uditing-Non assurance audits
Business advisory , consulting and corporate planning are cornerstone assurance services provided by MAW Inc. Our skills and services offered to our clients go well beyond the traditional auditor/accountant role.
orporate and managerial Finance
Corporate finance deals with financial decisions business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximizecorporate value while managing the firm's financial risks. Managerial finance is an interdisciplinary approach that borrows from both managerial accounting and corporate finance. Sound financial management creates value and organisational agility through the allocation of scarce resources amongst competing business opportunities. It aids in the implementation and monitoring of business strategies and helps achieve business objectives.
Our role in this area can best be summarised as follows:
- To interpret financial results in the manner described above by utilising financial analysis techniques. Financial analysis refers to an assessment of the viability, stability and profitability of a business, sub-business or project.
- We also focus on how resources are allocated within an organization, for this we need to know what each activity costs and why. These questions require managerial accounting techniques such as activity based costing.
- Because managers need to anticipate future expenses, we need get a better understanding of the accuracy of the budgeting process, for this exercise we may use variable budgeting or some other budgeting technique.
- We determine the best way to use money to improve future opportunities to earn money and minimise the impact of financial shocks. To accomplish these goals we are likely to use the following techniques borrowed from corporate finance:
- Capital budgeting
- Capital structuring
- Due diligence reviews
- Financial risk management or enterprise risk management using universally recognised principles and generic guidelines [ISO31000]
- Working Capital Management
Within an organisation a CA or a suitable qualified person will typically perform the role of financial manager or accountant, financial director, treasurer, controller, company secretary, cost and management accountant, tax specialist, internal auditor etc and be a key member of the top management team.
Although traditionally rendered by CA’s or a suitable qualified person employed within an organisation, there is an increasing trend to have this function outsourced. Small to medium businesses find this arrangement particularly attractive because the same or improved output can be achieved at a fraction of the cost.
To find out how we can increase your profitability, contact us for a brochure detailing the nature of this service.
This specialist area involves investigative accounting where fraudulent accounting may be suspected. It can mean serving as an expert witness if a case goes to court.
Start-ups or businesses that have to adapt to changes in their operational effectiveness have to carefully consider their investment in technology. Incorrect decisions regarding networking, hardware and financial software options often lead to unwarranted costs.
Our experience in this area can ensure that this investment is done in an economical manner.
If a company is in distress, its chances of recovery must be assessed.
Our role in insolvency cases is determined by the capacity in which we act. As advisors or executors we assist in selling a company as a going concern; as liquidators’ sell-off assets to pay creditors; and as judicial managers’ plan for the organisation's survival through restructuring.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal control, and governance processes.
Nature of the internal audit activity
1. Establish and communicate the scope and objectives for the audit to appropriate management.
2. Develop an understanding of the business area under review. This includes objectives, measurements, and key transaction types. This involves review of documents and interviews. Flowcharts and narratives may be created if necessary.
3. Describe the key risks facing the business activities within the scope of the audit.
4. Identify control procedures used to ensure each key risk and transaction type is properly controlled and monitored.
5. Develop and execute a risk-based sampling and testing approach to determine whether the most important controls are operating as intended.
6. Report problems identified and negotiate action plans with management to address the problems.
7. Follow-up on reported findings at appropriate intervals. Internal audit departments maintain a follow-up database for this purpose.
Project length varies based on the complexity of the activity being audited and Internal Audit resources available. Many of the above steps are iterative and may not all occur in the sequence indicated.
By analysing and recommending business improvements in critical areas, we help the organisation meet its objectives.
ecre tarial Services
In larger organisations a company secretary will perform this function which deals with corporate business administrative matters and corporate governance compliance.
Essentially we assist clients with compliance with various requirements of the King III, Companies Act, Closed Corporation Act, Trust Property Control Act, Sectional Title Act, etc.
We advise clients on how to lawfully minimise their tax liabilities through efficient tax planning. We also submit tax returns, resolve tax problems, advise on tax implications and litigation matters and also generally aid clients with their personal financial affairs.