In this context, Baker Tilly provides the following Accounting Consulting Services:
Accountancy science is a theoretical framework that contains many concepts and applications, which business entities should create in order to operate in consistency with the requirements of stakeholders including board of partners, shareholders, executive management and audit firms. In other words, such framework is concerned with collecting and classifying the financial information supported by the relevant supporting documents as approved by the authorized approvers.
The accounting function in any business entity should have a chart of accounts, which is designed in a manner consistent with the International Financial Reporting Standards “IFRS” and in conformity to the financial information that should be obtained by board of partners, shareholders and executive management to help them make decisions, and by audit firms to enable them to verify sound presentation of the financial statements prepared by businesses.
Furthermore, internal control systems governing the chart of accounts framework should be in place to ensure integrity of financial information channels and absence of any potential risks. The accounting information should be managed through reliable accounting software to ensure its sustainability and maintenance of security and accuracy. In this regard, the role of qualified accountancy professionals is critical.
In light of the above, business entities need consulting firms to assist them with creating such various systems in order to ultimately achieve compliance with IFRS requirements, utilize safe software that generates financial reports accurately and on timely basis and provide the updates related to amendments to IFRS.
In this context, Baker Tilly offers high-end range of accounting consulting services that help achieve the above.
Added value to business entities from engagement of Corporate Services:
- Ensure soundness of financial data and reports, define financial accountability and transparency, and provide accurate performance data;
- Help entities grow their business, focus on their core activities and make informed decisions; and
- Ensure compliance with legal and regulatory requirements.