JV Thomson Chartered Accountant

Services

The ability to understand the strategic needs of our clients combined with the business experience of the professionals to create customized solutions to meet clients’ needs enables us to deliver excellent services to our clients. Our service teams are committed to delivering value to multinational clients doing business across borders with commitment to delivering technical excellence and the highest standards of client service.

Audit & Assurance
The audit and assurance landscape is changing. Regulatory requirements, coupled with increased stakeholder demands for greater transparency, are putting more pressure on organizations. As a result, audit and assurance are high on the agenda for many boards.

The companies in UAE require their audits to be completed in line with International Standards of Auditing with accounts being prepared under International Financial Reporting Standards.Most entities registered in the United Arab Emirates are required by law to have their annual financial statements audited.

Statuary audit is mainly required by the shareholders and government for the purposes of taxation and other purposes. It may also be required by banks as part of the banks facilitation agreements.

The main responsibility of statutory auditors is to perform the process of annual statutory audit of the company’s financial accounts, providing opinions if they are an impartial and fair reflection of the company’s financial position. Statutory audit process often deal with the examination and evaluation of internal controls to manage the risks that could possibly affect the financial accounts, to decide if they are working as according to intended plans.

Even though some businesses don’t need to have an audit by law, it makes commercial sense for having an audit, such as getting the best price when it is opportune time to sell the business, keeping banks happy when you need finance, keeping credit insurers and suppliers happy, but most of all, giving you the comfort of knowing that you have strong controls and accurate results.

We work with our clients to ensure that they are able to fulfil their statutory obligations and file audited accounts in a timely manner.Our methodology is designed to deliver national and international standards and all our professionals are guided by the same approach to methodology, processes and documentation. All audit staff undergo frequent and regular training to help ensure their knowledge is as current as possible.

The high quality of communication is a particular feature of J V Thomson's audit process. J V Thomson is confident in the technical abilities of our staff who have the extensive experience and authority to make accounting decisions. 

 

The Value Added Tax, commonly called VAT in business parlance, is the most common type of consumption tax levied on goods and services. It is anindirect tax which is imposed on sales of goods and service charges. Over 150 countries have implemented VAT including all 29 European Union members.

VAT is charged at each step of the 'supply chain'. Ultimate consumers generally bear the VAT cost while businesses collect and account for the tax, in a way acting as a tax collector on behalf of the government.

Businesses will be responsible for carefully documenting their business income and costs and associated VAT charges. Registered businesses and traders will charge VAT to all of their customers at the prevailing rate and incur VAT on goods / services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.

All businesses will need to keep range of business records of their financial transactions and ensure that their financial records are accurate and up to date. Businesses that meet the minimum annual turnover requirement will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any eventand it is the responsibility of business to establish thatthey are not required to register for VAT.

VAT will provide a major source of income which will contribute to the continued provision of high quality service to the public. It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

We will provide absolute professional services for your VAT compliance in all areas such as VAT training, VAT registration, financial management, book-keeping, technology, and perhaps even their human resource mix. Our experienced team is capable of advising and assisting business in the region to improve their systems and processes. We will assist in VAT registrations and in the preparation and filing of VAT returns and will train and equip the key personnel. We will conduct periodic training sessions to create an organization-wide awareness and preparedness on the effect of VAT implementation.
 

Internal Audit
Internal audit is a dynamic profession involved in helping organisations to achieve their objectives. The role of Internal Audit is changing. Traditionally, its task was to ensure compliance. Now, it is more involved in top-level decision making, protecting the organisation against risk and improving control systems. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organisation. The role of internal audit is to provide independent assurance that an organization's risk management, governance and internal control processes are operating effectively.

We assist organisations to achieve a competitive advantage by using their compliance efforts to build controls and processes that are sustainable and add value. Assessing and managing risk is an everyday task that needs to be met head-on. Companies should develop and implement a plan that follows a top-down, risk-based approach to identify and manage potential risks. Our internal audit services are designed to be right-sized to meet the needs of your organization, whether you need assistance for your existing internal audit function, or a turn-key solution.

With internal strategies tailored to the individual needs of each client,JV Thomson conducts audits in a proactive, forward-thinking manner – not as a traditional advisory service, but as a tool for future success. An audit allows businesses to identify and evaluate their internal controls and better understand what actions need to be taken to ensure operations are running efficiently at all times.

We help organisations to improve their corporate governance practices, risk management and internal control systems by establishing ERM systems to proactively manage risk, and creating/improving its internal audit function to focus on strategic and operational issues.As a result of internal audit, clients are able to identify and Manage risk, add value and efficiency to operations, develop successful strategies, make smarter business decisions and Safeguard assets.

We understand that internal auditing can be an invaluable asset that reveals the true underlying causes of both strengths and weaknesses. With this crucial insight, companies can overhaul or modify operations to strengthen and streamline internal control procedures and safeguard assets. Additionally, we don’t just offer one-time audits, but rather long-term risk management solutions that work today and in the future. This approach allows clients to adjust their processes as they continue to grow.
 

Accounting & Financial Reporting.

✓ J V Thomson offers a wide spectrum of accounting services that answers to the financial needs of any business in the global market. We ensure that the financial statements are complying with International Financial Reporting Standards (IFRSs) and are committed to keep the highest level of professional standards and quality. International Financial Reporting Standards (IFRS) are a set of standards designed as a common language of business so that financial statements of different companies are understandable and comparable across international boundaries..

This segment is engaged in providing the following services

✓ Financial accounting system design & implementation

✓ Setting up of accounting procedures

✓ Accounts updation on periodical basis

✓ Supervision and review of financial accounting records

✓ Financial reporting

 

J V Thomson offers gamut of financial advisory services ranging from conducting feasibility studies, business plans, valuations, restructuring, mergers and acquisitions, financial and accounting due diligence to banking advisory services. We offer our expertise to provide optimal capital structure at least cost to the organizations. Our team can play a significant role in managing your financial requirements. We have experienced banking professionals on board to advice about all type of financing such as working capital financing, contract financing, term loans, mortgage loans, asset financing, etc. We facilitate to cater to the borrowing needs of the organisations by leveraging our strong relationship with the banks and financial institutions.

Business valuation is a process and a set of procedures used to estimate the economic value of an owner's interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive to finalise a sale of a business. 


Value is driven by assets and liabilities, income, management, location, and all these factors make a business unique. Understanding what drives value and where value exists paramount in making informed decisions. We spend time working to understand the business dynamics and its key value drivers.

Our experienced professionals will do an insightful analysis and careful review of the facts, also, they have excellence in accounting, taxation, and financial due diligence to provide you with valuation advice for a multitude of purposes.

Restructuring is a type of corporate action taken when significantly modifying the debt, operations or structure of a company as a means of potentially eliminating financial harm and improving the business. A company restructures its operations or structure by cutting costs, such as payroll, or reducing its size through the sale of assets.


Our BR professionals are valued by clients for their ability to quickly identify problems, gain cooperation, develop viable solutions and implement them with sensitivity and precision. Our experienced teams can offer a full range of advisory and implementation services, from turnaround and restructuring plans to optimized exit strategies.

We are also providing CFO services which will enable SME to professionally manage their resources to achieve strategic goals and there by maximize wealth of shareholders. CFO plays a very important and strategic role in creating optimal capital structure, driving the strategy of the company across the organization by linking it with the budgets, business process, performance of the team, creating information system which can be analyzed strategically so as to provide key insights to the top management.

Accounting Services
All businesses will need to keep range of business records of their financial transactions and ensure that their financial records are accurate and up to date. Financial records are mandatory as per VAT Law and  any businesses that do not think that they should be VAT registered should maintain their financial records in any event and it is the responsibility of business to establish that they are not required to register for VAT.


Our experienced professional team provides wide range of services in accounting and book keeping to various business entities ranging SME to large business groups. Our service include monthly accounting, clearing backlogs, preparing financial statements, management reporting, financial analysis and monthly/ quarterly/ yearend reviews.

Our dedicated professionals review the financial systems to identify internal control weaknesses and suggest effective ways to install strong internal controls to achieve the goals of minimization of the risks of errors, omissions and frauds and to safeguard the assets of the organization.

The owners of small and medium-sized family-owned and managed organizations may not find it viable to employ a full-time accountant nor can they afford to spend the time to look after the accounting function. In such cases the important accounting function takes a back seat and J V Thomson steps in to fill the vacuum of a qualified accountant and makes the owners and management free to concentrate on their business.

For clients employing full-time junior accountants, we pay regular visits to assist the clients for the guidance and training of their staff, supervise their work and provide regular management reports. Thus, by structuring the package of our services we provide the client's continuity in their business and value for their money by assisting them in providing regular monthly management information to make informed and timely business decisions.

We are also providing professional services to MNC’sthat are keen to maintain their financial records up-to-date and error free. Our professionally qualified and well experienced staffs are providing quality services to many bigger business groupsin finalizing their periodical and yearly financial records. Our dedicated staffs are the back bone of J V Thomson who ensures the complete satisfaction of our customers and contributing towards the achievement of our moto of quality and integrity.
 

Accounting Software Solutions
The current business environment demands integrated accounting systems to maximize efficiency and enhance productivity. An appropriate accounting system is necessary for the management to get the right information at the right time. Our expertise with various packages currently on the market as well as awareness of new products allow us to aid you in choosing and implementing a system that will suit your company's needs. We recommend proper accounting software which will be customized to fit each of our client's business requirements. 

With our solid accounting knowledge and the ability to convey it, we also help you to set up your present system correctly and improve your efficiency to utilize the features and recommend the modifications if any required on your current accounting systems.



Company Formation

We offer company formation services in Dubai and other Emirates both in main land and in free zones. Housing a team of qualified professionals, J V Thomson liaisons with its clients for establishing their business in UAE and handles the complete business formation process. 


Our services include strategic recommendations, negotiations with local stakeholders, completing documentation formalities and much more. We also benefit our clients with our in-depth knowledge and extensive experience, which gives them the ability to precisely understand the current market trends and unique needs of their business.


Company Liquidation

Company liquidation in U.A.E requires a qualified approach with strict adherence to formal procedures. Only a complete understanding of the existing legislation can help you to meet the liquidation requirements as mandated by the law of the land. JV Thomson CA's has been providing highly specialized liquidation Services in U.A.E, to limited liability companies, free zone companies and offshore companies across UAE. 


Our specialized services include determining a solution and advise you on objectives such as costs, time and risks to participating as one of the independent third party liquidators for finding a quick-fix solution. We will ensure liaison between client and governmental authorities to find an easy and mutually acceptable exit strategy.


Value Added Tax


The best part of UAE yet to come……..

Value Added Tax (or VAT) is an indirect tax. It is a type of general consumption tax which is imposed on sales of goods and service charges. VAT is one of the most common types of consumption tax implemented around the world. Over 150 countries have implemented VAT including all 29 European Union members.


VAT is charged at each step of the 'supply chain'. Ultimate consumers generally bear the VAT cost while businesses collect and account for the tax, in a way acting as a tax collector on behalf of the government.

VAT will provide our country with a new source of income which will contribute to the continued provision of high quality public services into the future. It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

Businesses will be responsible for carefully documenting their business income and costs and associated VAT charges. Registered businesses and traders will charge VAT to all of their customers at the prevailing rate and incur VAT on goods / services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government. 
All businesses in the UAE will need to keep range of business records of their financial transactions and ensure that their financial records are accurate and up to date. Businesses that meet the minimum annual turnover requirement will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event, in case we need to establish whether they should be registered.

We will provide absolute professional services for your VAT compliance in all areas such as VAT training, VAT registration, financial management, book-keeping, technology, and perhaps even their human resource mix.

who we are

JV Thomson Chartered Accountants is a comprehensive Audit and Advisory firm


more about usChartered Accountant in uae
get in touch

We are happy to assist you. So please feel free to contact us.

  • P .O.Box: 238021, Al Qusais, Dubai, United Arab Emirates

  • T: +971 4 3798623

  • M: +971 55 3981577

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