Audit & Accounting Services
We provide a full range of Audit and Accounting services at MA Services that are meant to assist companies in Bahrain to overcome the challenge of financial management, maintain their adherence to the regulatory requirements, and enhance their performance. As a startup, SME, or a large company, we are able to offer you intimate solutions to your financial reporting and audit requirements through our team of well-trained accountants and auditors.
We provide audit and accounting services that are responsive to your particular business needs, and as such, you will not only be compliant with the local taxation laws but also maximize your financial performance sustainably.
Our Audit and Accounting Services
Statutory Audits
In Bahrain, a statutory audit is a legal obligation of most companies, and it is a necessary measure to ensure that your financial statements are true and that they are prepared in accordance with the legal structure. We give you a detailed analysis of your financial records, which will add value to the credibility of your business. Our services include:
- Financial Statement Audit: We ensure that your financial statements, such as balance sheets, income statements, and cash flow statements, are accurate and are prepared in accordance with International Financial Reporting Standards (IFRS) and local accounting regulations in Bahrain.
- Checks on Compliance: We make certain that your financial records comply with the regulatory requirements of the Bahrain Chamber of Commerce and Industry (BCCI) as well as other entities involved.
- Risk Assessment: We conduct a deep risk analysis to determine any possible problems that can cause a decline in the financial status of your company or cause the violation of rules.
Internal Audits
Internal audits assist companies in determining inefficiencies, reducing risks, and ensuring the effective use of operations. Our internal audit will help to improve your internal control systems and to make your financial reporting more accurate. Our internal audit services entail:
- Risk Management: We evaluate and enhance the risk management model of your company and determine the possible financial, operational, and compliance risks.
- Control Systems Evaluation: We test your internal controls to make them strong and effective against fraud and operational inefficiencies.
- Process Improvement: We recognize any possibilities of optimizing both financial and operational processes, which result in cost savings and better performance.
Accounting Services
Our accounting services assist businesses in keeping proper financial statements, handling their daily financial transactions, and being in accordance with the local laws in managing taxes. We offer:
- Bookkeeping: We offer complete bookkeeping services for all financial transactions as stipulated by the regulations.
- Financial Reporting: We prepare timely and good financial statements, such as profit and loss statements, balance sheets, and cash flow statements, that give an insight into the financial health of your business.
- Tax Accounting: We take care of your business compliance with the laws of Bahrain taxation, preparing and filing tax returns, calculating VAT, and advising on the opportunities to save taxes.
- Payroll Services: We handle payroll handling, which is handled in line with labor regulations and is paid on time, and these services are paid in full.
Tax Advisory and Compliance
Tax advisory services are provided by us with the aim of ensuring that your business adheres to the local tax laws and that it pays minimal taxes. We offer:
- VAT Compliance: We can help you with VAT registration, or in filing returns, and also ensure that your business complies with the VAT laws in Bahrain.
- Tax Planning: We assist companies in making tax plans, which reduce the liabilities and maximize the exemptions and credits available.
- Transfer Pricing: In the case of businesses that have cross-border business dealings, we give advice on transfer pricing policy and also make sure that businesses adhere to the international tax requirements.
- Tax Audits: In case your business is chosen to be audited by the tax department, we offer advice and services to make sure that you pay all the taxes.
Financial Advisory & Management Reporting.
We offer strategic financial advisory services to make informed decisions that will lead to business development. Our services include:
- Financial Forecasting: We generate financial forecasting on the historic data of your business and in accordance with the market trends, help you in planning your future business growth and cash flow management.
- Budgeting: We also help in the preparation of comprehensive budgets that match your business objectives and aims so that you can have good financial control.
- Cost Analysis: We assist in the identification of cost-reduction based on the opportunities and the optimization of operational efficiencies by considering your cost structures and advising on the same.
- Management Reporting: We offer customized management reporting, which brings out the important financial performances to facilitate your making of informed decisions.
Due Diligence and Business Valuation.
Due diligence and business valuation are needed when entering new markets, business acquisitions, and investments. Our services include:
- Due Diligence: We have thorough due diligence to assess the financial health, legal status, and efficiency of the businesses to make sure that any business deal is good and profitable.
- Business Valuations: We offer valid business valuations, which are based on the market conditions, financial performance, and growth potential, among others, to aid in making mergers or acquisitions or investing decisions.
Advantages of Our Audit and Accounting Services
- Adherence to Local Laws: We will make sure that your business adheres to the accounting and financial reporting standards of Bahrain and avoid the risk of penalty or fine.
- Accurate Financial Reporting: Our full accounting will offer you clear, accurate, and reliable financial statements that will show your business its real financial position.
- Enhanced Financial Control: Our accounting and advisory services will allow businesses to have better control over their finances, thereby making better decisions and improving their operations.
- Tax Optimization: Tax planning has been used by businesses to reduce tax liability by ensuring that tax liability is not violated, but rather opportunities to reduce tax liability are identified.
- Improved Credibility and Trust: A properly conducted audit results in improved credibility of your financial statements and earns your stakeholders, investors, and regulatory bodies’ trust.
- Strategic Insights: The business is empowered by our advisory service to create strategic insights to propel profitability, cost optimization, and financial sustainability in the long term.
Reasons to Engage M A Services in Your Auditing and Accounting
- Professional Team: Our team consists of experienced accountants and auditors who have adequate knowledge of Bahraini tax laws, IFRS, and financial provisions.
- Solutions to Your Industry: All businesses are different, and therefore, we offer tailor-made accounting and audit services that best suit your business objectives and business requirements in the industry.
- Holistic Services: Starting with statutory audits to tax planning, management consulting, and financial reporting, we can provide services that will fulfill all your accounting and auditing requirements.
- Devotion to Accuracy and Integrity: We uphold accuracy, transparency, and integrity in whatever we do, and this way, your financial records will be good and in tandem with regulations.