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Financial Systems

Financial Systems and Performance Development Services (FSPDS)

Through our Financial Systems and Performance Development Services (FSPDS), United Accountants assist companies in enhancing the efficiency and effectiveness of their processes, policies, and procedures.

Our goal is to mitigate risk, improve performance, and achieve sustainable value growth.

We support organizations in minimizing risk and enhancing performance by identifying and implementing relevant improvement opportunities.

The services offered by our FSPDS function are summarized in the following areas:

Financial and control regulations

Setting, developing, implementing and assessing the Financial and control regulations:

  • Financial regulation.
  • Regulation organizing the contracts with suppliers, contractors, and services providers.
  • Regulation organizing the inventory.
  • Sales and marketing regulation.
  • Financial and administrative authorities’ regulation (Matrix).

Performance Development is a flexible and consistent methodology used to assist clients in project development, such as process re-engineering or adopting new processes, through a policies and procedures manual.

Our performance development experts study the core, sub, and support processes, identify risk problem areas, and then produce re-engineered or adopted new processes that include controls to mitigate these risks.

Policies and Procedures Manual Contents

The policies and procedures manual includes the following documentation:

  • Process Summary Map
  • Organizational Process Map
  • Process summary (including objectives, KPIs, Input, Output, and related process)
  • Defined Risks and Related Controls
  • Defined Required Documents, Registers, and Reports Financial and control regulations Policies and procedures manual
  • Process Documentation Risk Controls Matrix
  • Process Departmental Flow Chart (Swim Lanes for Functions)
  • Process Documentation Flow Chart
  • Provide technical support to management to develop strategy and business plan.
  • Technical support in the preparation of development of financial performance plan of the company.

United Accountants teams assist clients by conducting a comprehensive study of their financial position and operational efficiency. The primary goals of this analysis are:

  1. Maximize Asset Return: Determine the client’s ability to effectively utilize both fixed and current assets to achieve the maximum possible return from their management.
  2. Ensure Compliance: Assess the client’s ability to meet all obligations, both internal and external.
  3. Evaluate Economic Efficiency: Study the client’s revenue and costs to determine the economic efficiency of the entire operation.

Detailed Scope of Financial Review

The financial position is studied by analyzing the following key areas:

  • Financial Structure & Risk: The Company’s financial position, including assets, liabilities, and equity structure, is reviewed to identify financial, administrative, and organizational risks.
  • Operational Performance: The main activities are assessed, including sources of revenue, cost elements, and general and administrative expenses.
  • Financing: An examination of the company’s financing structure.
  • Investment & Asset Management: Evaluating the company’s efficiency in investment and asset usage.
  • Profitability: Reviewing the company’s operating results and its ability to achieve profits.
  • Cash Flow & Working Capital: Assessing the company’s cash position and the efficiency of working capital management.
  • Strategic Alignment: Evaluating current projects and the plan for achieving operational objectives.
  • Accounting Compliance: Reviewing the accounting policies applied and their consistency with Egyptian Accounting Standards.
  • Budgetary Control: Analysis of any budget deviations.

Globalization is driving the need for IFRS, which can help deliver improvements in the efficiency of financial reporting and facilitate the global flow of investment. More than 120 nations are now requiring IFRS reporting for all domestic listed companies and dozens more are on the path to either full acceptance or – at the very least – dual compliance

Global experience shows that first-time adoption of IFRS means a significant challenge for the affected company. IFRS conversion is usually more than an accounting exercise – it has an impact on the entire organization including systems, processes and even business models. AAS professionals have a well-established track record of successfully delivering and managing complex, global, large-scale IFRS conversion projects.

United Accountants can assist your organization to convert from the current primary accounting standard to International Financial Reporting Standards (IFRS), or any other accounting standard.

  • Provide technical support to management to prepare Consolidated Financial statements.
  • Training courses on the preparation of Consolidated Financial statements.