Messrs KEC Consulting, a firm of Human Resources Development, Cost Accountants & Financial Consultants was formed, based on over 20 years of experience of the Principal Consultant. The Firm is duly registered with Corporate Affairs Commission, (CAC) Abuja, with Certificate of Registration BN984593 and office of Auditor – General of the Federation.

SERVICES

OUR PROFESSIONAL/BUSINESS SERVICES

The fact that the complexity of modern business organisations has increased in recent times cannot be over emphasized. There is need for business organisations to obtain expert advice and guidance from reputable professionals in order to survive in a competitive environment. With our intimate knowledge of the internal operations of the Companies, Federal and State parastatals and Local Councils, we can be called upon to undertake work in the following areas: -

FINANCIAL SERVICES

Financial Services could be in the area of review of Audited report and accounts, review of existing Operational and Financial Guidelines, determination of adequacy of Internal Control Systems, cost reduction Special Investigation, Merger and Acquisition, Receivership and Liquidation. In discharging our responsibilities, we try to express a professional opinion on the financial statements presented to us by our clients. Expression of professional opinion is normally done in compliance with any relevant statutory obligation. Services may be classified into two, namely:-Statutory and non statutory. Under Statutory Investigation, the legal requirements governing them are laid down in various enactments covering the types of organisation; non-statutory assignments are carried out at the request of the interested parties. These include sole traders and partnerships. They are free to specify the extend to which they wish the exercise to apply. Our primary objective during the assignment is to obtain every information and evidence to express an independent opinion on the financial statements of our clients. In attaining this objective, we normally adopt the following techniques:

(a)     Evaluation of the Internal Control System in force and testing its efficiency in operation.
(b)     Use of compliance and substantive tests.
(c)      Use of analytical review procedures such as studying significant ratios, trends and other statistics, and iinvestigation of any unusual or unexpected variations.
(d)     On – the – job supervision of field –staff.
(e)      Critical review of working papers
(f)      Use of flowcharting.
(g)     Use of International and Local auditing standards.
(h)     Adoption of other relevant auditing and accounting concepts.

 COMPUTERISATION AND INSTALLATION OF ACCOUNTING SYSTEM

The complexity of modern business organisation has introduced the era of “Computer Revolution “. We provide the following computer services to our clients: -

1. Installation of an adequate computerized accounting system that will meet the needs of our clients.
2. Preparation of feasibility studies, systems analysis and design for the installation of the computers.
3. Identification of computer hard-wares and software’s that will meet the requirement of our clients.
4. Advisory services on the selection of appropriate computer vendors.
5. Recruitment and training of computer staff.
6. General computerization of accounting system.

   STAFF TRAINING, RECRUITMENT AND SELECTION

The objectives of any organisation can only be achieved with well-trained and competent staff. There is need to continually update the technical knowledge of staff through a well-panned training programme. We organize programmes in the following areas: -

1. Fixed Assets Accounting
2. Cash and Bank Accounting
3. Stock control, Stock taking and Stock accounting
4. Preparation of bank reconciliation statements
5. Keeping of accounting records for debtors and creditors
6. Preparation of Budgets
7. General Book-keeping
8. Treasury management.
9. Basic Accounting and Record keeping for non-Accountants.
10. Recruitment of qualified and competent staff.

 MERGERS AND ACQUISITIONS

We provide expert professional advice on reconstructions, reorganizations, mergers, disposals and acquisitions of business organisations, Companies amalgamate or merge for economic or tax reason. We help our clients in the preparation of the relevant financial statements necessary for merger or acquisitions. We also assist in the preparation and monitoring of the terms and mode of mergers and acquisitions.

PROSPECTUS REPORTING

We prepare prospectus reports for companies that want to float shares. This is achieved by disclosing the following: - Profit/losses for the past five years, Rates of dividend paid on each class of issued share capital for each of the previous five years. Assets and liabilities as at the last balance sheet date.

PROJECT FEASIBILITY STUDIES

We prepare feasibility studies necessary for the negotiation of finance for new projects or projects that are about to expand. We normally carry out a detailed study of the location of the proposed project with a view to ascertaining the economic viability. We also assist in the preparation of cash flow statements required by banks.

INCORPORATING BUSINESS ENTITIES

We engage in the incorporation of limited liability companies. We also help limited liability companies requiring increase in their share capital and other statutory requirements.

FUNDS MANAGEMENT SERVICES

We provide Funds Management Services to our clients in the following areas: -

1. Cash Management
2. Treasury Management
3. Monitoring disbursements from a project/Fund account
4. Prompt preparation/investigation of Bank reconciliation statements.
5. Revolving loan system management
6. Ensure proper utilization of disbursements
7. Prevent diversion of Fund.

  ACTUARIAL VALUATION

This is a specialized area that requires adequate knowledge of Life (Individual & Group) Insurance Scheme and guidelines as stated in the approved Trust Deed & Rules by the supervising Federal Office of Establishment and Management Services and expectation of other interest parties:

The following areas are covered during the audit exercise: -

1. Federal Government/Employers Annual grants
2. Funding Instructions/ Allocation
3. Types of Scheme
4. Underwriters records/accounts and Statement of Accounts
5. Trustees’ reports
6. Investment analysis and report (Evidence, Certificate, Instruments and existence)
7. Information about Active, Members, Deferred Pensioners current Pensioner, Trust Deed & Rules.
8. Bank Accounts/Audited Accounts.
9. Information of all exists and type of exists since the date of last/previous investigation.
10. Report of previous actuarial investigation. 

A comprehensive actuarial valuation report of a pension plan will contain the following: -Introduction

• History of Gratuity & Pension Scheme.
• Financial information & analysis
• Eligibility, Contribution, Benefits, Membership.
• Valuation Assumptions.
• Methodology  
• The Fund
• Results of the Valuation
• Summary & Recommendations
• Statistical information & appendices.   
  
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