FINANCIAL STATEMENT AUDIT

Why GCA as your External Auditor?

  • We treat each client as significant and not a small project in a broader portfolio.
  • We engage in productive and constructive discussions on the accounting policies and judgements.
  • Our audit team has extensive experience auditing small and medium-sized enterprises and multi-location operations.
  • We bring on board our expertise in financial report discussions with Board and Audit committee.
  • We discuss sensitive matters honestly and professionally.
  • We ensure strict adherence to timelines.
  • The fee we charge will fairly reflect the nature and complexity of the audit.
We provide an audit opinion in compliance with the IFRS. Understanding your business;
  • Identify business risks
  • Determine audit strategy
  • Set out audit plan
  • Identify and test internal controls
  • Apply substantive audit procedures
  • Evaluate audit results
  • Report findings

We also carry out;

• Review of compliance with UAE federal law and free zone regulations.
• Limited review of interim financial information
• Special purpose financial information (e.g., Contractors Registration, Management
Request, Bank and Regulator Submissions etc.)

INTERNAL AUDIT

We provide the complete range of internal control review services,
including;

  •  Performance improvement reviews
  •  Review of Corporate Governance framework
  •  Policies and Procedures-completeness and adequacy
  •  Risk Control reviews of business processes
  •  Data analytic reviews
  •  Control testing and Penetration testing for existing controls
  •  Audit of third-party service providers and contracts
We express clear and concise opinions on
  • Quality of your process framework and business controls.
  • Your company is being adequately managed.
  • If critical risks in your business are being identified and /or adequately addressed.
  • If your business objectives are likely to be met.
  • We will also investigate frauds we come across as part of such reviews, with a view to understand the background and identify mitigating actions.

TAX SERVICES

VAT registered businesses in the UAE are required to charge VAT on supplying goods or services to their customers. The amount of VAT that a business entity is liable to pay to the government is calculated by deducting the figure of VAT already spent on purchasing goods or services rendered from the amount of VAT levied on sales by the business entity.
Our Tax Services include:

  • VAT registration for new businesses.
  • Assistance in tax submissions and ling returns.
  • VAT advisory services.
  • Aid for processing refund requests.
Introduction of VAT involves business transformation impacting almost all functions of your business VAT.
  • Understanding your business
  • Identify business risks
  • Determine audit strategy
  • Set out audit plan
  • Identify and test internal controls
  • Apply substantive audit procedures
  • Evaluate audit results
  • Report findings

The introduction of VAT involves business transformation,
impacting almost all functions of your business VAT

Legal

Consequence on contracts in terms of allocation of VAT in pricing and contract values.

Finance

Management of tax impacts
across all transactional activity,
cash-flow, reporting, planning,
compliance and audits

Marketing

VAT costs are passed on to
the customer.

Information Technology

The system will need configuration to comply with VAT –this will first
require identification / mapping
of transactional activity.

RISK MANAGEMENT
& ADVISORY

Treat Assess Identify Efficacious strategy, Effective processes & Efficient Operations. GCA will assist you with adopting an appropriate ERM suite commensurate with the size of your Organization through;

  •  Developing a structured approach to understanding and managing risk.
  •  Embedding Risk Culture as a way of business conduct.
  •  Integrating and aggregating silo risk exposures and managing group risk exposure.
  •  Integrating risk management with critical management activities.
  • Assessing the organisational risk framework and culture.
  • Efficient use of capital and other resources through evaluation and selection of best risk responses.
  • Developing risk management performance & reporting.

GCA Value:
Building Competitive advantage over Competition

ACCOUNTING ADVISORY & BOOKKEEPING

We provide the complete range of accounting advisory services, including;

  •  Financial accounting (bookkeeping) and reporting
  • Special bookkeeping and reporting
  • Accounting policy reviews
  • Financial statement preparation and audit readiness assistance
  • Assistance with opening and carving out financial statements
  • Impact analysis of accounting standard revisions & regulatory changes
  • IFRS conversions
  • Business reporting and Management accounts
  • Setting up Roles & Responsibility Matrices
  • Competence Reviews of Finance functions
  • Short term resourcing assistance
What We Offer

Assistance in implementing an appropriate accounting system, with the objective of accurate and timely information to aid management decision making.

Assurance to management and investors that their financial accounting is up-to-date and complies with legal requirements.

More importantly, cost savings through our professional and structured bookkeeping procedures. Our bookkeeping specialists combine our skills and knowledge to provide comprehensive support in all accounting areas.

ETHICS & COMPLIANCE REVIEW

GCA will assist you with

  • Developing and implementing Ethics & Compliance framework.
  • Assist in setting an appropriate tone at the top and embedding ethical culture as a way of business conduct.
  • Assessing the ethical framework, culture & compliance.
  • Assisting in developing, implementing & assessing realistic productivity & performance measurement objectives.
  • Assist in conducting training on Ethical Culture and Compliance.

GCA Value:
Building & Sustaining Ethical Businesses

BUSINESS CONSULTING

GCA can assist you with;

  • Competitive, Strategic, Process Internal & Generic Benchmarking reviews.
  • Process Innovation, Core Process Redesign through Simplifying processes and eliminating non-value-adding services.
  • Our audit team has extensive experience auditing small and medium-sized enterprises and multi-location operations.
  • Assisting in identifying and optimising the management of enablers & inhibitors.
  • Improving performance measures and indicators.
  • Due Diligence & Project Management Reviews.
  • Adaptation of processes to reflect best practices.

GCA Value:
Transforming Business

Quick Links

Abudhabi Office

  • 482 Al Bouky Tower, M1 Global Chartered Accountants, Office M1, Hamdan Street Abu Dhabi, UAE

Dubai Office

First floor, Office No:106,
Business Venue Building
Umm Hurair Road, Oud Metha, Dubai

www.globalca.ae

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