World-Class Accounting Solutions

One of the leading financial advisory firms in the region, Muhammad Rizwan Khadim and Haris Javaid, Partners at ebs Chartered Accountants talk about the quality service and tailor-made solutions provided by the company

ebs Chartered Accountants is an accounting and auditing company that takes pride in being one of the frontline cross border financial advisory firms serving a large clientele base. Based in Dubai since 2017 and focusing on Small Medium Enterprises (SMEs) in the UAE, the company also facilitates multi-national corporations, family-owned businesses, startups, and high net worth individuals. ebs Chartered Accountants service portfolio includes global mobility solutions, corporate advisory, tax advisory, accounting services, private client and family advisory, outsourcing solutions, and digital transformation. “All our chartered accountants are with big four audit firm experience, providing high-end services to SMEs with competitive fees. Our core focus is on accounting and bookkeeping in the UAE with the help of accounting systems to transform clients into more robust and online procedures for their accounting. We are also registered auditors in all freezones and banks of the UAE,” said Muhammad Rizwan Khadim, Partner at ebs Chartered Accountants. “ebs Chartered Accountants also provides external auditing, internal auditing, business plan writing service, CFO service, accountant on secondment, ICV certification, VAT training in addition to all other financial services,” said Haris Javaid, Partner at ebs Chartered Accountants.

Overcoming challenges

Talking about facing obstacles during its initial years, Khadim said: “ebs Chartered Accountants was established in 2017 around the time when VAT was just about to be launched in the UAE. As everyone was not aware of the laws during those days, we had issues in explaining and handling client expectations for VAT. Our team was quick to adapt to the dynamic changes of the market and made several different strategies to handle VAT.”

The company’s bookkeeping packages include all the requirements of having to outsource the accountants with dedicated account manager available throughout the week. The challenge was to ensure the communication and lack of having accountant readily available in the client office. “We overcame this issue through the help of IT, where the client does not face any issue with communication, meetings or presentations as everything can be done online,” said Javaid.

Shining through

In a highly competitive field, ebs Chartered Accountants has been able to stand out from its competitors on the basis of its performance that continues to win clients. “We provide solutions and not just services. We identify the issues faced by the clients and draft policies to automate the process with the use of IT, which in turn reduces the client cost and resource allocation,” said Khadim. The company is a pioneer in accounting and bookkeeping for small businesses. “Our edge is that we not only do bookkeeping, but also prepare policies and procedures for new business who are not sure of their accounting needs, creating synergy between our accountants and their team, to guarantee that the management receives all kinds of accounting reports they need to make decisions. We also cater to different KPI reports as per the management’s choice, which also becomes part of the monthly accounting report,” added Javaid.

Adapting to trends

Speaking about the role of technology in ebs Chartered Accountants and the steps taken by the company to stay in-line with the frequently changing trends, Khadim said: “One of the differentiators between us and our competitors is that we heavily rely on our IT infrastructure to deliver services. When Covid-19 hit, everyone was working to shift their work from home but we were ready. Our accountants can work and are available from anywhere in the UAE, which is only possible with the help of the IT infrastructure. The right use of technology has saved a lot of cost for ebs Chartered Accountants.”

He went on to say that the company has always strived for automation, thus looking out for new software/technology is a constant process. “In these rapidly changing times, adoption of new technology is a necessity for any business. Our expert IT team keeps us abreast of the changing trends so we can devise our strategy to go with the flow,” added Javaid.

Key milestones

ebs Chartered Accountants is an ACCA approved employer, which trains and develops new chartered accountants in relevant fields. It has also been awarded as a Top Accounting Company in the UAE by Clutch and also by Manifest. The company is an Advanced Partner of ZOHO in the region and has managed to gain customers from various industries and different regions in the UAE through the help of its experienced staff. A testament to the company’s continued success is the fact that it has also branched out into other markets, including the UK and Pakistan.

The road ahead

Looking at the future plans of the company, Javaid said: “We want to provide all SME’s a chance to experience working with a ‘Big Four’ firm accounting with the price tag of a small business. Most businesses fail not because of lack of capital, but due to incorrect and incomplete books, which prevent the management from making quick decisions in rapidly changing times.”

“ebs Chartered Accountants will play a vital role for the SME market in the UAE, once the corporate tax in the UAE is implemented. The company is in the process of finalising its corporate tax team, which will be focused on complying the client’s books with the Federal Tax Authority (FTA) laws,” said Khadim, adding that the company will soon be expanding to other regions by establishing branches.

For more information, visit: www.ebs.ae