Financial statement audit
Comprises the examination of a company´s financial statements according to generally accepted auditing standards for the purpose of expressing an opinion about the reasonableness of the financial position and income statement of the respective fiscal year, in accordance with accounting principles and their consistent application. Consequently, we have developed a set of tasks with the following salient features:
- First fiscal year audit
This task is conducted only during the first year of a company´s financial statement audit. The additional time input this work requires is borne by our firm since we consider it essential for better servicing our clients. Although previous financial statements have already been audited, we perform a series of tasks geared toward acquiring in-depth knowledge of the company and examining its initial financial position.
- Recurring audit work
During this examination, generally accepted audit standards are put into practice, including all tests on accounting ledgers and documents, or other auditing procedures deemed necessary to later produce a financial statement report. Although this notion is common to all auditing work, we consider the need to highlight certain features of our approach. Streamlined techniques and the timeliness of their development differentiates our service delivery approach, as explained below:
- Transaction flow examination
Although the examination´s end purpose is to verify account balances comprised in the financial statements at year end, we especially underscore examination of the information flow arising from such balances. This approach enables us to pay special attention to internal control measures inherent to the company´s core transactions (invoicing, collection, payments, etc.). Through this method we can not only assess system quality, in terms of obtaining the appropriate accounting balances, but also attain a deeper understanding of the full process to later provide the most adequate suggestions for improvement. On the other hand, our work is based primarily on selected samples which do not include an audit of all transactions. Yet, the examination is planned to focus on errors or irregularities that might have a significant bearing on financial statements.
Comprises the examination of work done in specific areas to assess the efficiency of results obtained. It enables the submission of timely suggestions to optimize a company´s income results. Our audit approach, as described above, implies the performance of tasks according to operating audit goals. In addition, it is aimed at highlighting any non-compliance with documented procedures and control rules which, if not appropriately monitored, may jeopardize company assets.
Aimed at providing constant accounting advice, based on the close communication achieved as a result of service delivery throughout the period.
Assessment of internal control system
Statutory Audit Committee
Preparing and reviewing tax returns for individuals and legal entities
This work is the result of analyzing best client alternatives comprising the following:
- Planning fiscal year tax position through prior analysis and discussion with company executives of operations and results, fiscal and accounting criteria, tax rebates and other applicable advantages.
- Acquiring specific operating knowledge through support documentation analysis.
Incluye la atención de todo tipo de consultas, que pueden estar relacionadas con:
- Assessment of applicable alternatives.
- Adjustment of tax assessment items.
- Specific issues (foreign investments, technology, industrial promotion, and corporate reorganization, etc.).
- Organization´s future fiscal position (tax planning).
- Tax incidence overseas.
Defense before fiscal and judicial bodies
This service, delivered with the support of company counsel, where applicable, comprises the following:
- Drafting and submitting pleadings (response to official reports, resolutions, and filing appeals, etc.).
- Acting before Federal District, provincial and municipal Tax Courts.
- Acting as ex parte expert witnesses.
- Assistance to in-house corporate counsel.
Main services delivered by this unit include the following, among others:
- Staff recruitment.
- Payroll and employee benefits processing.
- Preparing submissions before oversight bodies.
- Legal Advisory.
Advice to SMEs.-
In our country some companies grew and developed at a different pace from their organizational structures. Therefore, businessmen were forced to manage business dealings within an increasingly complex framework. Consequently, the following problems are sometimes observed in SMEs:
- Organizational limitations:
Situational issues tend to overwhelm managers and take time away from their specific activity thus preventing them from full-time involvement in general business supervision and planning tasks.
- Poor information. Information is generally incomplete or incorrect, and, most importantly, does not fulfill reliability and timeliness requirements which are necessary for:
– Estimating costs and pricing
– Possible financial plans for granting or attracting credits
– Determining results by area or product line
– Improved efficiency
Our firm has created a highly specialized working team in Small Businesses?, or companies that are small in structure, dealing in all types of activities which require special previous and specific knowledge of each line of business. The degree of skills developed by our team has enabled us to achieve truly positive results in the following service delivery:
- Current and projected business analysis.
- Legal concept to be adopted and tax planning.
- Designing and implementing operating and control systems.
- Follow-up, supervision and updating of implemented systems.
- Assessment of processing means.
- Planning, supervising and speeding up information delivery.
- Defining and implementing a reliable, timely and clear set of reports.
- Accounting Advisory.
Business planning and supervision
- Financial, economic and tax planning.
- Investment project assessment.
- Analysis, interpretation and discussion of results obtained.
Administration and Accounting Services.-
Information Administration and Processing
- Invoicing and Collection.
- Supplier Payments.
- Treasury Management.
- Processing and posting Company transactions onto our equipment.
- Drafting Financial Positions, Income Statements and Management Reports.
- Recommending tax policies and decisions to be applied.
- Supervising recorded operations from a tax standpoint.
- Drawing up monthly assessments of gross income taxes.
- Drawing up monthly value added tax declarations.
- Drawing up yearly tax returns: – income tax returns – value added tax – gross income tax
- Calculating monthly advance payments in relation to yearly tax returns.
- Technical assistance in the event of inspections by supervisory authorities.
- Drawing up all recurring presentations regarding the above mentioned taxes or any future taxes replacing the former.
Preparing Balance sheets
Preparing Financial Statements at period end.
The firm comprises professional accountants specialized in corporate matters. In addition, we have full time attorneys devoted to corporate issues ensuring outstanding service delivery.
This unit provides the following main services, among others:
- General business law advice, operation of business corporations and civil associations, their charters, transformation, mergers, spin-offs, liquidation and other formalities.
- Corporate by-laws amendment, change of corporate name, change of registered office, preliminary by-laws, certificates of incorporation, etc.
- Board of Directors operating principles and respective Minute Book upkeep.
- Notice of Regular and Special Board Meetings, preparing respective Minutes, Board of Directors´ Annual Report and related documentation.
- Bookkeeping: Minute Book, Shareholder attendance register, Shareholder register, stock issue and dividend distribution.
- Capital increase, with and without by-laws amendment.
- Presentations and other transactions before the Regulatory Agency for Corporations – IGJ – Public Registry of Commerce -.