ABOUT OUR SERVICES

We insist on first class services to our client, and this distinguishes Ayodele Olatunji & Co from other accounting firms.

As part of our quality services, we usually devote a significant part of our efforts to helping our clients to achieve their corporate objectives and to develop strong accounting and reporting functions.

It is part of the standard practice of the firm to ensure that our analyses, evaluations and recommendations are based on carefully verified data.

Each assignment undertaken by the firm receives the close attention of the Engagement Partner and all personnel involved. In addition, we maintain open lines of candid, productive and proactive communication with our clients’ Management team to keep them fully abreast of current developments affecting their businesses and continuously offer our suggestions for maximum effectiveness and sure-footed achievement of the corporate goals.

Other Services rendered include:

• Historical trends and ratios analysis
• Cost reduction and profit improvement strategies
• Budget and budgetary control with emphasis on zero-based and flexible budgeting systems
• Conduct of Due Diligent Assignment
• Feasibility Study
• Cash flow projections and treasury management
• Share valuation
• Accountants’ report in respect of issue of prospectus
• Business appraisals, re-capitalization and re-organization
• General business advisory and Legal Support Services.

WHAT WE DO

Auditing

We provide statutory audit to small, medium and big companies. Our services in this regard are carried out under the guideline of the auditing standards and relevant laws of the country in which the client is situated or transacting business, and in line with other regulatory framework to which the client may be subjected.

Taxation

We handle tax audits and correspondence, and other matters connected with obtaining tax clearance certificates for our clients.

Secretarial Matters

Most businesses do not make the distinction between cost reduction and cost control. Both of them are strategies for increasing profit. However, cost reduction has more tendencies to increase profit than cost control.

Accounting systems

This service is usually rendered to small scale businesses that, for the time being, could not maintain full complement of accounting staff.

Investigations

At the request of any of our clients, we can also carry out corporate policy audit, systems audit, appraisal and evaluation of management systems.

Accountancy

We write up books of accounts for our clients and prepare management accounts for the required periods.

Management Consultancy,

We provide a full range of managerial services which include: • Recruitment; • Change Management; • Accounting and internal controls establishments and development; • Accounting and procedural manuals; • Computer Installation and review

Corporate recovery and liquidation

This is often in connection with helping the management to decide whether to reconstruct or liquidate a business. If the final decision is to liquidate, the method of liquidation to adopt, taking into consideration, circumstances and the operating environment of the company.

FEASIBILITY STUDY


The collapse of some of the companies in Nigeria today was because proper feasibility study was not carried out before these companies were established. The absence of a properly researched and professionally put together feasibility report has often resulted in lopsided investment of resources and fire-brigade style of implementation of projects, to mention just a few of the many pitfalls associated with new business ventures. Most of our existing and profitable clients have benefited tremendously from our skill and experience in conducting feasibility studies and the presentation of our findings.

OPINION


Depending on the industry to which our client(s) may belong, in expressing our opinion the provisions of the following documents are considered:
• Companies and Allied Matters Act, (CAMA) 2004
• Banks and Other Financial Institutions Act, 1991
• Statements of Accounting Standards issued to date by the International Financial Reporting Standards (IFRS)
• Requirements by the Nigerian Stock Exchange
• Circulars issued by the relevant regulating bodies’ e.g. Central Bank of Nigeria, NAICOM etc.
• Relevant auditing Standards
• International Standards where applicable
• Other regulatory framework to which the client is subjected.

APPROACH TO RENDERING OUR SERVICES


Since it is our prime objective to render first class services to our clients, we always maintain entrepreneurial approach and observe the following steps in performance of our service.
 
• The team
 
The team is usually made up of efficient and experienced staff members to ensure timely completion of assignment and quality service. The team is led by staff with adequate knowledge of the client’s business and its operating environment.
 
• Strategy meeting
The meeting is held at our instance between the team leader and the key management staff of our clients. At this meeting, the specific needs of our clients in connection with an assignment are given adequate consideration and our strategies to meet the needs are documented.
 
• Strategy & Planning Memorandum
 
This is a documentation of the various steps we intend to follow in order to render first class service to our clients.
 
• Review, Monitoring and Quality Control
 
This is done by the Engagement Partner and the Senior Manager.
 
• Reports, depending on the assignments
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These have been addressed above under DELIVERABLES
 
• Evaluation of the adequacy and effectiveness of the internal control and accounting systems. e.g. high level and specific controls with the view to giving recommendations in respect of weak areas in the controls and in the accounting systems.