Accounting and bookkeeping are essential parts of an organization. It is not just about recording and keeping track of financial transactions. Accounting departments are also responsible for checking for any fraudulent activities, maintaining records as per regulatory requirements, filing financial reports, and performing many other important tasks. That’s the reason each small or medium-size business requires professional accounting supervision services in UAE. Our team can proficiently provide you with the best accounting solutions as well as consultancy on the company’s financial matters.
Accounting supervision refers to the process of assuring company financial and accounting operations compliance and accuracy. Essentially, it is an extensive accounting review of records to identify areas where a company’s growth is hindered. The supervisor can be internal or external and oversees all accounting events on an advanced stage.
A small business has a few financial statements to worry about, but large multinational companies do thousands of transactions every day. A business always needs expert accounting supervision to proactively manage its books of account. However, this is mandatory for business owners to suspect fraud, error, or inadequacy in their financial reporting. Some planned fraudulent activities are difficult to handle for ordinary accountants. At that time it is extremely beneficial to hire third-party accountants who analyze your accounts unbiasedly. This is a proactive approach of business people to prevent accounts from big losses and even bankruptcy in the future.
Accounting supervision/check-up plays a vital role in business growth. In accordance with FTA regulations, each registered business must retain its accounting records for a minimum of five years.
Any failure or non-compliance in books of account will attract heavy penalties and fines. The management of financial and accounting records assists entities while taking decisions and planning strategies. Accounting supervision is important to stop any fraud from taking place within the organization.
The main purpose of outsourcing accounting oversight services is to get an expert opinion of financial insufficiencies. Since the third-party service has no personal stake in the company and doesn’t know any employees personally, a chance of bias is nonexistent. Our chartered accountants in UAE, have a blend of knowledge and experience in all the major industries. Therefore, they can assist you in the best manner and will review your financial position periodically.
While supervising the accounting record of a business the accountant should focus on these areas for better outcomes such as:
In accounting supervision, all accounting services are consolidated on a higher level. Using this, organizations can find out inaccuracies in their books of accounts before they are audited. It will affirm tax settlements and avoid financial disasters. This oversight performs a significant role in management decision-making and crafting future strategies. Effective accounting supervision builds confidence in front of stakeholders and state government.
In the United Arab Emirates, there are many benefits for the business person of doing accounting supervision.
The accountants examine your financial records, reporting requirements, and return filling submission. In accounting supervision, we will assure VAT, Corporate tax, and excise tax compliance as per UAE tax laws. This helps taxable persons escape from the hefty amount of fines and penalties from the federal authorities.
The accounting supervisors inspect all your accounting and financial records to detect any type of illegal activity in the organization. They are well equipped to reveal payroll fraud, Intellectual property theft, Invoice/ tax frauds, Corruption, money frauds, Asset Misappropriation, Insurance & Banking frauds, etc. Taking advantage of outsourcing accounting services in the UAE will save money in the long run.
This health check-up of accounting records saves a lot of funds by uncovering the places where waste is being done. Every resource’s in and out status and payment is verified by the supervisors to ensure that this is being done correctly. They analyze the current state of the company and advise cutting costs further in the future. It helps to invite customers from all over the world.
Account supervisors provide statistical information to the management so they can make informed decisions. Through this data, the management can plan future strategies and policies to grow the business.
Bestax Chartered Accountants is a team of experts who are well qualified and certified by the world’s top accounting institutes. Their expertise spans cover all areas of accounting and financial management. Our certified accountants provide professional accounting supervision services in Dubai, Sharjah, Abu Dhabi, Ajman, and other parts of the UAE. We oversee your financial as well as management operations and fiscal procedures, ensuring that they are executed correctly. A member of our team will visit your office and may also assist you remotely to achieve the objectives of your organization. Our accountants take great pride in working on complex accounting projects for our clients and are never late with their work.
As a part of our accounting supervision services, we offer many other accounting and bookkeeping services in all the Emirates of UAE. We provide comprehensive expertise in the following areas:
Communicate with our chartered accountants & let us know how we can help you!
However, I was the head of the finance department yet still found it difficult to conduct a financial audit in accordance with UAE regulations. Although, due to the competence and experience of BextaxCA's qualified auditors, all my concerns have been resolved
ylie Johnson
Accounts Manager, Abu Dhabi, General Trading Company
I utilized BestaxCA's accounting and bookkeeping services for my retail business in Abu Dhabi. It was fascinating to observe how they handled the finances. They provided me with out-of-the-box accounting solutions, which were really useful
Abdul Kaleem
Finance Manager, Dubai, Manufacturing Company
As per FTA requirements, the Bestax Chartered Accountants in UAE assisted me with VAT registration and filing. I personally consult with their tax experts to ensure they have the expertise necessary to provide timely answers
Abdul Kaleem
Finance Manager, Dubai, Manufacturing Company
I was so happy with the BextaxCA's services that I decided to use them for my personal tax planning and return filing. They really know their stuff when it comes to taxes!
Dwayne Perkins
Accounts Manager, Dubai, Services Provider
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Bestax Chartered Accountants is a leading financial consultancy and business advisory firm in the heart of Dubai, Business Bay. We strive to deliver a hundred percent on every tax advisory, auditing, accounting & bookkeeping, and other financial services. BestaxCA assists national and international clients by enhancing their efficiency, compliance, growth, and profitability.
We provide a free 30 days trial, No upfront payment! If you are not satisfied with our services, you don’t pay anything
We provide a free 30 days trial, No upfront payment! If you are not satisfied with our services, you don’t pay anything