Firms Profile - DMCO (1)

ISLAMABAD----RAWALPINDI----PESHAWAR----LAHORE----KARACHI

Suite No. 3, First Floor, Warraich Plaza, I-9 Markaz, Islamabad, Pakistan. Tel : 0092-51-4431316 Fax : 0092-51-4433501 Cell : 0092-321-2269655 Email : [email protected], [email protected] Web : www.dmco.com.pk Like us on:

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www.facebook.com/DanishMehmoodCoOfficial

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DANISH MEHMOOD & CO. The Profile Chartered Accountants

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1. ABOUT US - The Firm 1

2. WHO ARE WE - Our Team 2

3. WHAT WE DO - Our Premier Services 3-9

4. WHAT WE HAVE ACHIEVED - Our Satisfied Patrons 10


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During 2001 professionals from audit, finance, corporate and tax background mingled and formed "FinanTax Consulting" firm. Right from beginning, FinanTax maintained quality of services to its clients who not only turned into satisfied patrons but also advocates of the firm which accelerated FinanTax growth. Since then FinanTax experienced growth with excellent pace. This growth was made possible by firm's culture, which instils a commitment to the principle tenets upon which this profession was built value, relationships and integrity. During 2014 Mr. Danish Mehmood joined this team and FinanTax was converted to "Danish Mehmood & Co. (DMCO)" registered with the Institute of Chartered Accountants of Pakistan (ICAP). This transformation increased abilities of the firm and enabled it to provide wider range of services to business sector.


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E ARE

Our Premier Team!

Our team includes Chartered Accountants, Certified Public Accountants, Cost and Management Accountants, Tax Practicing Lawyer, Intuit QuickBooks and Microsoft Dynamics Certified Professionals from group of big professional firms. Therefore, we possess the necessary competence to provide quality service to our range of clients at a competitive price. We can offer our clients the expertise and assurance they need to manage their organization effectively and proactively.

The team is escorted by Mr. Danish Mehmood who gels the entire spectrum of national and international experience in the domains of Finance, Audit, ERP Implementation, Management, Organization Development, Business Process Outsourcing and Systems Development. He holds Chartered Accountancy certification from the Institute of Chartered Accountants of Pakistan. He worked for Grant Thornton (Public/Chartered Accountants) UAE and Pakistan for over 7 years and also at management position of a UAE based well established multinational group for over 2 years.

"Integrity without knowledge is weak and useless and knowledge without

integrity is dangerous and dreadful." ............ Samuel Johnson

----------Integrity

----------Objectivity ----------Confidentiality

----------Professional Behaviour ----------Professional Competence and Due Care

IFAC's FUNDAMENTAL PRINCIPLES FOR PROFESSIONAL ACCOUNTANTS


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Our Premier Services!

Audit - We conduct audit of Companies (both Public and Private), NGOs, Partnerships and Proprietorships in accordance with International Standards on auditing (ISAs);

Audit and Income Estimation - Conduct audit and income estimation assignments for bank loan purposes, giving special purpose reports on projections and future outlooks;

Financial Statements Preparation in accordance with IFRSs, AFRS of ICAP and requirements of the Companies Ordinance 1984;

Internal Audits - Conduct internal audits by identifying governance and transaction level controls, performing walk through and tests of internal controls, reporting weaknesses identified along with recommendations in areas designated by company's management in Terms of Reference;

Forensic Audit - Investigate and examine financial frauds and issue incident report including recommendations for implementing preventive controls and enhancing bypassed controls;

Due Diligence - Conducting due diligence assignments to confirm all material facts with regards to sale;

Taxation - Income and Sales Tax registration, filing of tax returns, appeals, refunds claims etc.;

Advisory - Provide advisory services for planning corporate and group structures; Companies Incorporation - Incorporating companies and NGOs as per applicable laws and

regulations; Secretarial Services - Providing secretarial services e.g. circulating notice of meetings along

with agenda, drafting minutes of meetings and resolutions passed, submission of annual return and other forms with registrar etc.;

Quickbook Solutions - Providing complete Quickbook solutions including licence purchasing, implementation, training, up-gradation, add-ons and annual maintenance contracts;

Accounting and Bookkeeping - Providing accounting and bookkeeping services, monthly closing, preparation of monthly management accounts, variance analysis and other MIS report;

System Manuals - Preparing SOPs and Financial Reporting Manuals; and Agreed Upon Procedures Performing other agreed upon procedures and issuing report there

to.


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Some details

AUDIT Our audit philosophy is based on focusing to those areas that have the most potential for causing material misstatements. We make sure that our audit is effective and efficient with proper planning of nature, timing and extent of audit procedures. For this purpose we use modern audit techniques and adequate professional compliance with quality control standards to carry out our audit.

Apart from audit report we also report to our clients accounting and internal control issues (other than issues effecting audit opinion) identified during the course of our audit in the form of Letter to Board of Directors and Management Letter stating recommendation for dealing with key aspects of the issues. Such reports assist client management in establishing effective and proactive internal control environment.

AUDIT AND INCOME ESTIMATION We are well versed with Prudential Regulation requirements with regards to Audited Financial Statements of prospective borrower which needs to be submitted along with LAF (Loan Application Form) to bank/DFI.

Our staff includes professionals who are experienced in performing audits of Banks, DFIs and Leasing Companies engaged in providing loans and other credit facilities to their customers. This makes us well aware of credit risk associated with these facilities. Considering this we design our audit procedures to assess and evaluate borrower's ability to continue as going concern and honour its obligation in accordance with agreed terms towards bank. Apart from this we ensure specific disclosures are included in financial statements with regards to lien/mortgage/pledge etc. on borrower's assets and contingent liabilities which can assist Credit Division of bank to calculate exposure as per guidelines regarding limit on exposure to a single person under Regulation 1.

Our audit methodology targets our audit efforts on those areas of financial statements which represent the greatest risk. This risk based audit approach enables us to do effective audit and does not result in excessive audit work thus efficiency is also achieved. This effectiveness and efficiency allow us to provide this service at economic rates. Thus we are able to manage both lenders and borrowers to their entire satisfaction.


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INTERNAL AUDIT We help organizations achieve their stated objectives by using a systematic methodology for analyzing business processes, procedures and activities with the goal of highlighting organizational problems and recommending solutions through our internal audit procedures and reports.

Our scope of internal auditing within an organization is broad and may involve efficacy of operations, the reliability of financial reporting, deterring and investigating fraud, safeguarding assets, and compliance with laws and regulations.

We give advice to management and the Board of Directors (or similar oversight body) regarding how to better execute their responsibilities. Our reporting patterns may vary according to needs and requirements.

TAXATION We provide complete range of taxation services covering all aspects of Income tax, Sales tax, Wealth tax or any other tax issues in order to provide optimum satisfaction to our clients.

Our Tax Compliance Services cover tax registration, preparation and filing of annual Income Tax Returns for corporate, AOPs and individual tax clients, monthly filing of withholding tax statements, monthly filling of Sales Tax Returns, employees income tax including designing efficient compensation structure for employees, representation during tax audits and before appellate authorities/forums.


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We ensure that our client get the most beneficial tax treatment whilst complying with complex requirement of the tax regulations.

COMPANY INCORPORATION AND SECRETARIAL SERVICES

We can provide a one stop service to get your business venture up and running rapidly. Our expertise will reduce the administrative burden and leaving you free to concentrate on developing your business. Our services are not limited incorporation of companies under the Companies Ordinance 1984, but also include formation of Trust, NGOs/NPOs, AOPs, cooperative societies and registered partnerships.

Before commencing incorporation we advice on best corporate legal structure based on your requirements of business and its geographical location.

BUSINESS PROCESS OUTSOURCING We specialize in servicing small and medium sized businesses. We offer a diverse range of solutions and BPO Services to our clients. When you use our BPO services, you enjoy the following benefits:

Professional and qualified accountants Guaranteed Privacy and confidentiality Complete transparency of the process 100% Data Security Guaranteed


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Our BPO Services include: Accounting Services

Financial Statements preparation Bookkeeping (transaction processing, maintenance of general ledger, accounts receivable,

accounts payable, fixed assets accounting, inventory management, invoicing, collection, reconciliation statements, payroll processing)

MIS Reports We create easy-to-understand, concise financial and analytical reports compiled by the most popular accounting software in the industry and tailor the created reports to your specific needs.

Payroll Processing

Maintaining payroll happens to be one of the most time consuming and costly tasks of any business operation. Outsourcing payroll processing services to us will enable you to minimize your routine tasks at an affordable cost. Our payroll processing services are cost-effective. If you wish to avail our cost effective and professional payroll processing services, simply contact us with your requirements and we will provide a solution that best meets your needs. Under our professional payroll services you will receive following from us:

Appropriate calculation and withholding of taxes Calculation of payroll taxes to be paid by employer Filing of payroll reports Depositing of withheld amounts with tax authorities Printing and filing of year-end employee tax documents with tax authorities such as Income

Tax Return Maintenance of Individual employee’s control account (historical record of advances

against payroll, deductions, liabilities, benefits, bonuses etc.)


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Policies and Procedures Manuals We write manuals for all types of organizations. Through our years of experience we have developed expertise in development of system manuals that include accounting, operational, credit, human resource, internal audit and risk management manuals.

Financial Modelling Services

Financial modelling has a key role to play in making business decisions provided the models are based on valid assumptions and properly evaluated associated risks. Businesses must ensure that their decisions are not distorted by errors arising during the model development process.

Our spreadsheet modelling services team uses the most sophisticated spreadsheet model development standards, software and training that are available for Microsoft Excel®, providing our team with a unique ability to efficiently deliver best practice spreadsheet models at a low cost. Our team can develop best practice Excel® spreadsheet models for any purpose in any industry. Our financial modelling experience allows us to critically review and develop stronger financial models, including.

We have a well-established track record in providing financial modelling support to clients across a variety of industries.


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Software Solutions and ERP Implementation Under Accounting Software Consultancy we offer assistance in choosing or introducing a new computerized system which can manage your daily accounting transactions and help your accounting staff to create financial reports for you easily. With over 10 years of experience to draw upon you can be guaranteed that we have the skills and knowledge necessary to make sure that the investment you make in your system is not wasted. We can assure that your organization is using the most appropriate accounting software.

Currently we are providing professional consultancy in accounting softwares, QuickBooks Accounting, QuickBooks Point of Sale, Peachtree, Tally and Sage.

If you are thinking of introducing new software, or are having trouble with your existing one then you can consult any time with our specialists. FinanTax is the only authorized premier reseller for Intuit QuickBooks in Pakistan. (http://enterprisesuite.intuit.com/resources/experts/international.jsp)

We also provide project management or IT Department management skills to help manage any IT change you may be considering.


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WHAT WE HAVE ACHIEVED

The firm has achieved various satisfied patrons. Below is the concise list of our clients that have been served in recent period to reflect on the ability of our organization and the understanding of the different sectors including Telecommunication, Non Profit Organizations, Manufacturing, Trading and other Small & Medium Enterprises etc.. Our Satisfied Patrons As FinanTax Consultants:

Development Alternative Inc. (DAI), Pakistan Office Read Foundation, Islamabad Community Uplift Program (CUP), Islamabad Lok Sanjh Foundation, Islamabad Legal Aid Assistance, Karachi Naz Male Heath Alliance, Lahore Human Appeal International Pakistan Office, Islamabad Help in Need, Islamabad UNHCR Funded Project –Struggle for Change SUNGI Development Foundation, Abbottabad Islamabad Clinic Serving Infertile Couples (UK Based Hospital) Frontier Medical College, Abbottabad Family Health Hospital, Chakwal Noor Floor Mills, Islamabad Infosurf (Private) Limited (A UK Based Premium Web Listing Company) Awan CNG Station, Islamabad Computer & Networking Services, Islamabad Industrial Computer Services, Islamabad Pangraphics (Printing Press) New Airpot City Islamabad Zoom Group of Companies (Engineering Agency) Five Star Developers LLC, Dubai Virtelligence Information Services (USA Based HR Recruiting Agency) Fazal Sultan Group of Companies (Information Technology, C.TV Services, Manufacturing

Units, Travelling Agencies etc.) Eastern Power Company Limited Medcare Pharma (Pharmaceuticals Company) Minerva Advertising (Advertising Agency) Pak Onyx Marble & Granite (Marble Product Manufacturing Unit) United Packages (Corrugated Box Manufacturer)

As In-charge Auditor (by Mr. Danish) during Articleship:

The SEARLE Company Limited


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Ismail Industries Limited Gul Ahmed Textile Limited Silk Bank Limited IBA Karachi Security Leasing Corporation Limited Thardeep Rural Development Programme (TRDP) Deloitte Corporate Finance Limited IFA Hotels and Resorts 3 Mauritius IFA Hotels & Resorts Group UAE UBL Insurers Limited Pakistan Reinsurance Company Limited Al Yousuf International Construction LLC Jubilee Spinning and Weaving Mills Limited Jubilee Energy Limited Mirza Sugar Mill Limited SME Bank Limited Network Leasing Corporation Limited Al Asif Sugar Mill Limited Meritex (Pvt) Limited M3 Tech AKN Messaging Technologies (Pvt) Ltd Pegasus Consultancy (Pvt) Limited AMZ Ventures (Pvt) Limited Employers Federation of Pakistan - NGO (Various Projects) SM Rizvi Textile Institute Al Yousuf Capital LLC Al Yousuf Digital LLC IFA Residential Services FZE Intersun Group UAE/Azersun Group Azerbiejan East West Life Insurance Company Limited National Investment (Unit) Trust - NIT GEO NEWS GEO Entertainment SAMAA TV


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For any enquiries about our services call us at 0321-2269655 or email us at [email protected].

Firms Profile - DMCO (1)

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