AUDIT ASSISTANT:
We have 20 audit students those who are in expert in field level audit. All of the Audit Team are the Students of ICMAB and have practical experience.
SERVICES WE PROVIDE:
We always define the scope of work and requirements of the work to fit management needs. Tasks also are defined according to the nature of business, requirements, and time frame of the work. Here are some of the snapshots of our professional activities:
INTERNAL & EXTERNAL AUDIT
Creating value that makes a real difference to a client’s business is basic to our audit approach. The service we deliver matches strict compliance requirements with our clients’ needs to run a successful business, whether it, be small or large, privately owned or listed. This means minimizing any disruption caused by the audit process and maximizing the potential to bring you meaningful insights on activities and financial controls within the business.
All work is overseen by a consultant to ensure the highest levels of service and all work is carried out by a highly experienced and qualified audit manager and members of our dedicated audit department.
Auditing large groups to individual companies mean our expertise is diverse, whether applying GAAP, IFRS, or IAS; we have the technical expertise to assist in any assignment.
CERTIFICATION ON COMPLIANCE OF CORPORATE GOVERNANCE:
We are a very good number of technical personnel who are versatile with the laws and regulations relating to BSEC, DSC, CSE, and companies’ law. Our technical personal have good experience in certification on compliance of Corporate Governance. Our firm also gives pre-audit service in this compliance matter.
INCOME TAX ASSESSMENT & PLANNING
Taxation is always a highly complex issue and always changing. It is something that affects everyone’s life. It is a factor that is considered for all our clients whether we are performing services for a company, a business or an individual.
Our consultants have previous experience drawn from international and small practices and are qualified accountants and income tax practitioners (ITP). Our tax services are divided broadly into the following categories:
- Tax Investigations
- Present Tax Services
- Corporate Tax
- Personal Tax
- Tax Deducted at Source
- Tax Planning
- Tax Return
- Filing of e-TDS Returns & E-Returns
- Attending Tax Audit
- Appearing before the DCT, CT Appeal, Tribunal etc
VALUE ADDED TAX (VAT)
Value-added tax is one of the most complex and onerous tax regimes imposed on businesses – so complex that many businesses inadvertently overpay or underpay VAT. The ever-widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever-growing demands of Customs and Excise call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to! We provide an efficient cost-effective VAT service, which includes:
- Assistance with VAT registration
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Planning to minimize future problems with Customs and Excise
- Negotiating with Customs and Excise in disputes and representing you at VAT tribunals
ACCOUNTANCY SERVICE
Our experienced team provides a broad accounts preparation service for all clients, irrespective of business size or complexity. Clients include sole traders, limited companies, and partnerships who call on us to provide a reliable, fast, and effective service.
Ultimately, our aim is to help clients maintain good records throughout the financial year to make the process as simple and cost-effective as possible. We help clients comply with all their obligations, preparing accounts for shareholders, the Inland Revenue, and abbreviated accounts for companies’ houses as part of our comprehensive service.
Our firm is highly computerized and we can assist you to computerize your accounting department too. We will help you choose the most appropriate software and help you get it up and running, tailored for your company where necessary, and then provide some training and ongoing support until you can run independently.
PAYROLL SERVICE
Administering your payroll can be time-consuming and burdensome, diverting energy and resources from the core activities of your business. And the task is made all the more difficult by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance.
We have dedicated staff that can relieve you of this burden by providing a comprehensive and confidential payroll service, including
- Customized pay slips
- Summaries of payroll costs by department, cost center and company
- Administration of PAYE, statutory sick pay, statutory maternity pay, etc
- Completion of statutory forms, including yearend returns, to issue to your employees and submit to the National Board of Revenue
- Summarizes and analysis of staff costs
- Administration of incentive schemes, bonuses, and ex-gratia and termination payments Administration of pension schemes, etc.
- Tracking loans, holiday pay, maternity pay, and sick pay.
BUSINESS SUPPORT & OUTSOURCING:
Everyone knows that a successful business must plan ahead, but all too often the pressures of keeping the business going on a daily basis mean that strategic planning is not given the attention it needs. The result is often rushed judgments, over-or under-capacity, or missed opportunities.
Most people who start-up in business do so because they have a good business proposition and the enterprise and commitment to see it through, not because they are experts in the legal, financial, and fiscal aspects of running a business. Indeed, these matters can often seem daunting, and even off-putting, to the budding entrepreneur. The good news is that you do not need to be an expert in these fields to succeed in business. All you need is the support of a team of trained experts. That’s where we fit in. Bring us your business ideas and we’ll help you to evaluate them in a constructive and realistic manner. We can also help you:
- Decide on the most suitable structure for your business – sole trader, partnership, or limited company
- Prepare a business plan, cash flow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
- Establish a good working relationship with your bank
- Complete any registration procedures with Companies House, Inland Revenue, or Customs and Excise
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements
COMPANY SECRETARY SERVICES:
The most important thing you need as a busy business owner is to use up valuable time and resources making sure you are complying with the Companies Act. Moreover, with company legislation changing at the rate it does, you need to be sure you are fully aware of how the changes affect you and your fellow directors.
We can give you complete peace of mind in this area by carrying out your company secretarial duties for you.
OUR SERVICES INCLUDE:
- Corporate Governance Audit
- Company formations (Local, Partnership, Sole trader, Foreign Invested Company, etc.)
- Obtain different legislative certificates to run the business (Board of Investment, Central Bank, Trade License, IRC/ERC, TIN, and Permission from CCCE, etc.)
- Preparation and filing of statutory returns
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- General advice on company law
- Acquisitions & Disposals
Sometimes the best way to improve your competitive position in the marketplace is through a merger or acquisition. Not only is this a complex and time-consuming process, if it is not well researched and skillfully negotiated it could make matters worse, not better.
This is definitely a situation where you need the support and assistance of trained professionals. We can help you:
- Identify potential targets for M&A
- Screen targets for suitability
- Prepare a negotiating strategy
- Raise the necessary capital
- Develop an integration plan
- Optimize the tax and financial position of the combined enterprise
At other times you may decide to improve your profitability through a disposal. Again, we can help with valuing the assets, finding suitable purchasers, and negotiating the sale.
LEGAL/ REGULATORY SERVICE:
We provide a broad range of legal and regulatory services to assist our clients, from representation in Tribunals or in acquisitions, to project management, dispute resolution, and training in alliance with associate law firms.
We understand the complexities and regulatory requirements of numerous regulatory bodies, including the Financial Services Authority, Solicitors Regulation Authority, Health and Safety Executive, Trading Standards, and the Environment Agency. As we are a professional accountancy firm, our advice and reports are subject to legal professional privilege.
HR CONSULTANCY:
“M. Salahuddin & Co.” is one of the country’s leading independent firms of Professional Accountants and Business Advisers. Our focus is to become our client’s trusted adviser, supporting the growth and profitability of their business, with the aim of assuring clients we will always deliver the right solutions for their unique situation.
Our team of HR and legal experts are here to offer support and guidance on any HR issue from Recruitment to terminations, including:
- Recruitment and Selection
- Induction
- Equal Opportunity
- Discrimination
- Holiday entitlements and procedure
- Short and long term sickness/absence
- Grievance & disciplinary
- Maternity and paternity
- Flexible working
- Harassment and Bullying
- Working time regulation
- Employment benefits
FINANCIAL PLANNING:
Whether yours is a new or a mature business, ensuring that you have the necessary finance is essential for achieving your objectives. Indeed, one of the most common causes of business failure is badly structured or inadequate financing. The services include:
- Wealth management
- Conduct a feasibility study of your projects
- Decide on the most suitable sources of finance – personal capital, bank overdraft, long-term commercial loans and mortgages, national and regional agencies, venture capital, or equity capital
- Prepare the necessary business plan, forecasts, prospectuses, etc.
- Present your proposals to your chosen finance source
- Arrange a disposal, merger/acquisition, or management buyout/in
- Mortgage and loan finance
- Savings and investment
- Estate planning
- Protection policies for sickness and death
- Retirement planning
This is an important additional service as it will provide you with ‘one stop’ advice on all financial matters, and for us, it gives a greater insight into your goals and ambitions for the future, which we can be instrumental in helping you to achieve.
MANAGEMENT CONSULTANCY:
Few businesses can afford to employ specialists and experts who can address all the complex issues and challenges faced by management – be they strategic, tactical, or operational. To help our clients address these challenges we can provide insight and expertise using professionals who are likely to have faced and overcome similar or analogous situations.
Our consultancy support is based on an approach whereby we:
- Listen to the client and those impacted by the issue or opportunity to be addressed
- Assess the situation, propose an approach and agree on a way forward; and only then
- Commence the delivery of solutions designed to resolve or manage the problem(s) identified, in a focused and deliberate way
INCORPORATION & FUNCTIONING OF FOREIGN COMPANIES:
Whether you are an overseas business looking to set up operations in Bangladesh, “M. Salahuddin & Co.” has the expertise to help you. You can benefit from our wealth of experience in assisting both businesses and individuals with their international needs.
For companies, we offer a wide range of services that can be scaled to fit the extent of your activities and adapted to suit you as your requirements change. Our extensive links with other professional firms, trade bodies, banks, and financiers mean that we will make your entry into or expansion from Bangladesh as smooth and as easy as possible for you. So, we can help you gather all necessary documents and permissions for incorporation in Bangladesh as a fully owned Foreign Investment and also can set, structure the standard operating system for the smooth functioning of the organization.
Company legislation requires businesses to perform many administration tasks that take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out trying to ensure you are complying with the Companies Act 1994.
The possible threat of penalties for failing to keep up with the changing rules is too great a risk to take. Here, we are able to relieve this burden for you. Our services include:
- General advice on company law
- Company formations
- Filing of annual returns on your behalf
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- Assistance in changes of directors, shareholders, addresses, and office details
- Bonus Issues
- Share transfers
- Registered Office Facility
INTERNATIONAL LIAISON & BRANCH FORMATION:
The liaison office acts as a channel of communication between the principal place of business or head office and entities in Bangladesh. The liaison office cannot undertake any commercial activity directly or indirectly and cannot, therefore, earn any income in Bangladesh.
Its role is limited to collecting information about possible market opportunities and providing information about the company and its products to prospective Bangladeshi customers. It can promote export/import from/to Bangladesh and also facilitate technical/financial collaboration between a parent company and local companies.
- Salahuddin & Co. has a good track record with its foreign clients of maintaining the local legal requirements to run these organizations smoothly.
FOREIGN INVESTMENT FUNCTIONS:
We provide data entry service in Bangladesh that helps foreign companies set up their business here and expand their business operations by opening doors to new business opportunities within the Bangladesh Market. We assist with all the government regulations and licenses and provide professional expertise in entering any market within Bangladesh.
“M. Salahuddin & Co.” provides customized solutions and data entry job works that help companies reduce the entry risk and compress the gestation time period for achieving break-even point and profitability in a minimum time period.
“M. Salahuddin & Co.” can do the following for you:
- Help with information tailor-made to your business area.
- Advise you about the best place to locate your business.
- Introduce you to the most relevant organizations, government agencies, and BEPZA, the agency responsible for the export processing zones (EPZ).
- Help you register your investment intentions with the BOI (unless your investment qualifies to be best located in an EPZ), so that you are eligible for all the various incentives on offer you need.
PERFORMANCE AUDIT:
Performance audit offers management invaluable insights into their organization’s operations by assessing how successfully objectives are being met. These observations in turn enable management to refine systems and further improve performance.
A performance audit is an independent evaluation of the measures implemented by management to ensure the efficient, effective and economic use of resources. A performance audit differs from the other audit functions that public sector organizations must already perform each year:
- The external or statutory audit performed in accordance with relevant auditing and accounting standards
- The internal audit which is control and risk-focused
- The audit of performance information which is a statutory obligation of the Auditor-General looks at performance against predetermined objectives.
ASSET MANAGEMENT & VALUATION:
“Asset management & valuation” is not a once-a-year exercise to satisfy auditors. It is crucial to sustainable service delivery and maximizing value to be delivered from assets!
We assist and work with municipalities in dealing with their asset management challenges by:
- Providing GAAP compliant fixed asset registers
- Performing asset verifications
- Performing condition assessments
- Providing our asset management system
- Striving to improve co-ordination across the departments in different cities/ areas and the office of the CFO to break down the silo effect and improve asset management
- Assisting with the answering of asset-related audit queries
- Advising on asset optimization and alignment to service delivery requirements
- Providing training in asset management and related concepts
- Developing and/or advising on policies and procedures
- Valuation of assets as per market condition at a required period of time
BRAND SURVEY, PRODUCT RESEARCH & PROMOTION:
Understanding customer perceptions of your business and products stands at the heart of brand awareness. Protecting, redefining, and building your brand can pose a daunting task to even the savviest marketers. Our market research surveys provide valuable intelligence as to your company’s marketing presence and the strength of your brand recognition–information that is critical to the success of your business.
DATABASE DESIGNING AND IT CONSULTING:
The computer has become an essential element in modern-day business. To keep up with the technological advancement all over the world our clients have been putting tremendous effort in computerizing their financial management departments. At M. Salahuddin & Co., we have come forward in time to make the transition from a manual system to a computer environment smooth for our clients. Our world-class computer consultants have several years of experience in database designing, implementation, and training in four different countries of the world including the UK and Germany. We serve our clients in every field of computer-based information systems – from office automation to data entry, we give our clients the service they want.
