Excellence through integrity
ACWA Power Group – Compilation of Financial Statements
September 20, 2024
About TAG Consulting
TAG Consulting is a leading provider of financial modeling, reporting, and auditing services, offering tailored solutions to companies in the energy and utilities sectors. Our mission is to streamline your financial processes, ensuring compliance and strategic insights, no matter the complexity of your portfolio. With an extensive presence across the Middle East, we specialize in serving multinational conglomerates like ACWA Power.
Challenge Faced by the Client
- ACWA Power required compilation of standalone and consolidated financial statements for numerous entities, including holding, project, and associate companies.
- The client needed the financial statements to adhere to international standards and be prepared within stringent deadlines for external audit purposes.
- The scope extended across KSA and International portfolios including countries like the UAE, Bahrain, and Oman, creating additional layers of complexity in handling diverse regulations and compliance standards.
How We Resolved It
- Financial Modeling Experts at TAG Consulting worked closely with ACWA Power’s in-house teams to compile accurate and timely financial statements.
- We implemented a structured approach to streamline data consolidation across multiple regions and entities while ensuring adherence to international financial reporting standards (IFRS).
- Custom reporting tools were developed to handle the consolidation of the Kingdom of Saudi Arabia (KSA) and international entities seamlessly, mitigating risks of data inconsistencies and delays.
What We Did
At TAG Consulting, we bring industry-specific expertise and a deep understanding of financial reporting. For ACWA Power, our team tailored their approach to meet complex financial consolidation challenges across multiple jurisdictions, ensuring compliance with both regional and international standards. Our bespoke financial services have helped power giants like ACWA optimize their financial transparency while maintaining operational efficiency across various global markets.
Results & Deliverables
- Delivered consolidated financial statements for both KSA and International Portfolios on time, meeting all external audit requirements.
- The client saw an improvement in the accuracy and transparency of their financial reporting, crucial for their investor relations and operational strategy.
- ACWA Power expressed satisfaction with the timeliness, attention to detail, and technical expertise that TAG Consulting brought to the table, helping them meet audit deadlines effortlessly.
Our Services
We specialize in delivering customized solutions that meet the unique needs of our clients.
01
Trainings & Skills Development
TAG Management Consulting’s Skills Development Services offer comprehensive training programs designed to enhance the skills and capabilities of your workforce. Our programs cover a wide range of topics, from technical skills to leadership development, ensuring that your team is equipped to meet the challenges of today’s business environment.
02
Business Intelligence & Financial Services
TAG Management Consulting’s Financial Modelling Services provide businesses with detailed financial models that support strategic planning, investment analysis, and decision-making. Our models are designed to be flexible, accurate, and aligned with your business goals.
03
Business Assurance & Risk Management
Maintain the integrity of your business with our Business Assurance Services. We provide internal audits, financial reporting, operational reviews, and compliance checks to ensure that your business adheres to the highest standards of accountability and transparency.
04
Business Performance Optimization
TAG Management Consulting’s Data Analytics Services help businesses harness the power of data to make informed decisions, improve performance, and drive growth. Our data analytics solutions are tailored to meet the unique needs of each business, providing actionable insights that support strategic decision-making.
05
VAT Consultancy
TAG Management Consulting’s Foreign Investment Advisory Services are designed to support businesses in making informed decisions about cross-border investments. We offer tailored advice on navigating international regulations, assessing market opportunities, and mitigating investment risks.
06
Business Process Outsourcing (BPO)
Streamline your operations with our Business Process Outsourcing services. We manage general accounting, payroll management, HR outsourcing, and account reconciliation, allowing you to focus on your core business while we ensure efficiency and compliance.
07
Staff Secondment & 3PC
Ensure seamless operations with our Corporate Secretarial Services. We assist with company incorporation, regulatory compliance, corporate restructuring, and secretarial practices. Our services are tailored to help businesses navigate legal and administrative challenges effectively.
08
Fixed Assets Management
Safeguard and optimize your assets with our Fixed Asset Management solutions. Our services include physical verification, asset tagging, automation of asset management systems, and the maintenance of an accurate asset register. Protect your investments with our comprehensive management services.
09
Financial Advisory & Management Consultancy
Discover the full potential of your business with our expert financial advisory services. We offer financial feasibility studies, due diligence reviews, professional advice, and strategic financial planning. Whether you're navigating complex transactions or seeking guidance on investment strategies, our services are tailored to meet your unique needs.
Our Blogs & News
Lorem ipsum dolor sit amet consectetur. Habitasse non eu in odio faucibus at. In eu vivamus ac suscipit diam feugiat eu blandit in. Amet eget nulla eleifend dignissim morbi. Sed ultricies integer quis elit donec egestas vulputate.
November 8, 2024
Demystifying Tax Residency Certificate in the UAE Copy
The United Arab Emirates (UAE) has emerged as a global hub for business and entrepreneurship, attracting ambitious individuals from around the world. With its strategic location, thriving economy, favorable tax regulations, and business-friendly environment.
November 8, 2024
Demystifying Tax Residency Certificate in the UAE Copy
The United Arab Emirates (UAE) has emerged as a global hub for business and entrepreneurship, attracting ambitious individuals from around the world. With its strategic location, thriving economy, favorable tax regulations, and business-friendly environment.
November 8, 2024
Demystifying Tax Residency Certificate in the UAE Copy
The United Arab Emirates (UAE) has emerged as a global hub for business and entrepreneurship, attracting ambitious individuals from around the world. With its strategic location, thriving economy, favorable tax regulations, and business-friendly environment.
Clients Testimonial
TAG Management Consulting has been in the service sector for over a decade and has served some of the most renowned brand names of world over.
"The tailored financial advisory services offered by TAG have greatly improved our decision-making processes. Their expertise in VAT consultancy and compliance has been a critical factor in our operational success."
DP World
"TAG’s business assurance services have been instrumental in improving our risk management framework. Their deep industry knowledge and ability to offer practical solutions have elevated our operational standards."
Sharjah Electricity & Water Authority (SEWA)
"TAG’s ability to provide tailored accounting solutions streamlined our processes, allowing us to focus on key growth areas. Their support has been invaluable to our financial management team."
Etihad Airways
"TAG Management Consulting’s comprehensive audit services have helped us maintain compliance with stringent regulations while enhancing operational efficiency. Their team’s professionalism and attention to detail are truly commendable."
Dubai Islamic Bank
"TAG’s expertise in financial and operational reporting has been an asset to our operations. Their ability to provide detailed insights while ensuring accuracy in accounting processes has significantly improved our financial transparency."
Al Futtaim Group
"The staff secondment services provided by TAG were exactly what we needed to support our Accounting and Finance department. Their qualified professionals seamlessly integrated into our team, helping us meet critical project deadlines with ease."
Al Jomia Energy & Water
"TAG’s work in re-evaluating and upgrading our budgeting models provided us with enhanced clarity and efficiency. Their efforts in automating our accounting systems were invaluable, streamlining our operations and preparing us for future growth."
Engineering Associates
"TAG’s re-evaluation of our budgeting models and their upgrade of our accounting systems were a game changer. They provided a holistic view of our business, helping us to strengthen our offshore market share and improve internal operations."
Al Ain Mineral Water Company (P.J.S.C.)
"TAG's financial feasibility study for our agricultural investment project in Pakistan was critical to our decision-making process. Their financial modeling and projections gave us a clear understanding of the potential outcomes, making it easier to move forward with confidence."
Madar Holding
"TAG’s recruitment support was impeccable. From advertising to shortlisting and interviewing, they provided top-tier candidates that perfectly matched our requirements. Their hands-on approach ensured we secured the best talent for our needs."
Emirates Foodstuff and Mineral Water Company (AGTHIA)
"The expertise of TAG’s team, particularly in staffing our Finance & Accounting division during critical times, was instrumental. They perfectly complemented our knowledge base and provided much-needed support for the ERP implementation. Their professional support has been invaluable for our operations."
Agthia Group
TAG’s accounting and bookkeeping outsourcing services were nothing short of exceptional. Their attention to detail, combined with their knowledge of US-GAAP and IFRS, ensured that our quarterly and annual financial statements were accurate and timely. They’re a valuable partner for any accounting needs."
AIG Memsa Holdings
"TAG's professional staff deputation was key in balancing our Finance & Accounting division’s workload. Their expertise, especially in SOX compliance, ensured a smooth and effective implementation process, exceeding our expectations."
Al-Dahra Agricultural Company U.A.E
"TAG’s commitment to excellence was evident in their work on our HR and Operations Manuals. Their attention to detail ensured alignment with our corporate policies, setting the foundation for improved efficiency across all our divisions. We were impressed with their thorough evaluation of our Environmental Services Division as well, which provided crucial insights for operational improvements."
AIMS Group L.L.C.
"TAG Management Consulting demonstrated exceptional professionalism in compiling our financial statements across various entities, ensuring timely delivery for external audits. Their deep understanding of both local and international portfolios made the process seamless and highly efficient. We highly recommend their services for financial management needs."
ACWA Power Group
Frequently Asked Question
How can TAG Consulting improve Operational Excellence in my business?
What sets TAG Consulting’s Power BI Consulting apart?
How does TAG Consulting support Corporate Secretarial Services?
What makes TAG Consulting a leader in Strategic Planning?
Can TAG Consulting assist with IT Consultancy and Cybersecurity?
How does TAG Consulting approach Skill Development in UAE?
What is included in TAG Consulting’s Risk Management and Compliance services?
How can TAG Consulting help with Financial Modeling in UAE?
What are the benefits of Business Process Outsourcing (BPO) with TAG Consulting?
What industries does TAG Consulting serve in the UAE?
Stay Updated with Expert !
Subscribe to our newsletter and be the first to receive the latest industry trends, business tips, and exclusive updates from TAG Management Consulting. Empower your business with valuable knowledge and stay ahead in your industry.