ACCOUNTING SUPERVISION
Service Overview
Independent supervision by qualified accounting professionals assists businesses in identifying inaccuracies and inconsistencies in their financial and accounting activities. High-level review by professional accountants complements the expertise of the client’s in-house accounting team, ensuring accuracy and completeness of financial records while maintaining control within the organization.
Service Scope
MBK Accounting & Tax Consultancy LLC Accounting Supervision service ensures that the client’s books of account are complete and fairly accurate through regular oversight and guidance. The service includes ongoing support and direction to the client’s accounting staff, helping them maintain accurate records and comply with applicable accounting standards and regulatory requirements.
The firm reviews the books of account maintained by the client’s staff at regular intervals (typically monthly or quarterly), addresses queries, provides guidance on adherence to accounting principles and compliance requirements.
What we offer
The service covers review of
We offer a comprehensive range of auditing and accounting services, including:
Verification of bank reconciliation statements, calculation and recording of accrued interest income and bank charges.
Review of calculation and recording of monthly closing entries ensuring compliance with International Accounting Standards.
Examination of whether all revenue and expense invoices are recorded properly in accordance with International Accounting Standards.
Regular reconciliation of intercompany balances, customer receivables, and vendor payables at agreed intervals to ensure accuracy.
Reconciliation of VAT returns filed with the Federal Tax Authority with the books of account to ensure consistency and identify any discrepancies.
Review of physical stock verification conducted at agreed intervals, reconciliationand proper accounting treatment of stock variances and obsolete inventory.
Examination of all adjustment entries passed to ensure they are authorized, and correctly recorded in the accounting system.
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
- High-Level Independent Review: Provides professional oversight while retaining accounting control and operations within the client organization.
- Timely Task Completion: Ensures timely completion of accounting tasks and fulfillment of compliancesthrough regular monitoring and guidance.
- Increased Operational Efficiency: Improves efficiency due to timely availability of accurate reports for management decision-making.
- Compliance Efficiencies: Enhances compliance through early detection and correction of errors and non-compliances before they become significant issues.
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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