We conducted the audits of books of account and financial statements of various types of organizations in accordance with the statutory requirements and generally accepted auditing practices, International Auditing Standards to check the true and fairness or otherwise of the financial statements or to report on any other aspect as specified by the scope of the assignment. The scope of audits conducted by us includes a review of the accounting systems and internal control procedures in force. Upon completion of the audit an audit or review report is normally accompanied with a management report (long form) wherein comprehensive details of the findings during the audit process and weaknesses in the systems are pointed out, recommending at the same time appropriate methods for overcoming such weaknesses, thus enabling the management to improve the accounting systems and internal checks and controls.

• Staturory audit
• Special audits
• Propriety audit
• Management audit
• Internal audit
• Cost audits under the Companies (Audit of Cost Accounts) Rules, 1998
Other audits like
• Share transfer audit
• Audit of Provident and Gratuity funds
• Audits of Workers’ Profit Participation Funds
• Audit of Charitable and Welfare Organizations and N.G.O.s
• Departmental audits

Our clientele falls under the following industries:

The firm has been providing professional services to a large number of public and private sector clients, principally engage in the following business:

• Automobile and Allied Products.
• Cement
• Construction
• Educational Institution
• Engineering
• Financial Services Sector and Brokerage Houses
• Food and Bewerages
• Hospital
• Leather and Tanning
• Sugar
• Synthetic and Rayon
• Textile and Garments
• Trust and NGOs
• Carpet Industries
• Others

Newly formed companies or companies temporarily based in Pakistan (e.g. Foreign Organizations temporarily based in Pakistan to perform a contract), or small business houses often find it expensive and administratively difficult to employ and maintain accounts department. Sometimes fairly large companies do not want to have a big accounts department due to the impact of various labour legislation and labour related problems.

• Setting up of accounting system, both manual and computerized, including designing of prime documents required to be used in the process of rendering of business transactions.
• Study and evaluation of the existing system, suggesting improvement and additional contracts to further strengthen the controls that minimizing the risk of errors or irregularities to originate within the system.
• Outsourcing of accounting services to foreign and local clients.
• Preparation of accounting and procedural manual.
• Preparation of periodical and annual financial statements in accordance with International Financial Reporting Standards (IFRS).

Taxation services rendered by the firm cover all aspects of income tax . These services include:

• Conduct audit of taxpayer on behalf of Federal Board of Revenue (FBR) in accordance with the scope of work determine by FBR.
• Advising on the implications of the tax laws mentioned above.
• Preparation and filing of income tax returns.
• Appearing before various tax authorities on behalf of the clients and handling their tax matters/cases.
• Obtaining confirmations, clarifications, concessions, permissions and approvals from various tax authorities including the Federal Board of Revenue.
• Obtaining "No Objection Certificates" from income tax department for expatriates on their departure from Pakistan.
• Any other matter relating to income tax.

The following services are rendered in respect of Sales Tax Act 1990 and Sindh Sales Tax on services Act 2011:

• Registration / De-registration.
• Preparing and filing of sale tax returns:
• Monthly returns.
• Turnover tax returns.
• Special returns.
• Annual sales tax returns.
• Preparing and filing of response to any show cause notice, for clients, and handling subsequent proceedings including in person representation.
• Maintaining book keeping records as required under the Sales Tax Act, 1990 and Sindh Sales Tax on Services Act 2011.
• Verification of refund /carry forward of claims from sales tax department.
• Preparing and filing applications for settlement of cases by the Indirect Taxes Settlement Commission for settlement of client cases, involving in personal appearances.
• Processing and filing of Appeals before Sales Tax Tribunal, or as the case may be, reference to High Court and Supreme Court through competent associate lawyers.
• Up-dating day-to-day changes and procedures in the law.
• Pre-audit of sales tax records along with assistance during the audit.
• Any other matter relating to Sales Tax Law.

The services include:

• Preparation and updating the record required to be maintained.
• Preparation of application for and obtention of the license for excisable goods and services under the Central Excise Act, 1944 and timely renewals thereof.
• Processing the cases for obtaining exemptions from Central Excise Duty and submitting the same to the Federal Government through the Central Board of Revenue.
• Ensuring proper handling of C.E item and H.S Code numbers in order to legally minimize the incidence of Excise Duty, including drawback of duty.
• Attending to Show-Cause notices, if any, preparing legally suitable replies thereto and including pursuing the hearing and other proceedings.
• Preparing appeals to the Collector (Appeals), Appellate Tribunals together handling with of proceedings including Revision Petitions to the Federal Government.
• Ensuring rectification of mistakes, if any, in the orders of the tax authorities.
• Processing cases for settlement with Indirect Taxes Settlement Commission, etc.

The firm provides its services to the client including the following corporate matters:

• Formation and incorporation of Private and public limited companies which includes:
• Preparation of memorandum and articles of association and registration of the company under the Companies Act 2017.
• Evaluation of the requirement of the total paid up capital and authorized capital.
• Preparation and publication of prospectus for public issue and assisting the client in raising their corporate funds by public flotation or otherwise.
• Allotment of shares and issue of shares certificates.
• Assisting the client in holding of Statutory Meeting and preparation of requisite return and filing thereof with the competent corporate authority.
• Obtention for commencement of business in case of public limited companies, etc.
• Assisting the clients in complying with various corporate requirements and legislations including listing on stock exchanges of the company’s shares.
• Obtaining approval for opening of branches of foreign companies in Pakistan.
• Dealing on behalf of the companies / clients with the Securities and Exchange Commission of Pakistan, registrar of Companies and Moradabad and Competition Commission of Pakistan as well as the Central Board of Revenue.
• Attending on behalf of the corporate clients to various Financial Institutions and Banks for fulfilling their requirements for making financial arrangements.
• In addition to the above, Tanzeem & Co. provides Secretarial Services for completing and maintaining Statutory Books, making various returns and Directors’ Reports and generally acting as Company’s Secretarial function.

A wide range of Financial Consultancy services is also provided by the firm. These include:

• Project appraisals and preparing feasibility reports together with financial forecast.
• Pre-Investment reviews.
• Evaluation of assets and liabilities including valuation of shares, inventories and goodwill.
• Assisting the clients to decide upon the best possible combination of financial arrangements which includes institutional loans, supplier credit, foreign collaboration, bridge financing and participation term certificates / term finance certificates.
• Assisting the clients in obtaining various types of assets, like plant and machinery, office equipment, furniture and motor vehicles etc., on lease from leasing companies.

These services include:

• Designing or improving and implementing sound costing systems.
• Designing of budgetary control systems and preparation of periodical cost / management accounts and reports.
• Preparing or improving Management Information Systems and Reports and implementing the same under our supervision for a specified period.
• Preparing manuals of standard operating procedures.

We offer variety of professional services with respect to the processing of financial information by computer.

These services include the following:

• Study and review of the existing accounting information system, if any.
• Development and implementation of computer software in accordance with the need and requirements of the client business.
• Providing necessary training to staff to understand, operate and manage processing of financial information.
• Designing and use of various source documents required for use and control of financial data.
• Providing complete outsourcing of computerized accounting services to the clients who do not want to or not in a position to introduce computer for processing financial information within their entity.

These services include:

• Executives’ search as per the requirements.
• Recruiting staff and offering their services to client on secondment/contractual basis.

These services include:

• Specific- purpose investigation and due diligence assignments for business affairs of the clients, or for the business / project to be acquired by the clients.
• Performing assigned investigations of fraud, forgeries. and/or over/under-invoicing etc, resulting into a comprehensive report, detailing the work performed for arriving at the conclusion along with documentary and or circumstantial evidence, to be communicated to the client or regulatory authorities, as the case maybe.

The firm provides independent professional services that improve the quality of information or its context for decision making of the clients

These services include:

• Rendering accounting services such as collecting, classifying and summarising financial information for the compilation of financial statements.
• Attestation services designed to express affirmation on the correctness or otherwise of the financial information included in a document shared by the client.

We provide services to our clients and others in interpretations and implementing IFRS whether listed or unlisted entities.