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Auditing

As a public accounting firm, the major part of our practice lies in the Audit and Accounting field, the principal service being the independent Audit.

We act as Statutory Auditors reporting whether the Financial Statements comply with Nigeria Legal requirements, ethical guidelines from the Institute of Chartered Accountants of Nigeria (ICAN) Auditing Standards approved by ICAN and also the applicable International Auditing Standards.

 

Accounting Services

We provide advice and assistance for clients on a wide variety of accounting matters including:

  • Developing of a suitable accounting system or improvement of the existing one.
  • General book keeping, accounting and ledger entries, opening of accounting books
  • Preparation and presentation of management accounts, provision of information for management budgets, cash and profit forecast.
  • Provision of accounting support to clients who require additional accounting services
  • Investigation and Exploratory accounting in accounting problem areas, or areas of suspected fraud or misappropriations
  • Preparations of business valuation statement either for specific business situations or for new start up companies.

Taxation

Our partners are members of the Chartered Institutes of Taxation of Nigeria.
From January 1st 1999, only members of the Institutes are allowed to practice Taxation in Nigeria. With this dispensation, and couple with yearly review of Tax laws in the country, tax practice became very complex. Our partners are up to the task.

We provide comprehensive service on taxation for corporate and individual clients in the following areas:

  • Companies Income Tax
  • Personal Income Tax
  • Petroleum Profit Tax
  • Capital Gains Tax
  • Sales Tax
  • Value Added Tax
  • Withholding Tax.

We advice all clients regularly on the changes in Tax Laws and Regulations through our Memorandum which we publish each year on the Government’s Annual Budget.

We assist clients to resolve general business problem, including tax negotiations, foreign exchange remittance problems and other related matters, employment of expatiates, negotiation with Labour Unions, etc. We assist clients in obtaining statutory approvals and processing Statutory documents for companies and individuals i.e.

  • Procurement of Tax Clearance Certificate
  • Corporate Tax Planning
  • Tax Returns and Agreement of Tax Liabilities with the Federal Inland Revenue Service on behalf of clients
  • Certificate of Acceptance of Capital Expenditure
  • Certificate of Capital Importation.

We handle our clients’ tax matters with appropriate tax authorities both at the Federal Level for the Incorporated Companies and State Level for the employees and ensure that Tax Clearance Certificate are obtained as at when due. We have also participated in the Tax Monitoring Exercise of the State and Federal Governments.

Our partners are members of the Chartered Institutes of Taxation of Nigeria.
From January 1st 1999, only members of the Institutes are allowed to practice Taxation in Nigeria. With this dispensation, and couple with yearly review of Tax laws in the country, tax practice became very complex. Our partners are up to the task.

We provide comprehensive service on taxation for corporate and individual clients in the following areas:

  • Companies Income Tax
  • Personal Income Tax
  • Petroleum Profit Tax
  • Capital Gains Tax
  • Sales Tax
  • Value Added Tax
  • Withholding Tax.

We advice all clients regularly on the changes in Tax Laws and Regulations through our Memorandum which we publish each year on the Government’s Annual Budget.

We assist clients to resolve general business problem, including tax negotiations, foreign exchange remittance problems and other related matters, employment of expatiates, negotiation with Labour Unions, etc. We assist clients in obtaining statutory approvals and processing Statutory documents for companies and individuals i.e.

  • Procurement of Tax Clearance Certificate
  • Corporate Tax Planning
  • Tax Returns and Agreement of Tax Liabilities with the Federal Inland Revenue Service on behalf of clients
  • Certificate of Acceptance of Capital Expenditure
  • Certificate of Capital Importation.

We handle our clients’ tax matters with appropriate tax authorities both at the Federal Level for the Incorporated Companies and State Level for the employees and ensure that Tax Clearance Certificate are obtained as at when due. We have also participated in the Tax Monitoring Exercise of the State and Federal Governments.

Corporate Finance and Recovery Service

We advise businesses on the most appropriate method of obtaining finance and assist in their applications to Banks and other Financial Institutions. We also collaborate in the presentation of budgets, cash flow and profit forecasts

We provide innovative and timely solutions in circumstances where an organisation’s future viability is in jeopardy. We offer consulting services designed to deal with a company’s financial, liquidity or management crises leading to appropriate restructuring or re-organisation. In other circumstances, we provide statutory services such as acting as formal administrators in the role of a receiver or liquidator.

We typically render the following services:
Business Monitoring: This involves periodic review to assess and report on the organisation’s progress against the recovery and turnaround criteria.
Turnaround and Recovery Strategy: We advice troubled companies leading to the development of a rescue and implementation plan.

Management Advisory Services

Suleman Shittu & Co. provides a series of other services, which are grouped as management advisory services.
The principal areas in which the firm’s management advisory experts may be of assistance are those closely related to our work as auditors and accountants. These include:
Accounting, system design, reviews, redesign and update.

  • Cost control and Budgeting
  • Management Information System
  • Feasibility Studies
  • Executive Search, Personnel Policy and Recruitment
  • Business Permit and Expatriate Quota etc.

Company Secretarial and Legal Services

Companies Law in Nigeria requires certain formalities which relates to companies registration. The keeping of statutory books and the preparation and filing of periodic Statutory returns with the Corporate Affairs Commission.

We provide assistance in these areas to both new companies and the established Audit Clients. These Secretarial and Legal Services include:

  • Incorporation of new companies
  • Arranging annual general and other meetings, preparation of minutes of Board of Directors and general meetings
  • Filing of relevant returns, i.e. annual returns, returns of allotments etc.
  • Attending to and advising on statutory formalities.
  • Routine legal advice and drafting of contracts of agreements
  • Obtaining expatriate quotas and certificate of approval status for foreign investments.

Staff Training

In Suleman Shittu & Co., people are our resources and assets; we place emphasis on professionalism, technical competence, dynamism and high level efficiency.
We provide career-oriented professional training for our clients’ personnel. In this regard, our curriculum covers accounting, auditing, tax planning and compliance. We also provide seminars and workshop for our clients’.

 
 
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