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SWIFT ACCOUNTS & AUDIT
Company Profile
2Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Table of content• About Us 3
• Strength 4
• Mission, Staff & Vision 5
• Our Services 6
• Industry Served 11
• Clients 12
• Key People 13
• Human Capital 14
• Our Office 15
About (it is all began in 2017)Swift Accounts & Audit is mid-sized progressive auditing firm of experiencedChartered Accountants, auditors and specialist service teams offering a wide rangeof services including Auditing, Accounting, Feasibility studies and Management andSoftware Consultancy services tailored to client’s needs.
With practices throughout the UAE, we become experts in your business - helpingyou take control of finances, across every aspect of your company. Whilst we arequalified auditors, accountants and business advisers, what makes us different isour innovative, flexible and commercial approach. More than 10 highly qualified andexperienced professionals are available in our office to provide the greatest level ofprofessionalism in all areas of Auditing, Accountancy, Business advice and FinancialPlanning. We serve more than 300 clients across U.A.E and Oman. Our audit reportis approved by banks in U.A.E. and we are authorized auditors for all the Free TradeZones and other license issuing authorities in U.A.E.
Our physical presence is in Abu Dhabi. However, our clients are in different parts ofthe Emirates and also from different parts of the world. We work closely with anetwork of professionals where we exchange our ideas to improve our knowledge,be informative about the business and to keep abreast with developments inaccounting and the business world with the ultimate objective to serve our clientsbetter.
Our chairman Mr. Nayef Saif Saeed Al Shamsi, has over 15 years of extensiveexperience in audit and accounting industry. He is a Master Degree holder fromUniversity of Leads, England and Bachelor of Accounting from Emirates University.
His vast experience in performing audits and analyzing financial statements willhelp you to put aside all the worries related to accounting and financialmanagement and focus on your business growth.
About Us
3Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Strengths (moving to the future)
• We follow International Financial Reporting Standards and committed tokeep highest levels of professional standards and quality.
• Our teams are Chartered Accountants from the Institute of CharteredAccountants of India and master degree from Leads University, Londonhaving considerable experience in the field of Auditing, Accounting andFinancial advisory services.
• Assure a steady quality by guarantee high quality of our deliverables.
• We have more than 300 clients consisting full spectrum of the businesscommunity located in all emirates, including Multinationals, LimitedLiability Companies, Offshore Companies etc.
• Swift Accounts and Audits is recognized by the following
• Ministry of Economic Development & Ministry of Labour for statutorycertificates/reports.
• Audited financial statements are accepted by all the banks.
• Abu Dhabi Ports, Khalifa Industrial Zone and other free zones.
• Seeking Continuous improvement.
• Adopting International & best practice standards.
• Guarantees high quality of our deliverables.
4Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Mission, Staff & Vision (committed to excellence)
Swift is powered by highly skilled professionals of consultants,auditors and executives equipped with the latest managerial andprofessional tools and works round the clock to assure the timelydelivery of your services with the highest quality.
Our vision is to become one of the best auditing and accounting firmin Middle East providing utmost satisfaction to all the clienteles. Wewould like ourselves to be known as one of the finest company to bepartnered with in all the aspects.
5Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Our Services (it is all about numbers)
Swift team is regularly updated on new and upcoming development in the regulatory and banking arena apart from the regular training and updatingon the International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles of the clients’ reporting countries, internationalstandards of auditing and in-house documentation.
We assist you with below services:
• Audit and assurance services (External & Internal).
• Financial outsourcing services.
• VAT consulting services.
• Financial studies.
• Business setup.
• Legal translation.
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The following specialties make our firm able to compete with any other major audit firms.
• We follow International Financial Reporting Standards and committed to keephighest levels of professional standards and quality.
• All our staffs are highly experienced and educated and we provide a comfortableworking atmosphere.
• We have more than 300 clients consisting full spectrum of the business communitylocated in all emirates, including Multinationals, Limited Liability Companies, OffshoreCompanies etc.
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
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1. External audit
An external audit is an examination that is conducted by an independent accountant. This type of audit is most commonly intended to result in acertification of the financial statements of an entity. This certification is required by certain investors and lenders, and for all publicly-held businesses.An audit is a valuable and useful tool to directors and owner managed businesses. Requesting an audit can often prove invaluable in finding potentialthreats to your business.
Our auditing procedures try to ensure that you gain the most out of an audit, highlighting potential problems, and providing advice and informationthat is both useful and understandable. Our audit approach is tailored to meet the specific demands of each client, taking into account all current andprojected auditing and reporting standards.
The objectives of an external audit are to determine:
• The accuracy and completeness of the client's accounting records;
• Whether the client's accounting records have been prepared in accordance with the applicable accounting framework; and
• Whether the client's financial statements present fairly its results and financial position.
2. Internal audit
Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes. They ensure compliance with lawsand regulations and accurate and timely financial reporting and data collection, as well as helping to maintain operational efficiency by identifyingproblems and correcting lapses before they are discovered in an external audit. We offer interim and full time internal audit. We assess the internalcontrol structures, ensure compliance with laws and regulations and confirm adherence to operational procedures. Our internal audit professionalstake a risk-based approach to internal audit to help clients improve performance and operating efficiency.
Audit and assurance
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
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3. Due diligence audit
Due diligence is an audit or investigation, which a company of the potential product or investment conducts. It reviews all financial records. It is a final precaution measure one undertakes, before entering into an agreement with another party. You have a set deadline to get out of the contract if your due diligence finds something materially wrong with the business. Because the seller is providing you with private corporate and financial information, be prepared to sign a nondisclosure or confidentiality agreement before receiving the documents.
4. Business valuation
Business Valuations require assigning of value to the future cash flow generation potential of any business or part off therein. This requires a deepunderstanding of the markets that the businesses operate in as well as of how each asset can contribute to or translate into future cash flowgeneration. Our Business Valuations / Business Advisory team performs valuations of business entities, intellectual property, intangible assets alongwith partnership interests, and other products. These business valuation services are provided to assist clients with mergers, acquisitions anddispositions; taxation planning and compliance; financial reporting; bankruptcy and reorganization; litigation and dispute resolution; and strategicplanning.
We provide Business Valuation & Business Advisory services to assist in the following areas:
• Business Combinations/Re-locations Valuations
• Business Financial Modeling
• Goodwill and Other Intangible Assets Valuations
• Impairment or Disposal of Long-Lived Assets
• Shareholder Value Optimization
• Business Advisory
Audit and assurance
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
9
Accounting and bookkeeping is a necessity of every organization irrespective of its size. Our professionally qualified and experienced accountantsunderstand and analyze business transactions and ensure compliance with accounting standards. Not only do they provide you with information aboutthe profitability and stability of your business, they can also help when requesting finance, both personally and for the business. It is in your business'sbest interest to keep your records accurately and timely. Doing so improves your business's chances of success, as you will be able to monitor yourbusiness more closely, and make adjustments and decisions where and when required. We can provide a fully outsourced service or we can work withand compliment your in-house finance team.
At Swift, we can tailor our accounting and book-keeping services to your individual requirements, but in essence they typically include:
• Accounting and financial reporting.
• Maintaining accurate nominal, sales and purchase ledgers etc.
• Reconciling your bank position.
• Payroll services.
• Other business reports.
Financial outsourcing
VAT consulting services
Our Tax experts can perform VAT impact assessment, VAT training etc. Our knowledge & expertise in the Tax arena helps our clients in takingadvantage of the lower taxes on their structures through our Tax Planning services. Our team takes care of VAT, Excise Tax, international taxation,indirect taxes, guiding about local tax laws, and compliance of tax and VAT regulations.
Currently Federal Tax Authority requires businesses to file VAT returns and make the payment of tax due in quarterly intervals. Our Tax experts visityour office on a periodical basis (weekly/month) to compile the information for filing the VAT Return. At the end of each VAT return period, we preparethe VAT return of behalf of your company in accordance with UAE VAT law in most efficiently and economical way.
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
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Financial studies are one of the most important assessments when you are investing in any business. It is important to understand the potential risksand returns of any project and making informed business decisions requires that these must be analyzed with a solid understanding of the macro andmicro environment.
Swift can assist with this by preparing a business plan or feasibility studies . It can assist in analyzing single and multi-dimensional market forces thataffect a project’s financial viability.
Financial studies
Business setup
Starting a business in UAE involves understanding the difference between mainland, free zone and offshore company formation. Followed by that youneed to choose a license based on the activities and services you wish to provide. Finally, you need to prepare all legal documents, open a corporatebank account and start the visa process.
We can assist you in the following domains :
• Setup a startup plan and budget.
• Find the right office for you.
• Trade license registration.
Legal translation
Some of the documents may have to be given in Arabic language to the concerned authority. we are Arabic proficient professional and hence youwont need to worry if you doesn’t have records in Arabic , we will do the translation for you. Besides you may need your Financial reports to betranslated from Arabic to English and Vice-Versa, for various reasons , we will be happy to assist you in this domain.
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Industry Served
• Retail
• Healthcare
• Insurance
• Consulting
• Oil Field
• Manufacturing
• Real Estate
• Service
11Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Clients(counting……)
12Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
The firm has an extensive clientele over 300. It is include small scale companies, large scale companies, multinational companies, free zone andoffshore companies throughout the United Arab Emirates and Oman.
Some of our Clientele belongs to the various industries as listed below:
Retail Healthcare Insurance Consulting
Oilfield Manufacturing Real Estate Service
We together with our
associates in various
locations of UAE and other
countries enable us to give
you the best in the industry.
13
1. Mr. Nayef Saif Saeed Al Shamsi
He is the founder of the Swift Accounts & Audit with more than 15 years of experiencein the fields of statutory and special audits, consulting and corporate advisory. He hascompleted his degree Bachelor of Accounting from Emirates University and masterdegree from University of Leeds, UK. His career span includes hands on experience inall area of accounting and auditing.
Key People(Our strength)
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Our Team
3. Mr. Mohammed Ahamed Farooqui
He has 20 years of experience in the field of auditing, accounting, corporate finance,financial advisory, loan and capital funding business, company setup service, humanresources advisory and placement services, business and asset valuation and fair value(IFRS).
2. Mr. Namsheel Kozhikkal
Chartered Accountant, a Fellow member of the Institute of Chartered Accountants ofIndia and has more than 10 years extensive experience including UAE in the areas ofaudit and assurance services and management consultancy. He has worked withreputed audit firms in India as well as UAE (Talal Abu Ghazaleh, Dubai) and is familiarwith all legal aspects and compliances applicable to business organizations in UAE.Apart from audit experience he has vast experience with handling leading corporateclients. His far-seeing vision, leadership and motivation have enabled manyorganizations to achieve greater heights, where he has been partnered or associatedwith.
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Human Capital(Our team)
Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
Muhammed ShareefManager -Tax & Audits
Yasar ArafathThadathilManager - Financial Services
AnasJifriJunior Auditor
Fritz BrianJunior Auditor
Abdul RasheedJunior Auditor
Mohamed HizamJunior Auditor
Mohammed NabhanAccountant
Gisha CheriyanSenior Auditor
Our Office17th Floor, Millennium Tower, Hamdan Street
Abu Dhabi. PO Box. 68940
Key Contact Person
Mohammed Ahamed Farooqui
00971 52 5841790
15Swift for Accountancy Auditing – Sole Proprietorship L.L.C.
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