Monthly Review of Accounting System
The accounting system is a neat representation of the cash-in and cash-out design with the inclusion of necessary expenditures and profits. Monthly account review is conducted by, first of all, assigning a reviewer (generally internal) followed by provision of all the books and ledgers with accurate daily entries. Another important aspect of it is to resolve the prior month’s errors and present a rectified data for further processing.
The reviewer is responsible to check that all the transactions are:
- In accordance with the purpose of the respective account
- Following the regulation protocols of the said account
- Correctly entered in monetary terms
- Properly classified for the corresponding accounts
- Full-proofed with legitimate documents and receipts
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The EXL auditing team operates in league with the best financial services audit Dubai to provide monthly financial reports and their reviewing so that the company always has a compiled and liege data for various purposes like unscheduled audits, federal research projects, agency accountability, and much more.