AUDITING AND ACCOUNTING
A depth and diversity of experience has been accumulated by our partners and staff which enabled us to build a fund of experience that can be applied to the particular needs of each client. These clients range in size from embryonic ventures to large Limited Liability Companies with sophisticated reporting and accounting systems.
We act as statutory auditors to Limited Liability Companies, Public Companies and Non -profit making organisation in accordance with Companies and Allied Matters Act, CAP C20 LFN 2004. Our audit functions also include the development of constructive management-oriented recommendations aimed at improved operating and financial performances in addition to the customary practice of rendering opinion on the financial statements. We also perform value for money audits for our clients where they so request.
We provide other services to our clients which includes, writing up and updating of accounting records. We also act as Reporting Accountants in public issues and private placements.
TAX AND TAX MANAGEMENT
Our taxation services include Corporate Taxation, PAYE, and Petroleum Profit Taxation. We also give extended tax advisory services on all matters.
RECEIVERSHIP AND LIQUIDATION
We have extensive cognate experience on insolvency practice, especially receivership, liquidation and turnaround management of dying and insolvent projects.
Specific Insolvency Services Offered:
Our Insolvency group has a range of clientele ranging from banks, to finance houses and public and private companies. We have earned ourselves a reputation for giving thorough service. The services we offer include:
a. Administrative Receivership
This involves taking over the charged assets of insolvent companies, identifying their problems and causes of insolvency with a view to turning them around and recovering debt owed before handing over to the owners. It involves the appointment of Receiver and Manager. If the assets and business could not be run due to lack of working capital or any other fundamental reasons, the charged assets are then realised to pay off the secured creditors.
b. Appointment as Receiver
In this case, the appointment as Receiver entails the taking over of the charged assets with a view to realizing the assets.
c. Liquidation
This involves winding up a company completely and distribution of proceeds to creditors and contributories. This may be brought about by compulsory winding up order by the court, members’ voluntary winding up or creditors winding up.
d. Debt Recovery
We also carry out debt recovery services to banks and other financial institutions. This
service is mostly carried out for companies who have no fixed or floating charge on the
assets of the debtor.
e. Turn Around Management
The principal objective here is to run the company without the stigma of receivership jointly with the existing management. The main responsibility will be taking charge of the finances of the company with a view to ensuring that receipts are properly captured and expenses monitored and approved by turn around managers. The management will continue until the loan is fully repaid.
COMPANY SECRETARIALSHIP
Our company secretarial firm, First Associated Board Services Limited is handled by qualified Chartered Company Secretaries and Barristers at Law.
Services provided include:
- Incorporation of companies
- Filing statutory returns
- Maintenance of statutory books
- Attendance at Board meetings, Annual General Meetings and any other statutory meeting
- Offering advice on company laws, exchange control, immigration and indigenization matters.
- Obtaining necessary approvals from various government organizations
- Handling share registration in liaison with Registrars of Companies.
MANAGEMENT CONSULTANCY
The services provided by our management consultancy departments include the following:
- Financial planning and control
- Operations planning and control
- Information Technology, software consultancy
- Financial Advisory Services
- Human Resources Services
- Training and Seminars
