AKIN-ADEBOWALE & CO (Chartered Accountants

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1 AKIN-ADEBOWALE & CO (Chartered Accountants) 2, Omoyemi Adesoga Close, Off Toyin Street, Unity Area, Ikeja, Lagos. Tel , Website: Akin-Adebowale & Co was founded by experienced, reputable and highly professional individuals of our time. AKB was borne out of the desire of its founding partner and associates to provide highly qualitative, value added professional services to our modern business world. The firm currently operates from Lagos, Abuja, Akure and Ibadan with easy accessibility to our offices. AKB s pride is in its highly experienced and committed partners and members of staff. In its short sojourn in the business, it has earned a reputation for top quality and timely service, and real understanding of business needs. Currently, the Firm s staff is composed of professionals and a pool of consultants in various fields of experience to support its operations. AKB works very hard at fostering a workplace that provides extensive technical training and offer our staff a broad range of client work and excellent resources in a collaborative and supportive environment. Our members of staff are articulate young personnel, fused with youthful zeal and possess primed experience to meet your needs. Our continuing investment in staff training and development translate directly to an investment in service to you through professionally constituted engagement team and committed administrative staff who work together to ensure that all aspect of business support are provided to you. To partner all who value professionalism with integrity in the modern business world on a long-term basis. Our mission is to partner with our clients in realising their goals. We accomplish this by finding new ways to serve you and continually developing our knowledge,

2 resources, skills and systems so that we can provide you with the high quality service that you expect. What distinguishes us from other audit firms is that we consider our clients as our Partners, working as a team to ensure that they receive the highest quality service. We view every client relationship like a partnership, aimed at understanding individual clients s needs and maintaining the highest professional and ethical standards. To be among top echelon in professional service. At AKB, our value is professionalism with integrity through dedicated quality service. Our overriding service philosophy is that of quality and significantvalue added to our clients. We are committed to assisting clients implement the most appropriate and cost effective risk management tools and procedure to manage pervasive specific buisness, or financial risk. AKB is prepared to go the extra mile not only to meet your needs but also to surpass your expectations through consistent value addition to your company. Our firm will also deploy both our generic and customized services to meet your identified needs. We provide the following services to our clients that represent a broad range of businesses and industries: ACCOUNTING SERVICES We offer the following range of accounting services: 2

3 Maintenance of proper accounting records Compilation of periodic financial statements Acquisition and installation of accounting software Recruitment and training of accounting staff We have the relevant expertise and experience required to undertake the accounting services in an efficient and timely manner. Internal Auditing Services We offer the following range of internal audit services: Preparation of internal audit manual Pre-payment audit Cash and bank audit Periodic stock count and audit Recruitment and training of internal audit staff External Auditing Services We provide professional opinions on financial statements on a full scope audit or review engagement basis. Our auditing services extend beyond the examination of financial statements. We also look at the size and nature of your business, its market place and industry issues to determine what your requirements are. Prior to any engagement, we analyze your situation and devise a customized plan. Our planning process includes looking at details thoroughly, assigning the best resources and using proven approaches, all of which result in the most cost-effective, timely and highest quality service possible. An audit by AKB additionally provides important 3

4 information for management and other users of the financial statements, such as creditors or investors. An AKB audit adds credibility to the financial statements. Our Tax Compliance Services We offer the following range of tax compliance services to various interested organizations: WITHOLDING TAX MANAGEMENT Every company transacting business in Nigeria is involved either in withholding tax deduction either as receivable or payable. In either of the two positions, if not properly managed might result into substantial loss of tax benefit of offsetting income tax payable with available withholding tax credit for any related period. We provide our service for withholding tax compliance in the following areas: I. We collect on behalf of companies WHT Credit Notes to offset income tax liabilities and Treasury Receipt for tax audit purposes II. III. IV. We assist in timely filing of WHT returns to relevant tax office. Provision of guidance in the computation of withholding tax. Provision of advice on the beneficiary of withholding tax deducted between the federal and state government. VALUE ADDED TAX (VAT) COMPLIANCE SERVICE We provide our services in the following areas for VAT compliances: 4

5 I. Providing guidance on computation of either output or input VAT. II. III. IV. Providing guidance on vatable and non-vatable services. We assist in monthly filing VAT returns to FIRS. Collection of VAT receipts from Federal Inland Revenue Service (FIRS). COMPANY INCOME TAX COMPLIANCE SERVICE The scope of this specialized area of service includes: I. Providing guidance on computation of income tax liability and other relevant parts for claims of tax deductibles/allowances. II. III. IV. Submitting the completed and signed self assessment income and education tax forms with the relevant offices. Collection of tax receipts for all various payments made on behalf of the company. Submission, following up and obtaining the Company Income Tax Clearance Certificate. V. Attending to tax queries raised from Federal Inland Revenue Service VI. Provide guidance and support in addressing Tax Audit matters PERSONAL INCOME TAX COMPLIANCE SERVICE Our service for Personal Income Tax Compliance covers the following scope of work: I. Providing guidance on completion of employee s annual income declaration, other benefit in kind and other relevant parts for claims of tax relief. 5

6 II. III. IV. Submitting the completed and signed forms with the relevant offices of the State Internal revenue Service and follow up to obtain the individual employee s tax deduction cards, Collating monthly PAYE remittance receipts, Completing Employers statement of income and taxes for the year, Form H1for the company s approval and authorisation to file with the relevant State IRS office, V. Submission of returns with the relevant State IRS office, VI. VII. VIII. Providing guidance on the completion of the TCC application form for the relevant, Processing completed and signed TCC forms with relevant State IRS office, Following up and obtaining the TCC for the employees, FINANCIAL FORECASTS & PROJECTIONS Our experienced staff can assist in preparing feasibility studies, financial forecasts and projections, such as projected profit and loss, projected balance sheet, projected cashflow statement etc. Financial Planning & Advice Our team of professionals assists businesses to manage their finances, control costs, increase revenues, improve productivity, plan for the future, re-engineer their business etc., to enhance their profits. Management Advisory Services 6

7 To cope with the ever changing business environment, AKB assists in organizing, planning, and monitoring business developments in areas such as management information systems, personnel practices, debtors and inventory control. We assist our clients to improve the use of their resources. Other Services Feasibility Studies Company Registration Company Secretarial Services Staff Recruitment and Training Due Dilligence Our client base crosses the spectrum of commercial endeavour, and we also handle a wide selection of business sizes, offering assurance and other business advisory services to suit the specific needs of individual or organisations whatever their field and activity. AKB provides audit and consulting services to small, middles- sized and large companies. Our clients are engaged in a variety of business activities in trhe folowing economic sectors. Agriculture Educational Institutions Governement entities Hotel and Hospitaloty Business Insurance 7

8 Manufacturing Non-governmental Organizations Oil and Gas Private Asset Management Real Estate Religious Organizations Retail and Wholesale Entities Services Organizations Some of the institutions for which we have successfully provided service include: 8

9 Akin-Adebowale & Co Chartered Accountants prides itself in having well complemented professionals on board. The partners and members of staff operate in an organized management structure that is built to handle complexities of business transactions and the increasingly sophisticated services emerging nationally and globally, thus, guaranteeing continuing professional and consistent service to our clients. Our commitment to excellence is evidenced by the selection of our staff, continuing education programmes, organised in-house training, research resources and emphasis on quality control. DEBO OLUFEYI AKINTOKE (B.Sc., MBA, FCA, FCTI) Debo is a graduate of accounting from Olabisi Onabanjo University with second class upper. He holds a master degree in Business Administration with specialisation in Finance from Obafemi Awolowo University (Formerly University of Ife). He is Fellow of the Institute of Chartered Accountants of Nigeria and The Chartered Institutes of Taxation of Nigeria. Besides his audit function in financial audits, investigation, taxation, and strategic business planning he has also undertaken numerous special assignments, including: operations audits, bank audits, special investigations, corporate restructuring, due diligence, business plan and tax planning. 9

10 Mr. Akintoke s wealth of experience in various industries with proven success to the clients benefit and satisfaction. In addition to his very extensive experience in financial audits, taxation and business consulting, he also coordinates the Quality Control Session (QCS) of the firm. He also an expert of Nigerian Accounting Standard and International Reporting Standards. He has presented several papers in various in-house training programmes on International Standards on Auditing (ISA) for organisations. Also, he has attended conferences and seminars in the sphere of professional services. He is currently the firm s quality control and review partner for all assignments. Folake Oyelade (Mrs) MBA, ACA Folake holds master degree in Business Administration from Ladoke Akintola University. She is also an associate member of the Institute of Chartered Accountants of Nigeria. She is highly experienced in both auditing and tax management services. Folake has vast knowledge in book keeping and accounts in computerised environment and otherwise. She is currently the head of operations for auditing and accounting services. She also supervises a team of preparers of tax returns for the firm. Mike Olaoluwa (MBA, ACA) Mike is a master degree holder in Business Administration with specialisation in Finance from Obafemi Awolowo University. He is an associate member of the Institute of Chartered Accountants of Nigeria. Mike is highly experienced in accounting services and his key competencies are in the area of developing in-house accounting software and recovery of excess bank charges. He is the head of forensic unit of the firm saddled with recovery of excess bank charges for our clients. 10

11 HEAD OFFICE 11

12 2 Omoyemi Adesoga Close, Off Toyin Street, Unity Area, Ikeja, Lagos, Nigeria. Tel: Website: OTHER OFFICES IBADAN ABUJA AKURE 12