Accounting and Auditing

accounting

We at GRG Corporate Services believe that start ups and SME’s  need to outsource the  work  that takes away a lot of their precious time which  they  can focus and use for  their primary business which will generate revenue.  It will also reduce your overhead expenses incase if you are planning to hire an employee to take care of these activities. We can provide you with qualified , experienced bookkeepers,  accounting and auditing professionals.

 

For starters, book-keeping helps businesses plan ahead. It ‘forces’ them to take a good look at their budget, allowing them to plan for purchases and other miscellaneous costs which makes it easier to forecast business needs ahead of time. It also assists with meeting deadlines for payments such as rent, salaries, bills and loans.From a day-to-day perspective, maintaining a proper record of transactions is essential for effective cash flow management, without which no business can stand the test of time. It is also an essential tool to help gauge performance, letting a small business know how it is fairing and whether it is growing, declining or stagnant.

Periodic recording of all business transactions: revenue, expenses, assets and liabilities will ensure you get an understanding of the financial health of the business. We can provide you with monthly or quarterly financial reports, namely profit and loss statement and balance sheet.

 

An audit is a periodic examination of the books of account and records of an entity carried out by an independent third party (the auditor), to ensure that they have been properly maintained, are accurate and comply with established concepts, principles, accounting standards, legal requirements and give a true and fair view of the financial state of the entity.

 

External audit covers all external audit activities, to ensure that the entity complies with the appropriate finance requirements, accounting standards, and other legislation governing the financial records of the entity. In United Arab Emirates for most of the  onshore Free Zone companies  it is mandatory to submit external audit report.

 

An internal audit is the examination, monitoring and analysis of activities related to a company’s operations, such as revenue, purchase, payroll functions etc. Internal audits are important as they will help companies to assesses the effectiveness of a company’s internal control systems and helps uncover weakness in systems, misuse ,fraud etc.

 

GRG Corporate Services Provider have associates whom we work with and also have an  in house team who will be available for easy communication. For a quote please call us or submit your enquiry.