At Global Accountancy we believe that the Internal Audit service is about delivering the optimum level of assurance for the lowest cost, and in doing so, freeing up vital resources. Heads of Internal Audit are more accountable than ever before that their key risks and issues, and subsequent risk management processes, have the right level of assurance.
Corporate scandals in the USA and UK which have come to light in recent years, underline the critical importance of internal controls in all businesses. Lack of an efficient system of internal controls in companies puts its operations at great risk. Frauds may take place within a company, perpetrated perhaps by the trusted manager with the least suspicion by the boss or the owner-managers, causing shock waves and regrets when it comes out, probably with a crippling blow or even total collapse. Global Accountancy is equipped to assist its clients with an in-depth review of existing systems of internal controls with a view to maximising its effectiveness.
Tick boxing in auditing is simply not acceptable in today's' environment. All organisations are facing constantly changing pressures, regulatory changes, market pressures or simply organisation development.
Our team of Internal Audit and Risk Specialist ensure that you are tackling the right risks, improve and align your governance, risk and control frameworks. We can provide independent advice to your Board, the Audit Committee, Management on your organisational risks and the state of your controls, and work with you to implement any improvements that are needed.
Issues that Companies may face* Concern over for key controls and the risk exposure
* Intend to set up a new Internal Audit function
* Poorly valued or none existing Internal Audit function
* Little or no senior Internal Audit experience
* Internal Audit function does not have the required expertise where the risk areas that are identified
* Acquisition or change of business activities require increased Mandatory regulatory compliance
* Multinational companies operating in many countries or experiencing significant growth
We can assist in;* Risk Management
* Internal Controls Assurance
* Review of the effectiveness of your Internal Audit function
* Self Assessment
* Internal Audit Outsourcing and Co-sourcing
* Training Tools and Techniques
The Tax Department is headed by partners, who have a wealth of experience in a variety of complex tax issues. The department has specialists in tax efficient structuring and estate planning, as well as dealing with onshore and offshore private clients and corporations.
The department is particularly strong in the area of domicile and residence and advises clients coming from overseas to the UK and often liaises with the senior executives of overseas companies on issues of tax residence.
Everyone knows that a successful business must plan ahead, but all too often the pressures of keeping the business going on a daily basis mean that strategic planning is not given the attention it needs. The result is often rushed judgements, over or under-capacity, or missed opportunities. Every business owner needs a planning adviser who has the time and space to take the long view and advise on appropriate courses of action before it is too late. With years of experience advising the local business community we have a wealth of experience and expertise for you to draw on. We can build a business plan for your business, formulate a strategy to approach the banks when you try to raise any financing you need. In the current economic climate and with the banks being rather reluctant to let go of their cash, there can be no guarantees, but giving the banks what they want will give you your best chance.
You want to start a business. We will provide all the necessary background support. Here are just a few of the ways we can help you get started:* Preparing a comprehensive business plan
* Determining the best structure of your business: sole trader, partnership, limited liability partnership, or limited company
* Where appropriate, assisting with company formation and company secretarial duties
* Registering your new business with the Inland Revenue and, where appropriate, Customs and Excise
* Establishing relationships with banks, insurers, etc
* Preparing cash flow projections and assessing finance needs
* Preparing and submitting finance applications
* General bookkeeping, VAT, and payroll duties
* Tax planning
* Management accounts
* Annual accounts