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Ace Group Background                                                                        

Ahmed M.Y. Salyani & Associates was formed in 2004 by CPA Ahmed Salyani, as a sole practitioner. In 2011 he turned it into a partnership and rebranded the Group as Ace. Currently, the partners are CPA Ahmed Salyani ACCA, CFIP and CPA Mohamed Ebrahim MBA (Manchester), ACIFE,CGMA, ACMA, CFIP, FCT,CIFE and Advanced CIFE in Islamic Accounting. In order to offer specialized services to businesses from 1st January 2013 Ace Associates – Certified Public Accountants joined the McMillan Woods Global network and was rebranded as Ace Associates -Certified Public Accountants A Member firm of McMillan Woods Global with the following firms namely:-

  • Ace Associates- Certified Public Accountants – A member firm of McMillan Woods Global
  • Ace Consultants Limited (Bookkeeping, Accountancy , Internal Audit and Risk Consulting Services, Strategic Management advice and Arbitration/Alternative Dispute resolution in Commercial disputes)
  • Ace Taxation Services Limited (Tax Compliance, Advisory and Tax Arbitration/ADR support services),
  • Ace Financial Advisory Limited (Corporate Finance, Business Valuation, Fund Management, Investment Advisory & Arbitration/ADR in Financial disputes support)
  • Ace Secretaries and Registrars  (company secretarial services)
  • Ace Nominees Limited (Confidential nominee services to hold shares and real estates, and provision of nominee directors and pension scheme trustees)

Ace Group Vision and Mission

ACE Group ensures that its clients are provided with the best personal and expertise attention underlying its vision which is:

“To be recognized regionally as a leader in the provision of total quality and personalized solutions embodying excellence, integrity and credibility.”

Our Mission

“To provide seamless consistent services which delight our clients by ensuring that all their Tax, Accounting, Auditing and Business Advisory needs are satisfactorily met under one roof.”

ACE group provides a wide range of services to our clients from a wide variety of local and international businesses and organizations, these include businesses involved in manufacturing, distribution, service providers, general traders, engineering companies, property management real estate developers, hospitality industry entities, like hotels and travel/tour agents, social enterprises, logistics enterprises (Clearing & Forwarding and Transport), retailers  and charitable bodies, representing the complete spectrum of the private sector, development agencies and non-governmental organizations.

ACE Group currently consists of two partners and around 25 professional staff, with offices in Mombasa (H/O) and Nairobi.

Audit & Assurance Services

Ace Associates – Certified Public Accountants

a Member firm of McMillan Woods Global

Our audit approach entails that a systematic approach is designed to add value to our clients’ businesses and produce positive benefits from our procedure, in addition to regulatory compliance.

Our audit assurance service is geared to adapt and comply with the frequent and evolutionary change to meet our clients’ requirements and that of the statutory bodies. Such services also include risk assessment, brand value protection, corporate social responsibility (CSR) but most importantly the overall “reputation” risk of our client organisation’s needs to be assessed and every measures taken to protect its reputation. As such, we place great emphasis on quality control management and exercise integrity at all times. In order to bring efficiency and effectiveness in our audit process, we are currently implementing the use of CCH Audit Automation software.

Our audit assignments, a risk-based approach is often used to ensure our work task is of the highest value to both our clients and that of the third party’s reliance on the final report hence enabling proper judgment and decisions to be made.

:Our Audit Process

  • Understand the clients business, the industry in which they operate considering the external and internal inherent risks
  • Evaluating the clients internal control systems, organizational structure and flow of accounting information
  • Draw-up audit programs which are responsive to the above.
  • We discuss our findings of weaknesses with the client and issue a management letter at the end of each audit.

Corporate Finance and Succession Planning Services

Ace Financial Advisory Limited

We have considerable experience in sales of Small and Medium sized business and management buy-outs and related services. Our personalized service ensures we assist our clients achieve their overall goals.

We advise on a range of fund-raising options for diverse needs of our clients, which are tailor made for them. Our network of contacts will assist our clients in securing the right finance package.

Corporate Finance – Due diligence exercise

No business deal should go ahead without a proper due diligence exercise – a process that checks the target is all it claims to be or what it should be!

 

Our role is to review financial books and records and provide the potential investor or purchaser with critical information, either to confirm representations made or provide feedback to renegotiate the terms and conditions. We deliberately involve ourselves in the whole deal, from beginning to the end. By adopting a vigilant up-front planning approach, it enables us to stay focus on the process and cut down on irrelevant details, unnecessary costs and saving of much invaluable time.

 Corporate Finance – Valuation

The specialist area of business and share valuation can be somewhat complex. The key to an a credible valuation is an overall in-depth knowledge and understanding of recognized “commonsense” techniques and apply these techniques to the subject matter in question. This may be for tax planning purpose or sale of a business. Alternatively, it may be necessary to obtain an independent valuation due to a shareholder grievance or matrimonial dispute. Some of the benefits of an independent valuation are as follows:

  • Avoid uncertainty in dealing with valuation matters;
  • Possible potential high saving of time and money; and
  • An independent third party opinion will add credibility.

 

Arbitration & Alternative Dispute Resolution

We can provide arbitrators when settling financial disputes using Alternative Dispute Resolution methods related to valuation, and other related corporate finance disputes with investors/investee.

Investment Advisory and Fund Management

We intend to apply for an Investment Advisor License and subsequently a Fund Manager license from the Capital Markets Authority in 2016 and a Fund Administrator and Fund Manager License from the Retirement Benefits Authority to enable us administer and manage retirement benefits schemes and funds in an Islamic Sharia Complaint manner. We shall also be providing personal financial planning services using sharia compliant products for individuals, including protection (medical), security (retirement), home finance, investment and tax efficiency built in the strategic plan to provide long term benefits for the individual.

 Corporate Secretarial Services

ACE Secretaries and Registrars 

 

We have specialists who are well placed to advise on all pertinent issues relating to company formation and we can set up any of the following:

  • Off Shelf (Ready made) companies; and/or
  • Tailored to clients’ specific requirements.

We have qualified and experienced company secretarial staff who are well placed to advise on all pertinent issues relating to company formation. We also assist in the formation of all types of legal entities to include assisting in the formation of off-shore companies.

In addition to offering qualified and experienced company secretaries to act for both private and public limited companies, Ace Secretaries and Registrars provides a wide range of corporate advisory services to companies and its directors to ensure continuous compliance to the relevant legal and statutory requirements.

Most importantly, we ensure company secretarial matters are dealt with accurately, professionally and in a timely manner.

Taxation Services

Ace Taxation Services Limited

It has always been said that there are two “things” that no one can avoid i.e. death and taxes!

Tax returns Filing

Every business needs to file tax returns each year.

We ensure that our clients are aware of all pertinent deadlines. Our tax return services covering company, personal, trust and estate schemes remove the inconvenience and risk of filing tax returns incorrectly. What’s more, we remind our clients of pertinent and applicable due dates in each relevant tax year and of potential tax liabilities well ahead of time.

Value Added Tax (VAT) 

The penalties for falling foul of VAT Laws and Regulations are severe. Our tax department offers guidance in unfamiliar areas such as VAT registration, VAT returns filing etc.

We offer a full range of services to cover every situation business entrepreneurs may encounter. We ensure our clients explore all planning opportunities whilst meeting legal obligations.

Income tax

Under the Self-Assessment System regime, individuals and companies are responsible for their own tax returns. As well as ensuring that our clients comply with the tax rules and legislation, we provide our clients with sound planning advice to help them hold on to the rewards of their hard earned money.

Tax planning services

Everyone feels they are paying too much tax, usually because they are paying too much tax! This is often true.

Tax planning is an excellent opportunity to increase the bottom line of a business. In no other area can good advice and planning save so much of our hard-earned money. Because we work so closely with our clients, we identify many opportunities to save money through astute tax planning whilst complying with the tax legislation at all times.

Our services cover all taxes that affect businesses, bearing in mind that tax is a “business” cost. Our goal is to optimise their tax payable. Our partners/directors develop a clear tax planning strategy for all our personal and corporate clients. Our comprehensive tax planning services cover all stages of a company’s. This includes advice on payment of installment tax, withholding tax and balance of tax for each year of income.

We assist in ensuring that our clients pay the optimal amount of tax, while adhering to the tax laws, enabling them to retain the most of their hard earned profits and cash flow.

Stamp duty

This is one area of tax that is easily overlooked and we can assist our clients to avoid any surprises, which are often nasty.

Arbitration and alternative dispute resolution

The Kenya Revenue Authority has indicated it shall be making use of Alternative Dispute Resolution mechanism’s to resolve tax disputes with taxpayers. We are able to provide professional arbitrators well versed in tax to provide support.

Accountancy and Financial Reporting Advisory

 Ace Consultants Limited

 

We tailor our accounting services provided to meet our clients’ requirements as we understand that each client’s requirements are unique. Some of the accounting services we offer are:

Book-keeping

It is vital that businesses have a system of record-keeping that delivers reliable information. We assist our clients to set up books and records relevant to their individual needs. We can offer either a complete off-site service where the book-keeping task is carried out away from the client’s offices or an on-site service provided at regular intervals.

Payroll services

The requirement for payroll services comes in all types and sizes and it may vary in various degree of complexity although one can always agree that since this assignment is a monthly task, the key word is URGENT since clients’ need PAYE, NSSF & NHIP to be paid on time! We have a dedicated team specializing in payroll assignments to provide our clients a timely and flexible service, individually tailored to each client’s requirements.

 

Management accounting

Clients require periodic monthly accounting reports, be it weekly, monthly or quarterly, to make meaningful financial decisions. We can provide this service when called upon.

Annual report and Financial Statements

We can assist with the preparation of IFRS compliant annual reports and financial statements.

Internal Audit, Risk and Governance

 Ace Consultants Limited

We aim to prepare organization’s for the evolving corporate governance, risk management and internal audit regime. To achieve this key objective, we seek to provide a wide variety of customized service solutions on internal audit to include business performance management audits advisory, consulting and corporate training.

We strongly believe that with the ever-changing landscape of the business environment, the “internal audit” function can no longer retain the traditional, transaction-based role. The need to react swiftly in today’s technology-driven, marketplace means an organization must be quick, flexible and receptive to change to enable achievement of its strategic aims and goals.

Internal Audit has the potential to be the most influential value-added services available to the board of directors. It is crucial in identifying opportunities, risks and exposures that can determine success or failure of an organization.

We can help you transform your internal audit department by making it more risk-focused, re-aligning the internal audit effort with the inherent risks that may jeopardize the attainment of the business objectives and corporate mission.

Our role is to provide our clients with a tailored strategic approach to assist our clients to identify and understand specific operational and financial risks; to define the level of calculated risks your organisation is willing to take on; and to identify and focus on the opportunities available to your organisation.

Strategic Management Advisory

 Ace Consultants Limited

This services aims at providing management advise on strategic challenges faced by management of organization’s and includes among others:-

  • Talent recruitment, retention and compensation advice.
  • Review and critique of marketing strategies.
  • Give local market knowledge for foreigners setting up businesses in Kenya.
  • Preparation of strategic business plans

Commercial Arbitration/ADR

Many agreements and contracts provide for an arbitration clause as it is a significantly cheaper option than to litigate. We can provide professional arbitrators and support during arbitration process in commercial disputes with your suppliers, employees, customers and contractors.

Nominee Services

Ace Nominees Limited

We provide a confidential service to hold shares, other equity instruments, real estate or other assets on behalf of discerning clients who wish to maintain confidentiality for whatever reasons in the assets they own or companies they control. This is based on common law principles of trusts. We also provision of professional directors to serve as nominee directors in boards of companies, should such a need be or when a company needs to have non-executive directors as part of their corporate governance requirements or Professional Trustee for Retirement Benefit Schemes.

Our role is to provide our clients with a tailored strategic approach to assist our clients to identify and understand specific operational and financial risks; to define the level of calculated risks your organisation is willing to take on; and to identify and focus on the opportunities available to your organisation.

Strategic Management Advisory

 Ace Consultants Limited

This services aims at providing management advise on strategic challenges faced by management of organization’s and includes among others:-

  • Talent recruitment, retention and compensation advice.
  • Review and critique of marketing strategies.
  • Give local market knowledge for foreigners setting up businesses in Kenya.
  • Preparation of strategic business plans

Commercial Arbitration/ADR

Many agreements and contracts provide for an arbitration clause as it is a significantly cheaper option than to litigate. We can provide professional arbitrators and support during arbitration process in commercial disputes with your suppliers, employees, customers and contractors.

Nominee Services

Ace Nominees Limited

We provide a confidential service to hold shares, other equity instruments, real estate or other assets on behalf of discerning clients who wish to maintain confidentiality for whatever reasons in the assets they own or companies they control. This is based on common law principles of trusts. We also provision of professional directors to serve as nominee directors in boards of companies, should such a need be or when a company needs to have non-executive directors as part of their corporate governance requirements or Professional Trustee for Retirement Benefit Schemes.

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