Our Services

We consistently stay up-to-date on trends and regulatory shifts. We ensure that our clients’ financial accounting records adhere to IFRS. Specifically we offer the following accounting services,

• Design of Chart of Accounts to reflect the business operations,
• Computerization of accounting records,
• Full fledged bookkeeping services,
• Preparation of financial statements,
• Accounting system consulting, design and implementation.

Our reputation for offering professional, impartial financial advice to companies, individuals and partnerships has grown steadily. Why? We are client centric ! We work with our clients and become an extension of them literary .

Our philosophy is to combine a professional approach with innovative financial management advice. Our team and associates are experienced financial experts in different facets of financial management, committed to understanding your financial requirements and using their skills to assist in the planning, growth and sustainability of your business.

In this realm, we focus on business performance, financial systems infrastructure agility in financial data analysis and reporting. We ensure the accuracy and speed in financial management reporting.

Choosing the right tax management service for your business can save you unnecessary tax liabilities; and inaccurate and improper determination of taxes leading to tax penalties.

Our aim is to provide you with tax and other statutory returns solutions that in turn enable you to be tax-compliant.

Our services range from tax computations, tax returns filing, tax health checks and audits, tax exemption applications, withholding tax management, tax research services, V.A.T. returns, P.A.Y.E. computation and returns, among others. We also offer strategic planning related to tax avoidance and reduction techniques.

Talk to our team on ways we can help you manage your tax matters.

The need for risk assurance services is also rising as companies realise that positive risk management can add value and help create a performance culture.

Risk management will assist management and governance to:

• Improve the identification of opportunities and threats.

• Further develop the governance and control frameworks within your organisation.

• Help your organisation operate efficiently and contribute to improved performance.

• Aid decision making and planning by accounting for uncertainty and assessment of actions that may or may not have taken place.

At TK & Associates , we specialise in managing risk, enterprise and project related risks. We have a comprehensive range of risk management services designed to bring a new perspective to complicated issues within an organisation which include:

• Risk management consultancy: This involves undertaking a strategic review of the current and potential risks applicable to each business area and developing or reinforcing controls which addresses the risk.

• An extension of the risk management services  includes assessment of the robustness of existing risk management policies in the organisation and providing realignment solutions.

• offering risk management training to companies that are yet to embrace this aspect  of securing their resources. Our team is innovative and flexible, places great emphasis on value-added benefits. Services provided include:

The Firm provides assurance to stakeholders, that an organisation’s claims about its financial position, and the processes behind these claims, are true and fair. We provide a wide range of audit services. These include:

• Internal Audits
• Special Project Audits
• Value-for-money Audits
• Expenditure Verification for donor funds
• Due Diligence Reviews
• Forensic Investigation Audits
• Compliance Audits
• Accounting Information Systems Audits; Etc.

All our audit and investigation services are focused on identifying gaps and errors in processes and information. We recommend practical solutions to seal those gaps and correct identified errors. In choosing to work with us, you are assured of comprehensive and timely assurance reports aimed at improving your systems.

Administration of Grants can be quite a daunting task especially if you have multiple grants and grantees. We take away the pain of management of grants by providing an outsourced service where we would disburse the Grant to the Grantee and assist them to ensure proper and timely completion of financial reports and monitor compliance.

With TK & Associates Grants Management Service(GMS), you can be assured of:

• Quality of work in terms of documentation, communication and reporting,
• Timeliness on reporting and deadline management,
• Integrity, transparency and professional approach,
• Grants management training for grantees,
• Site visit reports, for assurance that grants are being used as designed in the award,
• Grant closing and disposal of any assets as required.

The value of a business is a key issue in connection with planned disposals, purchases, restructuring measures, the valuation of equity stakes, and the distribution of inherited assets.

The valuation process demands a detailed knowledge of business administration (cost and payment accounting, controlling, investment, finance, etc.), plus an in-depth understanding of the business sector in question and the general market environment.

Extensive practical experience and theoretical knowledge are preconditions for arriving at a sound assessment of a business enterprise.

Business Valuation Steps

TK & Associates services and issues expert opinions in the following typical scenarios:

• Purchase and disposal of business enterprises or parts thereof
• Determination and verification of appropriate compensation for excluded minority shareholders (squeeze out), also with regard to profit transfer agreements and/or subordination agreements
• Determination of swap ratios in connection with mergers
• Verification of capital increases on the basis of contributions in kind (business enterprises or parts thereof)
• Valuation of equity stakes with regard to incoming/outgoing shareholders and the distribution of inherited assets.

Documentation of Business Valuations

Depending on the specific evaluation scenario and functions, TK & Associates documents the valuation results in the following ways:

• Extensive expert opinions relating to business valuations
• Due diligence reports
• Fairness opinions
• Valuation Estimates
• Presentations

We offer this services for small to mid-sized enterprises.

This services is ideal for companies that are looking for a financial expert to enable them make growth decisions, conduct financial analysis to enable corrective actions on a declining business performance, reorganize their chart of accounts to be more reflective of the business operations and process to facilitate apt decision making based on key accounting areas.
The part time CFO chiefly incorporates the culture of financial management at every step of the entities processes to enable an appreciation of managing the companies resources.
CFO for Hire offer a blend of financial expertise at affordable costs and reduce the need for a full time CFO who could be costly and unwarranted at a time when a company is resource strapped and when in distress. You get full financial management services to steer into stability.

We conduct Compliance Audit Assessment informed by the UFA Act 2011 and UFA regulations 2016. UFA Act came to force in 2014 and all entities are mandated to comply.

With our experienced unclaimed assets auditors that has been involved in State Audits in carrying out UFA audits on Holders in various sectors we believe we shall be extremely useful to you.

We will assist you identify potential Unclaimed Financial Assets so that you closely monitor them,set reunification strategies and where not possible to reunite with its assets, remit what is due to UFAA within the threshold prescribed for each asset class and in your specific sector of operation.

Why Compliance Audit reviews? This avoids cash flow problems, waste of time and resources in court battles trying to resolve disagreements.

Is your Company compliant? Talk to us and let us help you resolve this aspect of compliance.

We assist you find the right finance staff for your organisation or company in cognizant of the complexity levels of your business environment. With our wide networks we link you up with ONLY the best. With a skill set that matches your organisation.

We provide you with project financial management, help you set up project timed financials monitoring tools, incorporate the right controls in key risk areas, furnish finance staff and assist you manage the budgets and report on the financial progress whilst rendering appropriate financial narratives to the activities of the project.

We assist you conduct a thorough financial assessment for partners you want to collaborate with and your organisations need the level of assurance they are a perfect match for you and can deliver on there areas of engagement. Help you develop partner monitoring tools and conduct training where needed to bring them to the project level requirements.

TK & Associates provides this aspect of financial management function in evaluating projects and enterprises to determine a number of important performance indicators to typically determine whether the business is investable, stable, profitable or whether it needs process re-enginering.
We help you uncover opportunities and save time on making the right moves or staying on course as a business. Identifying areas to keep tabs on,implementing cost management regimes and driving profits up. We keep you lean, profitable and aligned to appropriate benchmarks.

TK & Associates on client request take up specific data analysis in cases where clients are planning to make a specific financial business move, with our team of associates we ensure an in depth financial analysis and research is conducted and scenarios and impacts provided for to meet the specific analysis request.

Talk to us what financial management areas you would like us to analyse and feedback you on the findings and possible remedial actions.

Whether you are getting your organisation ready for a donor compliance audit or looking to meet donor requirements to have your organisation funded, our team will be there to support you. We are unapologetically organised as we get you ready for the audit in all parameters as per donor requirements and by extension ensure you inoculate yourselves with a culture of having nationally and international accepted standards of operating in the donor funded sphere. We get your books ready and set you up with proper accounting controls or realign you existing processes to meet the ever demanding donor funding requirements.

Our process of reorganising your operations and financial processes to manage reporting of donor funds is apt and we get your whole team involved to ensure the ethos of the would be donor funding target are met.

We offer capacity building in various facets of finance management for organisations. We capacity build personnel to manage and interrogate financial reports. We capacity build finance staff to be prepare standard financial reports and management reports.

We capacity build internal auditors to identify and manage risks in organisations and new projects and planning around multiple projects.

We help NGOs manage and report on grants awarded, train their sub-recipients on behalf based on donor requirements. Capacity build grantees on best grants practices and collaborative approaches of programme and finance staff to execute and close a grant.

Training and development of budgets-both basic operational and high-level budgets.

As our client we help you review project proposals and ensure all areas are covered and set up interactive budget tools to aid in effective monitoring, reporting and reviews.

We also assist you set up high level and complex budgets templates for purposes of monitoring and reporting on a variety of project activities.

SMEs do also benefit from our insistence of zero based budgets that help you justify budget line items and aided by detailed explanations. Zero based budgets sets you up the journey of growth and sustainability  and elimination of  resources wastage.

Statutory audit is designed to provide a reasonable level of assurance to users of accounting information. Most organisations are required to produce annual financial statements. Statutory Audits are mandatory for certain entities that satisfy the needs of a regulator or other interested party. Our team will help you meet regulatory requirements, as well as the particular needs of your organisation.

A major part of this is ensuring that your financials meet not only the high standards imposed by the International Financial Reporting Standards but also that they are fully compliant with the laws of the land. We work to ensure that your organisation is meeting all its obligations under the statutes and provide practical, proactive and up-to-date advice to help you continue to do so by providing insights for growth and sustainability in the present and future.

Organisations for which an audit is not a legal requirement may still decide to have an audit for a number of reasons.

some of the reasons for non statutory audits are to:

• meet your stakeholders’ expectations
• identify and address financial and system issues
• facilitate effective governance
• give you reliable information on which to base critical decisions.
• specific or special purpose

We are able to conduct audits that are required for the special projects purposes for  shareholders, investor pitching , parties to joint arrangements, construction projects, service charge audits or asset sharing audits.

Strong internal audit can help organizations be more effective by ensuring a robust overall internal control framework and flagging areas where control needs to be strengthened.

Whether a mandatory requirement or not, internal audit should be focused on helping organizations to perform better and in the most efficient way. We apply a strategic approach to internal audit, which is built upon gaining a thorough understanding of the risks that you face. We design our approach to target the areas of greatest risk and to integrate with other sources of assurance in order to maximize audit efficiency.

TK & Associates is also able to conduct internal audits, the product ranges from complete outsourcing arrangements to setting up an internal audit function.  We are able to provide clients with assurance that the right systems and controls are in place, assets are safeguarded, funds properly used and compliance with legislation.

Internal audit procedures are tailored to each client’s requirements as well as industry specific needs.

Let us know how we can support you in your internal audit functions.

TK & Associates team and associates provide a full range of forensic accountancy services.

We offer a different approach, team structure and cost efficiency  while still delivering robust advice and expert evidence based on the breadth of our experience. We are client centric and our approach is focused and proportionate and ensuring you can make informed decisions in a dynamic dispute resolution and investigatory environment.

Our forensic support experts have considerable experience of acting in fraud and financial investigations. Whether a local dispute with a contractor or employee TK & Associates has the resources and experience to react quickly and cost effectively to assist in resolving the dispute.

Reach out to us for more information on how we can help you resolve and curb fraud in your organisation.

A tax health audit – usually conducted by external tax consultant other than the revenue officers involves carrying out a detailed tax compliance review of all, or specific in-house taxes borne and administered by a company. Common taxes under this category are: Payroll taxes, withholding tax, VAT, corporation tax, customs and excise duty etc. It gives confidence in the level of risk a business has in relation to taxation in the following three ways:

• Establish any inherent tax risks through an in-depth and systematic review of your books of accounts;
• Establishing any risk of, and quantifying any potential back-taxes discovered during a review; and
• Providing advice on the mitigation and settlement of any such liabilities including engagement with the revenue office for a favourable settlement plan.

The tax authorities encourages voluntary/self- disclosure of back taxes and will in most cases exercise leniency by way of extending amnesty on fines, penalties and interest. This is possible where a voluntary disclosure is made, principal taxes paid in full and a formal application for waiver is lodged with the Commissioner by the defaulting taxpayer.

It’s hard enough to keep track of items we use on a day-to-day basis, like our car keys, phones etc but companies have an even harder job—that is, tracking and managing assets of every description that are spread across an enterprise. Yet your company’s fixed asset management processes must be able to do the job accurately and well, feeding critical data into reporting and compliance processes. As your Accountants we will explore how improving fixed asset management processes can drive down regulatory risks, maximise return on capital investments, deliver greater control and reporting capabilities, assist in fraud prevention and reduce unnecessary costs.

WHY CONTROL YOUR ASSETS?

• For Insurance -To ensure your organisation is paying the most accurate premiums,
• For Accountability – For departments and individuals to account for what they have been allocated
• To avoid unnecessary purchases – Without organisations knowing exactly what they have, they are likely to make a lot of unnecessary procurement of assets
• Proper and accurate reporting-Organisations charge depreciation on assets held and if proper records are not maintained, then overstatement and understatements are bound to occur in the various reporting statements of the entity.
• Other reasons are for Litigation, Disaster management, leasing control, Tax benefits via depreciation, security, due diligence and maintenance