Company Profile

History

Background 1981 - 2008

The Al Ghaith family is an old and well-respected name in the United Arab Emirates where the family members have several business and professional activities. Formed in 1981 by the late Khalaf Saeed Al Ghaith, the firm has grown from strength to strength. In 2008, it is recognised as one of the leading firms in Dubai and its membership of MSI Global Alliance ensures that Al Ghaith & Co is probably the only 100% locally owned accounting firm with such a wide international exposure.

MSI Global Alliance, an international association of independent legal and accounting firms, is represented in nearly 100 countries and has its secretariat in London. With this link, our Dubai-based clients have been able to receive international assistance in many areas, actual examples of which include:

* offshore incorporation in the Isle of Man
* debt recovery in Belgium
* financial investigation report for the Australian government
* liaison report for the Dutch Customs Authority
* financial investment advice in UK

Notwithstanding this international support, Al Ghaith & Co is primarily concerned with audit and accounting work for its clients within UAE. The client mix is roughly 7:3 local to international organisations whilst the client base comprises some of the leading families in Dubai.

For the past twenty-seven years - and as one of the oldest accounting companies in Dubai - Al Ghaith & Co has had a proud tradition of employing high levels of professional and ethical standards. The firm believes that such standards must be maintained if both Al Ghaith & Co and the accountancy profession in UAE are to gain the confidence and respect of both the local and international business communities.

In the absence of any local guidelines, Al Ghaith & Co has always operated under international accounting standards and has maintained an enviable reputation for its fair and impartial advice.

The professional background of its staff gives Al Ghaith & Co the experience necessary to undertake any task given by a client in those areas normally associated with public accountants.

Al Ghaith & Co has always been seen to provide personalised service in addition to work that is of the highest quality but at the same time very cost effective. This is mainly due to the fact that office overheads are a lot lower than most other international accounting firms.

Auditing

A properly conducted audit adds value to a client’s business on several fronts and there are compelling reasons for any company to undertake the audit process.

Financial history is littered with cases of major fraud and defalcation that occur across the economic spectrum. Our function, as auditors, is not specifically designed to cover deliberate fraud but the very nature of the work, applied in a responsible and professional manner, should highlight the points of weaknesses where fraud may be perpetrated.

An audit provides an independent check on an entity’s internal controls and, at the same time, ensures their effectiveness. The updating of these controls is usually overlooked as an organisation expands its operations. However, the audit function reviews the adequacy of controls in the current situation and, as such, Al Ghaith & Co are usually in a position to report, in writing, of details of weaknesses together with their recommendations to correct them.

The importance of an independent audit in smaller entities is very important so that any mistrust or misunderstanding between parties can be rectified and a “comfort factor” can be given to owners.

Formal audits are mandatory for LLC companies and on shore companies in Jebel Ali. Furthermore official audits are often required by financial institutions to further banking arrangements. Al Ghaith & Co is registered with both the Department for Economic Affairs and the Jebel Ali Free Zone to carry out all types of audit.

Accounting

The services offered by the firm are in line with those expected of an international organisation but because of its comparatively small size it has been able to offer these services on a more personalised basis and, with its much lower overheads, at a more cost effective level.

Al Ghaith & Co can offer very comprehensive assistance covering a wide area including some of those items that may be of particular interest to clients:

* preparation of annual accounts from the underlying records for audit or other purposes
* use of temporary accounting staff when the client has an insufficient capacity and / or expertise
* preparation of monthly accounts for small businesses from basic records
* assistance in writing up books of account either on a regular or periodic basis
* maintenance of a complete accounting system if so required
* feasibility studies of any size or description
* cash flow forecasts
* goodwill evaluations
* preparation of budgets and forecasts for any company
* company formations and prospectus
* liquidations and bankruptcy
* accounting systems advice
* taxation
* financial planning advice

Training

Any organisation has to have training as part of its core business strategy and many studies have indicated that training is the best weapon in the management armory to boost any entity’s performance.

What the market has been lacking is a training company, manned by professionals, which targets each individual company’s needs rather than blanketing all the needs of all the companies under one umbrella.

Al Ghaith & Co is now an equity partner in Spearhead Gulf LLC which opened its Dubai office in 1998. This firm is an offshoot of one of the leading UK training companies and offers both open courses and in company training. Indeed most of their planned work here is preparing and delivering courses exclusively for the personnel of individual companies. Unlike similar companies, Spearhead Training can call upon both local and international trainers to satisfy clients’ requirements.

Details of their operations are available for your perusal and it is hoped that they can meet your company’s training requirements.

Recruitment

Al Ghaith & Co has always recruited for clients but as the demand for this service has grown, it has been decided to establish a separate Recruitment Division.

The firm has ties with a major recruitment company in Australia, John Davidson & Associates. The strategy will be to concentrate at the top end of the market dealing exclusively in executive appointments. A professional team based in Dubai, together with our international links, bodes well for the future of this division.

Miscellaneous

Company Secretarial Services

With the 1993 introduction of the Code of Commercial Practice, the increase in numbers of LLCs and the ever-growing sophistication of UAE business, Al Ghaith & Co can offer clients such services as maintenance and filing of statutory returns and assurance that all legal requirements are being met. Staff members include an Associate of the Institute of Chartered Secretaries.

Computer Bureau Services

The last decade has seen an explosion in the use of electronic data processing and indeed many organisations are now fully computerised. Al Ghaith & Co is able to offer services in the following areas:

* advice on evaluating , developing and installing computer systems
* advice on which hardware and software are best suited to company’s needs
* advice on the suitability of computer applications to businesses
* one-off computer applications such as business modeling and cash flow forecasts
* a computer bureau to maintain all of an organisation’s accounting records

Community Service

As a responsible corporate citizen, Al Ghaith & Co offers free career advice and is actively involved in tertiary education. Other services are offered on an ad hoc basis but the firm will usually offer honorary assistance to most charitable or non-profit making organisations. The company is a member and Honorary Auditor of the Australian Business Council (ABC) and is a member of the British Business Group (BBG).

Staff

Any company is only as good as its staff and Al Ghaith & Co is particularly fortunate in having operational and support staff of the highest calibre. The firm has always insisted on operating to the highest professional standards and sought the right staff to carry this out. Staff training is given a high priority.

Philosophy

When the late Khalaf Saeed Al Ghaith founded the company in 1981 his aim was to provide a first class service based on mutual trust, integrity and the highest professional standards. His ideals live on and Al Ghaith & Co is committed more than ever to provide its clients with a one stop accounting and commercial advice centre with a personal touch that is cost effective and second to none.


A Member of MSI Global Alliance

Secretariat 147–149 Temple Chambers 37 Temple Ave London EC4Y 0DA

Tel 0044 20 7583 7000 Fax 0044 20 7583 7577
email secretariat@msiglobal.org Web msiglobal.org

MSI Global Alliance has offices in:

Argentina                    Ecuador                      Kuwait                       Puerto Rico   

Australia                     Egypt                          Lesotho                     Russia           

Austria                        El Salvador                  Liechtenstein             Saint Lucia    

Bahamas                    Estonia                       Luxembourg               Seychelles    

Bangladesh                 Finland                       Malaysia                    Singapore     

Barbados                    France                        Malta                         South Africa  

Belgium                      Germany                     Mauritius                    Spain 

Bermuda                    Gibraltar                       Mexico                       Sweden         

Botswana                   Greece                        Monaco                       Switzerland   

Brazil                          Guatemala                  Netherlands                 Taiwan           

British Virgin Islands    Guernsey                    Netherlands Antilles     Thailand

Canada                        Hong Kong                 Nevis & St Kitts           Tunisia           

Cayman Islands           Hungary                      New Zealand                Turkey

Chile                           India                            Norway                      UAE   

China                          Indonesia                     Oman                          UK      

Colombia                     Ireland                        Pakistan                      Uruguay         

Costa Rica                   Isle of Man                  Panama                       USA   

Cyprus                        Italy                             Peru                            Venezuela     

Czech Republic            Japan                         Philippines                    Zambia          

Denmark                      Jersey                         Poland                         Zimbabwe     

In association with John Davidson & Associates (JDA)

Head Office                                                       PO Box 5178 Brendale Queensland 4500 Australia

                                                                        Tel 0061 73205 5977  

                                                            Fax 0061 73881 2456

                                                                        email  jda@powerup.com.au

                                                                        www.jda.com.au

JDA associate offices can be found in the following countries:

Australia         Hong Kong     Papua New Guinea  Taiwan           

China              Indonesia       Singapore                  UK      

In association with Spearhead Training

Gulf Office                                                         PO Box 32329 Dubai          

                                                            Tel 3362552 

                                                            Fax 3362995

                                                                        email spearhed@emirates.net.ae

                                                                        www: spearhead-training.com

Al Ghaith & Co Contacts:

Senior Staff

Tim Howe                               Managing Director      050 625 5301                       

Shabbir Jhabuawala                 Audit Manager           050 659 5279                       

Constancio Noronha                Senior Auditor           050 658 6281                       

            PO Box 8293  Dubai  UAE 

Tel 398 8575

Fax 398 8595

email agcmsi@emirates.net.ae

Location Al Hana Centre Satwa Dubai

Although every reasonable effort has been made to ensure the accuracy of the information contained in this Newsletter, no individual or organisation involved in its preparation accepts any liability whatsoever for its contents or for any consequence arising from its use. This Newsletter is produced solely for client information and the information contained therein should be regarded as confidential and not be made available to any person without our prior approval.