caliberthings

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https://ca-solutionsuae.com/accounts-outsourcing.html 

We are a specialized finance and accounting outsourcing service provider in Abu Dhabi. We provide services across UAE.

Finance and accounting is a developing trend among the middle market and high-growth organization, giving a cost-effective way for organizations to improve the finance and accounting function. The key advantages of outsourcing include fractional use of finance and accounting professionals, enhanced processes and technologies, and stronger compliance measures.

Many small businesses are not equipped with a complete accounting skill set and require bookkeeping services from external sources. Our experts are seasoned and can handle tasks like drafting financial statements, budget analysis, management reporting, etc. We use tracking and recording information in advanced accounting software accustomed to the client's specific needs.

Caliber gives tailormade solutions to its customers in account outsourcing. We will examine your propose and suggest the best outsourcing services for you along with the most cost-effective pricing model. You can likewise begin with a free trial, so you can evaluate us risk-free without investing anything from the start. Our Accounting outsourcing Services Packages assist you to grow your business with a standardized cost.

What Is The Accounting Outsourcing Services?

There are many outsourcing services along with the various kinds of accounting. The most common account 

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ADV Certification services in Abu Dhabi. We provide cost-effective financial services in Abu Dhabi, Dubai. A year after the Abu Dhabi National Oil Company’s “In-Country Value” Program (ICV) came into force, the Abu Dhabi Department of Economic Development has soft-launched its localization program (“Abu Dhabi Value Program” – ADV Certification Program). It should be noticed that ADV is the second localization program in the United Arab Emirates (UAE). Suppliers engaged in business with Abu Dhabi’s Government Departments will need to familiarize themselves with the ADV certification program keeping in view the significance which the government is putting on UAE’s economic growth and localization. 

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https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html

ICV certification services in Abu Dhabi. ADNOC, Aldar, Economic Department, Abu Dhabi Ports has launched an In-Country Value (ICV) program. The ICV certificate program aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector. An ICV certificate should be acquired for each legal entity. Having a set up as a local Abu Dhabi LLC UAE Company with a 51% investor will extend your ICV score, although it will be important to acquire the ICV report for the 51% shareholder to get the full advantage. This is where utilizing a corporate shareholder such as PRO Partner Group can help. We already have full ICV registration and as such we can assist foreign companies in giving our own detailed ICV profile to combine with theirs.

ADNOC, Aldar, Economic Department, Abu Dhabi Ports suppliers will have ICV Certificates given by an ADNOC, Aldar, Economic Department, Abu Dhabi Ports empaneled Certifying Body. Suppliers who don't possess ICV Certification will be allowed to participate in ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group tenders; however, their ICV Score will be considered as “Zero(0)” in the bid evaluation. An ICV certification needs to be obtained for each legal entity, which intends to participate in tender with ADNOC, Aldar, Economic Department, Abu Dhabi Ports or any of its group entities.ICV Certification will be readied based on last audited budget statements, which will not be older than 2 years from the certification year. ICV certification shall be valid for 18 months from the date of the initial issue or once a new set of financial statements are issued (whichever is earlier). The supplier shall be responsible to have the revised ICV certificate within 2 months of the issuance of audited financial statements.

The Goals Of ICV Certification Program Are:

creating extra employment opportunities for UAE nationals in the private sector;

supporting UAE GDP diversification through sourcing more products and services within the UAE

localizing strategically critical links of the value chain for chosen categories.

As a component of ADNOC’s ICV Certification program, all ADNOC, Aldar, Economic Department, Abu Dhabi Ports providers are required to declare their ICV Certificate and their guaranteed ICV score for the past financial year, demonstrating how they are helping to deliver ICV. Business partnerships with ADNOC,Aldar,Economic Department,Abu Dhabi Ports include an ICV appraisal as part of the tender evaluation and award process. Suppliers should approach the ADNOC,Aldar,Economic Department,Abu Dhabi Ports designated confirmation organization for ICV affirmation. All necessary documentation and points of interest that are required by the certifier must be given by the supplier to the motivation behind audit and confirmation. ICV Certification score needs to be finished by an ADNOC,Aldar,Economic Department,Abu Dhabi Ports approved certifying body, for  The Goals Of ICV Certification Program Are:creating extra employment opportunities for UAE nationals in the private sector;supporting UAE GDP diversification through sourcing more products and services within the UAElocalizing strategically critical links of the value chain for chosen categories.As a component of ADNOC’s ICV Certification program, all ADNOC, Aldar, Economic Department, Abu Dhabi Ports providers are required to declare their ICV Certificate and their guaranteed ICV score for the past financial year, demonstrating how they are helping to deliver ICV. Business partnerships with ADNOC,Aldar,Economic Department,Abu Dhabi Ports include an ICV appraisal as part of the tender evaluation and award process. Suppliers should approach the ADNOC,Aldar,Economic Department,Abu Dhabi Ports designated confirmation organization for ICV affirmation. All necessary documentation and points of interest that are required by the certifier must be given by the supplier to the motivation behind audit and confirmation. ICV Certification score needs to be finished by an ADNOC,Aldar,Economic Department,Abu Dhabi Ports approved certifying body, for

[caliberthings]

https://ca-solutionsuae.com/contacts.html 

[caliberthings]

https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html 

ICV certification services in Abu Dhabi. ADNOC, Aldar, Economic Department, Abu Dhabi Ports has launched an In-Country Value (ICV) program. The ICV certificate program aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector. An ICV certificate should be acquired for each legal entity. Having a set up as a local Abu Dhabi LLC UAE Company with a 51% investor will extend your ICV score, although it will be important to acquire the ICV report for the 51% shareholder to get the full advantage. This is where utilizing a corporate shareholder such as PRO Partner Group can help. We already have full ICV registration and as such we can assist foreign companies in giving our own detailed ICV profile to combine with theirs.

ADNOC, Aldar, Economic Department, Abu Dhabi Ports suppliers will have ICV Certificates given by an ADNOC, Aldar, Economic Department, Abu Dhabi Ports empaneled Certifying Body. Suppliers who don't possess ICV Certification will be allowed to participate in ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group tenders; however, their ICV Score will be considered as “Zero(0)” in the bid evaluation. An ICV certification needs to be obtained for each legal entity, which intends to participate in tender with ADNOC, Aldar, Economic Department, Abu Dhabi Ports or any of its group entities.ICV Certification will be readied based on last audited budget statements, which will not be older than 2 years from the certification year. ICV certification shall be valid for 18 months from the date of the initial issue or once a new set of financial statements are issued (whichever is earlier). The supplier shall be responsible to have the revised ICV certificate within 2 months of the issuance of audited financial statements.

[caliberthings]

ICV certification services in Abu Dhabi. ADNOC, Aldar, Economic Department, Abu Dhabi Ports has launched an In-Country Value (ICV) program. The ICV certificate program aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector. An ICV certificate should be acquired for each legal entity. Having a set up as a local Abu Dhabi LLC UAE Company with a 51% investor will extend your ICV score, although it will be important to acquire the ICV report for the 51% shareholder to get the full advantage. This is where utilizing a corporate shareholder such as PRO Partner Group can help. We already have full ICV registration and as such we can assist foreign companies in giving our own detailed ICV profile to combine with theirs.

What Is ICV Certificate?

ADNOC, Aldar, Economic Department, Abu Dhabi Ports suppliers will have ICV Certificates given by an ADNOC, Aldar, Economic Department, Abu Dhabi Ports empaneled Certifying Body. Suppliers who don't possess ICV Certification will be allowed to participate in ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group tenders; however, their ICV Score will be considered as “Zero(0)” in the bid evaluation. An ICV certification needs to be obtained for each legal entity, which intends to participate in tender with ADNOC, Aldar, Economic Department, Abu Dhabi Ports or any of its group entities.ICV Certification will be readied based on last audited budget statements, which will not be older than 2 years from the certification year. ICV certification shall be valid for 18 months from the date of the initial issue or once a new set of financial statements are issued (whichever is earlier). The supplier shall be responsible to have the revised ICV certificate within 2 months of the issuance of audited financial statements.

The Goals Of ICV Certification Program Are:

creating extra employment opportunities for UAE nationals in the private sector;

supporting UAE GDP diversification through sourcing more products and services within the UAE

localizing strategically critical links of the value chain for chosen categories.

As a component of ADNOC’s ICV Certification program, all ADNOC, Aldar, Economic Department, Abu Dhabi Ports providers are required to declare their ICV Certificate and their guaranteed ICV score for the past financial year, demonstrating how they are helping to deliver ICV. Business partnerships with ADNOC,Aldar,Economic Department,Abu Dhabi Ports include an ICV appraisal as part of the tender evaluation and award process. Suppliers should approach the ADNOC,Aldar,Economic Department,Abu Dhabi Ports designated confirmation organization for ICV affirmation. All necessary documentation and points of interest that are required by the certifier must be given by the supplier to the motivation behind audit and confirmation. ICV Certification score needs to be finished by an ADNOC,Aldar,Economic Department,Abu Dhabi Ports approved certifying body, for example, PwC, on an annual basis and submitted by the provider to ADNOC,Aldar,Economic Department,Abu Dhabi Ports with each proposal they make.

ICV scores are calculated by evaluating the economic value add within the UAE for the products or services offered by the organization, according to a pre-defined methodology.

Steps To Take Care For ICV Certification Abu Dhabi:

Goods manufactured

Emiratisation

Third-party spend

Revenue

Exports

Investment

Expatriate contribution

Who Is An ICV Certifier?

ICV Certifiers will go about as outsider independent bodies that will guarantee ICV Scorecards and Plans submitted by suppliers. Their fundamental duties are to:

Perform test methods and review information gave by suppliers

Issue Factual Finding Reports, which incorporate ICV Certificates

Attend and contribute to ICV Certifiers board bi-weekly meetings

Give access to Caliber to review working papers

ICV Certifiers are appointed by Caliber, and suppliers can just get certified through the appointed ICV Certifiers listed above.

ICV Certificate- Improvement Plan

Providers to present the improvement plan with the commercial bid. The improvement plan is seen as 01 bindings and will not be revised. During the assessment, the combination of ICV Certificate and Improvement Plan will be applied to land at the general score. The provider with the highest overall score will be moved toward to equate to a target cost with the submitted ICV at his own submission. The target to be observed quarterly to ensure the provider is on track. Any shortfall noticed shall be communicated to the supplier for a quick rectification action plan. A milestone of 5% of the agreement value will be introduced to ensure ICV achievement. Yearly Progressive payments will be made according to the compliance with ICV target. Supplier to submit the required ICV certificate to demonstrate the achievement of ICV milestone to release the particular payment accordingly.

Process In ICV Certification

1. Data Population

The Company will populate the ‘Supplier Submission Form’ gave by ADNOC,Aldar,Economic Department,Abu Dhabi Ports dependent on last audited financial statements

2. Agreed-upon procedures

The Company will populate the ‘Supplier Submission Form’ gave by ADNOC,Aldar,Economic Department,Abu Dhabi Ports dependent on last evaluated financial statements

3. Report delivery

Caliber Accounting Solutions will deliver a Factual Finding Report based on the work carried out during the session

4. Form validation

ICV Certification will be signed and stamped by Adnoc approved bodies which will have a validity of 14 months from issue date

How Is ICV Certification Executed

1. Initiation and Mobilisation

In this procedure, Initiating the engagement with Kick-off meeting with the stakeholders and the timeline will be set for performing certification.

2. Understanding the information

Analyzing current practices and making a detailed report.

3. Review

Reviewing the information populated in the “Supplier submission form” also Sample selection & testing will be done

4. Certification

Flag-off potential errors and risk, draft grading and Discuss findings with management, and finally closing meeting to discuss and Certification process.

Steps To Guide On Financial Statement

1. At first, it will be checked if Audited Financial Statements (FS) is available or not?

2. If its available next step is proceeding with ICV review as per AUP based on Audited FS

3. For a company having books of account but no audited financials, use the parent company financials. If Parent company financials do not exist then consider ICV to be zero

4. Parent Company Exists (one level up only) then, checking if Audited FS of Parent company available

5. If it's available to Proceed with ICV review based on extracted figures forbidding entity from Parent Company FS

WHAT WE OFFER AS A LEADING ICV CERTIFICATE CONSULTANTS

We make understand more about ADNOC,Aldar,Economic Department,Abu Dhabi Ports In-Country Value [ICV] Certification and the factors affecting ICV score to our clients

At Caliber Accounting Solutions we help to improve ICV score and include the incremental effect of each step in our impact analysis report. This mainly includes the recommendation of restructuring in organizational processes to increase the ICV score.

Drafting the ICV template, based upon the records of the financial year under certification that can be presented to ICV auditor

Drafting the ICV improvement plans that are required to be submitted with the tenders of ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group Companies.

The working criteria have clearly explained the improvement of ADNOC,Aldar,Economic Department ICV and how to present the ICV scores across the period of the plan to avoid seizure of ICV milestone payments.

We arrange ICV certifications to our clients

Update On Unified ICV [In Country Value] Program 3.0

Suppliers with valid ICV certificate issued as per ICV 2.0 can approach certifying body to recertify ICV Certificate 3.0 free of cost,also mentioned they should have same audited financial statements.

This law is effective from June 7th 2020. ADNOC and other bodies will accept only ICV 3.0 in all its upcoming tenders.Any submission other than ICV 3.0 will be considered as zero in the evaluation.

Latest News On ICV Certificate

As of December 2019, the Adnoc ICV programme have gained more than Dh44 billion ($12 billion) back into the UAE’s economy and has put more than 1,500 Emiratis in the private sector.

ICV Certification is required where goods are manufactured, revenue generation from outside UAE, investment, Emiratisation, expatriate contribution, and growth in investment, among others. The ICV programme has therefore evolved a new business line and has to be provided from the UAE. Over 3000 companies in UAE is ICV Certified

Companies who do not posses ICV Certificate will be allowed to participate in Adnoc group tenders, even though their ICV score is considered as zero in the bid evaluation and they will be at a disadvantage compared to those with higher ICV score, in a way ICV certificate helps companies to get an opportunity for the first right of getting into tender process.

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info@ca-solutionsuae.com

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+ 971 502589123

Hamdan Street, Abu Dhabi

Caliber

We are an accounts outsourcing agency focusing the development of any kind of business in the industry.

[caliberthings]

At Caliber Accounting Solutions, we provide SMEs with cost-effective accounting and finance solutions

https://ca-solutionsuae.com/cost-effective-accounting-and-finance.html

At Caliber Accounting Solutions, we provide SMEs with cost-effective accounting and finance solutions. Our experienced accountants will work with you to ensure that your books are in order and that they are tax-efficient.

Availing professional services such as legal advice, accounting, taxation, and project management will help you grow and enhance your business. Our goal is to provide you with the highest level of integrity and confidentiality.

The ICV program incentivizes oil and gas companies to buy goods and services from local suppliers. This is an amazing opportunity for UAE-based businesses, as it is expected that the ICV spend will reach AED 2 billion ($540 million USD) in 2020. Icv certified professionals are crucial for these companies because they want to make sure that the contractors they hire will deliver quality products and services. A company can also save a significant amount of time and money by hiring someone who is icv certified.This article discusses why your company needs icv professional if it wants to create sustainable business relationships with local suppliers.

The UAE is now one of the most developed countries in the world with the fastest growing economy. The ICV certificate program strives to develop and diversify the UAE’s economy and create opportunities for UAE nationals. The ICV certificate program is a program that focuses on developing, training, certifying and developing young talent in various industries. To name a few, these are civil aviation, aerospace engineering, information technology among others.

ICV strives to achieve its goals by addressing the needs of both employers and employees. They are constantly updating their curriculums to make sure they are up-to-date with the latest trends in their industries. But their most important goal is to provide young talent with high-quality education at affordable rates so that they can work in some of Dubai. The ICV certification is an internationally recognised accounting certificate. It is given by the Institute of Chartered Accountants in the UAE to those who meet the requirements and serve as a proof of qualification and industry knowledge.

The ADV certificate is given to UAE citizens who are qualified to act as directors of companies. They are required to take this course before they can register with the UAE Ministry of Economy for this designation.

When your company needs accounting services Abu Dhabi, Dubai, Feasibility Study services Dubai or any other professional service, you should look for professionals who have these certifications in order to offer you reliable service.

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https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html

[caliberthings]

https://ca-solutionsuae.com/services.html 

[caliberthings]

https://exoticwoodzone.com/pages/special-offers-combo-deals 

Black Friday Cyber Monday Sale

Check out some of the amazing deals that we have to offer this Black Friday on all woodworking items. There's something for everyone.

Guitar back and sides set

Attention Luthiers Get guitar back and sides that are made of rare exotic and domestic woods. Genuine honduran, Padauk, Leopardwood guitar back and side sets start at $49.99 and with every guitar back and side that you purchase you get a fingerboard made of top quality exotic wood for free.

Electric Guitar Body Blanks

Get some exotic woods for your next electric guitar that starts at $39.99 Our collection includes African Mahogany, Basswood, Alder and even more. All these are available in Semi Explorer and Explorer sizes. 

Some species that we have to offer are as below

African mahogany is widely considered to be a sound substitute for Honduran Mahogany due to the many characters they have in common.

The American basswood is the best and most sought after wood for beginners who are interested in trying their luck in wood carving. This is your chance.

The wood of European Alder tends to be a light tan to auburn. Eventually, the color darkens and reddens with age that is especially thanks to overexposure of the wood to the daylight. 

Any body blank that you purchase from us, we take care of the planning and thickness according to your requirement for free. It does not end with that with every Body blanks that you purchase you get a free fingerboard.

Tone Woods

Top quality exotic woods that have great tonal characters that are suitable for many musical instruments. We offer more than 30 species of exotic and domestic wood. Headplates, bridge blanks etc are all available on sale.

Turning blanks, Bowl Blanks, Pepper mill blanks

More than 30 species of turning blanks, Bowl Blanks, and pepper mill blanks at amazing prices. Olivewood, osage orange, east indian rosewood, red heart etc are some of the species of turning /spindle blanks, bowl blanks, pepper mill blanks that we have to offer. These are available in different sizes according to your requirement. All our blanks are kiln dried and ready to be purchased. Get more for value by buying in bulk. 

Burls

Get your hands on the most exotic and rare burls with a whopping 50% off. These burls are imported from different parts of the world and hence have their unique characters. Chechen, Red Mallee Yellow box burls and many more exotic burls are at your fingertips.

Live edges and cookies

Get the most natural and rustic look possible for your projects with our rare and exotic live edges and cookies. African Blackwood, Olivewood, Bocote are some of the live edges and cookies that we have to offer. The best part is that this rustic looking live edges and cookies come with a 70% off so that you would not have to burn a hole in your pockets.

[caliberthings]

https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html

ICV certification services in Abu Dhabi. ADNOC, Aldar, Economic Department, Abu Dhabi Ports has launched an In-Country Value (ICV) program. The ICV certificate program aims to grow and diversifying the UAE’s economy and creating opportunities for UAE nationals in the private sector. An ICV certificate should be acquired for each legal entity. Having a set up as a local Abu Dhabi LLC UAE Company with a 51% investor will extend your ICV score, although it will be important to acquire the ICV report for the 51% shareholder to get the full advantage. This is where utilizing a corporate shareholder such as PRO Partner Group can help. We already have full ICV registration and as such we can assist foreign companies in giving our own detailed ICV profile to combine with theirs.

What Is ICV Certificate?

ADNOC, Aldar, Economic Department, Abu Dhabi Ports suppliers will have ICV Certificates given by an ADNOC, Aldar, Economic Department, Abu Dhabi Ports empaneled Certifying Body. Suppliers who don't possess ICV Certification will be allowed to participate in ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group tenders; however, their ICV Score will be considered as “Zero(0)” in the bid evaluation. An ICV certification needs to be obtained for each legal entity, which intends to participate in tender with ADNOC, Aldar, Economic Department, Abu Dhabi Ports or any of its group entities.ICV Certification will be readied based on last audited budget statements, which will not be older than 2 years from the certification year. ICV certification shall be valid for 18 months from the date of the initial issue or once a new set of financial statements are issued (whichever is earlier). The supplier shall be responsible to have the revised ICV certificate within 2 months of the issuance of audited financial statements.

The Goals Of ICV Certification Program Are:

Emiratisation:

creating extra employment opportunities for UAE nationals in the private sector;

GDP diversification:supporting UAE GDP diversification through sourcing more products and services within the UAElocalizing strategically critical links of the value chain for chosen categories.As a component of ADNOC’s ICV Certification program, all ADNOC, Aldar, Economic Department, Abu Dhabi Ports providers are required to declare their ICV Certificate and their guaranteed ICV score for the past financial year, demonstrating how they are helping to deliver ICV. Business partnerships with ADNOC,Aldar,Economic Department,Abu Dhabi Ports include an ICV appraisal as part of the tender evaluation and award process. Suppliers should approach the ADNOC,Aldar,Economic Department,Abu Dhabi Ports designated confirmation organization for ICV affirmation. All necessary documentation and points of interest that are required by the certifier must be given by the supplier to the motivation behind audit and confirmation. ICV Certification score needs to be finished by an ADNOC,Aldar,Economic Department,Abu Dhabi Ports approved certifying body, for example, PwC, on an annual basis and submitted by the provider to ADNOC,Aldar,Economic Department,Abu Dhabi Ports with each proposal they make.ICV scores are calculated by evaluating the economic value add within the UAE for the products or services offered by the organization, according to a pre-defined methodology.Steps To Take Care For ICV Certification Abu Dhabi:Goods manufacturedEmiratisationThird-party spendRevenueExportsInvestmentExpatriate contributionWho Is An ICV Certifier?ICV Certifiers will go about as outsider independent bodies that will guarantee ICV Scorecards and Plans submitted by suppliers. Their fundamental duties are to:Perform test methods and review information gave by suppliersIssue Factual Finding Reports, which incorporate ICV CertificatesAttend and contribute to ICV Certifiers board bi-weekly meetingsGive access to Caliber to review working papersICV Certifiers are appointed by Caliber, and suppliers can just get certified through the appointed ICV Certifiers listed above.

ICV Certificate- Improvement PlanProviders to present the improvement plan with the commercial bid. The improvement plan is seen as 01 bindings and will not be revised. During the assessment, the combination of ICV Certificate and Improvement Plan will be applied to land at the general score. The provider with the highest overall score will be moved toward to equate to a target cost with the submitted ICV at his own submission. The target to be observed quarterly to ensure the provider is on track. Any shortfall noticed shall be communicated to the supplier for a quick rectification action plan. A milestone of 5% of the agreement value will be introduced to ensure ICV achievement. Yearly Progressive payments will be made according to the compliance with ICV target. Supplier to submit the required ICV certificate to demonstrate the achievement of ICV milestone to release the particular payment accordingly.Process In ICV Certification1. Data PopulationThe Company will populate the ‘Supplier Submission Form’ gave by ADNOC,Aldar,Economic Department,Abu Dhabi Ports dependent on last audited financial statements2. Agreed-upon proceduresThe Company will populate the ‘Supplier Submission Form’ gave by ADNOC,Aldar,Economic Department,Abu Dhabi Ports dependent on last evaluated financial statements3. Report deliveryCaliber Accounting Solutions will deliver a Factual Finding Report based on the work carried out during the session4. Form validationICV Certification will be signed and stamped by Adnoc approved bodies which will have a validity of 14 months from issue dateHow Is ICV Certification Executed1. Initiation and MobilisationIn this procedure, Initiating the engagement with Kick-off meeting with the stakeholders and the timeline will be set for performing certification.2. Understanding the informationAnalyzing current practices and making a detailed report.3. ReviewReviewing the information populated in the “Supplier submission form” also Sample selection & testing will be done4. CertificationFlag-off potential errors and risk, draft grading and Discuss findings with management, and finally closing meeting to discuss and Certification process.Steps To Guide On Financial Statement1. At first, it will be checked if Audited Financial Statements (FS) is available or not?2. If its available next step is proceeding with ICV review as per AUP based on Audited FS3. For a company having books of account but no audited financials, use the parent company financials. If Parent company financials do not exist then consider ICV to be zero4. Parent Company Exists (one level up only) then, checking if Audited FS of Parent company available5. If it's available to Proceed with ICV review based on extracted figures forbidding entity from Parent Company FSWHAT WE OFFER AS A LEADING ICV CERTIFICATE CONSULTANTSWe make understand more about ADNOC,Aldar,Economic Department,Abu Dhabi Ports In-Country Value [ICV] Certification and the factors affecting ICV score to our clientsAt Caliber Accounting Solutions we help to improve ICV score and include the incremental effect of each step in our impact analysis report. This mainly includes the recommendation of restructuring in organizational processes to increase the ICV score.Drafting the ICV template, based upon the records of the financial year under certification that can be presented to ICV auditorDrafting the ICV improvement plans that are required to be submitted with the tenders of ADNOC,Aldar,Economic Department,Abu Dhabi Ports Group Companies.The working criteria have clearly explained the improvement of ADNOC,Aldar,Economic Department ICV and how to present the ICV scores across the period of the plan to avoid seizure of ICV milestone payments.We arrange ICV certifications to our clientsUpdate On Unified ICV [In Country Value] Program 3.0Suppliers with valid ICV certificate issued as per ICV 2.0 can approach certifying body to recertify ICV Certificate 3.0 free of cost,also mentioned they should have same audited financial statements.This law is effective from June 7th 2020. ADNOC and other bodies will accept only ICV 3.0 in all its upcoming tenders.Any submission other than ICV 3.0 will be considered as zero in the evaluation.Latest News On ICV CertificateAs of December 2019, the Adnoc ICV programme have gained more than Dh44 billion ($12 billion) back into the UAE’s economy and has put more than 1,500 Emiratis in the private sector.ICV Certification is required where goods are manufactured, revenue generation from outside UAE, investment, Emiratisation, expatriate contribution, and growth in investment, among others. The ICV programme has therefore evolved a new business line and has to be provided from the UAE. Over 3000 companies in UAE is ICV CertifiedCompanies who do not posses ICV Certificate will be allowed to participate in Adnoc group tenders, even though their ICV score is considered as zero in the bid evaluation and they will be at a disadvantage compared to those with higher ICV score, in a way ICV certificate helps companies to get an opportunity for the first right of getting into tender process.HomeAboutServicesContactTwitterFacebookInstagramPinterestYouTubeinfo@ca-solutionsuae.com+ 971 547658753+ 971 502589123Hamdan Street, Abu DhabiCaliberWe are an accounts outsourcing agency focusing the development of any kind of business in the industry.

[caliberthings]

The ICV program incentivizes oil and gas companies to buy goods and services from local suppliers. This is an amazing opportunity for UAE-based businesses, as it is expected that the ICV spend will reach AED 2 billion ($540 million USD) in 2020.

Icv certified professionals are crucial for these companies because they want to make sure that the contractors they hire will deliver quality products and services. A company can also save a significant amount of time and money by hiring someone who is icv certified.This article discusses why your company needs icv professional if it wants to create sustainable business relationships with local suppliers.

The UAE is now one of the most developed countries in the world with the fastest growing economy. The ICV certificate program strives to develop and diversify the UAE’s economy and create opportunities for UAE nationals. The ICV certificate program is a program that focuses on developing, training, certifying and developing young talent in various industries. To name a few, these are civil aviation, aerospace engineering, information technology among others.

ICV strives to achieve its goals by addressing the needs of both employers and employees. They are constantly updating their curriculums to make sure they are up-to-date with the latest trends in their industries. But their most important goal is to provide young talent with high-quality education at affordable rates so that they can work in some of Dubai. The ICV certification is an internationally recognised accounting certificate. It is given by the Institute of Chartered Accountants in the UAE to those who meet the requirements and serve as a proof of qualification and industry knowledge.

The ADV certificate is given to UAE citizens who are qualified to act as directors of companies. They are required to take this course before they can register with the UAE Ministry of Economy for this designation.

When your company needs accounting services Abu Dhabi, Dubai, Feasibility Study services Dubai or any other professional service, you should look for professionals who have these certifications in order to offer you reliable service.

https://ca-solutionsuae.com/cost-effective-accounting-and-finance.html  

[caliberthings]

https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html

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https://ca-solutionsuae.com/icv-certification-abudhabi-uae.html

[caliberthings]

Local content in gcc what all you need to know: icv certificate

Local content in gcc what all you need to know: icv certificate

UAE ADNOC have introduced local content requirements into their legal framework through legislation, regulations, guidelines, industry contracts and bidding practices, in order to maximise the gain of foreign investment

The main intention of icv adnoc program is to encourage more foreign investment to the country in order to increase its local economy, train and hire more workers and to build a local supplier networks for goods and services

In response, companies must rethink their approach to local content if they are to achieve lower costs, access further development programmes and maintain and improve their relationships with host governments.

As national oil companies look to fuel the economic development of their countries, we look at the local content plans of ADNOC, Saudi Aramco and Kuwait Petroleum Corporation.

ADNOC

ADNOC have launched and adopted the In country value certificate, commonly known as icv certificate., programme in february 2018

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It aims to foster local content by encouraging local supplier selection, localisation of critical functionalities in the oil and gas industry and development of UAE nationals – especially SMEs.

All suppliers participating in trade with adnoc will be asked to provide an ICV certificate when participating in tenders, however, while the ICV certification is not mandatory, failing to have one will result in a 0% rating. This does not preclude suppliers from participating in a tender, but will have an impact on their final evaluation score.

Suppliers of goods are issued certificates based on local value-add activities such as local manufacture, investment and employment levels. Suppliers of services are issued certificates based on levels of investment, in-country value of goods procured, subcontractors engaged and employment levels.

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Improvement plans in ICV Certificate

1.Improvement plan consideration in ICV Certificate

1a.Evaluation plan

Combination of ICV Certificate and Improvement Plan with higher weightage on Improvement Plan

1b.Governance

ICV Milestone Payment of 5% of project value and Amounts released annually based on compliance with ICV Improvement Plan

1c.Implementation

Immediate implementation on specific agreements. Remaining to be applied by November 2018

Below are the improvement plan consideration by ADNOC for ICV Certificate

1.Improvement plan on particular projects

- Project based Improvement Plan

- Additional requirement from Supplier to engage project auditor to audit project spend for verification purposes

- Project specific ICV to be issued by the Certifying bodies

-Percentage of project value to be held and released progressively as per compliance with ICV targets

2.Improvement plan on All Agreements & other projects

-This will be company based Improvement Plan

-Annual ICV certificates to be issued during full agreement period

-Percentage of agreement value to be held and released progressively as per compliance with ICV targets

More Improvement Plans on ICV Certificate

1.Suppliers to submit the improvement plan with the commercial bid. The improvement plan is considered 01 binding and shall not be revised

2.New consideration shall be implemented by Nov. 2018. ADNOC Group will apply the new considerations partially on some of its major tenders instantly

3.During evaluation, combination of ICV Certificate and

Improvement Plan will be applied to arrive at the overall

score. The supplier with the highest overall score will be

approached first to equate to a target price with the

committed ICV at his own submission

4.The target to be monitored quarterly to ensure the supplier is on track. Any shortfall noticed shall be communicated to the supplier for immediate rectification action plan

5.A milestone of 5% of contract value will be introduced to ensure the ICV achievement. Annual Progressive payments shall be made according to the compliance with the ICV target

6.Supplier to submit the required ICV certificate to prove achievement of the ICV milestone to release the respective payment accordingly

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