Internal Audit

Internal Auditing is an objective assurance and consulting activity designed to add value and improve an organisation'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. HLB’s Internal Audit Services offer focused advisory services designed to help clients.

Our group of accredited, dedicated, highly qualified professionals share significant experience and specialised know-how with our clients so as to provide practical and effective solutions to better manage risk with the ultimate aim of enhancing shareholder value.

Internal Audit Advisory Services

The traditional view of the corporate internal audit function is a group whose mission is to be an independent department within the organization to report to management on the adequacy and strength of the internal control structure. This role has changed over time and the scope of internal auditing has evolved to include not only the safeguarding of organizational value, but also include the enhancement of this value. More and more businesses are deciding to outsource ancillary or support functions to outside providers. This allows the organisation to focus on its "core business" functions of addressing competition and increasing its market share. Internal Audit is one area where outsourcing can be successful.

  • Full outsourcing includes the performance of all internal audit activities (including risk assessment, audit planning, performance, communication/ reporting to the Audit Committee, etc.) on a recurring basis. The client may or may not have a Chief Audit Executive or General Auditor.
  • Co-sourcing is the performance of ongoing support of the client's total internal audit efforts. All internal audit activities are directed and managed by the client's Chief Audit Executive or General Auditor.
  • Setting up the internal audit function for organizations who do not have that function yet, and who are pushed to do so because of regulatory requirements or just best practices.

Personal Taxation

The Firm’s tax department assists individuals with any personal taxation issue such as tax planning and compliance, trust planning, investment planning, pension and life insurance, etc.
 

Corporate Taxation

Our tax specialists assist clients with corporate tax compliance in order to meet their statutory obligations such as:

  • Preparation and filing of tax returns
  • Negotiation with the Inland Revenue
  • Appeals against tax assessments raised by the Inland Revenue
  • Payment of temporary/provisional taxes

In addition, our tax department provides tax planning services such as advice on structuring operations, mergers and acquisitions, disposals, listings on Stock Exchange, etc.

VAT and Other Indirect Taxation

Our tax specialists assist clients with VAT compliance obligations and provide services in relation to VAT reviews thus assisting in early identification of problem areas. They also advise clients on international transactions involving VAT. Services in this field include

  • Preparation and filing of tax returns
  • Negotiation with the Inland Revenue
  • Appeals against tax assessments raised by the Inland Revenue
  • Payment of temporary/provisional taxes

In addition, our tax department provides tax planning services such as advice on structuring operations, mergers and acquisitions, disposals, listings on Stock Exchange, etc.