We render the following services to our clients:
We understand that the audit is key to sustain confidence in corporate financial reporting. Our team’s focus on quality, transparency, and innovation to ensure compliance with applicable reporting standards.
We perform audit on test bases and our audit approach has been designed to:
- Discover the major errors and defaults in the financial statement (if exist).
- Determine whether the accounting standards applied are:
- In compliance with generally accepted accounting standards.
- Appropriate to the nature of the entity.
- Determine the fairness of estimations made by the management included in the financial statements.
Zakat & Tax Services:
We assist our clients to understand the entity’s zakat and Tax Liability by rendering our professional services in terms of preparation and Submission of zakat and Tax returns in accordance to the rules and regulations provided by the General Authority of Zakat And Tax (GAZT).
Our services include:
- Calculation of Zakat and tax
- Preparation and filling of Zakat and tax return
- Handling of tax and Zakat assessment and appeal matters
- Tax planning
- Tax and Zakat advisory
- Online Portal Tranning
Value Added Tax (or VAT) is an indirect tax imposed on all goods and services that are bought and sold by businesses, with a few exceptions. VAT is applied in more than 160 countries around the world as a reliable source of revenue for state budgets. VAT is imposed at each stage of the supply chain from the production and distribution to the final sale of the good or service. Saudi Arabia imposed VAT on January 1, 2018 (Rabi Al-Thani 14, 1439). VAT was introduced at a standard rate of 5%.
In Nasser Al Khunaizi Cpa’s we provide complete VAT services through our Certified VAT experts which comprises of an external audit on the entity’s overall VAT readiness and compliance procedures and identifying any major deficiencies in the VAT environment, including transaction checking. With the help of auditing, we assist our clients to cross-check whether VAT has been properly accounted for, in the business transactions, and can also ensure if the information reported in VAT returns is accurate.
To meet with the global standards, Saudi Arabia has implemented International Accounting & Auditing standard in the country. Implementing IFRS has an impact on all aspects of a company, including financial reporting systems, internal controls, taxes, treasury, management compensation, cash management etc. It requires a transformation that involves employees, processes, and systems.
We have a dedicated team of Senior staff members who assist our clients in :
• Understanding and Implementation of IFRS Accounting Policies and Procedures
• Gap Analysis between Information Required and Currently Available
• Understanding Steps to Support Parallel Reporting (i.e. Local Accounting Principles, Management Reporting, IFRS).
• Identification of Changes Required to Source Systems
• Understanding the Impact on Other Strategic Initiatives in Your Company (e.g. Quality Close, Enterprise Resource Planning (ERP) and other system integration and upgrade initiatives).
• Providing training to the client’s staff and management.
Business Advisory Services:
Our specialist business advisors are skilled in helping our clients to plan and implement contemporary business practices that provides a business to keep a close eye on the details while not losing sight of the big picture.
Working closely with your management team, our professionals gain a thorough understanding of your business and industry, and provide specialist knowledge and objective advice to help your business meet its full potential.
Our professional capability allows for the practical application of financial and accounting data to measure performance, assess operational capability, investigate possible opportunities and model the outcomes of potential projects.