Financial Auditing & Assurance Services

Primarily, auditing is concerned with the expression of opinion on the financial statements of the enterprise that whether the financial statements represent a true and fair view of the affairs of the enterprise. We shall offer a wide range of auditing & assurance services that are highly accurate and reliable. These services give an opportunity to improve financial stability and enhance the effectiveness of decision making.

  • Assurance Auditing Services
  • Statutory Auditing Services
  • Limited Scope Reviews and Internal Auditing Services
  • Business Auditing Services
  • Pre-Audit Compilations and Tax Auditing Services
  • Audit under the International Financial Reporting Standards (IFRS) rules
  • Approaches to the regulation of auditing practice, in particular legal rules and professional guidelines
  • Identification of key areas of audits and assurance services
  • Specific audit techniques, such as observation, directional testing, cut-off tests, third-party confirmations
  • The application of techniques in the context of the main revenue and cost activities of the organization
  • Assessment of errors and weaknesses
  • Documenting the audit or assurance service, preparation and review of working papers.
  • Identify why external audits and other types of assurance services are conducted
  • Identify the duties of auditors, other assurance providers and how these have changed over time and their impact

 

Development Of Financial Investments

Investing is one of the most powerful elements within the financial planning process. Investment planning is a very important function of an organization requiring making decisions during its establishing and also expanding. The contribution is dealing with a description of the general planning methods based on the theoretical knowledge. Its aim is also to point out to basic theoretical procedures which are used and known in practice from the aspect of making decisions on investments and from a viewpoint of the evaluation of investment projects.

  • Describe the strategies that will help you meet your objectives
  • Identify viability of projects
  • Describe your return expectations and time horizon
  • Include detailed information about how much risk you’re willing to take
  • Develop guidelines on the types of investments that make up a portfolio, and how accessible funds are needed to used
  • Specify how your portfolio will be monitored, and when or why it should be reviewed.
  • Assess your financial situation. Create a clear picture of your current financial situation, including analyzing your investment timeframe and your risk tolerance.
  • Develop investing options to help the UN make decisions that are right by gaining knowledge on different type of investments and accounts.
  • Monitor your progress by revisiting and re-allocating your portfolio regularly to make sure your investments aligned with the current needs and future goals.
  • Consider tax implications and be aware of tax advantages as well as tax consequences so you can avoid paying unnecessary fees.
  • Review and research organizational regulatory requirements as applied to fi¬nancial and investment planning
  • Developing financial plans including retirement planning, estate planning, and budgets
  • Monitor and evaluate the impact of the investment from the communities where the your company operates

 

Developing Accounting Standards Services

An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in any organization and are the norms of accounting policies and practices issued by the accounting bodies, national and international, for the guidance of their members regarding the treatment of the items, which make the financial statements and their disclosure therein. The establishment and enforcement of standards is an important issue for the accounting professional and its interested users. Determining the best mechanism to employ in the establishment of uniform accounting standards in any region is also very important due to cultural, regional, economical factors that increase the acceptability and usefulness of accounting standards.

  • Application of accounting standards
  • Changes in accounting policies
  • Enforcement of accounting standards
  • Objectives and impact of accounting standards
  • Need for cost/benefit analysis of standards
  • Development of fund accounting techniques and the discovery of their inadequacies.

 

Internal Accounting System

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. In a broad concept, internal control involves everything that controls risks to an organization. At the organizational level, internal control objectives relate to the reliability of financial reporting, timely feedback on the achievement of operational or strategic goals, and compliance with laws and regulations. At the specific transaction level, internal control refers to the actions taken to achieve a specific objective (e.g., how to ensure the organization’s payments to third parties are for valid services rendered.) Internal control procedures reduce process variation, leading to more predictable outcomes. Controls can be evaluated and improved to make a business operation run more effectively and efficiently. For example, automating controls that are manual in nature can save costs and improve transaction processing.

  • Ensure compliance with company policies and federal law.
  • Evaluate the performance of all personnel to promote efficient operations.
  • Ensure accurate and reliable operating data and accounting reports.
  • Ultimate responsibility for establishing and maintaining an effective internal control structure
  • Evaluate the effectiveness of the internal control structure and determine whether company policies and procedures are being followed
  • Review of accounting systems and internal controls
  • Regularly communicate updates and reminders of policies and procedures to staff through emails, staff meetings and other communication methods.
  • Periodically assess risks and the level of internal control required to protect the UN assets and records related to those risks.
  • Document the process for review, including when it will take place.

 

Financial Modeling

Financial modeling is the process by which a firm constructs a financial representation of some, or all, aspects of the firm or given security. The model is usually characterized by performing calculations and makes recommendations based on that information. The model may also summarize particular events for the end user such as investment management returns or it may help estimate market direction. Financial models are used for many different reasons. The most common of which are business valuation, scenario preparation for strategic planning, cost of capital calculations for corporate finance projects, capital budgeting decisions and the allocation of corporate resources. Financial models are also used in the creation of projections and trends for forecasts and many other uses related to industry comparisons, ratio analysis and common size financial statements. Financial Modeling is a tool that can be used to forecast a picture of a security or a financial instrument or a company’s future financial performance based on the historical performance of the entity. Financial Modeling includes preparing of detailed company specific models which are then used for the purpose of decision making and performing financial analysis.

  • Excel features and functions for financial modeling
  • Combine knowledge of Accounting and Finance with Ms Excel, develop interlinked Financial Statements and carry out Financial Analysis
  • Create robust financial models that are easy to use, extend and present
  • Specifically build financial models for Project Finance and Valuation
  • Develop model assumptions on the basis of statistical analyses
  • Forecasting revenue and cost of goods segment by segment and using price-per-unit and #-units-sold drivers instead of aggregate forecasts
  • Forecasting financials across different business units as opposed to looking only at consolidated financials
  • Breaking out financing into various tranches with more realistic pricing

 

Auditing Policies And Practices

Many employers fail to realize just how much is at stake when they do not regularly audit their employment policies, procedures, practices, and processes for legal compliance in the workplace and all of their technology systems implementing reasonable measures that protect all of their company information. Written policies and procedures codify management’s criteria for executing an organization’s operations. Developing and documenting policies and procedures is the responsibility of management, thus, they should document business processes, personnel responsibilities, departmental operations, and promote uniformity in executing and recording transactions.

  • Ensure they are accurate, complete, and current at all times.
  • Revise policies and procedures for changes in business processes and policies. This is particularly important when new systems are developed and implemented or other organizational changes occur.
  • Communicate significant changes to all affected personnel immediately to ensure they are aware of any revisions to their daily duties and responsibilities.
  • Analyze business processes and identify and eliminate any duplicated efforts
  • Streamline processes by reducing any non-valued added procedures
  • Employ a cost-benefit methodology when analyzing and developing new processes.
  • Automate where possible
  • Establish firm audit/inspection policies and procedures in writing.
  • Adequately train all personnel on developed written policies and procedures
  • Use checklists to ensure audits and inspections are done correctly.
  • Proactively use audit/inspection results to make better business decisions.
  • Provide a framework for performing and promoting a broad range of value-added internal audit activities.
  • Establish the basis for the measurement of internal audit performance.
  • Foster improved organizational processes and operations.
  • Adequately train all personnel on developed written policies and procedures

 

Investment Strategies

Investment strategy is planning to guide their investment decisions. Investment strategies can differ greatly from a rapid growth strategy where an investor focuses on capital appreciation to a safety strategy where the focus is on wealth protection. The most important part of any investment strategy should be to align it with the individual’s goals and to be followed closely by the investor. When creating an investment strategy, it is important to quantitatively figure out what you are seeking to accomplish. Stating that you simply want to make money or become wealthy is not helpful. Setting up your investment strategy is like buying a new car, before you look at the different models, you need to figure out what style suits you best. And just like cars, there are many styles to choose from when creating an investment strategy. When choosing the right investing strategy, there are questions that need to be answered first.

  • Develop new developments in investment management and future trends in the asset management industry.
  • Make stronger decisions based on a broader understanding of the entire investment process.
  • Develop the latest investment techniques with cutting-edge academic research and real-world case studies.
  • Ensure effective performance evaluation using appropriate performance evaluation measurements and benchmarking the with best practice.
  • Develop risk management techniques to minimise the effects of market volatility on a portfolio.
  • Effectively manage the inherent problems of delegating portfolio management to an agency.
  • Explore the role of alternative asset classes in a portfolio, such as real estate, commodities and socially responsible investing.
  • Evaluate investment management strategies and portfolio performance.
  • Enhance returns, manage and reduce risks.
  • Practical investment management tools that can be immediately and effectively applied.
  • Develop fresh perspectives on investment strategy gleaned from diverse class interactions and world-class faculty.
  • Engage and communicate the unique value and positioning of your organisation to your employees.

 

Taxation Services

Businesses face the increasing pressure of ever more rules and regulations, with tax complexities often consuming a large amount of management time and effort. We will help you incorporate tax efficiency into your business planning and decision-making to put you in control of tax costs and generate long term savings. We realise that managing your tax compliance burden efficiently can have a significant impact on your business. Our services will be designed to help you get to grips with the complexities involved as well as keep you informed of any additional responsibilities and liabilities that you may need to consider, from indirect taxes such as VAT and customs duties through to employee taxes and stamp duty. We shall provide a comprehensive taxation and business advisory service to our clients.

  • We shall ensure that the payroll agrees to the PAYE records and the employment contracts.
  • We ensure examine all the payroll records including the staff files to ensure all emoluments are declared.
  • We also recalculate the taxes to ensure correct tax rates have been used.
  • We shall ensure that withholding tax has been correctly deducted, accounted for and remitted on a timely basis to the tax authorities in respect of all eligible invoices and agreements entered into.
  • We shall review the purchases day book, cash book and other similar records to identify invoices or payments that are subject to withholding tax and ensure that the same has been done and paid on time.
  • We shall review the VAT control accounts to ensure that all output taxes have been declared and all eligible input tax has been claimed.
  • We shall then prepare a report of findings and compute the outstanding taxes and penalties if any.
  • Advisory services on tax implications of various transactions- This is based on research and having vast knowledge in all areas of taxation
  • We shall carryout tax planning to ensure that our clients get the full benefit of the tax laws.
  • Employee compensation structuring
  • We shall train your staffs on taxation planning and management.
  • Personal and corporate Tax Preparation
  • Ensure any taxable of income from the employees are included into the system

 

Independent Control And Assurance Reviews

As all major organizations seek to ensure they have assurance that their risks are being mitigated effectively, increasingly they are looking to those providing outsourced services to demonstrate that their governance and operational processes are robust. A quality system is defined as the organizational structure, responsibilities, processes, procedures and resources for implementing quality management. Quality management includes those aspects of the overall management function that determine and implement the Company quality policy and quality objectives. High levels of quality are essential to achieve company business objectives. High quality is not an added value; it is an essential basic requirement. Quality does not only relate solely to the end products and services an organization provides but also relates to the way the company employees do their job and the work processes they follow to produce products or services. The work processes should be as efficient as possible and continually improving. Company employees constitute the most important resource for improving quality. We shall offer the following Independent Control and Assurance Review services:

  • Conduct assurance review to ensure that there is control on new risk that may be identified.
  • Develop a compliance framework to attain an independent view on the adequacy and effectiveness of your compliance framework, including compliance strategy, allocation of resources, reporting lines, management information, and preparedness for regulatory change.
  • Develop compliance monitoring system to outsource your compliance assurance activity.
  • Review your data protection framework and obtains advice in light of ever-increasing focus on data security.
  • Review your current compliance arrangements by drawing on our extensive knowledge of current best practice and our unparalleled view of peer group practices.
  • Defining and documenting a quality policy and quality objectives and ensuring that both the policy and objectives are understood and implemented by all employees at all levels;
  • Ensuring that appropriate processes are implemented to fully satisfy customer needs and expectations and Company objectives;
  • Defining and documenting the responsibility, authority and interrelation of key personnel managing the quality systems;
  • Providing adequate resources for implementing and maintaining the quality systems;
  • Conducting scheduled management reviews of the quality systems to assess their continued suitability, adequacy, effectiveness and efficiency; and
  • Deciding on actions for continual quality improvement.