Services
What we do
Our professional approach is to work closely with our clients from junior staff
up to the partnership/top management level, enabling us to understand their business operation & needs, so that we can provide them with distinguished professional services and advise to guide helping them to develop business and improve performance.
We further provide our clients with the necessary recommendations to improve performance and develop the current accounting policies and procedures, taking into consideration the nature of each business and management needs and requirements, while informing them with up-to-date regulations related to tax, social insurance and zakat legislations … etc.
Accounting and Book-keeping
This service is aimed at providing our clients and firms who wish not to bear the cost of a full time accountant with the benefit of a fully fledged accounting department of a large firm.
Hence, we do not only provide our clients with integrated accounting service conducted in accordance with International Accounting Standards & Yemeni laws but also without the burden of incurring substantial costs.
Accordingly, our service in this regard, but not limited to, includes the following:
- Accounting and book-keeping.
- Accounting systems design and implementation.
- Classification of payment and receipt vouchers.
- Journal voucher entry and posting.
- Monthly payroll, calculation of tax and social insurance due.
- Bank reconciliations statement.
- Trial balance - monthly/periodically, concisely and detailed.
- Costing and financial analysis.
- Final processing of financial statements.
Auditing
Auditing practice is aimed at providing clients with financial statements in conformity with International Accounting Standards and the applied laws.
The audit includes various tests and procedures that are required by the Yemeni laws and International Standards of Auditing.
A typical audit engagement includes:
- Reviewing Internal Control System and accounting procedures relevant to the audit works with the aim of understanding it, but not with the aim of expressing an opinion on its efficiency.
- Planning and performing audit works in order to obtain sufficient and appropriate audit evidence to serve as a basis for expressing our opinion, as well as obtaining reasonable assurance about whether the financial statements are free of material misstatement.
- Assessing accounting principles and accounting policies adopted, and reasonableness of significant estimates and related disclosures made by management.
- Evaluating the overall financial statements presentation.
- Expressing an opinion on the financial statements based on our audit.
- Letter to management, where necessary, to draw their attention to:
- Weakness in Internal Control which may come to our notice and should be brought to their attention.
- Suggestions for improvement of the operating efficiency and accounting procedures.
Among services that our firm provides in the field of audit, are the following:
- Regulatory compliance Verification and reporting.
- Special Audit.
- Independent controls and systems operations.
- Confirmations/affirmations.
- Limited audit.
- Unannounced inspection.
- Partial evaluation.
Since confidence, objectivity and transparency, are special part of auditing standards, then here comes the importance of changing and variation of ways approaching firms management, board of directors of private, public and joint-venture companies, as well as foreign companies branches and other firms or establishments.
Internal audit services (Technical, Operational and Financial Audit)
In this regard, our firm provides everything business organisations need to establish and implement internal controls to protect their assets, including controls that protect data and information technology systems, so as to ensure compliance with operating procedures, and reduce risk of financial errors or fraud.
Internal Audit
Our office provides internal audit services for specific purposes that are digitally supported to benefit from automation, analytics, and dynamic and accurate risk assessment that aligns with activity and business strategies in order to help our clients anticipate risks and put the right processes and controls in place today to meet the challenges of the future.
To enable management to improve performance, our internal audit specialists evaluate the establishment’s policies, procedures and controls to ensure that they address:
- Achieving goals.
- Risk management.
- Optimal and effective use of resources.
- Compliance to laws and its bi-laws.
- Protecting assets from fraud, irregularities or corruption.
- Integrity and reliability of information.
In addition to providing full internal audit services, outsourcing assistance and quality assessment services, our team can evaluate the effectiveness of current internal control task to help improve and develop its performance.
Taxes and Zakat
Our services in this field aim to provide our clients with tax and zakat consultations, tax and zakat review assistance, such are performed in accordance with Yemeni Zakat and Tax Laws applied.
Most decisions taken, may increase burdens that have effects on tax and zakat resulted of what an entity is undertaking, as well as its consequent taxes and Zakat in near and far future, also as a result of changing laws and bi-laws that rapidly compliant to it.
In this regard, we aim through our firm experts and those collaborating with, to enable our clients achieving the maximum possible efficiency in short and long terms.
Among our tax and zakat services, we provide the following:
- Tax declarations, in regard to preparation of:
- Annual income tax declaration.
- Monthly tax declarations such as:
- Payroll tax declaration.
- Sales tax declaration.
and calculation of taxes due according to tax laws.
- Zakat declarations of those imposed to Zakat.
calculation of annual zakat amount due by zakat payers according to their financial statements and in accordance with zakat law.
- Our tax and zakat services include also:
representing our clients and defending them before Tax Authority in regard to taxes imposed and/or assessed on their activities, also zakat imposed and/or assessed on them.
We attend discussion sessions before reconciliation and/or appeal committees of tax and/or zakat, and carrying out all necessary actions to realize a legal satisfying decision and a reasonable assessment. Such task is completed by obtaining final clearance of their tax and zakat position.
Our monitoring and evaluation services include:
- Third-party monitoring and evaluation.
- Rapid Assessment.
- Impact assessment.
- Market Research.
- Verification and survey of baseline and finish line data.
- Assessment of capabilities.
- Capacity-building and training.
We have expertise in monitoring and evaluation standards, and we have experience in developing, implementing and integrating research and survey data on a large scale.
We can also, through our extensive experience, act as an independent monitoring agent for any national and international organization in Yemen and outside Yemen.
Monitoring & Evaluation:
Our firm, through the executive team and those participating in its operations, owns the capacity of carrying out a professional monitoring and evaluation services, that are competent to achieve aimed results, such are made by our capabilities, sources and modern techniques owned by us.
Our wide existence in the local market and our exceptional qualities, including the ability of approaching all governorates and districts in the country. The projects we monitor, verify in its objectives and ways, it covers various economical and social sectors.
Monitoring and evaluation division in our firm is established with experience, tools and standards of such monitoring and evaluation.
To support monitoring and evaluation services, we are furnished with the following:
- Central database system.
- Statistical analysis programs as a data analysis tool.
- Internet data processing and reporting facilities.
- Database system using Oracle application.
Financial Analysis and Evaluation
In this regard, our firm assesses the viability, stability, and profitability of a business, subsidiary business, or any other enterprise.
This financial analysis is conducted by specialists who prepare reports by using ratios of data taken from financial statements and other reports. Such are usually presented to senior management as one of the basis leaned on by this management in regard to work-related decision-making.
As examples to this:
- Continue or cease main processing operation of business or part thereof.
- Produce or buy certain materials for product manufacturing.
- Purchase or rent certain machines and equipment to produce goods.
- Issuing new shares or negotiating with a bank for a loan to increase working and/or operating capital or both.
- Taking decisions in regard of capital investing or lending.
- Any other decisions that allow management to select an enlightened choice among many alternatives of performing its business.
Among services provided in this regard, are as follows:
- Financial analysis.
- Evaluation of long-term investments.
- Reassessment of:
- Existing installations.
- Projects under implementation.
Verification and Studies
Through our expertise and background, our firm conducts numerous in-depth fraud investigations for a wide range of clients, through which we have been able to detect and report fraud.
Such investigation include:
- Suspected irregularities and fraud.
- Community conflicts that are on resources or accidents.
- Normal and abnormal results.
In the field of studies we provide the following professional services:
- Feasibility studies.
- Marketing studies and research.
Legal Services
Our firm provides integrated legal services to residents, non-residents, and multinational entities and individuals. Our team provide advises on relevant recent laws and regulations.
Our legal services include:
- Private ownership and venture capital.
- Formation and restructuring of companies.
- Drafting of contracts.
- Preparing incorporation contracts and companies' articles of association.
- Establishment of companies.
- Liquidation of companies.
- Judicial custody.
- Providing commercial courts and other judicial bodies at various levels, as well as arbitration centres and arbitration committees with expertise advice and opinion.
Professional Consultations
Our firm provides multiple services in the field of professional consulting, designing and preparing systems and supervising their application.
Our consulting services include:
- Financial consultations.
- Tax consultations.
- Preparation and supervision of financial and administrative systems.
- Participating in IT accounting systems design for providing accounts management and its departments.
- Preparing systems and cost analysis.
- Selecting individual personnel and qualifying them.
Business Consultations
In this aspect, our firm provides multiple services based on insights and results capable of making radical long-term solutions, far from conflicts of interest, with full compliance to quality standards.
Our business consulting services include:
- Implementation of studies surveys.
- Improve business operations.
- Assessing financial and administrative capacities.
- Development and implementation of performance management measures.
- Capacity-building.
- Human resources administration.
Business Risks
Each organization faces strategic, financial, operational, and technological challenges, so we provide business risk services by giving the necessary advice to help manage risks and improve performance.
Our team of experts can provide substantive and value-added solutions that enable clients to strengthen internal controls, governance processes, implement sound organizational strategies, increase technological capabilities, and improve the operational efficiency.
Our business risk services also include organizational evaluation and projects evaluation.
Information Technology Consultations
Technical infrastructure is an important element in successfully managing business, our IT professionals work with clients to identify technological needs and build reliable strategies to address them.
Our specialized solutions range from basic data processing to sophisticated
e-commerce options, design and development of systems structure, as well as effective independent verification.
In addition, our information technology services include:
- Planning.
- Prediction and expectation.
- Develop and establish new control systems.
- Book-keeping and accounting systems.
- Protection against fraud and error.
Other Professional Services
In addition, we provide further professional services related to:
- Monthly Social Insurance Declarations due.
- Social Insurance Card for clients and their employees.
- Labour bylaw and regulations to be applied by our clients' firms, and related approval of the same by Labour Office.
- Obtaining work permit(s) of foreign firms branches and approval of related government departments in regard of registration for the first time or renewals.