Financial Statement Preparation Services in Kenya

Accurate financial statements aren't just documents for accountants—they are critical tools for decision-making, tax compliance, and business growth. Whether you're a startup in Nairobi or an established enterprise in Mombasa, your financial reports have the power to influence lenders, investors, regulators, and internal stakeholders.

At Tax Room Kenya, we provide expert financial statement preparation services designed to keep your business compliant with Kenyan laws, audit-ready, and strategically informed. Our accountants help businesses unlock the true power of well-structured financial data using internationally recognised standards.

What Is Financial Statement Preparation?

Financial statement preparation involves compiling essential financial reports that summarize your business's performance, balance, cash flow, and equity over a defined period. These statements must comply with standards such as:

• International Financial Reporting Standards (IFRS)

• Kenyan Companies Act 2015

• Kenya Revenue Authority (KRA) requirements

These reports form the basis of any meaningful analysis, tax filing, audit readiness, and fundraising efforts, and establish financial clarity for business owners and stakeholders.

Types of Financial Statements We Prepare

1. Statement of Comprehensive Income (Income Statement)

Outlines revenue, cost of goods sold, gross profit, operating expenses, and net income. This shows if your business is profitable and helps assess performance trends.

2. Statement of Financial Position (Balance Sheet)

Provides a snapshot of your business’s health—assets, liabilities, and equity—helping assess solvency and creditworthiness.

3. Cash Flow Statement

Divided into operating, investing, and financing activities, this report reveals how cash moves in and out of your business for better financial planning.

4. Statement of Changes in Equity

Explains changes in equity, retained earnings, shareholder contributions, withdrawals, and dividends.

5. Notes to Financial Statements & Disclosures

Clarifies accounting policies, unusual transactions, and segment breakdowns to improve transparency.

Additional Reports for Specific Entities and Sectors

We also prepare donor reports for NGOs, SACCO filings, healthcare or manufacturing schedules, and consolidated group reports.

Benefits of Accurate Financial Statement Preparation

1. Tax compliance and KRA audit readiness

2. Access to funding and credit

3. Strategic decision-making with real data

4. Fraud detection and error prevention

5. Enhanced communication with stakeholders

Why Outsource Financial Statement Preparation?

Outsourcing reduces errors, saves time, ensures compliance with changing laws, and keeps you audit-ready with expert IFRS knowledge.

Who Needs Professional Statement Preparation Services?

We serve SMEs, NGOs, healthcare, education, manufacturing, consultancies, fintech, and SACCOs.

Frequently Asked Questions

Are financial statements mandatory in Kenya?

Yes, under the Companies Act 2015, all registered entities must prepare annual statements for KRA compliance.

Can I use Excel or internal staff?

Only licensed practitioners can produce IFRS-compliant, audit-ready statements acceptable to banks, KRA, and investors.

How often should I prepare them?

Monthly for accuracy, quarterly for monitoring, annually for compliance.

Work With Us

We turn financial statements into strategic business tools. Licensed accountants ensure compliance, audit readiness, and actionable insights for growth.

Request Expert Financial Statement Preparation Today

Avoid penalties, audit surprises, and missed opportunities—contact Tax Room Kenya for IFRS-compliant, KRA-ready statements tailored to your business.