WHAT WE DO

WHAT WE DO

Overview

Fine business suits are easy to come by, but you wouldn’t buy a one-size-fits-all suit, and you shouldn’t settle for accounting services that don’t meet your needs. At Lenards, we start with the wide range of professional accounting services you would expect of a medium sized accounting firm and tailor them to provide you with a solution that fits.

All of our services come with our commitment to building lasting client relationships and our desire to help you achieve more. Our client base is diverse, and your changing needs keep us searching for innovative ways to help you discover – and make the most of – opportunities for growth and long-term success.

Audit and Assurance

 

We offer engagement to examine our client’s financial statements and to evaluate the fairness of presentation of the statement in conformity with international standards in Auditing which include a review of the system of internal control and tests of transactions to the extent we believe necessary.

We adopt a “Risk–based audit” approach which blends technical competencies with a detailed knowledge of the client and their needs. We obtain an in-depth understanding of the risks associated with each operating cycle and focus. Under this banner we offer the following audit and assurance services.

Statutory Audit / External Audit

Statutory audit provides the highest level of assurance. It is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatement.

Internal Audit

Internal audit is an oversight function, an independent appraisal activity established within an organization, and provides assurance to the shareholders, board and management by reporting on;

  • The effectiveness of the internal controls;
  • Reliability of the management information systems;
  • Management and control of the organization’s assets; and
  • Compliance with applicable legislations and regulations.

We provide internal audit solutions which range from the total outsourcing of the internal audit function to outsourcing its supervision or setting out an independent internal audit function. This is extended to advising clients to make effective use of data mining tools and computer assisted auditing techniques.

Other Audit Services

  • Performance or value for money audit;
  • Special audits and investigations;
  • Review and implementation of internal audit functions, including outsourcing;
  • Review and implementation of Management Information Systems (MIS); and
  • Inventory Audits.

Tax Advisory

Tax advice and planning are of universal business importance, ensuring that the tax burden is no higher than it should be. The growing complexity of tax regimes and constant changes to tax laws, however, make it almost impossible for any individual to keep pace with the evolving world of international taxation.
Our Tax division recognizing that taxation constitutes a major business cost is able to provide advisory, agency and tax compliance services in areas of income and corporation tax, value added tax, custom and excise tax and other direct and indirect taxes. Our tax team has

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a reputation for creative solutions tailored individually to meet the client needs. The range of services provided by our tax division includes advising on tax planning.

Our vast experience in this field has enabled us to deal with the tax affairs of corporate as well as individuals in various fields of industries. We offer the following services with a totally different team which reviews the accounting records on a totally independent perspective from audit team:

  1. Reviewing the client accounting system and determining that there is sufficient compliance with all tax requirements. Any non conformity will be reported and necessary actions suggested for correcting the same.
  2. Acting as tax agents for submission of tax returns, as well as attending to routine queries from tax authorities.
  3. Computing and advising on year end corporate taxes payable and due dates of submission.
  4. Due diligence on client tax status for the company and directors as regards KRA.
  5. Completing and submitting statutory tax returns of companies and individuals on the due dates.
  6. Review annual Pay as You Earn (PAYE) returns followed by submission on due dates.
  7. Unlimited telephone support on various tax matters arising from unique transactions of an entity and tax seminars and client updates.
  8. Registering with tax authorities and assisting in dealing with income tax, value added tax and Pay as you earn (PAYE) audits and investigations.
  9. VAT audit, issuing of audit certificates and facilitation of refunds where applicable.
  10. Assisting in getting tax exemption status for qualifying clients.

Please note that no separate fees will be charged on routine tax matters during an audit. However special assignments will be quoted separately and agreed upon before commencement of the assignment.

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Advisory

At Lenards, we understand that your organization could benefit from an outside perspective and expert business consulting assistance. To help your organization plan for the future and move beyond any roadblocks that stand in your way, we offer a wide array of accounting and business consulting services to guide you towards success. Our CPA firm is uniquely equipped to help you build your strategic plan and make informed decisions about everything from organizational development to technology strategies.

Our Advisory division is divided in to two sub divisions.

1. Business Process Outsourcing

Bookkeeping & Accountancy

Where we undertake the actual posting of entries 

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in the accounting system either on client site or at our offices in which case the client has to avail the necessary documentation to us. At the end of every month, we provide the client with specific reports necessary for management decision making. We also provide detailed management accounts with notes and explanations on monthly or quarterly basis as may be agreed.

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Payroll Administration

We help you take the guesswork out of payroll

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processing and administration. Our payroll services are designed to simplify the payroll process, from time entry and check processing, to tax payment and filing. This is where we undertake the management of client payroll by ensuring that payroll accounting is done timely and accurately to meet both the client needs and the regulatory compliance requirements. We also conduct specialized payroll reviews to ensure compliance to the Income Tax Act. We have various specialized local software which we use based to the specific client need.

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Accounts Review

This is a key component of accountancy that adds value by supporting the 

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  client accounting staff by reviewing work done on a monthly basis and reporting to the management the extend of accuracy and reliability of the work. We also report on the non compliance if any to accounting standards and tax regulations. This is significant as it helps the client firm to regularize her accounting procedures and mitigate on problems and inconveniences the firm could be exposed to with government authorities by virtue of such non compliance. In all our assignments we issue detailed narrative reports on our findings and proposition on system enhancement to the client management.

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Human Resource Management

We offer support in the delivery of a client’s

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HR strategy and implementation of systems and procedures in the areas of recruitment, training, assessment and rewarding of employees while at the same time ensuring compliance with employment and labour laws.

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Company Secretarial Services

Our qualified company 

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secretaries combine practical experience with technical knowledge of relevant areas of regulation. We keep up-to-date with developments through our membership of professional groups. As a team, we are familiar with a wide range of industry sectors and services, understanding the specific needs of each.

Our company secretarial services include but are not limited to:

  • Incorporation for public and private limited and unlimited companies, branches of overseas

entities and limited liability partnerships

  • Preparation of annual returns, annual general meeting minutes, filing of accounts and the

maintenance of registers which each company must keep by law

  • Change of name, including ensuring the name is acceptable to the Registrar
  • Appointment and resignation of directors and secretary
  • Re organisations/reduction of share capital, reduction of share premium account
  • Share transfers, including payment of stamp duty and applications for relief of duty,
  • administration of share option schemes
  • Dissolutions and restorations
  • Company searches

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Information Technology

Information Technology is the driving force behind

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your business’ daily operations. We offer a full range of solutions designed  to help you put technology to work for you.

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Employee Benefit Plans

You need a qualified retirement plan that is cost

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effective for you and attractive to your employees. Our skilled employee benefits department can help you design, implement, and administer a plan that fits your needs.

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Temporary CFO/Controller Services

As your trusted business 

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advisor, we can provide you with the top-tier management support that a CFO or controller offers  – on an interim basis and without the added overhead of hiring a full-time CFO or controller.

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Forensic Accounting & CFE Services

When business or

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personal situations warrant thorough investigation of theft or fraudulent financial activity, our Certified Fraud Examiners (CFEs) rely on forensic accounting techniques to help you detect fraud and prevent re-occurrences. Our forensic accounting services include litigation support, business consulting, management advisory services, and investigation of fraud that impacts your business or personal financial well-being.

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Cost Segregation Studies

We can perform a cost segregation study to help

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you take advantage of shortened depreciation schedules on certain non-structural components of your real property and realize significant tax savings.

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Litigation Support

When you are facing litigation, the support of an experienced financial professional

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  can be the difference between winning and losing your case. Our certified accounting professionals can provide support for your financial and tax position.

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2. Financial Advisory

‘Delivering Solutions for your Business Challenges’

Nobody knows your business better than you do. That’s why we take a relationship-oriented approach to our business consulting services. By sitting down with you one-on-one, we can pinpoint opportunities for increased efficiency and profitability, help you manage your business’ growing pains, and identify tax-saving strategies to keep your business moving forward.

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In today’s business environment, the future of your business depends on your ability to adapt to change without losing track of your goals. As your trusted business advisors, we use the challenges you identify as a springboard for developing and implementing effective strategies to help you navigate the complicated business world and come out successfully on the other side.

With our certified public accountants and consultants on your side, you can be confident that you are making the best decisions for your business – the success of your business is as important to us as it is to you.

Under the financial advisory banner, Lenards works with organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. We also provide organizational change management, assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services.

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Corporate Restructuring

In the ever changing business world, restructuring to reposition the company may become necessary. We offer assistance in reorganizing the ownership, operational or other structure of the company for the purpose of making it more profitable or better organized to meet its present needs.

Strategic Planning & Management

Our strategic planning divisions purpose is to help companies in the process of defining their strategy, or direction, and make decision on allocating their resources in the pursuit of profitability.

Financial Advisory Services

Lenards is also experienced in offering assistance to companies faced with opportunities for growth such as a merger/acquisition or critical challenges such as fraud, reorganization. Our team has extensive business knowledge and the compliance know-how along with access to all the necessary tools.

Our professionals serve companies throughout the business cycle, providing them with assistance in growing and emerging stronger and smarter.

Business Valuation

Business valuation is the process and a set of procedures used to estimate the economic value of an owner’s interest in a business. Many financial, legal, and tax situations warrant a business valuation. Our team of Certified Valuation Analysts (CVAs) is experienced in applying recognized valuation approaches to perform credible business valuations for a wide variety of clients. Our team uses various tools of the financial market to determine the price interested parts are will to pay or receive to effect the sale of a business. The same can also be used to resolve disputes related to estate taxation, buy-sell agreements and many other business and legal purposes.

Wealth Management

We work to help you protect your future by creating an investment or risk management strategy that is tailored to your current financial situation, but will adjust as your needs – or market conditions – change.        

You Can Rely on Lenards
No matter what size your organization is or what type of financial, auditing, tax, compliance or business planning services your organization needs to grow and thrive, we have the expertise and understanding you seek.

We provide every client with proactive, hands-on service. Whenever you need us, we are just a phone call away. When you want a partner who can help you manage the financial complexities that your organization faces, count on Lenards.