A.M.C.’s standard job as external auditors is performed in accordance with International Standards on Audit – ISA and consists of successive stages as follows:
1. Understanding the business, its controls and information flows.
2. Assess financial reporting risk.
3. Design integrated audit plan.
4. Execute the plan and perform audit tests.
5. Issue an audit report with our opinion on the reliability and the fairness of the financial statements.
On another note, A.M.C. can also perform agreed-upon procedures relating to financial information (ISRE 4400) which are procedures agreed between an entity and a third party to produce factual findings about financial information or operational processes i.e. between a NGO and its donor or partner. For example procedures can include certain tests on accounts payable, accounts receivable, purchases, sales, etc. The objective of such is to carry out procedures of an audit nature and report the factual findings.
This is what A.M.C. does best. We have more than 20 years of experience in that field and we have been tax advisors to over 200 companies.
Our tax professionals draw on their vast experience to provide you with a seamless consultancy through all the challenges of tax compliance and maintaining an effective relationships with tax authorities.
A.M.C. takes in charge of the calculation and declaration of all taxes due on your company. Our team processes and submits the following tax declarations:
1.Quarterly Payroll Tax declaration.
2.Year-end Payroll Tax Declaration.
3.Year-end Individual Payroll Tax Declaration.
4.Monthly or Quarterly National Social Security Fund NSSF Declaration.
5.Year-end National Social Security Fund NSSF Declaration.
6.Quarterly VAT declaration.
7.Year-end Property Tax declaration.
8.Year-end Income Tax Report.
9.Year-end Audit Report.
10.Other Tax Declarations that could result from the nature or operations of the company (i.e. Dividend Distribution, Disposal of Shares, Fixed Assets Revaluation, Taxes withheld on Interests paid on issued bonds, etc.)
The challenge for many business is not just how to grow, but to grow sustainably, profitably and manageably. To do that best rely on a combination of instinct, proper planning, adequate structure and really high quality, accurate management and financial information. However, hiring a full time accountant can be costly, especially for start-up companies.
A.M.C.’s accounting department provides this service from the preparation of journal entries, to bank reconciliation, accounts receivable & payable reconciliation, preparation of payroll sheets, NSSF calculations, preperation of periodic income statements and keeping track with tax computations.
As results, our client will have:
1.Complete Financial Records.
2.Accurate Financial Statements.
3.Timely access to Financial Information for decision making.
4.Compliance with relevant tax regulations & accounting Standards.
5.Access to funds.
After performing the necessary audit tests, A.M.C. team prepares detailed financial statements in accordance with the International Financial Reporting Standards - IFRS or in accordance with Lebanese Generally Accepted Accounting Principles - Lebanese GAAP.
A complete set of financial statements comprises the following:
1.Statement of Comprehensive Income.
2.Statement of Financial Position.
3.Statement of CashFlow.
4.Statement of Changes in Equity.
5.Notes to the Financial Statements
A feasibility study is mandatory before going through any new investment or project. A.M.C. professionals shall examine the practicability of a proposal or business venture. The report will look at how an investment can work on a long-term basis or endure financial risks that may come.
In simpler words, the main function of our feasibility study is to determine if the new project is feasible and will continue or not.
When one company takes over another and clearly established itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist. On another note, a merger occurs when two companies consolidate into one company.
From a financial perspective, A.M.C. prepares a valuation study for both parties based on their historical data and taking into consideration their projected figures and their growth trend.
Finally, A.M.C. takes charge of all the formalities with the Ministry of Finance and the National Social Security Fund to execute and finalize the merger.
As part of our internal control review, our team examines all issues related to your company’s practices and risks.
We analyze the efficiency of your internal control, as well as the potential threats & weaknesses, and submit a detailed report of the findings with our recommendations to strengthen your internal controls.
Finally, we follow up to make sure that our suggestions are properly implemented.