Description

The tourism and travel industry is one of the largest industry sectors around the world. The International Air Transport Association (IATA) is responsible for regulating the aviation travel industry worldwide. Entrepreneurs aiming to become a travel agent or start a travel agency business can obtain an IATA accreditation or registration.

The IATA registration will boost the travel business revenue. The IATA-certified travel agency businesses can issue airline tickets on behalf of airlines. Thus, it simplifies booking processes and cuts expenses for both travel agency businesses and airlines.  All years IATA travel agents required financial audit. And this service we providing from Bangladesh. We are a more than 10 years experienced team who works with travel inventory and technology.

Travel Agency Audit Report To Submit IATA | IATA Financial Report Submit

The new criteria adopted by IATA require all accredited agents, or those seeking accreditation, to provide audited accounts. The audit requirements apply for all accounts provided to IATA on or after 1 June 2013 and apply to all agents, therefore including small companies, sole traders, and partnerships.

The IATA criteria require audited accounts covering at least 12 months of trading to be provided by all agents that want to apply to become accredited by IATA.

Under the IATA criteria, financial information extracted from the agent’s audited accounts is then used to evaluate the agent by applying a set of financial tests that are expressed as follows:

‘(a) There must be positive Net Equity.

(b) Profitability: the accounts must show that the Agent and their registered Parent Company(ies) as applicable, have made a profit before tax at the end of an accounting period.

(c) Liquidity: the accounts must show a positive liquidity ratio i.e. current assets must exceed current liabilities at the end of an accounting period.’

Additionally, there must have been no defaults against the agent’s IATA license in the previous 24 months.

An agent that has been accredited for more than two years and that fails to pass any of the criteria must provide IATA with financial security calculated in accordance with the local criteria rules. Agents accredited for two years or less must provide financial security in any case.  

For your yearly audit report, you may WhatsApp us +8801978569299 or order your services from here.

 

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