Services Provided by the Firm

The following services are provided by the firm to its large clientele.

  • Statutory Audits of Public and Private Companies
  • Tax Compliance and Tax Consultancy Services
  • Management Consulting Services
  • IT Consultancy services

Further we also provide the following services through our Associate Firms:-

  • Internal Audits
  • Accounting/Book Keeping Services
  • Company Secretarial Services
  • Payroll Services
  • Legal Services
The total staff strength, including the Associate Companies/Firms, would be 48.

OUR SERVICES

  1. Statutory Audits of Public and Private Companies

    2. The firm undertakes to carry out:

    • Statutory and voluntary audits;
    • General and special audits;
    • Audits of Financial Statements prepared in accordance with Sri Lanka Accounting Standards.
    The firm is authorized by the Institute of Chartered Accountants of Sri Lanka to conduct audits of all types of commercial and non commercial organizations in Sri Lanka. We possess experience in carrying out independent statutory and voluntary audits, including audits of major industrial enterprises with a large number of branches and affiliates.

  2. Tax Compliance and Tax Consultancy Services

    3. Our specialist staff undertake tax audits and assist to settle tax disputes whereby the following types of work are carried out:-

    • Computation of Income for tax purposes in accordance with the Inland Revenue Act No 10 of 2006 and amendments thereafter.
    • Completing tax Return forms and submitting to Inland Revenue Department.
    • Advising on monthly/quarterly tax payments such as
      • VAT
      • ESC
      • Partnership Tax
      • PAYE
      • IT Self Assessment Payments
    • Professional support in the course of the inspection conducted by the Inland Revenue. Computation of tax after settlement of the disputes, if any, after the inspection.
    • Representing clients’ interests, with the authorities of the Department of Inland Revenue;
    • Preparation of financial documents for Arbitration;
    • Representing clients’ interests in all matters, with State Bodies including Tax Authorities and Arbitration.
    Having expanded audit work and connected services over the years, today the firm has the capacity to provide advisory services on the full spectrum of matters relevant to;
    • Tax Law
    • Labour Law
    • Laws regulating to activities of Commercial enterprises and not-for-profit organizations
    • Company Law

  3. Management Consultancy Services

    4. These days one of the most sought after field of consultancy is Management Consultancy. The firm offers the following services in the field of management and administration consultancy:

    • Conducting of a company’s peer review:
      • Financial analysis
      • Existing business processes analysis
      • Management system analysis
      • Analysis of how efficiently material resources are used (material surplus, finances, long-term assets)
      • Production costs analysis and expenses analysis
    • Financial management department – Assistance with elaboration and implementation of specialist systems of management, with a view to increasing effectiveness of the use of a company’s financial resources and conduct of business activity [including planning systems (budgeting) of financial and material flows];
    • Advising on aspects of optimisation of property and costing structure (with or without any tax mitigation schemes)
    • Analysis of existing investment projects and elaboration of tailor-made business plans taking into account of clients’ specifics;
    • Enterprise reorganization;
      • External – organizational: enterprise reorganization, segregation of business into independent enterprises, change of funding methods and direction of financial flows;
      • Internal – manufacturing: rearrangement in allocation of production facilities amongst work shops, segregation of non-profile, sideline production etc,
    • Debt rescheduling
    • Conducting an appraisal of investment attractiveness of enterprises – Analysis of investment projects and conduct of due diligence prior to solicitations of investments and credits;
    • Elaboration of corporate strategy and corporate management policies;
    • Analysis of document management systems, elaboration and introduction of advanced document management system;
    • Preparation of Procedure Manuals for clients.
    • Preparation of Valuation of Company Shares
    • Executive search and staff, and performance appraisal.
    • Assisting in the preparation of budgets, cash flows and variance analysis
    • Assisting in the preparation of project reports and feasibility reports for bank financing.
    • Assisting in obtaining BOI approval
    We also provide legal and tax consultancy services to middle-sized and large companies through our associate companies.

  4. IT Consultancy Services

    5. Specialists of our IT department together with the other specialists of the firm are able to assist in troubleshooting and problem-solving, IT related issues arising in the course of following work:-

    • Client review for implementation of IT systems
    • Development of information model of enterprise processes, establishment of information frames and Automated Working Places (workstations);
    • Development of customized software packages.
    • Advising on system implementation, undertaking training of users, etc;
    • Consulting on application of Accounting Software Packages;
    • System integration of clients (consulting on acquisition of hardware and software, network set up and network administration, software application, etc.,)
    • Development, installation and running of software packages in the field of management accounting.