AUDIT AND ASSURANCE SERVICES
EXTERNAL AUDIT
Our responsibility is to express our independent opinion on whether the financial statements are properly drawn up in accordance with the relevant Financial Reporting Standards so as to give a true and fair view of the results and the financial position of your company. In this regard, we believe that our value to you lie not in the audit opinion alone but in the quality of the services given during our continuing engagement as auditors.
Our approach to the audit is focused on ensuring the integrity of financial information and designed to be efficient, cost-effective, highly focused and directed towards achieving specific audit objectives. In addition, we value-add by working with you to develop ways to better improve the internal controls of your company.
FINANCIAL STATEMENTS COMPILATION
Compilation is often the result of an accounting service known as write-up work. With compilations, or compiled financial statements, our responsibility is to convert the data provided by the client into financial statements without providing any assurances or auditing services. A compilation of financial statements report assures that information is put together with professional competence and due care.
SPECIAL REVIEW
A special review entails a comprehensive and objective review of the results of operations and the financial position of the business. It provides management with feedback on key areas and issues to enhance profitability and contain costs. Certain engagements may be required to by the parent company to issue review opinion assurance on the interim financial statements.
AGREED-UPON PROCEDURES
We provide our clients with audit assurances beyond the financial statements audit on certain account balances via utilizing the non-financial statement report such as Philippine Standard on Related Services (ISRS) 4400, “Engagements to Perform Agreed-upon Procedures Regarding Financial Information”
These engagements will typically involve:
- Cost/expense verification for third parties such;
- Revenue verification for third parties;
- Compliance with contracts;
- Analysis and testing debtors and creditors’ balances
- Special investigation and assessment of the company’s internal control policies
- Detailed investigation of the inventory or stock turnover and reliability of its balances
- Special study of any matter or issue related/ not related with financial, accounting and other information for the company’s business.
- Any other special reporting.
PFRS CONSULTATION AND CONVERSION ASSISTANCE
We provide advisory services to assist our clients in their compliance with the Philippine Financial Reporting Standards (PFRS). This includes determining the accounting implications, staffing requirements and the overall effect to the financial position and profitability of the client.
DUE DILIGENCE
Due diligence is the process by which confidential legal and financial information is exchanged after significant review and appraisal by the parties to a merger, acquisition or substantial asset transfer. In other words, it is the analysis, investigation and professional assessment the financial institution should take before entering into an agreement or a transaction with another party and requires continuous efforts to ensure all financial records and relevant information are analyzed and verified. It should enable the relevant parties to understand fully the business of the target company and to identify and address any material areas of concern.
All businesses involved in acquisition or mergers as buyers or sellers must ensure that all financial information exchanged are verified and accurate, not only to prevent the buyers from paying more than the purchase price (or in the seller’s case, receiving less than the asking price), but also to ensure that their governance and risk management objectives are fulfilled.
The followings are the four basic areas of concern that can give assurance as to the operational and other viability of the target company.
- Financial due diligence
- Legal due diligence
- Technical due diligence
- Business/Commercial due diligence
TAX SERVICES
TAX COMPLIANCE REVIEW
Our experienced tax advisers are trained to assess the client’s tax position, based on their respective registrations with regulatory agencies, to determine compliance with relevant tax or special laws.
TAX INTERNAL CONTROL REVIEW
Our professionals provide practical recommendations on how the client can improve their compliance to the various taxes they are subject to.
INCOME TAX PREPARATION FOR CORPORATIONS AND NON-INDIVIDUALS
We assist in the preparation and filing of the Income Tax Returns for Corporations, Partnerships, and other Non-Individual entities.
INDIVIDUAL INCOME TAX PREPARATION FOR CITIZENS AND RESIDENT ALIENS
We provide quality assistance in preparation and filing of the Income Tax Returns for Resident and Non-Resident Filipinos, as well as Foreigners residing in the Philippines.
TAX PLANNING
Tax season is a difficult time of the year, but with our professionals on your side, it doesn’t have to be. Our expert team is ready to support you with their extensive experience in tax planning, making it quick and painless for you to comply with tax requirements, and relieving your company from time-consuming, non-value adding procedures. As all business decisions today have tax implications, it is important for you to manage the tax requirements of your business efficiently.
BUSINESS REGISTRATION AND REGULATORY COMPLIANCE SERVICES
BUSINESS REGISTRATION
We lend our years of experience in providing a smooth company incorporation process to or clients. This includes determining client start-up capital needs, identifying the ideal business structure based on industry best practices, among others.
REGULATORY AGENCIES REGISTRATION
We facilitate our client’s registration to various regulatory agencies, allowing them to quickly get from the planning to the operations stage of their business.
Our expert team is ready to support you with their extensive experience in tax planning, making it quick and painless for you to comply with tax requirements, and relieving your company from time-consuming, non-value adding procedures.
RISKS AND BUSINESS ADVISORY SERVICES
INITIAL AUDIT REVIEW
We provide outsourced/co-sourced internal audit services to evaluate the internal controls of business processes and provide an independent review on the operations, risk management and financial reporting processes. Where applicable, recommendations will be made to improve the overall state of the internal controls and process efficiencies. We can also assist organizations in implementing Internal Control Self Assessments and continuous monitoring of key controls for business processes.
FRAUD INVESTIGATION
We assist clients in conducting corporate investigations on how fraud has occurred and who is responsible. Types of Investigations that we can undertake include accounting irregularities, whistle-blowing allegations, asset misappropriation, and corruptions.
GENERAL ACCOUNTING SERVICES
ACCOUNTING SOFTWARE INSTALLATION
We provide our clients access to licensed installation of QuickBooks and Sage (Peachtree), accounting information systems ideal for small to medium-sized business. A streamlined recording and reports-generating process allows the client to have timely financial information necessary in making important business decisions.
ACCOUNTING SOFTWARE TRAINING
We have trained QuickBooks and Sage (Peachtree) advisers ready to provide step-by-step training in setting up, and customizing these programs in order to provide more relevant reports to the end-users.
RECONCILIATION SERVICES FOR CASH IN BANK, RECEIVABLES, AND PAYABLES
Our trained staff will provide efficient services in the reconciliation of cash in bank, receivables, inventories, and trade and loans payables balances. We also provide detailed, understandable and timely reports for the client’s use in management business decisions.
PAYROLL SERVICES
We provide outsourced payroll services, which includes the relevant remittances of mandatory salary deductions to the proper government agencies. This is especially ideal for clients who prefer their payroll preparation to be confidential.