In order to render quality service to clients, we have organized our firm into various specialized departments in all aspects of our professional works as detailed below:
REVENUE MOBILIZATION, BUDGET PLANNING, EXECUTION & MONITORING
This aspect of our services is anchored by our Managing Partner together with Senior Partners of the firm who have acquired wealth of experience in these areas and have assisted a number of government agencies in this regard. Details of assignments in this respect could be worked out and discussed on invitation.
Our Audit Practice is made up of the followings:
The company carries out audits based on client’s engagement instruction to:
- Examine the books and records of the client for the purpose of statutory and annual reports and accounts in line with the requirements of the Companies and Allied Matters Decree 1990.
- Ensure that the financial statements reflect a true and fair view of the financial position of the client at the balance sheet date and of the results for the year ended on that date.
- Ensure that the financial statements have been prepared using appropriate accounting basis and policies applied consistently from year to year.
- See that the client has maintained proper accounting records.
- Confirm that the financial statements agree with the accounting records.
The company’s objectives regarding taxation (including deferred taxation) is to provide a reasonable basis for an opinion whether:
- All transactions and adjustments affecting taxation accounts are recorded;
- All recorded transactions and adjustments on taxation are proper ones;
- The tax charges including V.A.T provided in the profit and loss accounts are accurate;
- Liabilities for taxation at the year-end are fully provided and those provisions no longer required are released.
- Assets in respect of taxation are fully recoverable and justifiable.
- The basis of accounting is appropriate and consistently applied.
- Special features have been adequately dealt with and identified for disclosure.
In addition to the foregoing, we undertake:
- Registration of clients with tax offices;
- Preparation of tax computations in accordance with the applicable laws.
- Lodgment of tax computations with the Tax office;
- Procurement of Tax Clearance Certificates from the appropriate tax authorities,
- Capital allowances Certificate procurement;
- Tax advisory services that would enable clients to obtain maximum benefits under the provisions of the current tax laws of the country.
Relevant expertise is brought to bear on each assignment to ensure that all tax allowances that are available to the client are claimed.
In situations where the client does not maintain proper records of its transactions in a form that can enable an opinion to be expressed on its financial statements or where the client specifically requested for our services, we do assist in compiling and updating the following books of accounts:
- Purchases and Creditors Ledger
- Any other record that may be necessary.
The General Practice Department in the company handles the following professional services:
INTERNAL AUDIT CONSULTANCY SERVICES
- Design and installation of internal audit processes in line with the internal control features relevant to the client’s needs.
- Preparation of relevant operations and procedures manuals for efficient and effective maintenance of high-quality internal control of the client’s business.
- Establishment of in-built internal checks and balances for daily monitoring and supervision of finance and accounting functions.
BUSINESS ADVISORY SERVICES
SKYREX CONSULTING LIMITED offers:
- Business advisory services on the best sustainable relationship with our client’s bankers and other stakeholders in the business.
- Professional advice on the optimal mix of banking facilities suitable for the client’s funding requirements.
- Professional advice on cost reduction methodologies in order to maximize profits.
- Provide guidance on various methods of investing funds that are surplus to client’s immediate requirements.
- Review of bank accounts, charges and interest, miscellaneous debits and credits.
CORPORATE PLANNING SERVICES
This Division assists clients in the following areas:
- Preparation of annual budgets and other financial projections both on the short and long run.
- Documentation of Work Processes, Procedures and Business Re-engineering.
- Operation of efficient and effective budgetary control system suitable to the client’s needs.
- Preparation and management of business cash flow projections and accurate, reliable and efficient monthly reconciliation of it for the purpose of annual reports and accounts.
- Construction of accurate and reliable Fixed Assets Register.
- Design and implementation of flexible and standard identification codes for the fixed assets of the client.
- Fixed Assets enumeration.
OTHER SERVICES RENDERED BY THE DIVISION INCLUDE:
- Reporting Accountants Assignments
- Insolvency, Liquidation and Business Turn-around
MANAGEMENT CONSULTANCY SERVICES
The Department renders services to clients on:
- Management accounting and information systems design and implementation.
- Computerized Information Technology
- Feasibility studies preparation
- Personal/Specialized Studies.
- Recovery of excess and erroneous bank charges from banks