Smartfor Accounting and Auditing
العربية

Our services

Smart for Accounting and Auditing provides an integrated range of professional services, supervised directly by the two founding partners, each carried out in accordance with international standards and the Lebanese legislation in force.

Internal audit

The internal audit service is built on regular periodic visits, their frequency set according to the size of the organisation and the nature of its activity. Each visit reviews financial operations and the soundness of accounting treatments, and their conformity with the International Financial Reporting Standards (IFRS) and the tax legislation in force.

This ongoing review allows findings to be resolved as they arise rather than accumulating until the financial year end, and ensures the financial statements are ready when the books are closed.

Scope of service

  • Review of accounting entries and their supporting documentation
  • Assessment of internal control systems, segregation of duties, and approval authorities
  • Review of cash, bank, receivable, payable, and inventory accounts
  • Verification of payroll, tax, and social security contribution calculations
  • A periodic report to management setting out findings and recommendations

External audit

We audit the annual financial statements independently in accordance with the International Standards on Auditing (ISA), and issue a report setting out our professional opinion on whether those statements are fairly presented under the International Financial Reporting Standards.

The report is relied upon by shareholders, partners, banks, investors, and official authorities, and satisfies the requirement to appoint a statutory auditor in companies legally bound to do so.

In external audit engagements we observe the independence requirements set out in the professional code of conduct.

The engagement produces three outputs

  • The audited financial statements with their notes
  • The auditor’s report
  • A management letter setting out the principal findings

Tax and social security

SMART manages organisations’ tax and social security obligations on an integrated basis. This covers calculation and preparation of returns, then their submission and follow-up with the Ministry of Finance and the National Social Security Fund, ensuring statutory deadlines are met.

Scope of service

  • Income tax: preparation of the annual return and the financial statements attached to it, on the approved forms
  • Value added tax: calculation, and preparation and submission of periodic returns
  • Payroll tax: calculation of tax withheld, and periodic and annual returns
  • Social security: registration of the organisation and its employees, returns, and calculation of contributions
  • Payment: settlement of taxes and contributions under the client’s authorisation, with official receipts provided

Company formation

The choice of legal form is among the most consequential decisions at the start of any activity, given its effects on partners’ liability, tax obligations, and operating cost.

We provide integrated advice in this area across four stages:

Stages of the work

  1. Eligibility review: verifying the founders’ eligibility and the requirements of the activity
  2. Determining the legal form: selecting the most suitable among sole proprietorship, limited liability company, joint-stock company, partnerships, and offshore and holding companies
  3. Incorporation file: preparing the documents and following through the registration procedures
  4. Launch: setting up the accounting system to ensure a sound start from the first day

Feasibility studies

A feasibility study is the essential decision tool before committing to any investment. We prepare integrated studies for new projects and expansion plans, grounded in realistic analysis and drafted to meet the requirements of investors, banks, and funding bodies.

Scope of the study

  • Market study: demand, competition, and pricing
  • Technical and operational study: location, equipment, and human resources
  • Financial study: investment and operating cost, projected cash flows, break-even point, payback period, net present value (NPV), and internal rate of return (IRR)
  • Sensitivity analysis: the effect of changes in key assumptions on the results