We were referred to this client from a satisfied existing customer. They were previously with a Big 4 firm that provided audit, corporation personal tax services and were a business with 3 main partners. The owners wanted more value from their resources.
Reduce taxes for business and owners to increase the cash in their bank, Identify ways to improve profitability and cashflow due to a downturn in the industry and Undertake audit compliance work to identify areas of financial improvement.
We assisted the client in:-
- Tax planning and business restructuring.
- Prepare financial forecasts and facilitate the client to identify cost savings and plan for profit and cash flow improvements.
- Annual audit to identify potentially serious issues within the finance operation.
- Review of management information to identify significant improvements possible to the accounting and reporting policies.
Within 6 months client achieved an annual tax saving for the business, the budget helped the businesses go from a loss-making to a profit-making position, audit identified weaknesses within the finance operation and set out the actions required to resolve them which enabled the client to put the appropriate safeguards in place to prevent any future problems in this area and review help implement change in policy which not only improved the accuracy of the financial information but also helped them obtain a better standing with the bank.
In few years, we have been directly responsible for increasing the client’s net worth in addition to the support and advice which has enabled them to grow the business, and they view us as a valuable member of their team.