Services

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Our Services

As a Firm of Chartered Accountants, we render a very wide range of Auditing, Taxation, Accountancy and related services on an ad-hoc, semi-permanent, contract or permanent basis.

(i) Setting up of accounting system to suit individual businesses.
(ii) Undertaking the maintenance of accounting records; writing – up of the books; preparation of interim statements on monthly, quarterly, half yearly and as and when required, and preparation of payroll
(iii) All accounting supporting services such as reconciliation, inventory management etc
(iv) Dealing with State Internal Revenue Departments in respect of Directors‟ and staff payroll taxes; dealing with the staff ITF matters.
(v) Dealing with VAT registration and compliance matters, etc.
(vi) Carrying out regular or ad-hoc review of accounting system and/or records to ensure their satisfactory performance.
(vii) Installing and review of the Internal Control System.

As Chartered Accountants in practice, we act as statutory AUDITORS to Limited Liability Companies, Government Agencies and Parastatals, International Organisations, Partnership and Enterprises (if they so wish).

In this capacity, we carry out duties as contained in the Companies and Allied Matters Act, 1990 by examining the accounts presented to us by the directors of the Company and we carry out checks on, and examination of these accounts. We then report to members (shareholders) of the Company whether, in our opinion, the accounts which we have audited give a true and fair view of the state of the Company‟s affairs at the date of the financial position, and the income statement for the period ended on that date; and whether or not those accounts comply with the provision of the Companies and Allied Matters Act, 1990 and any other legislation relevant to the Company‟s particular industry.

We act as tax consultants to companies, individuals, state and federal governments. For state and federal governments, we assist in monitoring tax compliance by ensuring that taxpayers pay and remit correct tax amounts to the tax authority.
We also act in an advisory capacity to the government on various ways by which its revenue generation can increase tremendously through improved ways and means of tax collection.

For companies, the taxation and capital allowance computations based on the audited accounts will be prepared and submitted to the State Inland Revenue or Federal Inland Revenue Service as required by law.

Clients are to be kept informed of the company‟s tax position from time to time and the tax payable, if any.
We always liaise with the tax office in ensuring prompt issuance of tax clearance certificate to your company. We also give advice necessary any time there are new legislations or changes in tax laws in order for the company‟s affairs and policies to keep abreast of such changes.

We also act as your Company secretary, attending Board meetings and AGMs, taking minutes of the meetings.

As accredited agents of the Corporate Affairs Commission, we register new companies, Business Names, Trustees and post incorporation tasks.

We shall liaise with the Corporate Affairs Commission for the filing of all Secretarial matters.

This comprises:
(i) Due Diligence Services in case of merger and acquisition where a prospective investor requires detailed investigation or survey into a particular Company with a view to taking investment decision.
(ii) Financial and management services
(iii) Receivership and Liquidation services
(iv) Debt recovery and negotiation.
(v) Arbitration Work
(vi) Feasibility Report.

As your Company or Organisation expends its operations size, it may be necessary to transfer its accounting functions to some more advanced data processing methods and we shall be prepared to offer advice on the accounting aspect of this matter and/or amendments to the existing system or the installation of a new one.

We assist you in the recruitment of accounting staff to meet your needs and we also assist in defining their terms of reference. We may also assist you in the recruitment of other related categories of staff.

We shall act as advisers to you in all accounting, financial and tax matters as and when such advice is sought from us, or when we feel such advice will be useful to you.

Otherservices we render include, but not limited to: account reconciliation, Stock count exercise, its reconciliation and report thereon, Fixed Asset Register Compilation, Payroll Management, Internal Control and Audit, Business Plan and Feasibility study etc.

Our firm is committed to providing quality professional services, with development of Accountancy profession throughout Nigeria and the world in general and to the achievement of excellence in every area of the profession.

OUR PROFESSIONAL FEES

As a result of the various services we offer as listed above, it is difficult, if not impossible to quote a fee for any of them in the abstract.

Usually, our fees are based upon the degree of responsibility and skill involved in the assignment, and the time necessarily occupied on the particular assignment in line with the Scale of Professional fees issued by The Institute of Chartered Accountants of Nigeria.

We can however assure you that all fees chargeable will be reasonable and will be fully discussed with you as OFC has culture of placing relationship over money.

Disbursements are fully for the account of the client and should it be necessary to work outside Lagos, out-of-station expenses will also have to be met by the Client.

In the course of undertaking most assignments, it is usual to raise advance and interim bills, and final bill being rendered on completion of the assignment, less any interim payment received.