Tax & Law Services
- About Our Global Tax Services
- Country Tax Advisory
- Cross Border Tax Advisory
- Global Trade
- Global Compliance and Reporting
- People Advisory Services
- Private Client Services
- Tax Accounting
- Tax Performance Advisory
- Tax Policy and Controversy
- Transaction Tax
- Transfer Pricing and Operating Model Effectiveness
- VAT, GST and Other Sales Taxes
Accounting compliance and reporting
"Choose the right path and keep going"
Tax compliance, financial reporting and tax accounting in the country of presence make huge demands on tax and finance functions, chief accountant in particular. To reduce risks and inefficiencies and prevent significant costs, EY offers various models to support and communicate with clients through outsourcing of financial accounting functions::
1. Full-scope solution
For newly established companies
- Market research
- Initial set-up
- Regular services
We will support you in establishing an office in Kazakhstan and selecting the most tax-efficient organizational structure. After that, we will carry out all supporting functions as your outsourcing partner, so that you can focus on your core business goals.
For mature companies
We will provide support in your day-to-day operations as your outsourcing partner (all services).
2. Package solution
Several supporting services are available. Example: outsourcing of financial and tax accounting functions, and/or payroll and HR administration, etc.
3. Ad hoc solution: one or more services at your selection
Scope of services
- Initial set-up
- Maintenance of accounting records
- Corporate reporting
- Other services upon request
1. Agree on a structured process for our communication and deadlines for deliverables (information and documents), and define EY's and the client’s responsibilities
2. Draft financial accounting policies
3. Customize financial and tax accounting software (1С), including:
- Setting up the system in accordance with the client's accounting needs
- Entering opening balances for accounts (if applicable)
- Adjusting analytical accounting
- Connecting to the Client-Bank system to prepare payment orders (if applicable)
- Registering with the electronic reporting system
- Designing corporate reporting templates
- Other procedures required to begin operations and support the provision of services
- Collecting primary documents from suppliers and/or reviewing alignment of the entity’s primary documents with the register, processing/making records in the 1C local accounting system
- Preparing primary accounting documents (consignment notes, acceptance certificates, reconciliation acts, fixed assets write-off acts and inventory acts)
- Drafting payment orders in the Client-Bank system and processing banking transactions in 1C
- Drafting employee expense reports (Form 1T)
- Quarterly reconciliations with clients and suppliers
- Monthly closing, including depreciation of deferred expenses, accrual of interest payable (if any), exchange differences write-off (revaluations, write-off of cash in transit), closure of income/expense accounts
- Calculating the entity's monthly financial performance indicators
- Preparing monthly trial balances on the basis of monthly transactions recorded in the accounting system
- Statistical reports: monthly/quarterly/annual
- Reports to the central bank: monthly/quarterly/annual
- Monthly financial statements
- IFRS annual financial statements
- Statement of financial position
- Statement of comprehensive income
- Statement of changes in equity
- Statement of cash flows
- Notes to financial statements
- Preparation and presentation of financial statements in accordance with the template approved at the setting up stage
- Preparation of monthly reconciliation acts to reconcile data from corporate accounting systems (SAP, Oracle, JDE, etc., and 1C)
- Communication with the client where issues arise or more detail is required
- Outsourcing of tax accounting functions
- Advisory Help Desk
- Outsourcing of payroll functions
- Outsourcing of HR Administration section
- HR advisory
- Migration services
- Legal services
- Tax advisory services
How does it work?
Accounting services are provided using the 1C accounting system. This is a licensed program on EY's protected Kazakhstan-based server. The client's staff may be granted remote access to the system to view files, export registers, reports or other documents.
The services are generally provided based on copies of primary documents and information supplied by the client. The client's authorized officer is in charge of collecting and scanning documents, and uploading them into 1C: Document Management. The system is a tool for storing and exchanging documents between the client and EY in the agreed manner and form. The originals of the primary documents are stored at the client's premises. This document management approach is convenient for the client, as it:
- Provides quick and easy shared access to the client's documents, helps prevent email overload with big files and keep track of documents within the huge mass of communications.
- Allows the client to keep storage of all the corporate documentation under direct control. The safe storage of documentation is the client’s primary responsibility. When a chief executive steps down, corporate accounting records must be handed over to the successor.
- Provides quick and easy access to original documents both to auditors or the authorities during audits.
- Ensures the timely transfer of control over accounting processes upon the completion of services / expiry of our engagement agreement. There is no need to provide a detailed description of the original documents that are being handed over. All documentation is stored at the client’s premises.
Benefits of working with EY
Entering into accounting outsourcing services agreement with EY is intended to eliminate difficulties, inconveniences and doubts arising upon organizing of the client's accounting function:
- The costs of hiring an employee, including utilities, office equipment, training, accounting programs and other software licenses, are covered by our fees.
- You no longer need to worry about who is able to replace your accountants when they are absent from work. We are always available!
- EY has a highly qualified team with deep expertise in tax, legal and business consulting, and broad experience working with companies in different industries. Our capabilities position us to rapidly respond to your complex business needs.
- Upon the completion of services / the termination of our engagement agreement, there will be no need to manage matters related to the dismissal of employees.
- We offer flexible pricing.