Statutory audit and IFRS financial statements in Arabic for the tax return

We close your books, prepare IFRS accounts, have them translated to Arabic, and manage the audit with a Qatar registered auditor, so you have signed accounts in time for the Dhareeba return.

QAR 7,500Yearly

For: Companies that must attach audited accounts to the tax return (capital above QAR 200,000, income above QAR 500,000, or head office abroad) and companies required to appoint an auditor under the Commercial Companies Law.

What we need from you

General ledger and trial balance
Accounts preparation
Bank statements and confirmations
Audit evidence
Fixed asset register
IFRS and tax depreciation
Sales and purchase contracts
Revenue recognition
Payroll and end of service provision schedule
Gratuity liability under Art. 54
Capital and shareholder details
Audit threshold test
Prior year audited accounts
Opening balances

What we discuss

Is capital above QAR 200,000 or income above QAR 500,000?
Audited accounts needed with the return
Is the head office outside Qatar?
Branch must attach audited accounts regardless of size
Who translates to Arabic?
Accounts must be in Arabic
Any related party balances with head office?
TP and audit disclosures

What we file

Close books and prepare IFRS accounts
Audit fieldwork by registered auditor
Arabic version and signed report
Gratuity provision example: 10 staff, average basic QAR 6,000 a month, 3 years service: 3 weeks per year = 6,000 x 12 / 52 x 3 x 3 = QAR 12,462 per person, about QAR 124,600 total

What you get

Signed IFRS accounts in Arabic and English
Management letter points

The law

Executive Regulations of Law No. 24 of 2018 (audited financial statements): Audited IFRS accounts must go with the return if capital exceeds QAR 200,000, income exceeds QAR 500,000 or the head office is abroad; accounts in Arabic from 2020 Source
Executive Regulations of Law No. 24 of 2018 (books and records): Books and documents for Qatar activity are kept in Qatar for ten years Source
Commercial Companies Law No. 11 of 2015: Rules on company forms, auditors, dissolution and liquidation Source
Law No. 24 of 2018 on Income Tax (tax returns): Return due within four months after the accounting period ends; GTA may extend by up to four months Source

Questions people ask

Online payment in QAR is not open yet. Send us a message and an adviser for Qatar confirms the scope and the fee before any work starts.