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Certified Public Accountants

Auditors, Tax & Financial Advisors


About Us


Accounting, Audit and Investigations

Finance & Administration

Payroll Administration

Taxation Services

Corporate Secretarial & Registration Services........ 12

Our Clients

Auditors, Tax & Financial Advisors

About Us

MUGO-MUNGAI & CO., and its associate companies, whose roots go back to over 38

years ago are dedicated to providing a wide range of superior professional services to all kinds of companies, corporations, parastatals, Non Governmental Organisations (NGOs), governments and co-operative movement, - for them to identify and to capitalize on business opportunities throughout the world.

MUGO-MUNGAI & CO., provides creative and practical solutions in Accounting, Auditing, Investigations, Tax, Business and Corporate Finance Advisory, Planning and Strategy. We undertake a wide variety of feasibility studies and market research on development projects.

Company Secretarial and Registration services are provided by ASSOCIATED REGISTRARS LTD, a sister company established and incorporated in 1976. The company has long and wide experience in all matters pertaining to company compliance and administration, Initial Public Offering (IPO), share registration, etc. www.associatedregistrars.com Management consultancy and Human Resource Programmes which include Executive Recruitment, Training for Development, Information and Communication Technology (ICT) are provided by our associate company BENTLEYS INTERNATIONAL CONSULTING LTD.

This company was established in 1976 - www.bentleysinter.com We have particular skills and experience in donor funded work. We have worked with donor organisations and development agencies including the World Bank, European Investment Bank, East African Development Bank, United States Agency for International Development, the UK Department for International Development and Japanese International Co-operation Agency, to name a few.

4 | MUGO MUNGAI & CO. | COMPANY PROFILE Certified Public Accountants Auditors, Tax & Financial Advisors Our Team MUGO

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The audit assurance and advisory services offered by MUGO-MUNGAI & CO., go beyond merely meeting statutory requirements. We help our clients perform better. We listen to their needs, think about the business implications, and tailor the approach accordingly. We help organizations achieve their objectives, measuring performance and managing risk. Our audit approach emphasizes adding value to our clients business by enhancing quality and productivity.

Our audit assurance and advisory services include:

Statutory audits Management audits Special audits specifically tailored to clients’ needs Audit of public sector or donor-funded projects Special reviews and investigations Advice on regulatory compliance Formation and monitoring of risk management strategies Computer system assurance

Development, design, implementation and review of:

- Accounting policies

- Controls and systems

- Accounting manuals Advise on accounting standards and practices MUGO MUNGAI & CO. | COMPANY PROFILE | 5 Certified Public Accountants Auditors, Tax & Financial Advisors Our audit approach is risk-based, flexible; business oriented, adds value and provides proactive advice with clear focus on organizational goals and objectives. We pride ourselves on our independence and the resultant objectivity. Since our audit approach is risk-based, we rapidly address the key issues that affect our clients and their financial statements and accordingly plan our audits to focus timely and sufficient attention on identified risk areas.

We emphasise strengthening of systems and controls surrounding business process, as opposed to the traditional approach, which concentrates on the audit of financial records.

A large portion of consultancy work involves designing, evaluating and managing programmes and projects in developing nations and emerging markets funded by agencies such as European Commission, World Bank, EBRD, IFC, IADB, USAID, ADB and DFID-UK.

We believe that the success of any audit we carry out is dependent upon:

Understanding the client’s business, underlying risks, and the legislation and regu lations governing the business.

Understanding the client’s organizational, procedural and information system con trols as well as their operating structure.

Ensuring that superior expertise and resources are available to satisfactorily carry out the audit;

Adhering to the firm’s quality control standards.

All audits are carried out as per the firm’s Audit Procedures Manual, which is based on International Standards on Auditing. Our audit approach is principally risk-based, and focuses on obtaining and understanding of the scope of the assignment, and developing an audit strategy to achieve the set audit objectives.

The firm has developed industry specific manuals for industries such as banking and insurance that are subject to specific requirements. The staff involved in industry specific audits are required to undergo regular training to ensure that they are conversant with the operations of, and the risks attached to, these industries and the legislation and regulations governing these industries.

MUGO–MUNGAI & CO., are also able to conduct internal audits, ranging from complete outsourcing arrangements to setting up an internal audit function. We are able to provide clients with assurance that the right systems and controls are in place, assets are safeguarded, funds properly used and compliance with legislation.

Internal Audit procedures are tailored to each client’s requirements as well as industry specific needs

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Finance and Administration Running a successful business does not mean you should be caught up in the daily administration that contributes to its efficiency. Many clients entrust us with their financial administrative functions, so that they can focus their expertise to maximize profitability.

We can act as your financial manager or provide back-up support to existing financial accounting functions on a temporary or long-term basis.

Our services include:

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Payroll Administration Our clients especially value the confidentiality and efficiency of our payroll service and have demonstrated this by entrusting us with the management of payrolls for hundreds of staff, from top management to low cadre personnel every month. Using one of the most advanced and flexible yet secure computer payroll systems available today, our payroll service is designed to be a single-step solution that can limit your payroll work to submission of the monthly input data and the payroll funds to us. We then do the rest.

Our work most commonly includes:

Preparation of payroll, pay-slips and payroll reports Preparation of remittances Issuing of payroll cheques and transfer instructions Administration of pension schemes Design of tax efficient emolument packages Liaison with statutory authorities and registration of new employees Filing the year end returns with statutory authorities Outsourcing Book-Keeping Services At MUGO-MUNGAI & CO., we recognise the fact that a large number of practitioners in different professions and others do not find time to attend to book-keeping functions in their offices.

We are therefore offering these vital services. Our expert accountants visit clients in their offices once or twice a month or as needed under a special arrangement where they enter all the books of account up to-date. The periodic up-dating of financial records makes it easy when preparing annual accounts at the close of the year for purposes of Tax etc. Confidentiality for our services is always guaranteed.

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Direct Tax Few people have the time to keep up with new complex changes in statutory requirements.

If you don’t know of the latest developments, you could be paying more tax than you have to or less tax than you should and therefore risking penalties.

Our specialized tax professionals have the experience and expertise to help you:

In tax planning Minimise your tax exposure Maintain tax records and ensure compliance with income tax regulations Liaise with the relevant revenue authorities.

Our tax professionals provide comprehensive business solutions through a wide range of services. Our approach is to provide proactive planning and advice, and tailored assistance.

We keep you in regular contact and have an extensive database of information on tax related products.

We provide tax compliance services in the following areas:

Preparation and filing annual tax returns for corporations, partnerships and individuals Tax review of financial statements and giving appropriate tax advice Preparing tax computations Computing tax payments and pursuing tax refunds Filing end of the year PAYE returns Lodging objections for incorrect assessments

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VAT Planning

An area of VAT that many companies neglect is planning. Our VAT specialists assist clients in planning VAT matters, specifically in:

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We offer clients practical planning ideas that greatly enhance cash flow management and input tax recovery.

VAT Audits & Investigations VAT audits and investigations by the Revenue Authority are on the increase. Most companies find these audits disruptive and inconvenient. In many situations, companies find themselves in difficulties as a result of providing inadequate or misleading information to the Revenue Authorities or giving appropriate information but in an inappropriate manner. We assist our clients in handling the audits and investigations, thereby ensuring that they are conducted in the least disruptive manner. We also ensure that, where possible, all issues raised by the Revenue Authorities are resolved in a timely manner.

VAT Refunds The law requires that all VAT refunds claims, exceeding certain limits, be audited by certified accountants. Our VAT specialists undertake such audits for the benefit of our clients. As part of value adding, we advise on the most beneficial ways of accounting for VAT and other activities that the company may require to undertake to ensure speedy payment of refunds. We liase with the VAT department to ensure that there is no undue delay in remittance of these refunds

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These services are provided by our associate firm - ASSOCIATED REGISTRARS LTD.

The firm has served a wide range of clients since 1976 when it was founded and incorporated.

Excellence in professional services is wholly dependent on the quality of the people providing them. Our team of skilled staff comprises of qualified company secretaries, registered with the Institute of Certified Public Secretaries of Kenya (ICPSK) A client has a right to expect a great deal more than merely a competent Company Secretary/Registrar. Chief amongst client requirements is a team that understands the business and industry and the key issues facing clients in a highly competitive market. A client needs a Company Secretary/Registrar who will work as part of the team with management.

In addition, clients need to be assured of access to senior staff-partners and managers, so that the greatest benefit can be gained from proactive business advice.

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Company Secretarial Services

Our services include:

Incorporation of new companies Registration of branches of local and foreign companies Registration of business names and changes Processing of change of names of companies and de-registration and dissolution of companies.

Keeping and maintenance of company statutory records, i.e registers of members, directors, secretaries, mortgages, charges, registered office of the company and any related changes Amendments/alteration of Memorandum and Articles of Association.

Preparation and filing with the Registrar of Companies of all statutory returns within the prescribed period Convening of and attendance of board meetings, general meetings and committee meetings and preparation of minutes Preparation of resolutions on a day to day basis Advisory services on compliance with applicable laws, rules and regulations Advisory services on corporate, secretarial and legal matters, including contact with government organizations, agencies and other bodies Provision of security for statutory records and legal documents Safe custody and use of Company Seal Processing of increase of capital and allotments Registration of Non-Governmental Organisation (NGOs) Outsourcing Services Registration and Company Secretarial Services are available on outsourcing basis. The services help add value and cut costs for our clients.

Email: info@associatedregistrars.com Website: www.associatedregistrars.com

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UKC Appt. 3, 2nd Floor, State House Road, P.O. Box 42844-00100 Nairobi Kenya, Email: info@mugomungai.com Tel: (+254) 20 3556055 Cell: 254 - 722 - 486194 / 0737 - 881357 Website: www.mugomungai.com

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