Services.
Our services are primarily aimed at those who own and run a company – big or small. Below you will find which services we offer you and your company.
Through a wide range of audit, accountancy and business advisory services, we aim to offer our local and international clients services of the highest standards and to add value to their business endeavors. We achieve this by keeping abreast on current issues and identifying future challenges. We talk frequently with our clients and advise them on all issues pertaining to their activities. Understanding their operations and gaining an in-depth knowledge of their activities is key to our service approach.
We are servicing clients in almost every industry and of all sizes, and we do so whilst maintaining the personal attention and partner involvement that clients demand.
We maintain our quality services to the highest of standards as we undergo regular Quality Assurance and Peer review visits by our network’s technical team. Sharing good working practices helps to maintain high quality levels and consistency of approach to work carried out by member firms.
Audit & Assurance
We strive to deliver high quality audit services, which add value to your business. Through robust audit tools, in-depth knowledge of our client’s activities together with the experience and know-how of our people, MG & AL delivers high quality audit services, adhering to the highest standards of independence, ethics, professional objectivity while applying technical excellence.
Our partners and managers are qualified, certified accountants and members of IEKA with practicing certificates to perform statutory audits.
An audit provides credibility to your business, enhancing confidence and trust as well as reinforcing the attributes of integrity and reliability of the business’s management team. Our performance is continuously assessed by the local supervisory authorities including the Public Oversight Board of Albania and the Institute of Authorized Chartered Accountants of Albania (IEKA).
Our Audit & Assurance services comprise of statutory and regulatory audit services, including statutory audits, agreed upon procedures, share capital transactions, information systems review, and other assurance services. We are licensed by the Institute of Authorized Chartered Accountants in Albania (IEKA) to carry out statutory audits of financial statements as and when required by the local legislation or on a voluntary request. The high level of partner and managers involvement in our services results in building relationships, which you can depend on for your audit and business needs.
For companies which do not require a statutory audit in terms of the local legislation and requirements, the decision between a voluntary audit and independent review is an important one with many far-reaching consequences. Our partners are available to discuss the decision with you in detail and provide you with information regarding the costs versus the benefits of each.
We utilize a risk-based audit methodology that requires a thorough understanding of our clients’ organisation, its goals and objectives, key business risks, operations and financial processes. This understanding not only provides the foundation for highly effective assurance services, but also gives us insights which we use to provide our clients further value.
Our Audit & Assurance services include the following:
- Statutory audit (IFRS and National Accounting Standards)
- Review of financial statements/financial information
- Other assurance reports
- Agreed upon procedures
Tax
We provide guidance to multinational and local groups of companies in developing their tax strategies that can maximise tax planning benefits and meet all compliance requirements of local tax legislation. Drawing from experience and expert knowledge we can provide professional assistance to businesses in domestic and international tax planning. Structuring international transactions in a tax efficient manner demands a degree of specialization that requires the expertise of a tax professional advisor. Our team has this knowledge to assist Clients meet their tax planning objectives. Our goal is to deliver comprehensive and practical tax solutions that help businesses meet their local and worldwide tax and statutory responsibilities. Our tax services team should help to achieve cost efficiencies in line with each company’s risk profile.
Financial Reporting & Compliance
We provide a spectrum of services to help you on the routines and responsibilities of running your company, managing the business and its money.
Demonstrated below are our day-to-day service offerings which include bookkeeping services, management accounting, payroll and preparation of statutory financial statements. We can undertake and manage these aspects of the business for you – and more – allowing you time to do what you do best.
We pride ourselves on providing reliable and responsible business-support services and nothing pleases us more than seeing our clients’ businesses succeed. Whatever size and complexity of your business our specialists are here to help.
We provide a spectrum of services to help you on the routines and responsibilities of running your company, managing the business and its money.
Demonstrated below are our day-to-day service offerings which include bookkeeping services, management accounting, payroll and preparation of statutory financial statements. We can undertake and manage these aspects of the business for you – and more – allowing you time to do what you do best.
We pride ourselves on providing reliable and responsible business-support services and nothing pleases us more than seeing our clients’ businesses succeed. Whatever size and complexity of your business our specialists are here to help.
Bookkeeping Services
We undertake the accounting function ensuring that proper accounting records are maintained and regular up-to-date reporting is available to the client. These services include:
- Maintenance of computerised accounting records
- Preparation of bank reconciliations
- Preparation of debtors and creditors reconciliations
- Preparation of budgets and reports monitoring actual performance against budget
- Supervision of accounting departments
Management accounting
We can put a set of figures into perspective. We’ll be able to discuss them with you to determine what the management accounts actually say about the state of your business.
- Development and preparation of monthly, quarterly and yearly management accounts and other management reports
- Development and preparation of monthly, quarterly and yearly consolidated management accounts and other management reports
- Preparation of interim parent’s separate or consolidated financial statements under International Financial Reporting Standards (IFRS)
Payroll
- Calculation of the payroll and preparation of payroll reports covering the following information per employee: gross salary, other benefits and allowances, social insurance contributions, personal tax, net payable amount etc.
- Update the local authorities for any changes in the number and the personal information of the employees i.e. new employees, employees leaving the company etc.
- Preparation of monthly pay slips for each employee
- Preparation of the bank transfer report for the payment of net salaries through the bank
- Preparation and submission of reports to the tax authorities
- Assisting the company in paying the social insurance and other contributions and personal tax to local tax authorities
Legal
Global legal compliance is the basis of a company’s continued success
Our expertise covers all aspects of keeping your day-to-day business running smoothly. We deliver solutions tailored to your corporate structure and which deal with formalities under local national law, meaning you can focus on running your business. Understanding respective national requirements means we can set up a reliable corporate environment for your business. We present integrated solutions for corporate life events that help you achieve your milestones.
Our service expertise:
- Commercial law
- Corporate law
- Employment law
- Litigation and dispute resolution
- Mergers and acquisitions
Business Advisory Services
We help businesses and organisations of all kinds negotiate risk, improve their performances and realise their potential within the unique and dynamic environments in which they do business. Specialists worldwide come together to deliver these services under the following categories:
- Financial Advisory
- Risk Management
- Government and Not-for-profit
1. Financial Advisory
Whether you are looking to make an acquisition, form a strategic alliance, raise or invest capital, perhaps through an initial private offering, or release funds through a sale or restructuring, our advisors can help you minimise the associated risks and maximise the returns.
Our Business Advisory experts can work closely with the business management team in order to identify their current financial situation and design the strategic changes needed for the future.
We offer our expertise and advice in the following areas:
- Valuations
- Transaction Advisory
- Restructuring Services
2. Risk Management
Our Risk Management services include the following:
Internal Audit
Internal Auditing is an objective assurance and consulting activity designed to add value and improve an organization’s operations. It can help an organization accomplish its strategic objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.
The need for a systematic and disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes has never been as great as it is today. Risks left un-managed in an organization can ultimately result in its collapse.
We undertake the outsourcing of your company’s internal audit function. Our team will visit your premises to conduct the internal audit and report to the management and the Board of Directors its findings and its recommendations in order to improve the effectiveness and efficiency of your organization.
Design and implementation of business processes
We can assist your company in designing and formalizing its business processes in order to ensure that adequate controls were put in place that mitigates potential risks.
Evaluation of the business processes
We can review the current processes and procedures of your company, analyze them and give constructive recommendations to make them more effective and efficient.
Risk management
We can assist the management in setting up a risk management function or undertake the outsourcing of risk management function of your organisation. This includes the identification and measurement of risks of your company and recommendations how to mitigate them.
Evaluation of internal audit functions
We can evaluate your existing internal audit function and provide you with recommendations to become more effective. The need for a focused approach to internal audit and risk management has never been as great as it is today. Risks left un-managed in an organisation can ultimately result in its demise.
3. Government and Not-for-profit
oday, vast financial resources are being made available for sustainable development and humanitarian aid by public sector institutions and bilateral aid programmes. We recognise the important role played by the public sector at both a national and an international level.
Improving performance and accountability is important to organisations of all kinds; for international development and finance agencies where financial resources are limited compared to the number of projects requiring funding, this is even more so.
Development agencies are increasingly using beneficiary structures to dispense aid through budget support and sectorial aid. This decentralised management requires service provides to have knowledge and experience of both local market conditions and each donors’ individual requirements and priorities.
We are experienced in working with National Governments and International Institutions and have carried out numerous grant audits and consulting projects. Our strength lies in combining expert knowledge of local business environments and cultures, with global awareness and business know-how.
We have extensive experience advising national public sector institutions and governments on a range of services, including financial, systems and project audits, grant certification, internal audit services, accounting services and general consultancy, and bring this experience to bear in the international arena.