HLB HAMT has an experienced team of professionals, who have exposure in different industry segments, deep knowledge in IFRS Framework and familiarity with international standards on auditing and quality assurance.
2. “The financial statements are the responsibility of management,” always appear
prominently in most of the auditor’s communications, including the audit report
and eventually the preparation for the statutory audit will be always challenging
for the management.
The management and accounting staff often do not have the time or expertise to
prepare accurate financial statements and audit file or answer all the questions
that arise during the audit by statutory auditors. Many times, this results in
inefficient audit, and a less than satisfying experience for everyone involved in
this process.
3. HLB HAMT has an experienced team of professionals, who have exposure in
different industry segments, deep knowledge in IFRS Framework and familiarity
with international standards on auditing and quality assurance.
4. Hassle-free audit process
Our accounting team at HLB enables a smooth and hassle-free audit process. Our
services include the following:
Year-end closing process
Preparation of lead schedules
Analyze or reconcile accounts
Initiate confirmations for mailing
Evaluate or select accounting policies or procedures
Prepare financial statements or footnote disclosures
Evaluate and determine estimates included in financial statements
Preparation of calculation sheets and supporting schedules
Establish account grouping or classifications in the financial statements
Follow up with PBC list provided by the external auditor
Answering queries of external auditor related to the above
5. We can also assist you on industry-specific issues:
Real estate or developer companies
We will help you to recognize revenue in accordance with IFRS 15 for all the
development projects, which includes the retrospective application,
calculation sheets, cost allocation, transfer to inventory and development in
progress. This will be performed in consideration with RERA guidelines.
Construction and contracting companies
Our experienced industry-specific staff can help you to calculate and prepare
the revenue recognition and contract work in progress tables in line with IAS -
11 / IFRS-15 in order to have a proper closing of accounts. Also, we can assist
with the fair valuation of financial assets and impairment on investments.
6. IFRS Financial Statements
Are you facing difficulty in preparing IFRS financials because of;
Disruption of regular activities of accounting staff
Lack of quality staff due to cost or availability
Inconsistencies on the application of accounting policies
Awareness or understanding issues on latest standards or its amendments and
industry best practices
Financial agencies or suppliers asking in-house financial statements
7. IFRS Financial Statements
HLB HAMT’s highly skilled professionals can help you tackle all these problems
and prepare general purpose financial statements in IFRS framework in a timely,
accurate and understandable manner with due professional care.
This will help the management reduce the opportunity to gain synergies and
efficiencies and resulting reduced costs, so the management can concentrate on
making important business decisions and accounting staff can concentrate on
their daily activities.
8. Our methodology
Understand the entity and its business segments
Develop the financial statements template according to the business and
according to the revised or new IFRS and related interpretations
Prepare information request list and circulating among staff including
different departments
Assist or train the staff to respond the information request lists and
reconciliations
Work with the proven technologies
9. CONTACT US
HLB HAMT
Level 18, City Tower-2,
Sheikh Zayed Road
PO Box 32665
Dubai – United Arab Emirates. Tel: +971 4 327 7775
E-mail: dubai@hlbhamt.com
www.hlbhamt.com