General Questions
Q1: What services does Oyitiola Friday & Co offer?
We offer a range of financial and business consultancy services, including:
- Audits (Statutory, Internal, and Compliance)
- Business Advisory
- Accountancy Support Services
- Taxation and Regulatory Compliance
- Financial Due Diligence
Q2: Who can benefit from your services?
Our services are tailored for:
- Startups seeking financial clarity and growth strategies.
- Small and Medium Enterprises (SMEs) requiring audits or accountancy support.
- Large corporations in need of financial due diligence and strategic planning.
- Individuals and organizations looking for tax optimization.
Audit Services
Q3: What is the purpose of a statutory audit?
A statutory audit ensures your financial statements comply with International Financial Reporting Standards (IFRS) and regulatory requirements like the Companies and Allied Matters Act (CAMA) 2020. It provides stakeholders with confidence in the accuracy and transparency of your financial reports.
Q4: How long does an audit typically take?
The duration of an audit depends on the size and complexity of your business. Typically, it ranges from 2 to 6 weeks. We ensure the process is thorough yet efficient to minimize disruptions.
Advisory Services
Q5: How can your advisory services help my business?
Our advisory services focus on helping businesses optimize operations, scale efficiently, and achieve sustainable growth. Whether it’s strategic planning, market expansion, or financial management, our experts provide tailored solutions to meet your goals.
Q6: Do you assist with business diagnostics?
Yes, we perform a total business diagnosis to identify inefficiencies and growth opportunities. This comprehensive review enables us to recommend actionable strategies to improve your overall performance.
Accountancy Services
Q7: Can you assist with preparing accounts if my records are incomplete?
Yes, we specialize in preparing accounts even with incomplete records. Our proprietary accounting software helps us organize and prepare accurate financial statements tailored to your business needs.
Q8: Do you provide outsourced accounting services?
Yes, we offer outsourced staffing for your accounts department. This includes bookkeeping, financial reporting, and oversight services for a pre-defined period.
Taxation Services
Q9: How can you help with tax compliance?
We help you navigate complex tax regulations to ensure compliance while minimizing tax burdens. Our goal is to unlock value for your business and enhance your overall financial performance.
Q10: What industries do you serve for tax consultancy?
We work with a diverse range of industries, including manufacturing, retail, financial services, technology, and more. Our extensive experience ensures tailored solutions for your specific industry needs.
Financial Due Diligence
Q11: What is financial due diligence, and why is it important?
Financial due diligence involves analyzing a company’s financial records to provide assurance for mergers, acquisitions, or major investments. It helps you make informed decisions and mitigate risks.
Q12: How detailed is your due diligence process?
Our process includes a thorough review of financial statements, cash flow, liabilities, and other critical metrics to give you a clear picture of the target company’s financial health.
Engagement Process
Q13: How do I get started with Oyitiola Friday & Co?
Getting started is simple:
- Contact us via phone or email to schedule an initial consultation.
- Share your specific needs or challenges.
- We’ll propose a tailored solution and begin the engagement process.
Q14: What are your consultation fees?
Our fees vary depending on the scope and complexity of the service. Contact us for a customized quote based on your specific requirements.
Q15: Do you offer ongoing support after completing a project?
Yes, we provide continuous support to ensure the implementation of our recommendations and address any future needs.