolete items, deriving variances between physical count and book count and identifying the reasons, and prepare physical verification report and detailed observations and recommendations.
It is well known fact that paying the employees in an accurate manner and maintaining the compliances with the concerned legal Departments is a challenging task. Payroll processing involves tedious routine work. Outsourcing this process allows you to focus on growing your business, save cost, focus on core tasks and enable growth without manpower and infrastructure restrictions.
Realizing this requirement, and also to promote confidentiality and administrative convenience, we provide a wide-range of Payroll Firms services to our clients. Our services broadly include: