AUDIT & ASSURANCE
Auditing services at MFS Cloud Accounting Solution is equipped to suit each client’s business model. With over two and half decades of intense experience and knowledge, we have developed a keen understanding of many sectors and industries. We leverage this experience and knowledge to develop credible approaches for all our clients. All this, combined with the knowledge of each business model we ensure our audit and assurance services are first- rate.
Our audit and assurance services covers:
- Statutory Audit
- Internal Audit
- Due Diligence
- Revenue and Inspection Audit
- Stock Audit
- Physical Verifications
- Limited Review
Each aspect of the business will be taken into consideration in our assessment of risks and areas of importance. Going beyond the statutory audit service, we provide suitable insights towards higher performing financial and operational plans.
Our audit specialists can provide an efficient and independent report to your shareholders about the company’s profitability and state of affairs. A good audit should also provide insight into areas to focus on for enhancing the performance of your business. We provide a comprehensive range of dedicated corporate finance services. We are a relatively small integrated team providing you with director level advice and support. Working closely with other relevant teams including corporate tax, accountancy, private client and business advisory specialists, we ensure that at all times the advice we give encompasses all your needs.
Our audit and assurance services include:
- Information systems audit and risk management
- Internal audit & review engagements
- Internal control system study and evaluation
- Mergers & acquisitions
- Business restructuring
- Business valuations
- Forensic and other investigations
If you are a VAT registered business, you must keep records of all the supplies you make and receive, and a summary of VAT charged and paid/payable for each tax period covered by your tax returns.
MFS Cloud Accounting Solution Chartered Accountants offers complete accounting solution for your VAT requirements.
We have formed special VAT Desk, who will be serving clients for any service related to VAT. Our TAX experts provide support to the client right from the beginning.
Special VAT desk available for Construction, Manufacturing, services, Trading & Retail, Logistics and Hospitality sectors.
We can assist with all aspects of VAT, including reviews and planning and updates on any changes that may affect your particular sector.
We can also advise on the best way to treat new areas of trade as your business expands, as it’s important to plan mitigation of VAT liabilities in advance.
HOW CAN MFS Cloud Accounting Solution CHARTERED ACCOUNTANTS HELP YOU IN VAT?
Understand Your business and VAT implementation
Our TAX/VAT experts shall visit your office to understand the business model and maintenance of accounts for designing a VAT Implement plan which suits for the UAE VAT Regulations for your type of business activities.
To comply with the UAE VAT Law, we shall advise you regarding the procedural formalities, quantum of turnover which attracts VAT, and the date by which registration has to be made, considering whether the company got any exemption in this respect or not. We shall also advise you regarding the compulsory and voluntary VAT registrations and importance of maintaining proper day to day accounts.
We offer support for preparing and filing of the VAT return by taking the correct input tax credit against the total VAT liability with guidance on planning/better timing of cash flows and within the period allowed for submission of returns as per law.
Accounting systems under VAT
We review the current accounting systems followed in the company. Proper classification and grouping with appropriate chart of accounts suitable for VAT regime will be suggested.
Invoicing under VAT
The requirements of VAT invoicing under the UAE VAT Law will be implemented. Proper guidance will be given to the IT persons and proper training to the Accounts and other departments connected to sales. We shall advise you regarding formatting the invoices as per VAT guidelines.
In order to incorporate the changes in the billing, accounting and other administrative procedures to comply UAE VAT formalities, necessary guidance or information required will be communicated. Our IT department can assist you regarding migration of present accounts package to any other type or advanced levels of the same package.
Accounting & Bookkeeping
Our comprehensive range of accounting services will help you to comply with all the relevant reporting regulations. As well as full statutory year-end financial statements, we can provide monthly or quarterly management accounts and assistance with the preparation of budgets and projections.
We ensure that the financial statements are complying with International Financial Reporting Standards (IFRSs) and are committed to keep the highest level of professional standards and quality.
- Financial accounting system design & implementation
- Setting up of accounting procedures
- Accounts updation on periodical basis
- Supervision and review of financial accounting records
- Financial reporting
Some of the accounting services we provide are:
- We provide accounting and book keeping services on regular basis. Our trained staff can work from the client’s office, on-site or complete the work in our office premises as per the client’s convenience.
- We use popular generic software and perform client work using them or using the client’s own software.
- A customized reporting system is created to meet with each client’s specific requirement.
- The responsibility of clearing pending and back log work is also undertaken by us.
Start Your Business in Dubai, UAE
Dubai Company Formation with world class customer service. Our experienced team of Company Formation ensure prompt and efficient service.
The UAE offers three different types of business structures for companies to conduct business.
On-Shore companies are normally used to trade within the local UAE market as well as globally. There are several types of On-Shore companies which can be incorporated. On-Shore companies need a UAE National to act as local sponsor or local service agent depending on the company type.
Off-Shore companies may be 100% owned by expatriates. Often used as asset, international trade, property or holding companies for other businesses inside or outside the UAE. This structure is suitable for international business. Business cannot be contracted in UAE but outside UAE.
We provide liquidation services for all entities – limited liability companies, free zone companies and offshore companies across Dubai, Sharjah, Ajman, Abu Dhabi, Fujairah, and Ras Al Khaimah. We also assist in the preparation of Board resolution, power of attorney, audit report, liquidator’s statement etc., which are mandatory documents required for liquidation
Liquidation services include:
- Appointment as liquidator
- Administer the liquidation process
- Supervise asset disposals
- Direct payments to creditors
- Liaise with liquidation accountants
- Process third party liquidation costs
- File de-registrations and other formal notifications
- Administer the complete documentation
- Supervise the on-going and liquidation specific accounting requirements
Your Partner in Business : MFS Cloud Accounting Solution Chartered Accountants
Our Business is to Improve Yours. We continually exceed the business’ objectives through the ability to establish and develop an excellent rapport with clients.During your ups and downs, we are here to help you and guide you every step of the way. We help you by giving valuable advice to implement in efficient way and assist in making sure that your plan is carried out in the most cost effective manner. Our business is to improve your’s or use the word our business is to improve your business.
OUR AREA OF EXPERTISE INCLUDES BUT NOT LIMITED TO:
- Locating Unwarranted Cost Centers for Cost Savings
- Cash Flows and Budgets with Variance Analysis
- Computer Applications and Software Selections
- Investment/Expansion Planning
- Management Support Services
- Mergers and Acquisitions
- Risk Management Services
- Business Valuations
What are Free Trade Zones?
MFS Cloud Accounting Solution, the leading auditng firm in Dubai, UAE cater all your licencing needs
Free trade zones are the areas in United Arab Emirates that have a special tax, customs and imports regime. These zones work under their own regulations. There are 45 free zones across the Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al Khaimah, and Umm al Quwain.
Establishing a business entity in one of the UAE’s Free Trade Zones (FTZs) can be an extremely attractive option for foreign investors. The major attributes of a free zone are:
- 100% foreign ownership ( no local Sponsor required)
- 100% repatriation of capital and profits
- 100% free transfer of funds
- 100% exemption from import and export duties
- Free zone company formation is quicker than incorporation outside in the city
- Inexpensive workforce and easy recruitment procedures
- 25 years lease options, warehouse facilities, availability of areas for production etc.
REQUEST CALL BACK.
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