Accounting and Audit Support for Companies Operating in Iraq

We maintain or reconstruct the accounting records so that each material tax adjustment has a schedule behind it: related-party transactions, accruals and provisions, fixed-asset additions and depreciation, and revenue recognised across contract milestones. The test we apply is whether an examiner can trace a figure from the return to a ledger account and then to a source document without asking a question.

Where historical records are incomplete, the reconstruction starts from bank statements, contracts, invoices and payroll registers, and the resulting opening position is documented so later periods are built on a stated basis rather than an assumption.

For statutory audits, we prepare the schedules auditors request, reconcile the trial balance to the financial statements, and manage the query list so that evidence reaches the auditor once rather than in fragments. For group audits, we align the local file to the reporting pack the parent's auditor uses, including any mapping to group accounting policies.

Our role is support, not the statutory opinion itself: the audit is performed and signed by the licensed auditor, and we make sure the file presented to that auditor is complete and consistent.

Three reconciliations catch most problems before an inspection does: profit per accounts to taxable profit, payroll register to Social Security declarations, and withholding register to deposits with the Commission. We run them each close and keep the signed reconciliations in the file.