Advisory
Internal Audit
The traditional internal audit model, developed over 100 years ago, has been transaction-based and cost-driven. Today, internal audit is undergoing significant change in migrating from a reactive, historically focused function to a proactive group that takes a risk-based focus. Leading organizations are looking for the internal audit function to assume a leadership role in assessing and managing their strategic risks, adding value to the organization, and identifying operational improvement opportunities.
The FinSolutions takes a risk-based, integrated audit approach to internal audit services in order to help clients improve performance and operating efficiency. We help organizations in:
- Initial setup of the internal audit function
- Performance and quality review
- Outsourcing and co-sourcing
With a combined experience of more than 15 years in internal audit and risk advisory across different industries, our team is well-positioned to initially set up an internal audit function, evaluate performance and enhance the quality of your organization’s internal audit function.
Virtual CFO
In today’s ever-changing economy, access to real-time information is fundamentally changing the way organizations do business. As a result, business executives are finding it increasingly difficult to manage the growing financial requirements of their organizations. Many of these organizations are not at the level in which they require a full-time CFO, but still want the assurance and quality services a high-end CFO can provide. At the FinSolutions, we recognize these needs and embrace the challenges they represent.
Today’s dynamic business environment, driven in part by digital innovation, is fundamentally changing the role of the CFO. Modern CFO organizations are unlocking incremental value through organizational change, process re-design efficiencies, analytics, and automation. We stand ready to help your company solve your most complex business problems and create technology-enabled solutions that will power your digital evolution.
Our solutions include creating a roadmap with short-term and long-term opportunities that will provide quick wins with a foundation to integrated and build a long-term solution.
Why Virtual CFO?
Access to experienced staff
Save personnel cost
Save administrative efforts
Streamlined finance function
Increase profitability
Effective performance and control
Risk
A company’s future depends on its ability to identify and manage risk. Risk is ever-present and always evolving in today’s world and effective risk management is essential to every business. Our team of experienced risk advisory professionals focuses on collaborating with your organization to identify and effectively mitigate risks. Our goal is to understand not only the risks related to potential loss to the organization but to drive solutions that add value to your organization and advise on opportunities to ensure minimal disruption to your business. We help in:
- Design, implementation, and training of risk management framework
- Design and implementation of optimum internal controls
- Comprehensive, integrated, and proactive approach for fraud prevention
Our team of dedicated Enterprise Risk and Quantitative Advisory professionals are ready to partner with your company to proactively balance risk and opportunity in today’s interconnected and dynamic business landscape.
Strategy
The strategy provides an opportunity for your business to assess its current operations and explore future possibilities. By knowing “what do we want”, the company gets a benchmarking to move forward from. Our advisory services include:
- Preparation of robust and convincing business plan – Conversion of idea into a feasible business proposition. While no one can accurately predict the future but having a sound basis for a decision to enter into a business or not, a road map of what needs to be done and the risks that need to be mitigated along the way is always good.
- Financial Modelling for sound investment decision making – A sound financial model is one that considers various scenarios in order to make better decisions. Whether you are about to enter into a new business or eying expansion, merger/acquisition is the next agenda or a change in an operating model a comprehensive and flexible financial model helps you make the right decision.
- Optimized pricing strategy for positive impact on top and bottom line –In the competitive globalized world in which one operates today, the diversity of products in one offering, rising complexity in operating models and the strategic collaborations which has become the need of an hour, pricing decisions cannot be left to the gut.
Our in-depth experience and knowledge across various industries, strong financial awareness, and the ability to convert the business complexities into a flexible tool are what distinguishes us in this important domain.
Tax
In your business and in your personal life, success creates complexity. Business growth and accumulation of assets create the need for increasingly sophisticated approaches to protecting those assets. Saudi Arabia’s tax landscape is expanding fast and businesses need to stay focused in order to ensure accuracy and efficiency of their tax compliance functions. Our dedicated tax teams are assisting our clients for:
- Zakat
- Income Tax
- Value Added Tax
- Real Estate Transaction Tax
We manage our clients’ tax affairs through our specialty teams. Through years of experience and intensive training, each team member has developed deep competence within their specialty area as well as a broad base of personal and business tax knowledge. Our tax services include:
- Advisory and Tax Exposure Assessment & Mitigation services.
- Compliance services.
We help you to create an efficient tax structure for your business and transactions. Our devotion to collaboration means that each of our clients receives the most insightful and targeted ideas based on that client’s unique situation.
Technical Accounting (IFRS AND GAAPS)
We provide the following services in the area of technical accounting:
- Financial statements preparation under IFRS
- Analysis of the first-time adaption under IFRS 1 and development of adaption project plan
- Preliminary diagnostic / Impact assessment and recommendation
- Compliance review in the context of legal regulations
- Support in implementing the new accounting standards, detailed research on specific issues, and development of accounting policies
- Communication of the impacts of the conversion to IFRS to stakeholders (analysts, regulators, funders, and owners/ shareholders) and understand the impacts of changes on KPIs
- IFRS Training
Our advisors are Chartered Accountants by profession, with a Big 4 accounting background and a track record of providing technical accounting services. When engaging our IFRS advisory team, you should expect the same high-quality reporting that you would receive if you had signed up for services using a big4.
HR
The People Management function contributes significantly towards building a competitive advantage for an organization. It, therefore, becomes essential that all HR processes operate at high-efficiency levels and show continuous improvements. We design and facilitate the implementation of new effective and efficient HR processes and best practices. We will help you build a strong HR function by helping in the following areas:
- Need Assessment, Training, and Capacity Building
- HR Benchmarking
- HR Hiring