Accounting Review
Ensure accuracy and compliance in financial records. We offer comprehensive reviews and expert recommendations for better financial control
Ensuring Financial Accuracy and Compliance
In today’s fast-paced business environment, maintaining accurate and up-to-date financial records is critical to the success and sustainability of any business. An Accounting Review is a thorough examination of a company’s financial statements to ensure they meet regulatory requirements and reflect an accurate picture of the company’s financial health. It serves as a safeguard, ensuring that errors, discrepancies, and potential issues are identified and resolved.
At Stratify Consulting, we offer comprehensive Accounting Review services designed to help businesses in the UAE maintain financial transparency, optimize their accounting processes, and ensure regulatory compliance
What is an Accounting Review?
Our Accounting Review services include an in-depth examination of
- Financial statements (income statement, balance sheet, cash flow)
- Accounting policies and procedures
- Internal controls over financial reporting
- Tax compliance
- Reconciliation of key accounts
Our Accounting Review Process
At Stratify Consulting, we follow a systematic and detailed approach to conducting accounting reviews
Initial Consultation
We begin by understanding your business, its accounting practices, and your specific financial reporting needs. This helps us tailor our review process to your unique situation
Document Review
We thoroughly review key financial documents, including your company’s financial statements, tax returns, bank reconciliations, general ledgers, and accounting policies
Transaction Analysis
We analyze a sample of transactions for accuracy, completeness, and consistency with accounting standards. This ensures that all transactions are properly recorded and classified
Reconciliation of Accounts
Key accounts, such as bank accounts, receivables, and payables, are reconciled to verify that balances are accurate and consistent with supporting documentation.
Internal Controls Evaluation:
We assess the effectiveness of your internal controls over financial reporting, identifying any weaknesses that could lead to errors or fraud.
Report and Recommendations
After completing the review, we provide a detailed report outlining our findings and recommendations for improving your accounting practices and addressing any identified issues
Key Benefits of Our Accounting Review Services
Expertise in UAE Regulations
Our team of Chartered Accountants and financial professionals has extensive experience with UAE-specific accounting and tax regulations, ensuring compliance with local laws
Tailored Approach
We offer customized solutions based on your business size, industry, and financial reporting needs. Whether you're a small business or a large corporation, we can tailor our services to fit your requirements
Proactive Problem Solving
We don’t just identify issues — we work with you to develop practical solutions that enhance your financial accuracy and operational efficiency
Confidential and Secure
We understand the sensitivity of financial data and ensure that all information is handled with the utmost confidentiality and security.
Why Your Business Needs an Accounting Review
Enhanced Financial Accuracy
A periodic review ensures that your financial records are free of errors and misstatements, giving you a clear picture of your financial health
Regulatory Compliance
The UAE has strict financial reporting and tax compliance regulations. An accounting review ensures that your financial statements comply with all applicable laws, including VAT and corporate tax regulations
Early Detection of Issues
An accounting review can help identify financial discrepancies, inefficiencies, or areas of concern early, allowing you to address them before they become larger problems
Improved Decision-Making
Accurate and reliable financial data is essential for making informed business decisions. A review ensures that your management has the right information to guide the company’s strategy
Cost-Effective Assurance
An accounting review provides a lower-cost alternative to a full audit, offering a reasonable level of assurance about the accuracy of your financial records without the more extensive procedures involved in an audit
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Our Other Audit Services
Our Services
Stratify Corporate services is an independent and international organisation with a specialization in crafting sustainable solutions and strategies
Value Added Tax
Ensure full compliance with UAE’s Value Added Tax regulations through tailored advisory, registration, filing, and VAT health check services.
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Corporate Tax
Navigate UAE’s corporate tax landscape with strategic tax planning, filing, and compliance support to optimize your tax position.
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Excise Tax
We assist businesses in understanding and complying with excise tax regulations, including registration, filing, and audit preparation.
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Accounting Outsourcing
Streamline your financial operations by outsourcing your accounting needs, from bookkeeping to financial reporting, for efficient management.
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Customs
Simplify import-export procedures and ensure compliance with UAE Customs regulations through advisory, registration, and customs reconciliation services.
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Company Formation
Start your business in the UAE with expert guidance on company incorporation, licensing, and compliance with local regulations.
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Audit & Assurance
Our audit and assurance services provide reliable financial insights, ensuring transparency and compliance with regulatory requirements.
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Economic Substance
Anti-Money Laundering
Protect your business by staying compliant with UAE’s AML regulations, with risk assessments, monitoring, and reporting solutions.
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Frequently Asked Questions
What is the difference between an accounting review and an audit?
An accounting review provides a moderate level of assurance about the accuracy of financial statements, while an audit offers a higher level of assurance through more extensive testing and verification. A review is less detailed and more cost-effective than a full audit.
Who needs an accounting review?
Any business looking to maintain accurate financial records, ensure compliance, or prepare for future audits can benefit from an accounting review. It’s particularly useful for small and medium-sized businesses that may not require a full audit but still want to ensure financial accuracy.
How often should an accounting review be done?
While this depends on the size and nature of your business, many companies opt for an annual or quarterly review to stay on top of their financial health and ensure ongoing compliance
What documents are required for an accounting review?
Key documents typically include financial statements, general ledgers, bank statements, tax returns, and other relevant financial records. Our team will guide you through the documentation requirements based on your specific needs.
What happens if discrepancies are found during the review?
If discrepancies are identified, we will provide recommendations on how to resolve them. This may involve making adjustments to your financial records or strengthening internal controls to prevent future issues
Can an accounting review help with tax compliance?
Yes, an accounting review includes an examination of your tax filings to ensure compliance with UAE tax laws, including VAT and corporate tax. We can identify potential issues and help you stay compliant with tax regulations
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Get Expert Accounting Review Services Today
At Stratify Consulting, we are committed to helping businesses in the UAE maintain accurate, compliant, and reliable financial records. Whether you need a one-time review or ongoing support, our experienced team is here to assist you every step of the way. Contact us today to learn more about our Accounting Review services and how we can help your business thrive
