KPMG Fakhro, one of the service providers for Bahrain labour fund Tamkeen’s ”Mohasaba” programme, said it has achieved a significant milestone of serving more than 400 small and medium enterprises (SMEs) in Bahrain since the beginning of the programme in January 2010.

 

As per this leading programme, beneficiaries pay only BD250 out of BD1,500 ($659 out of $3956) for a two-year audit service or BD250 out of BD3,000 for an accounting service for two years, with the balance subsidised by Tamkeen.

 

The accounting beneficiaries also receive a grant of BD300 from Tamkeen to purchase modern accounting software, said a statement from KPMG Fakhro.

 

"Mohasabha” aims to enable enterprises in Bahrain to implement world-class accounting practices and financial management systems. The programme provides enterprises a full range of solutions to analyse their financial position and performance, in addition to creating and strengthening their financial reporting and documentation systems and processes. 

 

'Mohasaba' is open to all enterprises in Bahrain which have not been previously audited, the statement added.  

 

Tamkeen’s private sector support senior manager Mohammed Bucheery pointed out that the benefits of Mohasaba were invaluable to enterprises. 

 

"By enabling SMEs to access high-quality independent audits and accounting services, they are able to benefit from other Tamkeen-supported programmes, be in a much better position to make informed business decisions, obtain financing from banks and financial institutions, participate in large tenders, and tie up with foreign partners to expand their businesses," he noted.

 

Harish Gopinath, the partner Audit & Advisory, and head of Middle Markets for Middle East and South Asia, KPMG Fakhro, said, “Under the leadership of Jamal Fakhro, KPMG’s managing partner, the team has been able to recognise the important role that SMEs play in the economy and align our services to meet the challenging demands of this vital sector."

 

"With the generous support from Tamkeen, we have succeeded in providing high-quality auditing and accounting services to a large number of SMEs,” he added.-TradeArabia News Service