CORPORATE PROFILE OSIFO-WHISKEY & CO. (CHARTERED ACCOUNTANTS)

Transcription

1 CORPORATE PROFILE OF OSIFO-WHISKEY & CO. (CHARTERED ACCOUNTANTS)

2 TABLE OF CONTENTS PAGE 1. Introduction 2 2. Profile of the Firm 3 3. Scope of services rendered 3 4. Profiles of the Firm s Partners 6 1

3 1.0 INTRODUCTION We have the pleasure to introduce our firm and its services to your organization. 1.1 Osifo-Whiskey & Co. (Chartered Accountants) is an Indigenous firm of Chartered Accountants with a global outlook established in 2007 under the authority of CAC and ICAN, 1.2 The firm has highly qualified and experienced professionals who have acquired extensive knowledge and skill in Professional Practice and Allied Services. For the purpose of emphasis, our services in diverse areas include: Accountancy Services Statutory Audit Investigation and Cost verification Taxation and Tax Management Bank charges Audit / Forensic Audit Value for Money Audit (VFMA) Accounting system and Internal Control Setup Business Valuation, Reorganization and Restructuring Due Diligence Services Financial Advisory Services and Fund Raising, (Local and International) General Management Consultancy Training and Manpower Development Insolvency Services (Debt Collection) Company Incorporation and Annual Returns with CAC Credit Management Services Recruitment of Employees for clients Revenue Generation Drive Mergers and Acquisitions appraisals Receivership and Liquidations Prospectus and Accountants Report Procurement/Contract reviews 1.3 The firm currently has fifteen (15) professional and supportive permanent Staff. Out of these, seven (7) are professionally qualified Chartered Accountants (Partners inclusive) 1.4 Our clients include companies in manufacturing Industries, Commerce, Banks and Finance, Oil & Gas, Federal and State Government Ministries, Parastatals and Local Government Authorities. The range of assignments we have undertaken and clientele base have enabled us gain unique experience in undertaking the tasks, which may be required by your company. 1.5 This document is made available strictly on request, to our potential clients. It is in no way meant to act as an advertisement or publicity of the firm, its partners and its Staff or the services offered. 2

4 2.0 PROFILE OF THE FIRM 2.1 Messrs Osifo-Whiskey & Co. (Chartered Accountants) is registered under the Business name Act 1961 with CAC under the CAMA 1990 together with the Chartered Institute of Management Accountants and the Institute of Chartered Accountants of Nigeria. 2.2 The firm is Licensed to Practice as Chartered Accountants in Nigeria. 2.3 The physical office of the firm is located at: Ray Plaza, (3rd floor ) 14, Adesina Street Off Obafemi Awolowo Way (Behind Holy Trinity Hospital) IKEJA Lagos Telephone = , address = osifowhiskeyandco@gmail.com 2.4 THE FIRM HAS 3 PARTNERS (i.) B. Odafe Osifo-Whiskey MS.C, FCMA,, FCA, FCTI, FCIM MNIM (Managing) (ii.) Dick Oluku Mukoro PhD, MBA, FCCA, FCEA, ATII, FMBIM, FCIA (iii.) Rawson Irekponor B.Sc, MSc, MBA, ACCA. The profile of the Partners is set out on Pages 7 & ASSOCIATE FIRMS Certified Trust Limited -Investments, Financial Advisory Services and Management Consultants. Universal Management Konsult Limited - Financial Trainers and Development Consultants 3.0 SCOPE OF SERVICES RENDERED The firm and it associates provide services in various areas listed below 3.1 STATUTORY AUDIT It is a statutory requirement for all incorporated companies in Nigeria to engage a firm of Chartered Accountants to audit their accounting books and records and issued an opinion thereon. Statutory audit is in compliance with the Companies and Allied Matters Act We are a firm of Chartered Accountants established and licensed by the Institute of Chartered Accountants of Nigeria to Audit Financial Statements of Companies in both Private and Public Sectors of the economy. As part of our core services, we carry out Statutory Audits of Companies in the private Sector, Government Parastatals, Corporations and Local Government Authorities. 3

5 3.2 ACCOUNTANCY SERVICES We assist our clients in setting up proper accounting records with in- built internal control system. We also maintain accounting records for small companies and organizations that cannot afford the services of qualified Accountants. Specifically we undertake the following: - Keeping and maintenance of Books of Accounts and Records - Preparation of Monthly Managements Accounts - Computerization of Accounting System - Sales Ledger and Purchases Ledger Management - Debt Reconciliation and Collection - Stock Control and store Management Management Accounting: We help companies plan and control their operations through preparation of budgets to express management s goals in financial terms. After a budget has been adopted, performance reports that compare actual results with the budget is made available for management action periodically. 3.3 SECRETARIAL SERVICES AND ALLIED MATTERS - Rendering of annual returns to Corporate Affairs Commission (CAC) - Companies Incorporation and Registration of Business name - Acting as Company Secretary - We are registered CAC Consultants with No ICAN/IND/ TAX MANAGEMENT / TAX AUDIT MONITORING We prepare tax returns for organizations or individuals and determine the taxes involved in proposed business transactions. We also explore all possibilities within legal framework to minimize the tax liability of our clients by appropriate tax planning. We assist our clients to raise objection and appeal for controversial tax liability assessed by the relevant tax authorities and also assist them in obtaining Tax Clearance Certificate by performing the following: - Computation and filling of Annual Company Income Tax returns to FIRS to enable us obtain Company tax Clearance Certificate. - Computation and filling of Monthly Value Added Taxes (VAT) returns to FIRS. - Computation and filling of Monthly Withholding taxes (WHT) returns to FIRS. - Capital Transfer Tax (CIT) - Capital Gain Tax (CGT) - Procurement of Company Tax Clearance Certificate. - Computation of Personal Income Tax or PAYE of Individual and filling of monthly returns to relevant State Internal Revenue Service (SIRS) on behalf of Corporate Bodies. 4

6 3.5 INVESTIGATIONS We carry out special Investigation into diverse areas of financial, banking, commerce and public sector of the economy. Our Investigation is tailored to meet the needs of various businesses enquiries, probe and investigation panels. We conduct inquiries into the financial affairs of an organization for special purposes generally specified by our clients. Our firm commonly performs the following investigations: Where our clients are interested in the purchase of shares in a company. The purpose of this type of investigation is to provide our client with appropriate information to enable them decide whether to purchase the shares and how much consideration to pay. Where fraud is known or suspected to have taken place in our client s business, the objectives of which are to: i. Determine the amount involved in the fraud and the areas affected ii. Determine the perpetrators of the fraud and ascertain any weaknesses which provided opportunities for the fraud and, iii. Recommend suitable measures, which will avert any recurrence of the fraud. We also carry out Management Audit to enhance administrative practice and efficiency geared to improve overall performance and enhance corporate goals and objectives 3.6 BANK CHARGES AUDIT Many Nigerian Banks are known to have had issues with their customers over excess bank interest charges. This anomaly can only be revealed by Forensic\ Bank Charges Audit. The objectives are two fold: (i.) To ensure our client enjoys the benefit of the CBN control on bank charges, and that banks conform in totality with the offer letters issued to clients. (ii.) On the other hand, some Nigerian Companies are also known to have diverted funds to sources other than what the loan was approved for, thereby frustrating the loan recovery efforts of the banks. We ensure a fair play on both sides of the bank and customers. Our work through forensic audit can be relied upon in the Court of law of competent jurisdiction. We are often prepared to serve as witness in the Court of law regarding our work. Bank charges audit involves examining your Banking Records and transactions particularly the statements of Account from your Bankers and Debit advises, noting various charges posted to your account covering. - Interest Charges - Interest Allowed 5

7 - Commission on Turnover - Exchange Commission - Bills for Collection Inward and Outward Letter of Credit Charges e.g Commission on Draft and Cheque Books. 3.7 FINANCIAL AND MANAGEMENT CONSULTANCY Our well-equipped management consultancy services department is able and willing to avail you of the following services: - Preparation of Feasibility Studies, Business Plans including Cashflow Analysis and Financial Requirements for Presentation to Banks and Other Leading financial Institutions - Assisting in the determination of Management Structure, Executive Search and Recruitment. - Projects and Investments Appraisal and Review - Financial Planning and Control - Financial Projections and Forecast - Profit Planning and Budgeting - Investment and Venture Analysis 3.8 INFORMATION TECHNOLOGY SERVICES We provide supply and installation of computerized Accounting system, which include development, marketing and support of hardware and software solution for organisation. Our range of services includes: - Systems Consultancy Services - Software Development - Computer Education Training and Development. 3.9 FEES We operate three (3) tier systems of billing in accordance with the Institute of Chartered Accountants of Nigeria (ICAN) scale of fees. ICAN requires that fees should now be based on any of: (i.) Time based rate charge. This is number of man-hours expanded on the Job using appropriate rate. (Ii.) Charges based on percentage of turnover or receipts in the case of a trading organization. (iii.) Charge for the services based on negotiation 6

8 4. PROFILES OF THE FIRM S PARTNERS B. ODAFE OSIFO-WHISKEY FCMA, FCA, FCTI, FCIM, MNIM. He trained as a Chartered Accountant in one of the leading Accounting firms, where he acquired extensive practical experience in Audit, Taxation, Management, Finance, Marketing, Investments, and Allied Consultancy Services. He is an accomplished expert in Finance, taxation, Forensic Audit and Strategic management. His working experience includes a successful practice of Accountancy and Audit. He is currently the managing partner of Osifo-Whiskey & Co. He worked with SCOA Nigeria Plc, a multinational company, severally as Treasury Manager, Management Accountant and Finance & Admin Manager between 1983 and He later worked as the Financial Controller of Lloyds Investment Bank Ltd, 1992 to 1993; Assistant General Manager (Finance & Admin) in Emerald Finance & Securities Ltd. between 1994 and He rose to the position of General Manager in Emerald before resigning his appointment in 1996 when he was appointed the pioneer Managing Director of Certified Trust Limited, (a Nigerian firm of Finance, Investment and Management Consultants). He is a Consultant to many Clients, in association with multilateral Financial Institutions and Development Financial Institutions, i.e the Bank of Industry (BOI), the National Economic Reconstruction Fund (NERFUND) Nigeria Export and Import Bank, (NEXIM Bank) and United Nations Industrial Development Organization (UNIDO) on SMEs. He is also a consultant to many Nigeria banks in the area of forensic audit. Mr. Odafe Osifo-Whiskey holds a Master of Science degree in Accounting from Leeds Metropolitan University (now Leeds Beckett University), UK. He is currently a Post-graduate Research fellow at the University of South Wales, UK. Mr. Osifo-whiskey is also a distinguished member of the Society of Human Resource Management, in Alexandria, V.A. USA. His professional membership includes: Fellow, Membership of the Chartered Institute of Management Accountants (CIMA), Institute Of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Taxation of Nigeria (CITN), Chartered Institute Of Marketing Full Member, Nigeria Institute of Management (Chartered Status) (NIM). DICK OLUKU MUKORO Ph D, MBA, FCCA, FCEA, ATII, FMBIM, ACIA: Professor Mukoro holds a Ph.D in Accounting & Finance from City University, London, U.K. Prof. Mukoro studied for about ten years in Britain where he obtained his academic and professional qualifications before proceeding to the United States of America for Further professional Studies and certifications. He is today Associate member of Institute of Taxation (ATII), Certified Internal Auditor USA. He is a Fellow member of the Association of Cost and Executive Accountants (FCEA) London, and of the American Chartered Institute of Financial Controllers and 7

9 Administrators, fellow member of Association of Certified Chartered Accountants (ACCA), London. While in the United Kingdom, Prof. Mukoro worked as a Partner with 8 AP CORLEY & Co. a firm of Chartered Accountants before returning to Nigeria in Prof. Dick O.Mukoro was employed from London in 1981 to head the Accounts Department of Bayero University, Kano. He later joined a firm of Management Consultants, Agrovog Limited, for five (5) years. During this period, he had the opportunity to train more than 100 Directors from different organizations. He also participated in the re-organization exercises of some of these companies. Prof. Dick O. Mukoro has taught, lectured Accounting, Finance and Management in many Nigeria Universities including University of Lagos Akoka, and Covenant University where he became a professor. Since he joined Osifo-Wkiskey & Co. Prof. Mukoro has functioned as Training & Develop Partner. He is fondly referred to by course members as Wizard in Computer Fraud matters. Prof. Mukoro is also a beneficiary of the membership of the British Institute of Management (MBIM) and of the Institute of Management Consultants (MIMC). Prof. Dick Mukoro is a full member of Nigerian Association of Training & Development Council. RAWSON O. IREKPONOR BSc, MSc, MBA, ACCA Mr Rawson Irekponor is an accomplished professional with extensive hands on experience acquired across the whole range of Accounting processes and procedures. He graduated with B.Sc degree in Applied Accounting from Oxford Brooks University, UK. He further obtained an MBA specializing in Human Resources Management. He thereafter acquired MSc in Accounting and Finance from the University of Wales, UK. He is an Associate member of the Association of Certified Chartered Accountants (ACCA) UK, the leading accountancy body worldwide. Prior to joining Osifo-Whiskey and Co (Chartered Accountant) as a Partner, Rawson had worked in the UK, severally as Audit Manager in Alii & Co, Accountants in Manchester, Accountant in Fast Tract Services Ltd. Liverpool, Head of Finance at the World Mission Agency, Liverpool, Accounts Executive Zikgo Associates and Business Consultants Limited, Liverpool. Before travelling to the UK for further studies, he worked in Tell Communications Ltd the publishers of Tell Magazine as Assistant Finance Manager, and as Accounts/ Admin Officer in Royal Strides Investments Limited.. OTHER SENIOR STAFF 1. GODWIN EZOMON - B.Sc (Accounting), ACA, ACCA, MBA 2. ABEL EKPO-UDOM - B.Sc (Finance), ACA 3. ODUNOLA AKINDELE - B.Sc (Accounting), ACA 4. ADEOLA OLALEYE - HND (Accounting), PGD 8

10 5. WILFRED EFETURI OJI - B.Sc (Accounting) ACA 9