Frequently asked questions
Clear answers about our services and how we work.
Frequently asked questions
Understand our services, how we work and what you need to get started.
Can you act as our outsourced accounting function?
Yes. We can handle accounting activities under an agreed scope, from transaction recording and reconciliations to payroll and reporting. Document exchange, work frequency and reporting are tailored to the company’s volume and needs.
Does the service cover payroll, social security and employee tax deductions?
It can include payroll, social security contributions and payroll income tax deductions where applicable, related schedules and remittance follow-up. The company approves the data and provides the necessary funds and authorisations.
What is the difference between IFRS and ISA?
IFRS concerns the preparation and presentation of financial reporting. ISA governs how an audit is performed, evidence obtained and the auditor’s opinion formed. The financial reporting framework is determined for the entity, while financial statement audits follow ISA.
Does a financial statement audit guarantee detection of every error or fraud?
An audit seeks reasonable assurance that financial statements are free from material misstatement due to error or fraud. Reasonable assurance is a high level of assurance, but does not guarantee detection of every instance.
Do you attend tax audit meetings on our behalf?
Yes, within the service scope and formal authorisation with the Income and Sales Tax Department. We explain the outcomes and obtain your approval before signing minutes or decisions on your behalf.
Do you follow up income and sales tax objections?
Yes. The agreed service includes preparing and filing an objection within the statutory period, discussions with the objection committee and responses through to its decision at the Department. We first review the decision and notification date.
What do you review before submitting a sales tax return?
We review the sales tax control account, recording and posting, sales, purchase and import documentation, input tax deductions and non-deductible tax and related adjustments where applicable.
How do internal and external audit differ?
External financial statement audit provides an independent opinion against the applicable reporting framework. Internal audit focuses on agreed processes, risks and controls and provides findings and improvement recommendations.
Can bookkeeping and external audit be combined for the same company?
Each engagement is assessed against independence requirements, professional rules and the entity’s circumstances. A bookkeeping provider cannot automatically be assumed eligible to audit the same records; the permitted scope is clarified after assessment.
How are fees and document requirements determined?
Fees depend on the service, transaction volume, periods covered, state of the records and follow-up required. We discuss your needs first and provide a proposal setting out the scope, fees and requirements.
Can you help with budgets and cash flow forecasts?
Yes. We help prepare budgets and forecasts and analyse performance using management-approved data and assumptions. Forecasts support planning and should be reviewed as circumstances or assumptions change.
Where is the office and how can we get started?
Khalda Design Center Complex, Khalda – Opposite the English Schools, Amer Bin Malik Street, Building No. 30, Second Floor, Amman, Jordan, Postal Code: 11821, P.O. Box: 3138. Contact us by phone, WhatsApp or email to arrange a meeting and discuss the service.
Does every company in Jordan need an external auditor?
Audit obligations depend on the company’s legal form and the applicable corporate and regulatory requirements. We review the entity’s registration and circumstances before confirming the required audit scope.
What documents are required for an annual audit?
Initial documents usually include the trial balance, general ledger, draft financial statements, bank statements and reconciliations, receivable and payable schedules, inventory and fixed asset records, and relevant contracts. We provide a tailored request list after understanding the business.
What is required to start an accounting engagement?
We start with company registration information, opening balances or prior financial statements, bank records, invoices, payroll data and access to the agreed accounting system. We then agree the scope, responsibilities, document exchange and reporting timetable.
How long does a typical audit engagement take?
Timing depends on the size and complexity of the business, the completeness of records, required confirmations and the availability of management. We agree an estimated timetable after the initial review and update it as the work progresses.
Your next step starts with a conversation.
Get in touch to discuss the right service and the scope of work.
