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ACCOUNTANCY:-

Our accountancy department will provide computerized book keeping and accountancy services using various accountancy packages like Sage, Quick books, Tally, Systematics and payroll systems either manual or computerized. This involves writing of books and records of client up to the production of the final accounts. It can vary from “ shoe box” accounting where the client brings in all the input documents in a box and the accounts are done in the firm’s office, to where some of the primary books are already done and the firm completes the exercise either at the client’s premises or in the firm’s office. In both cases, there is a measure of dealing with incomplete records.

COMPANY SECRETARY:-

Our associate firm, Keymak & Associates, provides a wide range of advisory services on corporate governance.

As your secretaries we will carry out the following minimum statutory duties:

  • Preparing table minutes of approving the annual report and the financial statements.
  • Preparation of resolutions where an annual general meeting is not held.
  • Sending notices for the annual general meeting, attendance at the meeting and preparation of the minutes of the meeting.
  • Completion and submission of the annual return to the Registrar of Companies.
  • The use of office as the place where the statutory books of the company are kept.

As your secretaries we are also in a position to provide the following services subject to the scope of each service being agreed prior to undertaking the assignment:

  • Attendance at board and shareholders meetings, preparation of agenda and minutes.
  • Allotment and transfers of shares and issue of share certificates.
  • Advising the board of directors on matters related to the change of directors, change of registered office, and change of company’s name etc.
  • Guiding the board of directors on technical applications as per the Companies Act (Cap 486), and the Memorandum and Articles of Association.
  • Preparation of dividend warrants
  • Alterations to Memorandum and Articles of Association.
  • Increase of nominal and/or issued share capital.
  • Restructuring of share capital.
  • Indemnity forms for lost share certificates.
  • Guiding you through the requirements of company incorporation and handling the necessary paper work.
  • Carrying out company searches for information held by the Registrar of Companies.
  • Assisting in registration of business names and trade marks.
  • Assisting in having the company struck-off from the register held by the Registrar of Companies.
  • Obtaining a certified list of directors and shareholders for the Registrar of Companies.
  • Other matters pertaining to the corporate governance of your company.

AUDIT AND ASSURANCE:-

This service is provided by our associate firm Ooko-Mokaya & Co. Certified Public Accountants of Kenya registration number P.1431.

Our audit based and derived from all round experience of the partners. The firm is working towards an affiliation with one of the internationally accredited firms. The approach requires an understanding of the risks associated with the business and focusing our audit on areas considered high risk.

We understand the nature and size of the scope of the assignment, the style of management, the economic and legal environment in which the business operates and design our audit strategy based on this understanding.

The audit plan is developed in consultation with the client, thereby ensuring that the specific needs of our clients are taken into the account during the audit process.

In carrying our audit we attach importance to the underlying controls and reconciliation procedures. At the end of each audit, we issue a management letter. We take this opportunity to make constructive comments and suggestions on the control environment and operational issues. On subsequent visits we verify compliance.

Our audit strategy is designed to ensure that all audits are conducted in accordance with International Standards on auditing and comply with Audit Quality Control procedures. All audits are planned, controlled, recorded and reviewed, with a high level of partner involvement at each critical stage of the audit.

TAX ADVISORY:-

“Pay the right tax , set yourself free”

Tax planning with the objective that the tax burden is no higher than what it should be is of utmost importance. The growing complexity of the tax regime makes it difficult for any company to keep abreast of all the changes.

Our team at Basmark & Company provides advice on all aspects of corporation and personal tax. Tax advisory services will include local tax planning, international tax planning and special work such as arbitration and forensic accounting.Compliance work will involve reviewing the audit working papers to ensure that the tax provisions are fairly stated. Taxes include corporation tax, income tax, stamp duty, value added tax, customs and exercise and such other taxes.

As you tax agents, we advise you on the following matters:

  • Payment of installment taxes.
  • Review your tax computation.
  • Preparing and submit the self –assessment returns on your behalf with your statutory financial statements and other supporting information to the Kenya Revenue Authority.
  • Handle routine tax correspondence from the Kenya Revenue Authority and advising as necessary with regards to any issues resulting there from.

We are also in a position to:

  • Advising on preparing or assisting in the preparation of statutory returns as PAYE, NHIF, NSSF and other compliance returns.
  • Handling matters on examination in-depth and audits in respect of income tax, VAT and PAYE on behalf and agreeing the matter with the revenue authority.
  • Advice on the tax implications on proposed business transactions.
  • Provide tax consultancy and planning in areas of income tax, VAT, customs and excise and other areas of direct or indirect taxation.
  • Making objections and appeals on income tax, VAT,PAYE and other tax areas on your behalf and agreeing the same with the authorities.
  • Carry out health checks to ensure that you are fully compliant in all areas of direct taxation.

FINANCIAL ADVISORY:-

Our team at Basmark & Company has extensive experience in providing a broad range of financial advisory services. The services include:

  • Preparing project feasibility studies to ensure that ventures and business expansions are viable and sustainable in the long run.
  • Raising project finance to fund business expansion, new acquisitions and debt restructuring. We are also able to assist in determining the optimal financial structure and negotiating the finance through a host of intermediaries.
  • Guiding clients through the complex aspects of mergers and acquisitions and providing advice on the financial, legal and tax aspects of the transactions thereby maximizing value and reducing risk.
  • Valuing business or individual components by adopting valuation methods based on the nature of the transaction.
  • Carrying out financial operational due diligence thereby providing assurance on the financial and operational state of the business.
  • Transaction advisory services on privatization and business combinations, providing advice on the various options available, structuring the financial transactions, advising on the tax implications and identifying potential investors.

BUSINESS ADVISORY :-

Our team at Basmark & Company has extensive experience in providing a broad range of financial advisory services. The services include:

  • Formulating medium to long – term business plans setting out financial and non-financial parameters against which performance can be measured.
  • Preparation of product and service costing, financial and cash flow projections, key performance indicators and variance analysis are tools for effective business management. We can assist in the design of management information system that provides timely information for effective decision making.
  • Review and design of policies and procedures based on practices and facilitating.
  • We can review and design the financial accounting systems and the underlying controls and design systems that provide timely information.