Consulting firm passes audit with zero adjustments
A Sharjah-based business consulting firm providing strategy, operations, and digital transformation services to mid-market companies across the GCC. With AED 4 million in annual revenue and 15 consultants, the firm needed to complete its first statutory audit as required by UAE regulations.
Ratio cleaned 18 months of historical data, implemented proper accounting controls, and prepared comprehensive audit files from the ground up.
Reconstructed 18 months of transactions from bank statements, invoices, and emails. Classified all revenue and expenses with proper supporting documentation.
Established clear revenue recognition principles for consulting projects: recognize revenue based on percentage of completion with monthly milestone tracking.
Implemented approval workflows for all expenses, created vendor files, established contract management system for client engagements.
Prepared complete audit files including trial balance, reconciliations, fixed asset schedules, receivables confirmations, and supporting schedules for all material balances.
"We were three months from audit with no proper books. Ratio cleaned everything, documented every transaction, and delivered audit files that passed review without a single adjustment. Our auditors were impressed."
Managing Partner, Consulting Firm
Ratio continues to manage monthly accounting, project revenue tracking, and annual audit preparation. The firm now maintains audit-ready books year-round with documented controls and complete supporting files.
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