Accountancy
We want the client to concentrate on his business, which is the most important thing for him. We handle clients’ book-keeping and accounting systems, ensuring that they are compliant with accounting regulations.
When these services are outsourced to us one will also be saving on full-time clerical costs and be able to concentrate on more important business issues, which only management can handle.
Moreover, one would benefit from expert financial advice on the best way forward to grow one’s business.
Our Expertise
Our accountancy department is staffed with competent and qualified people in the field who hold not only accountancy degrees but also specific diplomas in relation to Value Added Tax legislation, which ensures that our clients are provided with high end advice which they can trust.
Having updated accounting records is a must within every organisation. By entrusting this service to us, it will allow the businessman to put his mind at rest that his accounting records are being updated by professional persons in the field on an ongoing basis.
Maintaining accounting records is not just a matter of inputting data within a system, but also making sure that the data is being entered according to the VAT Legislations, the applicable International Accounting Reporting Standards and that the statutory documentation related to the same, is being compiled and submitted in a timely and orderly manner.
Business Development
Our vision is that of helping our clients evolve and grow their businesses. Through this vision, we cannot offer only the traditional accountancy services, but we go the extra mile to provide our clients with business development advice at each and every point of contact.
Primarily, we ongoingly inform our clients of opportunities which they may avail from within the market, such as EU Funding grants and schemes. Clients are specifically informed of such grants through the identification exercise which is done through the normal course of updating the clients’ accounting records. We pride ourselves to be leaders in this area. Our department will research any new opportunities which may arise and will communicate this to our various clients coming from diverse sectors.
Apart from the information provided to clients, we exercise ourselves in providing information to clients on the outcome of their VAT Returns, Management Accounting, Audit and Assurance and taxation matters. Our findings are discussed internally with the team and communicated to the client for the better re-engineering process required by the enterprise.
Communication with the client is maintained at all times, not only to feed the client with our opinion stemming from the above mentioned assignments but also to keep in touch with the clients’ requirements and future goals. We conduct numerous meetings with clients to understand their business and to ensure that our data is always updated with the latest information.
This advice may also go into the extent of assessing each process within the clients’ organisations and pinpointing the feasibility of such process, its weaknesses and advice on how one can improve. The client is also updated on industry’s best practices in order to ensure optimum efficiency and cost reduction within clients’ organisations.
Clients are also assisted in the financial requirements and necessary funding. This is done through our Bank Health Check service. Through this service our expert personnel carry out an analysis of the financial situation of the business together with carrying out an analysis of the current financing arrangement.
Clients are then advised on ways through which their current financial arrangement may be ameliorated. The client is then assisted in approaching his or her bank in order to discuss the way forward in terms of such arrangement. We also assist clients in consulting other banking institutions in order to obtain the best deals.
We do not only assist clients who require re-financing of their current arrangements but also assist clients in the case of new business ventures or projects. New opportunities for new start-ups are communicated ongoingly to leverage the business.
Our advisory department is geared to provide clients with any report which is requested by the bank such as feasibility studies, cashflows and business plans. Similarly to all our services, these are prepared in a timely and cost effective manner.
Management Reporting
The preparation of management reports on a regular basis, provide Directors with frequent and more up to date information on the financial performance of their company. This is key in order to always ensure that Management is making informed commercial decisions which in turn will minimize the risk to the enterprise.
We can prepare management accounts according to the frequency that the Management request, be it on a monthly, quarterly or six monthly basis. In the case of foreign shareholders, management accounts are recommended by our advisors in order to assess in advance, the potential dividend distribution that may take place before year end.
We can assure our clients, that with our bespoke advice following the preparation of these reports, our recommendations will be provided immediately to rectify any defalcations or deficiency in the accounting systems.
Liasing with Auditors of Parent Companies
In the case of international clients setting up a structure with a trading company in Malta being the subsidiary of a holding company registered outside Malta, we can also take care of the accounting and liaising as required with auditors and accountants abroad. This is also the case when the clients set up a branch in Malta, whereby we liaise with the accounts and audit department of the client in order to obtain the necessary documentation for statutory requirements.
Bank Accounts
Malta is not only popular for its strong and stable political and economic environment but also for its robust and efficient banking system. Malta hosts a number of established banks both locally based and international banks. The two major banks in Malta are Bank of Valletta plc and HSBC Bank Malta p.l.c.
Banks in Malta undertake a rigorous due diligence process in accordance with Anti Money Laundering regulations. This has been the key to the maintenance of the robust banking system in Malta. At the same time, this process may bring about ambiguity to the client. Therefore our corporate department handles the whole process on behalf of the client, whereby we do not only liaise with the respective bank of choice of the client, but also prepare and submit all the necessary documentation.
We also handle on behalf of the client other ancillary banking services including but not limited to, the opening of personal bank accounts for the client, applications for online banking, applications for debit and credit cards, payments to third parties and issuing bank drafts or cheque books.
Through our international network, Parker Russell International, we are also able to extend these services to any other jurisdiction according to the preference of the client.
Company services
Our company services are provided by One2One Consulting Ltd which is Authorised to act as a Company Service Provider by the Malta Financial Services Authority
Trusts and Fiduciary services
Our trusts and fiduciary services are provided by Mercury Management Limited which is authorised to act as a Trustee by the Malta Financial Services Authority
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