Accounting Management & Audit
Integrated financial solutions for your organization’s success in Qatar: well-kept accounts, regular internal reviews and financial reports you can rely on.
Accounting management & audit
We run and review your accounts as if we were your finance department: timely entries, accurate reconciliations and figures ready when you need them.
Accounting is the backbone of any business, and the success of an organization depends on how well its accounting and financial system works. With the accounting management and audit service at Bader Farhan Al-Ahmad Office for Accounting, Auditing & Consulting, you work with accountants whose expertise comes from many years in accounting and auditing, and who become the cornerstone of that system in your business.
Accounting management organizes and classifies a company’s financial data, whether it concerns tax obligations, wages and salaries, or costs and expenses, all the way to the statement of financial position and the return on business profits. Scattered documents become information that management, partners and banks can rely on.
Every field has its experts. Some matters are hard for a company to handle well on its own, such as precise accounting, its legal requirements and the frequent updates that need constant follow-up. That is why many owners engage an accounting firm from the day the company is set up. Our Doha office has consultants and staff from different countries, and we work with advanced accounting software. We apply the full accounting cycle for you: inputs from your financial and administrative documents, processing through accurate recording, classification and summarizing, and outputs in the form of reports and financial statements.
What we deliver
01
Day-to-day bookkeeping
We record transactions as they happen from the supporting documents and post them to the general ledger using a chart of accounts and cost centers built around your activity.
02
Monthly reconciliations
We reconcile bank and cash accounts every month and track customer and supplier balances with an aging analysis, so you always know what you are owed and what you owe.
03
Regular internal review
We routinely check entries, documents and spending approvals so that errors are caught early and corrected before the period is closed.
04
Salaries and wages
We calculate monthly payroll, leave accruals and end-of-service gratuity provisions and book them, working with our payroll accounting service.
05
Fixed assets and inventory
We keep a fixed asset register and calculate depreciation, follow inventory movements and take part in the year-end stock count.
06
Monthly management reports
A trial balance, an income statement and liquidity and profitability indicators every month, compared with the budget or the previous month, in plain language that helps you decide.
07
Annual financial statements
We prepare the year-end financial statements under IFRS and put together a complete file of documents and reconciliations for the independent auditor.
08
Tax follow-up and auditor queries
We prepare the data needed for your tax return with our tax team and answer the external auditor’s questions.
How we work
01
Assess where you stand
We review your books, your accounting system and how documents are kept, and any backlog of entries, then set out the gaps and what to fix first in a short report.
02
Agree the scope
We agree the scope, the reporting cycle and document deadlines with you, working at your premises or remotely.
03
Record and reconcile
We record transactions and carry out the monthly reconciliations, then review them internally before each month is closed.
04
Report and follow up
We deliver the monthly reports on a fixed date, discuss with you the opportunities and risks the figures reveal, and suggest the actions needed.
05
Close the year
We close the financial year, prepare the financial statements and get the audit file and tax return data ready on time.
Why choose Bader Farhan Al-Ahmad Office for accounting?
Many firms in the local market provide accounting services, but at Bader Farhan Al-Ahmad Office for Accounting, Auditing & Consulting we work to give you the methods, solutions and alternatives that keep your business going and help you reach your project’s goals. Our accounting services cover all kinds of businesses and investments and draw on our past work. Our accountants are professionally qualified: they keep your accounts up to date and provide the reports and accounting information you ask for, so you can have peace of mind about this side of your business.
In Qatar, well-kept accounts are no longer optional. Commercial Law No. 27 of 2006 requires traders to keep books that show their financial position accurately and to retain them for ten years, and Income Tax Law No. 24 of 2018 requires anyone carrying on an activity in Qatar to keep books and records in line with international accounting standards. Because Qatari legislation does not allow those who prepare the accounts to audit them, we keep the two roles apart: if we manage your accounts, an independent auditor carries out the statutory audit.
Setting the company’s vision and goals is essential to any business, and what shows how far you are moving towards them is sound bookkeeping and accurate reporting: regular figures tell you early whether your business can keep going as it is or needs a change of course. This service is a particularly good fit for:
- Start-ups that do not yet need a full finance department
- Small and mid-sized companies that want regular monthly reports
- Branches of foreign companies that must attach audited accounts to their tax return
- Businesses with a backlog of unrecorded transactions to clear
FAQs about accounting management in Qatar
What is the difference between accounting management and bookkeeping?
Bookkeeping is recording and classifying transactions in the books from their supporting documents. Accounting management goes further: it includes bookkeeping plus monthly reconciliations, regular internal reviews, management reports, the year-end close, and preparing the file for your auditor and the data for your tax return.
Can your office audit the accounts it manages for us?
No. The Executive Regulations of the Income Tax Law do not allow anyone who took part in preparing a taxpayer’s final accounts to audit them, and the Commercial Companies Law bars a company’s auditor from doing any technical, administrative or advisory work for it. So if we manage your accounts, the statutory audit is carried out by an independent auditor, and we prepare a well-organized file for them. If we are your auditor, your books are kept by your own accountant or another firm.
Does Qatari law require companies to keep accounting books?
Yes. Commercial Law No. 27 of 2006 requires a trader to keep the books that the nature of the business calls for, at least an original journal, a general ledger and an inventory book, although traders with capital of no more than QAR 100,000 are exempt from that minimum. The Income Tax Law also requires anyone carrying on an activity in Qatar to keep and retain books and records. What applies to you depends on your legal form and activity.
Do you work at our premises or remotely?
Both are possible. Our accountant can work at your premises on agreed days, or we can receive your documents electronically and work on them from our Doha office, with visits when needed.
How much does accounting management cost?
Fees depend on your monthly transaction volume, the number of bank accounts and branches, your inventory and how often you need reports. We give you a clear quote after a short review of the workload.
Need advice on accounting management and audit?
Our team is here to help. Contact us now to discuss your company’s needs and receive a tailored proposal.