Technical Assistance Consultancy

Our duly registered mandate and consequent comparative advantage enable us to both counsel our clients on Iraqi legal matters and also help them to ensure the ongoing regulatory and operational compliance of their in-country structures and activities. All of this and more is completed through an efficient and confidential single-source solution.

We understand the uniquely challenging nature of Iraq’s business regulatory environment and the critical importance of maintaining compliance among our clients’ companies, branch offices, contracts, projects, local employees, and related activities, in addition to conformity with applicable Iraqi laws, regulations, and policies. Fortunately for our clients, Al Iraqia is professionally familiar with how the relevant Iraqi laws are applied in practice by the various branches, agencies, and administrative entities of Iraq.

Therefore, and consistent with our single-source solution approach, Al Iraqia has a dedicated Technical Assistance Consultancy that advises and supports our clients on the commercial, regulatory, and general day-to-day business operation and financial management matters arising from their corporate structure and commercial activities in Iraq. We also advise international, regional, and bilateral developmental and financial organizations on their country strategies, technical assistance programs, sectoral assessments, and projects in Iraq.

Our Technical Assistance Consultancy is organized around the following six areas of services, and it operates in synergy with our law practice:

1. Start-up Services: After advising our clients on the legal requirements and procedures for establishing a business entity in Iraq, we provide start-up support services to assist them in operationalizing their in-country presence, including but not limited to the following:
   • identifying and securing appropriate office space (leases and utilities included);
   • screening and hiring competent local staff (including local subject-matter experts, support staff, and security details);
   • establishing proper in-country human resources, accounting, and auditing systems; and
   • developing permanent local institutional and business partnerships.
2. Regulatory Compliance: Once our clients’ operations are up and running, we help them keep track of changes in Iraq’s regulatory environment, and we assist them to regularly assess any potential impact on their operations and employees so that they can ensure complete and timely compliance with local regulatory requirements via the following:
   • general due diligence (inclusive of background checks);
   • Iraq country and market entry strategies and assessments;
   • public policy analyses and strategic guidance;
   • corporate, payroll, and social security tax compliance;
   • accounting and auditing systems compliance;
   • statutory compliance programs; and
   • risk analysis programs.
3. Financial Management: Al Iraqia provides assistance to companies on all matters related to the financial management (i.e. taxation, accounting, auditing, and social security obligations and processing) of their in-country structures, activities, and local employees, including:
   • developing Iraqi law compliant tax and related accounting set-ups and systems;
   • establishing Iraqi tax files and obtaining the corresponding Tax Identification Numbers (TIN);
   • maintaining Iraq-based bookkeeping and accounting records;
   • converting financial statements to comply with the Iraqi Unified Accounting System;
   • establishing the requisite protocols for language translation (including US GAAP to Iraqi GAAP);
   • transforming financial statements based on GAAP accounting standards to the Iraqi Unified Accounting System in compliance with local tax filing and record-keeping requirements;
   • translating the trial balance and financial statements to Arabic as required by Iraqi law;
   • summarizing journal entries in tax schedules in compliance with Iraqi regulations;
   • assigning account codes accepted by the Iraqi Unified Accounting System and trial balance;
   • conducting payroll tax and social security calculations and payments;
   • ensuring that business income tax and related matters comply with the current filing requirements of the Iraqi tax authorities;
   • conducting financial control risk assessment and review;
   • implementing internal audits and investigations;
   • conducting procurement and supply chain audits;
   • establishing and implementing new financial controls and accounting procedures; and
   • training clients’ local employees in the foregoing.
4. Business Development: We also assist our clients in identifying private and public sector business opportunities in Iraq, such as Government of Iraq (“GoI”) tenders, and we assist them in arranging the necessary GoI meetings; preparing, reviewing and submitting the requisite proposals and feasibility studies; crafting the proper negotiation strategies; and providing pre- and post-contractual support services (including pre-award/post-award contract adjustments and contractor claims).
5. Performance Appraisal: Al Iraqia actively assists client with their in-country projects and in setting baseline indicators to ensure project deliverables are on schedule. We frequently recommend necessary adjustments and we also help to identify any potential risks to better ensure project sustainability and success.
6. Technical Support: In addition to assisting our international, regional, and bilateral developmental and financial organization clients on their Iraq country strategies, programs, assessments, and projects, we are also well-equipped to advise on the following:
   • donor grants, loans, credits, and loan guarantees (including during the negotiation phase);
   • sovereign guarantees;
   • in-country resident representatives and implementing agents/agencies;
   • technical capacity-building and training;
   • governance;
   • rule of law;
   • anti-corruption;
   • anti-money laundering and combatting terrorism financing;
   • judicial, legal, and regulatory reform;
   • private sector development (PSD);
   • banking and financial sector reform;
   • restructuring, commercialization, and privatization of State-owned enterprises (SOEs);
   • commercial law reform;
   • corporate social responsibility;
   • international human rights, international humanitarian rights, and international trafficking in persons (human trafficking);
   • strengthening public financial management capacity; and
   • strengthening national administrative functions.