In summary, we offer a well-balanced solution that covers the conception of your business any where in the UAE (where to register, how to establish, etc.) to setting up your accounting system, do doing your accounting and payroll (including WPS), to auditing your accounts.
Even if you so choose to close down your business, we can take care of the liquidation process.
Our audits are carried out in accordance with legal requirements and international auditing standards. However, the way we have trained our staff in the undertaking go much further as it is directed towards your business perspective.
Typically, our auditing services assure the reasonableness of your financial information. However, we also believe in directing the process so to become a valuable foundation for developing business strategies, and that includes a recommendation letter that we provide and discuss with you.
With our audit processes, you get our assurance of accuracy, timeliness and confidentiality. That is part of the comprehensive service from our ethical and experienced team of experts making use of the most current technology. We help keep you on top of your organization, freeing you to concentrate your valuable time on other priorities.
A review can be a cost-effective way to meet the requirements of third parties (such as lenders). By conducting a review, we can provide limited assurance about the client's financial statements by analytic procedures, through inquiries about their accounting policies and procedures, and through an analysis of items that appear unusual and require explanation.
Given the fact that we are a registered firm of Chartered Accountants, both internationally & locally, we also have the qualifications and reputation that enable us to issue audit opinions for both private and public companies. Though one of the nation's oldest and largest independent accounting firms, we still work hard to ensure the continued strength of our auditing services by continually improving our skills, auditing approaches, and tools.
As an internationally recognized and locally registered firm of Chartered Accountants, we issue audit opinions on all types private and public companies. Our audits are carried out in accordance with the region’s legal requirements and latest international auditing standards & accepted at all institutes, Govt. Depts. & Banks.
As part of our strategy of continuous audit quality improvement, service performance and delivery to clients is continuously assessed through the Baker Tilly International Quality Assurance Program.
Consistent with our personalized approach, we concentrate on the key performance indicators, financial internal controls and risks that your business faces. We believe in directing the process to become a valuable foundation for developing business strategies. This includes a recommendation letter that we provide and discuss with you for enhanced corporate governance. This is our formula for an expedient service.
Owners Associations Audit
We have been the pioneer firm auditing Home Owners Association accounts since 2005 in Dubai.
By ensuring transparency of the Home Owners Association Management accounts, we enhance Homeowners trust in the developer and the building management.
We take pride in enhancing social responsibility and maximizing shareholder’s wealth. Please visit http://www.rpdubai.com/rpdubai/home/maps.do?lang=0 for more information.
Structured systems are an integral part of our services provided to our audit clients. We perform an internal controls review and issue a letter of recommendations by identifying the greatest risk areas, where controls are missing or are weak.
We believe strongly in addressing possibilities before they materialize to costly matters. Our role can be used for undertaking Internal Audit for your organization, hence agreed upon procedures can be agreed for our auditors to undertake some roles normally followed by staff members of the Company.
We help find ways to pinpoint fraud risks, investigate cases of alleged work-related fraud and measure the financial implications of disputes.
Over thirty years’ presence in the market gave us strong connections and good local knowledge of the laws and regulations. Our very long experience as Experts at most UAE Federal and Local Emirates Courts has added additional benefits to our firm to be able to present consultancy expertise at most courts in the UAE assisting clients in their courts proceedings by providing consultants experts eeports to the courts through our clients.
Other Assurance Services
A review can be a cost-effective way to meet the requirements of third parties (such as lenders or customers or suppliers). By conducting a review, we can provide limited assurance about the client's financial statements through the use of analytical procedures, inquiries regarding their accounting policies and procedures, and an analysis of items that appear unusual.
At Baker Tilly MKM, your annual accounts will be prepared efficiently and economically, whether you have a small or medium sized company, and even if you do not want to incur the expenses of employing any full-time staff to undertake many of the Bookkeeping or accounting functions.
We can either help you implement your own electronic bookkeeping by helping you choose, set up, and maintain suitable software, or we can perform your book keeping ourselves.
We extend our services to include:
International Financial Reporting Standards (IFRS) are the most widely accepted accounting model in the world. They provide a consistent worldwide reporting method. By complying, you will create comparable, reliable, and transparent financial statements that will facilitate greater cross-border capital raising and trade.
We have been working in the UAE for many years making sure that our clients follow IFRS. However if your company does not yet follow IFRS, without question, the time has come for it.
We can manage the complete conversion process for our non-audit clients, which will ensure that you have the resources you, need for the period that you need it.
Payroll & WPS
We provide a comprehensive, efficient and cost-effective payroll service for businesses of all sizes.
Whether you employ one employee or hundreds, let us handle your payroll headache for you as per the newly introduced Wage Protection System (WPS) by Ministry of Labour in UAE.
The WPS is a compulsory means of payments of wages & salaries to all employees inside the UAE is a system of paying the wages & salaries through involvement of the Organisation, its bankers, the Ministry of Labour & the Central Bank of the UAE, introduced by the Ministry of Labour in 2009/2010 now applies to all companies working inside the UAE. The WPS does not yet cover the Free Zones of the UAE. We have already had experience with many of our clients in assisting them in its application and have presented advice on how to apply the system & even have participated with many clients in administering & running its application.
We have considerable forensic accounting experience, have acted as experts, and can provide investigative and valuation reports for a wide range of forensic or legal purposes.
We have worked as consultant experts in many instances enabling clients submitting their cases to the Courts in a most efficient & speedy manner. This is due to our previous comprehensive experience in working as experts at all the degrees and types of courts in the UAE (Civil, Criminal & Commercial) at all stages from Primary to Appeal to the Supreme Court (in Abu Dhabi) or Cassation Court (in Dubai).
Even though taxation in UAE is virtually non-existent except in certain fields, our firm has presented Taxation Consultancy for many clients in conjunction with other members of Baker Tilly International and other Big Four firms all over the world in advising clients for other countries’ taxes. This is in particular in the application of Double Taxation Avoidance Treaties the UAE has with over 42 countries in the world.
We provide management accounts to provide your business with the necessary regular management & financial information it needs to be a success.
We can review these accounts with you, and make suggestions for improving your business efficiency and profitability.
We have the needed extensive experience to assist in the preparation or review of all the financial information and accounts that you may need.
Examples of our services in this field:
The cash flow projection shows how cash is expected to flow in and out of your business. It will also give you a much better idea of how much capital investment your business idea needs to run the business for the period of projection.
The profit projection determines how profitable the business venture will be.
As part of our business package, we can provide you with cash flow and profit projections to enable you to get the most from your business, and to ensure smooth financial operation. We provide financial information and forecasts which help you plan the future of your business.
We have helped our clients project their cash flow not only after they start working on their projects, but in planning their cash flow requirements, and in projection of their tenders (such as contractors tendering for projects) making the tender more solid and practical.
Proper consultancy in finance is not complete unless we are able to draft the necessary agreements reflecting all arrangements between clients and their partners, customers, or suppliers. Contractual obligations of our clients must be thoroughly protected from the outset.
In this field, our experience has been outstanding. The services presented by our financial & legal consultancy section in this field over the last 33 years have been greatly appreciated by our clients.
We have been appointed by companies themselves or by the Courts as liquidators which Process is done in accordance with the law such as the UAE Federal Commercial Companies Law which applies for most liquidations inside UAE .
Few examples of liquidation are ETARAT (which had over 32,000 shareholders), Four Catering Services, and Al Shiraa Marine Investments Company to cite some of the very noticeable companies. We have also done liquidation for many other smaller companies both inside UAE and at the Free Zones.
Most Free Zones have their own specific rules and regulations for liquidation of their companies.
A great example of a recent liquidation law is the Dubai International Financial Centre (DIFC), which has its own complete modern set of laws and all relevant regulations and courts entirely.
Our firm in the name of our Group Managing Partner is a registered liquidator at the DIFC in addition to all other relevant government departments where registration is essential.
In today's highly competitive, rapidly changing business environment, you are probably looking for better ways to run your business. Few of us can afford to simply react to market conditions. We must take a proactive approach to the future by building in creative, yet practical, strategies that improve profitability right now.
Fortunately, our Profit Enhancement Process gives you an option geared to the special business needs of your organization.
The Profit Enhancement Process offers you a systematic approach to improving profitability at all levels of planning, management and operation. It helps you build in profitability through a proven, ongoing process of review, discovery and implementation combined with periodic evaluations that assure sustainable results.
Most important, the Profit Enhancement Process gives you the ability to implement change through a variety of techniques and procedures that best suit your organization.
Our Feasibility Study experts can help you for all types of projects including industrial, commercial, contracting and investment projects.
We are a leading firm in undertaking Feasibility Studies. We are included in the List of Recommended and Approved Consultants for Feasibility Studies by the General Industrial Corporation (G.I.C.) in Abu Dhabi.
Minimize your doubts when time comes to make the big decisions.
Our feasibility studies provide a comprehensive financial analysis of future operating results produced by a significant change in an operation, such as the introduction of a new service or expansion of the facility. The study includes a detailed analysis of the demand for a proposed service or industry and additional costs to be incurred.
A feasibility study is most frequently performed in conjunction with a major capital project, debt financing or market expansion.
Our financial feasibility studies contain the following components:
Preparation of a five-year forecast which includes
Setup of Entities
Establishment of Companies
Partnerships & Companies
We assist not only in start-ups of Partnerships & Companies but also in amending or realigning or rearranging of terms of agreements of existing partnerships & Companies
We have a rich experience in drafting memorandums of association, and articles of association of partnerships & Companies inside UAE & at the Free Zones of the UAE
Our drafting reflects the needs and intentions within all types of companies in a financially and legally understandable manner. It is done in accordance with the Commercial Companies Law & all relevant Laws all over the UAE.
We also cater to the needs of clients in need of establishing branches of their company from other countries normally covered in the UAE Commercial Companies Law under a separate section called “Branches of Foreign Companies” which covers such entities’ rules & regulations when working in the UAE.
Our long experience in establishing branches of foreign companies all over the UAE and in accordance with the Companies Laws enables us to advise clients on many aspects - both legal and financial - as to the requirements in the UAE.
Our service extends to set up of entities at all the free zones of the UAE. In fact, our service commences even before you decide where to set up as we advise you the best or correct place to set up avoiding huge unnecessary expenses & efforts as we witnessed some of our esteemed clients suffered before they started getting advice from our experts in this field.
We perform this service by advising, drafting of agreements, and filling of forms. In addition, our partners are ready to be appointed as Managing Director or Secretary, as per legal requirements on ad hoc basis or permanent basis.
Jebel Ali Free Zone Area (JAFZA) of Dubai is a renowned free zone. Other free zones have been established in Dubai, Abu Dhabi, Sharjah, Ras Al Khaima, Ajman & other Emirates. All our drafting is done in English and Arabic languages where needed. At all Free Zones English language only is needed.
Offshore Company Registration
We are a registered agent in the approved list of Registered Agents for Offshore Companies Registration in Jebel Ali Free Zone Area, Dubai & Ras Al Khaimah Free Trade Zone (RAKFTZ) in Ras Al Khaimah
Other Services in this field
All services for Offshore Companies such as Registration, Accounting, and all other professional services listed. In addition, we are accepted at all Free Zones as registered Auditors for all types of entities registered there including the offshore Companies.