“True & Fair” Financial Statements would lead, always a success to any business or ventures and we make sure that at Baker Tilly MKM the Audited Financial statements are as transparent as “MIRROR”.
Getting Financial Statements certified from an independent “Baker Tilly” member firm is a reputation to the client and at Baker TIlly MKM you have that assurance as we are driven by very high standards of Quality Auditing & Procedures by our worldwide network following universal procedures.
Thus following a Global and Universal Audit methodology, risk assessment procedures vis a vis adhering to the regulatory requirements, fine tuned to the local and region needs, however without compromising the standards and quality, we deliver in each client engagement a trust and confidence to them.
Our high caliber team of Auditors, supervisors, quality controllers and engagement partners are all subject to upgrading their technical knowledge and skills to keep abreast of the fast changing auditing and accounting standards. This practice is part and parcel of our life as we are under the ‘Charter’ of respective institutes to ACT & DELIVER ethically and professionally. |
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At Baker Tilly MKM we offer the following Audit & Assurance Services
Statutory Audit: |
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| Year end certification and opinion on the overall financial statements of an entity in order to ensure that the Financial Statements are; |
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Prepared following International Financial Reporting Standards (IFRS). |
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Critically examined based on risk assessment and adopted procedures. |
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Analyzed from the management perspective to provide MIS on the same. |
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Having adequate internal controls and suggest where the improvement is essential. |
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Providing the required assurance as to their expectations to its shareholders and stake holders. |
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Detailed enough with supporting schedule disclosure and notes to effectively provide present and prospective lender a neat and clear status of the entity “as it stands”. |
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In line with the expectation of the Authorities and regulatory regime wherever applicable. |
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| Internal Audits: |
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We are internal Audit specialists, most entities would like to conduct an independent internal audit by a third party (professional firm) rather than in-house internal auditors.
Internal Audit, unlike Statutory Audits are not the certification or year end audits, therefore detailed and comprehensive Audit checks, principally based on the idea to provide assessment of adequate internal control procedures and following of correct accounting principles and policies, are the very basis of this tool.
At Baker Tilly MKM an “Internal Audit” Team looks far beyond a typical financial audit while delivering internal Audit engagements. We go deep in to the procedures and test the effectiveness, suggest new procedures and make an internal assessment of the threats to the organization from frauds and such risk besides assessing the losses which otherwise are not apparent. |
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| Concurrent Audit: |
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Round the year Audit is one such special services which you can get from “Baker TIlly MKM”. Concurrent Audit is basically aimed to conduct the Audit as it goes with routine transaction or say “online” or better to call on the spot Audit as a continuing practice.
Concurrent Audit in most cases is 100% checking of all transactions contrary to the test check methodology adopted while performing statutory audit which is usually after the close of the year. Thus concurrent Audit mitigates the continuing of mistakes, Errors and frauds as this could be spotted while doing the transaction audit online.
For Banks, Institutions, Stock Brokers, Money Exchanges, these Audits are performed, in general, however many large and multi-locational clients these are proformed in contrary to year end exercise.
Similarly most publicly tranded and listed companies fall within this category of audit as a regulatory measure. |
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| Investigating Audits (Fact Finding Audits) FFA: |
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Fact finding Mission is the core of investigating Audits, and we have specialized team who can provide these services to clients who are proven to such risk.
The investigation Audits are performed/conducted which at times are aimed for the specific area, while many time these audits are conducted for the entire organization for the full year or series of years.
You can trust “Baker Tilly MKM” to provide you with the facts right from the bottom, in such investigation audits or specific fact finding mission. |
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| Inventory (Stock) Audit: |
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As the name suggests the Stock Audit is an Audit of Inventory wherein the Auditors have to conduct a thorough search and Audit on the contents of inventory as to its age, suitability, movement, purchase price, market price, and direct and indirect cost allocation besides the fair valuation.
The inventory audits are mainly conducted for the banks and financial institutions who have lended to their corporate clients against the security of stocks. These audits are thus for all independent third party evaluation as to the physical availability, correct value as also to technically verify that the item placed to the bank or to the lenders are marketable and not obsolete and slow moving.
These audits while also form part of the due diligence process normally in the merger and acquisitions exercise will many a time an independent third party assessment by the corporate clients and the listed companies.
At Baker Tilly MKM we have highly specialized team of expert Auditors who have indepth knowledge and experience handling these assignments and thus can add value to the clients whether banks or institutions or the companies. |
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| Debtors (Receivable) Audit: |
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On the similar lines of Inventory Audit these audits are also conducted which is an independent process of verification as to the genuinity of these receivables besides the quality of these receivable in terms of their recovery, issues related to discounts etc, besides the inter party or inter company transfer and sales and the recovery of such inter company transactions more so the trend of recovery of such receivables.
At Baker Tilly we again have specialized knowledge and experience handling these special assignments and we can take up these assignments for variety of lenders to provide them assurance on suitability and authenticity of the security offered to them by their client. |
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| Accounting Solution & Services: |
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Besides providing the Assurance Services at “Baker Tilly MKM” we have an independent wing providing accounting solution and services to many of the small and medium sector companies and firms, who don’t have qualified accountants, but their transaction and services are complex and require the development, compilation of books of accounts based on international standards and accounting procedures etc.
Under the umbrella of this wing principally the client is benefited as they get the services of experienced and qualified accountants while paying a reasonable cost which ensure the proper accounting of their transactions as also preparation of Financials. |
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| We provide solution for the following: |
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To set up whole accounting system including coding and accounting heads. |
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To assist transformation from manual and traditional accounting systems to computerized accounting system. |
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To ensure training and supervision of accounting staff, assistants and junior accountants to take on the qualified accounting systems. |
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Part time, daily weekly monthly accounting services following the international standards and accounting policies. |
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Compilation of old accounting records, reconciliation and completion of non completed accounts. |
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Generate Lead reports based on group branches accounts for the management reports with analytical view on the accounting policies adopted. |
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| For more information & details, please get in touch with us today. |
| Call us on +971-43354233 to discuss with our expert business consultant. |
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