Now is a time of unprecedented change for corporate taxpayers in Nigeria as the FIRS intensifies its efforts to ensure compliance amongst companies doing business in the country. At YKC we understand the issues and can help clients optimize their structure and comply with legal requirements.

  • Maintaining an efficient tax compliance process - from historical accounting information to post-submission work.
  • Reducing the time spent on data gathering and analysis.
  • Advice on your approach to tax governance, corporate tax compliance, management of your tax risk and your relationship with FIRS.
  • Support in designing your approach to tax data extraction and analysis.
  • Tax accounting and provision preparation and review.
  • Preparation, review and submission of corporate tax returns.
For your staff PAYE, we help to develop a standard payroll structure, which will minimize the impact of tax on your staff.
  1. UPDATE all records for tax purposes by working with the finance department using existing records and new ones to be provided.
  2. Coordinate and collate documentation required for the computation and filing of all tax liabilities namely, Value Added Tax, PAYE and WHT.
  3. Reconcile all tax remittances from Your Company to all tax offices applicable to your business and work to resolve differences with local tax authorities regarding all tax matters, including PAYE and VAT.
  4. To work with the Finance department to ensure that the Sales or turnover figures are determined timely on a monthly basis in order for the VAT liabilities to be reconciled and approved.
  5. Ensure that going forward, all tax matters are filed and resolved before due dates ie monthly, to avoid penalties and interests from the tax authorities.
  6. Compute, remit and file all outstanding tax remittances for the last year ie January to date. This involves determining the input and output components of the VAT and ensure that the accurate amounts due are remitted timely.
  7. Carry out all incidental tasks & assignments that will help in achieving a smooth tax management and compliance process.

Every organization needs information to make sound and effective decisions to remain relevant in the business world. However, this is only possible if data generated is processed into useful information on a timely basis to generate various performance monitoring reports such as expense, contribution margin and product line profitability reports etc. At YKC, we have a team of highly qualified chartered accountants and other finance professionals, capable of handling all accounting issues and giving advice that will add value to your business. This service will help your organization save the cost of maintaining a large accounting department as well as the cost of the purchase of IT systems and software. We provide a full range of computerized accounting services, book-keeping services for companies who require a proper and complete set of financial statements including: Accounting on monthly, quarterly or yearly basis Group consolidation and preparation of annual report Preparing financial reporting packages for management Bank and other account reconciliation and audit schedules.
Our services are as follows:

  • Book Keeping
  • Book keeping for accounts receivable
  • Book keeping for accounts payable
  • Maintenance of fixed asset register
  • Prepare Bank Reconciliation Statements
  • Providing you the monthly MIS report of the forecasts and actual figures with thorough explanations
  • Financial Accounting & reporting
  • Financial statement preparation for audit purpose
  • Accounting Software Selection and Implementation
  • Customized Management report for your specific needs
  • Preparation of budgets
  • Liaising with Company's Auditors

External Audit

Our audit process is planned with the company’s personnel and our audit team in order to address issues early on. We also perform an in-depth analysis of your organization and its internal controls for the purpose of designing our audit procedure by communicating openly with the clients throughout the year with our specific recommendations. This methodology assists us to perform an efficient and effective audit.

Internal Audit

At YKC, we also offer internal audit co-sourcing, resource enhancement, access to specialized skills or full outsourcing, depending on your requirements. With comprehensive understanding of the objectives and priorities of the organization, we work collaboratively with our clients to provide internal audit services. We offer enterprise-wide risk management systems and services that can improve your business operations by reducing the costs, enhancing revenues and managing changes to your business processes.

Internal Audit and Control System Reviews

Companies, public sector bodies and other organizations need to know that their Accounting systems are working effectively, in order to minimize risks such as possible loss of assets. That’s why many clients appoint YKC for internal control and systems reviews.
We provide independent assurance that the internal systems and controls of the organization are adequate, effective and appropriate to the accounting and financial risks of their organization.

Due Diligence

We offer services to help in investigation of a business or person prior to signing a contract, or an act requiring a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for an acquisition. The theory behind due diligence holds that performing this type of investigation contributes significantly to informed decision making by enhancing the amount and quality of information available to decision makers and by ensuring that this information is systematically used to deliberate in a reflexive manner on the decision at hand and all its costs, benefits, and risks.

Forensic Audit

The investigation is likely to be similar in many ways to an audit of financial information, in that it will include a planning stage, a period when evidence is gathered, a review process, and a report to the client. The purpose of the investigation, in the case of an alleged fraud, would be to discover if a fraud had actually taken place, to identify those involved, to quantify the monetary amount of the fraud (i.e. the financial loss suffered by the client), and to ultimately present findings to the client and potentially to court. YKC help our client through forensic Audit.