Accounting firms play a vital role in the financial and administrative management of businesses in Morocco. Here is an overview of the main roles and missions of a Moroccan accounting firm:
Bookkeeping and Financial Monitoring:
Accounting firms handle the management of a company’s accounts, ensuring that all financial transactions are accurately recorded. They prepare accounting books, monitor expenses and revenues, and ensure compliance with applicable accounting standards.
Tax and Social Advisory:
Accounting firms advise businesses on the best tax practices to minimize their liabilities while staying compliant with Moroccan laws. They also assist companies in managing annual tax declarations, such as Corporate Income Tax (IS) and Value Added Tax (VAT).
Preparation of Financial Statements:
Accounting firms are responsible for preparing the company’s financial statements, including the balance sheet, income statement, and notes. These documents are essential for assessing the financial health of a business and are often required by banks or investors.
Legal and Administrative Support:
Accounting firms can also support businesses with administrative procedures, such as company formation, declaration formalities, and drafting legal documents like company bylaws.
Financial Audit and Internal Control:
Accounting firms conduct financial audits to ensure the transparency and reliability of a company’s accounts. They help identify potential errors, prevent fraud, and improve internal control.
