A” OUR SERVICES ON OFFER.
Our approach is customized to meet unique needs of different clients through extensive understanding and planning of the assignment. We work closely with the client to ensure that the solutions proposed are compatible to their objectives.
We, as associate firms, offer a wide range of services which can be broadly classified as Accounting / Audit, Taxation & Advisory services. These services can be broken down as follows for simplicity of understanding.
a) Legal secretarial services.
b) Financial Accounting services.
c) Auditing services.
d) Taxation services.
e) Specialized consultancy services.
f) Business transitional services.
Details of tasks under each service head are as itemized below.
LEGAL SECRETARIAL SERVICES
Alexander Registrars is our associate firm of Licensed Certified public Secretaries. They handle all matters to do with the Registrar of Companies right from company formation.
Some of their salient functions and roles as Legal Secretaries are as follows.
- Preparation of annual return and filing the same with the Registrar of Companies.
- Attending to the opening and maintenance of company statutory records such as certificate book, register of members & minutes book.
- Preparation of minutes on Annual General Meeting & approval of the audited accounts.
- Custodian of the company seal.
- Monitoring and ensuring compliance with the Memorandum & Articles of Association, where practicable.
- Change in share capital.
- Changes in share allotment.
- Share transfers and registration.
- Changes in Memorandum & Articles of Associaton.
- Changes in company directors.
- Attendance of any board meeting.
- Immigration work related.
- Legal proceedings.
- Company formation
Alexander Consultants Ltd is our associate firm which deals with Financial Accounting assignments. They are able to offer total services for accounts so that you may not need to hire your own staff. Some of their function will include:
- Keeping updated accounts on double entry system.
- Sending Management Accounts periodically in the form and style required.
- Preparing monthly payroll with statutory deductions:
i) PAYE (Pay as You Earn)
ii) NSSF (National Social Security Fund)
iii) NHIF (National Hospital Fund)
iv) Pension Deductions
- We will file the all the above statutory monthly online and arrange to obtain the cheques from you and pay into the Banks or deliver to the relevant authorities on monthly basis.
- Preparation of final accounts for audit and handling all outstanding issues on audit.
Ashwin Brothers is our associate firm which deals with Audit assignments. There are normally three types of audits
1) Statutory audits.
As per Kenyan Companies Act, every limited corporation must have their financial statements audited by an independent qualified auditor. The financial statements must be reported in accordance with either full IFRS or IFRS for SME. Accordingly, the tax returns filed with the Revenue Authorities must be accompanied by audited accounts. The audit should not have any limitations as to scope.
2) Internal audits.
These are audits tailored to evaluating your internal control systems and operational models and recommending further improvements necessary to achieve much needed efficiency. These audits are not mandatory and are initiated by the company management team when need arises. The terms of engagement sets up the scope.
Our approach ensures that the company adds value to its processes and strengthens the control environment through highlighting the weaknesses and making a follow up on implementation of the agreed recommendations. This will enhance efficiency in company’s processes and may lead to cost reduction in the long run.
3) Forensic audits.
These audits are investigatory in nature. They are initiated by the stakeholders when the management style, character and motive of certain decisions become suspect. Again, these are not mandatory. The scope or limitation of assignment is always set up by the appointing authority for the service and has to be within the confines of applicable laws.
Alexander McDonald & Scott is our associate firm which deals with Taxation Assignments. Below are just but some areas surrounding taxation work.
1) General tax planning and administration.
2) Coordinating & supervising and or conducting specialized tax health checks/clinics carried out by us.
3) Facilitation of Corporation Tax, VAT, PAYE and Withholding tax in-depth audits carried out by Kenya Revenue Authority. This would include discussion of audit findings and answering queries thereof.
4) Liaising with KRA personnel on all matters of taxation affecting a particular taxpayer.
5) Dealing with objections and appeals against non-agreed assessments issued by the relevant tax authorities.
6) Major tax consultancy and projects and other special assignments on tax issues that would require extensive research, consultations and preparation of a report.
7) Dealing with queries on taxation as directed by interested parties.
8) General correspondence with clients and Kenya Revenue Authority (KRA).
9) Visits to KRA offices to sort out client tax matters including reconciliation of statements.
10) Checking, tax re-computing, completing and submission of all tax returns and advising clients accordingly.
11) Checking of financial statements and tax computations and giving appropriate advices.
12) Dealing with client’s tax compliance certificate matters and ensuring that they are obtained from KRA well in good time. Tax compliance certificate is a vital document when participating in public tenders.
13) Coming up with innovative ways of improving the tax department operations and being instrumental in conceptualization of ideas.
14) Maintaining strict confidentiality on all the clients’ tax matters.
15) Maintaining high standard of professional ethics and integrity in conduct of tax assignments.
SPECIALISED CONSULTANCY SERVICES.
Alexander McDonald & Scott is our associate firm which also deals with these engagements. Some of the engagements include.
1) Business Due diligence.
2) Business Restructuring and setting Strategic Goals & Business Plan.
3) Business valuations.
4) Project management & financing.
5) Receiverships and Insolvencies.
7) Litigation support services including preparation of expert reports for use in commercial litigations.
BUSINESS TRANSITIONAL SERVICES.
Once the company is registered, there are sequences that follow. It is important that these sequences are well observed or followed to ensure smooth running right from the onset.
Our transitional services are aimed at ensuring that this is achieved. They are more of services which translates us as walking sticks for the company till it stands on its foot.
We only offer these services at request by stakeholders but definitely at a small fee.
Some of these services include:-
- Obtain from Kenya Revenue Authority (KRA) your PIN (Personal Identification Number). In the process of obtaining PIN for the Company we may require to have PIN for each Director of the Company. The Non-resident Directors may cause us difficulty here. In such a situation we would require alternate approach.
- Once PIN is obtained you will then be able to open a Bank account in Kenya. Several documents will be required by the Bank, Our Company Secretarial Department will be happy to assist with these. If need be, we may be engaged in daily running of the bank account once opened to ensure efficiency, accuracy and transparency.
- We will also then obtain a trade license for you. To be able to do this the Nairobi City Council will require a Rental Lease Agreement and a visit to the business premises prior to issuing a license. We facilitate for this. This trade license is renewable annually.
- You will then need to print your letterhead, invoices, stationery etc. with the correct address of your office. We also facilitate this.
- Once Bank account is established or while it is being done, we will assist you on drawing out an operational budget so that your Head office or stakeholders knows your approximate cash requirements.
- You will then short list employees you may require to hire. We can facilitate this including drawing out the employment contract in line with Employment Act, Laws of Kenya.
- We will give our professional input on the Tax aspect of the employee’s remuneration so that these are Tax efficient.
The company is subject to receive various mails and which will often require urgent attentions. We could be entrusted with this task.
“B” OUR FEE STRUCTURE FOR VARIOUS SERVICES.
Each of our associate firms, though run under one roof and top management, is autonomous and separately raises its own bills.
Mutual satisfaction is an important feature of our long term client relationship. Our fee is intended to be both competitive and realistic in relation to the time spent, the degree of responsibility involved and the category and skills of the staff involved on the work.