We respond to the ever-changing economic climate of our clients by providing high quality, value for money solutions every time. As a famous quote suggests, “change is the only constant!” IFC helps your business adapt to current accounting trends. IFC has expertise in helping clients cope up with change. Our team of experts can advise you about changes in accounting standards that could affect your business internally and externally. At IFC, we provide our clients with services suited best for their business type.
There are specialist assignments whereby the Authority or Parent
company may instruct Audit of specific areas of business. The process and
scope for these assignments are limited to the instructions agreed.
Our team of experts understand the purpose of the assignments and work
diligently to ensure the core objective is met.
Business Risk Audits are preventive strategic tools that can help
businesses stay on top of adverse situations. They are designed to identify
potential risks, and consequently to inform businesses about the action that
needs to be taken to plan for and respond to the risks.
As the business grows, the risk profile of the business changes. We have
experienced professionals who have worked with businesses from startups to
mature stages and understand the risks associated with each business cycle.
We help identify the Business risks and work with the owner to help mitigate
the risks identified.
Due Diligence is generally required to evaluate the history,
performance and ability of an organisation. This may be for the purpose of
acquisition, investing or for the purpose of evaluating the company prior to
establishing a long-term commercial arrangement.
The due diligence involves evaluating Financial, Operational, Legal and
Commercial aspects of the business. Our team of experts follow a rigorous
process and enable our clients in making the right decision by presenting an
independent Impact assessment of the findings.
An external audit is an examination that is conducted by an
independent accountant. This type of audit is most commonly intended to
result in a certification of the financial statements of an entity. This
certification maybe required due to regulations, licensing authority or by
certain investors and lenders. External Audit is compulsory for all the
companies registered in UAE.
There are many subsidiaries of US, European and Far East companies
established in UAE. There are external audit requirements based on Group
instructions from the Parent Company Auditors. Our staff comes from diverse
background and we work with many subsidiaries of listed companies from
Europe and US based on Group Audit instructions.
Our Audit team is fully up to date with the International Financial
Reporting Standards (IFRS) and we follow the global best practices for the
Audit process.
Forensic audit or fraud investigation demand is on the increase
because of the increase in financial crimes worldwide. A forensic audit is a
process of tracking & investigating the matters related to fraud, financial
crimes and commercial disputes. Statistically, majority of the frauds are
committed by known and trusted people of the organisation. We help determine
the root cause of financial errors, alleged employee fraud, reduction in
company revenue, increase in cost & other operational matters.
If you are suspecting that there maybe fraud in your company, our team of
experienced professional can help you uncover the fraud. Alternatively, our
fraud experts provide consultation to our clients to put together the right
processes and controls to minimise or eliminate fraud.
Internal audit is a dynamic service helping organisations achieve
their objectives. It is concerned with evaluating and improving the
effectiveness of risk management, control and governance processes in an
organisation.
The scope of Internal Audit function is defined and agreed with the Senior
Management and owners of the business as the Internal Auditor helps improves
the organisation. The role has evolved over the years from being the
“policeman” for the Management to being a “Value added advisor” of the
Management and company. Depending on the requirements, the Internal Auditor
acts as a Coach, Risk Manager, Controls Expert, Efficiency specialist or a
Problem solving partner.
Our team of qualified Chartered Accountants comes from a diverse background
and are able to provide a bespoke service to our clients based on their
requirements.
A disciplined approach to review, evaluate and improve the
effectiveness of an organization’s information technology infrastructure,
policies and operations. It helps to determine whether a computer system
safeguards assets, maintains data integrity, allows organizational goals to
be achieved effectively and uses resources efficiently.
Our team has extensive knowledge of IT systems and testing procedures and
they work with the business owners in assessing the risks within the
company’s IT systems and infrastructure
Company Liquidation, dissolution or de-registration of a company
refers to the closure of business operations after paying off the
liabilities to the creditors and distributing the assets of the company to
its shareholders and owners. There is a detailed legal procedure laid down
by each authority, Mainland DED or Freezone Authority.
Our staff understand that closing the company is a very difficult decision
for the owners and hence, they work closely with the owners to smoothly
complete the process. They are fully conversant with the whole process of
liquidation with the relevant Authority and ensure that the process is
completed and there are no open files or liabilities.
VAT was introduced in UAE on 1st January 2018. There have been
many updates and clarifications issued by the Federal Tax Authority since
the implementation. Our team of VAT experts are fully up to date with all
amendments and clarifications issued.
Our team reviews the clients financial records to ensure that they are
compliant with VAT law. This gives our clients peace of mind as they do not
have to worry in case of an official audit by Federal tax Authority.