Accounting Review
Service Overview
Accounting Review is the process of ensuring that a company’s books of account are complete, accurate, and audit-ready. This is a one-time specialized service typically provided after the financial year-end but before commencement of the statutory audit, designed to identify and resolve issues that could delay or complicate the audit process.
Service Scope
Organizations may encounter challenges in completing financial audits due to changes in accounting personnel during the year, inexperienced accounting staff, or complex transactions requiring professional expertise. In such circumstances, MBK Accounting & Tax Consultancy LLC reviews the books of account, suggests necessary adjustment entries, reviews and guides in the preparation of various schedules and statements as required by auditors during audit procedures.
The firm ensures that the statutory audit process becomes smooth and efficient.
What we offer
The service covers review of:
We offer a comprehensive range of auditing and accounting services, including:
Comprehensive review of all bank reconciliation statements, ensuring all reconciling items are properly supported and explained.
Examination of all year-end provisions and other closing adjustments required for accurate financial reporting.
Verification that all revenue and expense invoices are recorded properly.
Reconciliation of all intercompany balances, customer receivables,vendor payables and other balance sheet accounts to ensure accuracy.
Detailed reconciliation of all VAT returns filed during the year with the books of account.
Review of physical stock verification conducted at year-end, reconciliation , verification and proper treatment of stock.
Value Proposition
Selecting MBK Auditing means working with a firm that understands the complexities of UAE financial regulations and provides solutions to maintain business compliance and financial stability. The commitment to accuracy, efficiency, and transparency supports businesses in their financial management.
Benefits to Clients
- Accelerated Audit Procedures : Significantly reduce the time required for year-end audit procedures through effective pre-audit preparation and timely issue resolution.
- Facilitates Tax Computation : Ensure books of account are properly prepared to support accurate corporate tax computation and full compliance.
- Accurate Financial Reporting : Ensure financial statements accurately reflect the organization’s financial position and overall performance.
- Independent Professional Review : Provide a high-level independent review of the accountant’s work by qualified and experienced professionals.
Affiliations and Certifications
- MBK Accounting & Tax Consultancy LLC is certified Zoho Advisor.
- Our Managing Director, Mr. Nandan Bendarkar is a certified Zoho trainer.
- MBK also works with other software providers like Tally, Payment and Petty Cash solutions providers to provide seamless accounting solutions.
- MBK Accounting & Tax Consultancy LLC is a member of GMNI , an association of legally independent accounting firms worldwide.
Frequently Asked Questions
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