In UAE, UAE Commercial Company Law of 2015, Federal Decree Law of 2017 on Value Added Tax and Economic Substance regulation Act are some of the laws that require mandatory maintenance of accounting records.  The company stakeholders should be aware of the different ways the money is being used up in the company, only a well managed accounting team can ensure that the complete information is collected, sorted and arranged in a format to deliver the required output to the stakeholder. As per studies, a business without a proper accounting and reporting system has less than 5% chance to survive the high tides of the current competitive world.

At Tax Aid, we can customize  accounting and book-keeping services as per  your individual requirements and ideas. The below mentioned list isn’t a conclusive list, but a synopsis on how we can assist you.

• Preparation of management reports – Income statement, Balance sheet and cash flow statements.
• Maintenance of accurate nominal, sales and purchase ledgers etc.
• Reconciliation of your bank position.
• Preparation of other business reports, like aged debtor and creditor listings.

Internal Audits at TaxAid: We offer interim and full time internal audits. We assess the internal control structures, ensure compliance with laws and regulations, and confirm adherence to operational procedures. Our internal audit professionals take a risk-based approach to internal audit, to help clients improve performance and operational efficiency. We provide an independent professional evaluation, and advise on the quality and effectiveness of the control environment within the organization. We also identify areas for improvement and implement strategies to help you achieve your organizational objectives and make a positive contribution to the successful operation of your business.