OUR SERVICES
We offer engagement to examine our client’s financial statements and to
evaluate the fairness of presentation of the statement in conformity with
international standards in Auditing which include, review of the system of internal
control and tests of transactions to the extent we believe necessary. Under this
banner we offer the following audit and assurance services.
Statutory audit provides the highest level of assurance. It is a methodical
review and objective examination of the financial statements, including the
verification of specific information as determined by the auditor or as
established by general practice.
Internal audit is an oversight function, an independent appraisal activity
established within an organization, and provides assurance to the shareholders,
board, and management by reporting on;
• The effectiveness of the existing internal control systems
• Reliability of the internal control system
• Management and control of the organization’s assets
• And compliance with applicable legislation and regulations;
By use of ICPAK-certified audit software.
We provide internal audit solutions which range from the total outsourcing
of the internal audit function to outsourcing its supervision or setting out an
independent internal audit function. This is extended to advising clients to
make effective use of internal control systems and computer-assisted auditing
techniques.
The investigation is likely to be similar in many ways to an audit of financial
information, in that it will include a planning stage, a period when evidence is
gathered, a review process, and a report to the client. The purpose of the
investigation, in the case of an alleged fraud, would be to discover if a fraud
had actually taken place, to identify those involved, to quantify the monetary
amount of the fraud (i.e. the financial loss suffered by the client), and to
ultimately present findings to the client and potentially to court. Fred M &
Associates help our client through forensic Audit..
Performance or value for money audit;
Special audits and investigations;
Review and implementation of internal audit functions, including
outsourcing; Attestation of Documents ,Inventory Audits.
Our vast experience in this field has enabled us to deal with the tax affairs of
corporations as well as individuals in various fields of industries: Reviewing the client accounting system and determining that there is
sufficient compliance with all tax requirements. Any non-conformity will
be reported and necessary actions suggested for correcting the same. Computing and advising on year end corporate taxes payable and due
dates of submission. Due diligence on client tax status for the company and directors as
regards KRA. Completing and submitting statutory tax returns of companies and
individuals on the due dates. Review annual Pay as You Earn (PAYE) returns followed by submission on
due dates. Unlimited telephone support on various tax matters arising from unique
transactions of an entity.
Tax advice and planning are of universal business importance, ensuring that
the tax burden is no higher than it should be.
Our Tax division recognizing that taxation constitutes a major business cost is
able to provide advisory, agency and tax compliance services in areas of
income and corporation tax, value added tax, custom and excise tax and
other direct and indirect taxes. Our tax team has a reputation for creative
solutions tailored individually to meet the client needs.
The range of services provided by our tax division includes, advising on tax
planning, in terms of:
Business tax check for purposes of advising on compliance and tax
planning. Handling VAA Inconsistency. Acting as tax agents for submission of tax returns, as well as attending
to routine queries from tax authorities. Registering with tax authorities and assisting in dealing with income tax,
value added tax and pay as you earn audits and investigations. VAT Audit and facilitation of refunds where applicable..
Under this banner, Fred M & Associates works with organizations to improve
their performance, primarily through the analysis of existing organizational
problems and development of plans for improvement. We also provide
organizational change management, assistance, development of coaching
skills, technology implementation, strategy development, or operational
improvement services.
In the ever changing business world, restructuring to reposition the company
may become necessary. We offer assistance in reorganizing the ownership,
operational or other structure of the company for the purpose of making it more
profitable or better organized to meet its present needs.
Under the accounting we offer different services.
Book keeping and Accountancy , Payroll Administration , Accounts Review , Training on Financial Accounting
Where we undertake the actual posting of entries in the accounting system
either on client site or at our site in which case the client has to avail the
necessary documentation to us. At the end of every month, we provide the
client with specific reports necessary for management decision making. We
also provide detailed management accounts with notes and explanations on
monthly or quarterly basis as may be agreed.
This is where we undertake the management of client payroll by ensuring that
payroll accounting is done timely and accurately to meet both the client
needs and the regulatory compliance requirements. We also conduct
specialized payroll reviews to ensure compliance to the Income Tax Act. We
have various specialized local software which we use based on specific client
needs.
This is a key component of accountancy that adds value by supporting the
client accounting staff by reviewing work done on a monthly basis and
reporting to the management the extend of accuracy and reliability of the
work.
The key component is that Fred M & Associates offers a wide variety of financial
accounting and finance training courses to our clients so that they can gain
the knowledge of financial management today. Some of the training offered
are Quick Books, tax, and others according to the client’s specification and
needs and support, and general support on accounting systems: specialist. The
firm has over five years of post-qualification experience and is well conversant
with audits of Cooperatives
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