TANZANIA: VA Business Assurance Services

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Our member firm in Tanzania announces several developments since the start of 2009

New Clients
During the year ended 31 December 2008, VA Business Assurance Services continue to record growth by wining the following clients:

WEDAC Limited (Auditing)
Universal Africa Logistics Lim ited (Payroll)
Duluti Secondary School (Auditing)
Olasiti Lodge Limited (Auditing)
Tanzanite Jet Centre Limited (Payroll)
TRIAS Belgium (HR Consultancy)
Lutheran Mission Cooperation (Auditing)

New line of business
During the year we introduced payroll services as our third line of business. A payroll service is not a common service in our environment but it is very potential since it assures the firm with regular monthly revenue though in small amount. This new line contributed 6% of our total turnover for 2008.

Capacity building
In order to strengthen payroll service line, the firm recruited Ms Florence Martin, a holder of Bachelor of Commerce in Accounting to head the Tax Section. This Section shall include Payroll Services, Tax Consulting Services and Book keeping bureau. Also Mr Nico Mmari holder of Bachelor of Arts in Accounting is expected to join Auditing section from February 2009. With this two new recruitments and the existing manpower, we can serve the existing clients using only 50% of available man-hours, meaning we have 50% available man-hours for new clients.

Consultancy Services
Effectively from 1 December 2008, VA Business Assurance Services abandoned provision of non- audit and accounting services. Instead, these services will be offered by new incorporated consulting company – Apex Business Consulting Limited a company owned by four shareholders from different profession – Accounting, Economist, Professional Valuer and a Lawyer. This was done purposely to solve independence issues. The new incorporated company offers the following services:

Developing Accounting Policies and Procedures Manual
Property, Plant and Equipment Valuation Services
Human Resources Consulting
Incorporation of companies
Provision of registered office and company secretarial services
Writing funding proposals
Developing Business Strategic Plan
Project Evaluation

		Vincent Augustino (Managing Partner)
Florence Martin (Assistant Tax Consultant cum Auditor)	Salome Godson (Senior Assistant Auditor) and Nicholaus J Mmari (Assistant Auditor)	Hadija J Mollel (Office Management Assistant)

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EGYPT
JOSEPH ABDEL MESSIH & CO

The contact partner of our Egyptian member firm Nabil Joseph Abdel Messih, has been re appointed as Rotary International Fiscal Agent for District 2450 in Egypt until June 2010.

INDIA
R. BUPATHY & CO

This member firm in India, with offices in Chennai, Bangalore and Hyderabad is now PCAOB registered.

KIRTANE & PANDIT

Kirtane & Pandit have conducted an IFRS training Workshop for a group of 20 CFOs from pharmaceutical industries, which covered several subjects including Awareness, Major departures from US GAAP, Understanding important reporting standards and How to implement IFRS.
In addition, three of Kirtane & Pandit’s partners (Ravi Pandit, Suhas Deshpande and Milind Limaye) were invited as speakers for seminars conducted by the Institute of CA of India on IFRS, Corporate Governance and Internal Audit.
Finally, the firm has promoted Mr. Rahul Kshirsagar in its Remote Accounting Services Division and Mr Suhud Lele in the Risk Management Division to partnership.

UAE
AL MAQTARI AUDITING

Al Maqtari Auditing has set up its own website: www.almaqtariauditing.com

It has also has announced several new developments at the beginning of this new year:
The firm has been assigned five arbitration cases by the judiciary authorities in Dubai and Abu Dhabi. This is a significant increase in non audit/ non accounting assignments and a very important aspect of the diversified services Al Maqtari Auditing are providing.
Also, the firm has gained ten new clients in the first two months of 2009.
Finally, Mr Ahmed Maqtari, in his capacity as a member of the Board of Directors of the UAE Accountants and Auditors Association and Chairman of the expert Witness/Forensic Accountants Committee met with the UAE’s Minister of Justice in February and discussed various aspects relating to the contributions and services that professional accountants are providing to judicial system. The meeting gained good coverage in the national press.

JUST & FAIR CONSULTANTS

This member firm in the UAE has opened a new office in the city if Sharjah.
The contact details are:
Suite 103, Bank Saderat Iran Building,
P.O. Box 4798, Bank Street, Rolla,
Sharjah, U.A.E.
Tel.: +971-6-5696130
Fax: +971-6-5696140
e-mail: info@jfcintl.com

The partner in charge of this office is Mr Biji Alappat and the international contact partner remains Mago J.B. Singh.This firm is also in the process of starting an office in the Free Zone in Ras Al Khaima, which they expect will be operational from March 2009.