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Account Reconciliation

MBG’s highly experienced experts can support your organization to stay compliant with the financial regulations in place and ensure businesses are maintaining accurate financial records and monitor cash flow.

Account reconciliation is crucial for businesses and individuals to maintain accurate financial records, monitor cash flow, and detect any potential issues early on. MBG can help your organization in ensuring compliance with financial regulations and providing a clear picture of an entity's financial health.

What is the purpose of Account Reconciliation?

UAE Commercial Companies Law, Federal Law No 2 of 2015 states, every entity is required to maintain proper books of accounts and appoint registered auditor to get its audited every year.

Ensure general ledger transactions are timely and accurately reported in the correct entity.
Ensure the general ledger balance sheet amounts are accurate and reflect proper amounts.
Identify, document, track and explain transactional differences between the General Ledger (G/L) and Sub-Ledger Balances and/or independent sources.
Identify and guard against fraudulent activity and reduce losses.
The account reconciliation process can lead to root cause analysis on many operational defects, proactively highlight financial exposure, and better connect operations and finance.

How can MBG help you in Account Reconciliation?

Ensure transactions are reported timely and accurately on the General Ledger
Provide a basis for meaningful analysis for shareholders
Required by policy and consistent with accounting rules
Ensure ending balances are correctly explained
Avoid fraudulent activity and reduce losses
Ensure integrity and completeness in financial records and reporting

Why Choose MBG?

600+ Professionals and experts employed full-time
3,000+ Clients globally
100+ Fortune 500 Clients served
15 offices in 8 countries

Our

Services

Corporate Governance

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Accounting Review

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Internal Control Over Financial Reporting (ICOFR)

International Financial Reporting Standards (IFRS)

360-degree approach

At MBG Corporate Services, we give you a holistic 360 degree approach to the implications of the upcoming Corporate tax regime. We offer solutions related to legal, VAT, audit, IFRS, and other UAE-related laws and regulations.