Transfer Pricing
With globalization of business and cross border transactions increasing day by day, tax reforms have taken place. If the taxation matters are not handled in an effective manner, that can toll the continuous working of any international organization. Today, India has a double taxation avoidance agreement with a number of countries. Many a countries have established their offices in India. For cross border transactions between the associated companies, there needs to have a clear legislation about arm’s length price, which is called transfer pricing. Now what’s Arms’ Length Price – when two or more enterprises which are associated and get into transactions of profit, service or facility, then there is a need of some solid base of costing to exist. Such a price of services or facility should be as will not impact tax revenue etc. of the country. Thus Transfer Pricing, which is an international compliance with individual country norms, is of high importance. But being very technical in nature, a person with professional and specialized skills only can analyze Transfer Pricing legislations.
Day and on Government is making Transfer Pricing laws more and more complicated and litigation pro. In this scenario you always need an expert and professional help.
We help you by preparing Transfer Pricing Study and Transfer Pricing Audit Report. Our expert team on this will do all fact finding exercise with the help of software and provide you with hassle free end reports.
NGO Services
We accustom the tailor made services for Non-Government Organisations. Our NGO clients are serviced all over India. We provide end-to end solutions for the NGOs/ societies like registration/licensing, compliances and funding etc.
We offer following services to our clients:
- Advising on suitable form of organization for NGO workings etc
- Assistance in Registration of society/trust or section 8 company
- Liaison about procurement of grants/Donations/Funds.
- Helping in obtaining FCRA Registration and other compliances
- Advising on income tax
- Other registration like 80G/12AA of Income Tax Act.
- Accounts Outsourcing Services
- Internal Audit services
- Registration of Society, Section 25 Company, Formation of Trust.
- Statutory Audit Service
SPAC Transaction
Whenever investor wants to start a business but has a sort of no-time to register a company, we are there to help out with a ready-for-business shelf company. These companies have due legal existence with nil operations and thus can be used to kick start the business with minimal or as required changes. Mostly they are known as Special Purpose Acquisition Company or SPACs. These companies have pooled funds to participate in takeovers.
We assist you in following areas:
- Quick business start
- Getting Approvals from regulatory bodies
- Projection work
- Financial Due Diligence
- Legal Due Diligence
- Financing and structure option advice
- Tax Planning
Risk Management Consultancy
Risk will always go hand in hand with the business or entrepreneur. In modern ages, risk of many types has evolved. Different organizations have different kinds of risks. A few types are financial, technical, social, internal or external. Form of organization can even contribute to the risk exposure.
With these ever emerging risks, there is always a chance of loss to the organizations. Hence to control the loss arising out of these assessed/ under assessed risks, there is need of risk management. With uncontrolled and unmanaged risks, entities can lose value for their shareholders and the important resources to further endanger reputational status of the entity.
Our services:
There is no fixed form or frequency of risks coming in the way of any organization; each one has its own. Given each organization workings are coordinated in optimum way; it can help a lot in reducing the risk exposure. We help you to improve your risk management infrastructure and capabilities by providing:
- Analysis of existing / proposed risks by carefully watching each minute manual involvement and Review of such risk management.
- Writing a risk management program
- Implementation of Risk Management Program
Why should we go for such review of Risk Management?
Below situations can be signs of low risk management profile and if following situations are before us, it can indicate that it is high time we should decide at least review of risk management:
- Uninsured risks
- Absence of a team of risk management or at least a full time manager
- Unawareness of significant and possible risks
- A considerable time lag between risk identification
- Unawareness of risk quantification and treatment thereof.
- Unawareness of applicable compliance.
- Change in routine affairs like change in Key persons or change in location of the entity
Business Process Reengineering
At Walia Walia & Associates, we believe in time and motion theory as we see many a benefits arising from time management.
Business process reengineering (BPR) is the analysis and redesign of workflows within and between enterprises in order to optimize end-to-end processes and automate non-value-added tasks.
The concept of BPR was first introduced in the late Michael Hammer’s 1990 Harvard Business Review article and received increased attention a few years later, when Hammer and James Champy published their best-selling book, Reengineering the Corporation. The authors promoted the idea that sometimes-radical redesign and reorganization of an enterprise is necessary to lower costs and increase quality of service and that information technology is the key enabler for that radical change.
We give our best to provide controls optimization and business process enhancement achieve reliable results and continuous optimization of their operations by. Basically Business Process Reengineering is breaking down the business process into group of small activities and tries to restructure the whole process in such a fashion that ends in maximum results for the organization as a whole.
Below are some of the major principles of the Business Process Reengineering we believe and work with:
- Organize around outcomes, not tasks.
- Identify all the processes in an organization and prioritize them in order of redesign urgency.
- Integrate information processing work into the real work that produces the information.
- Treat geographically dispersed resources as though they were centralized.
- Link parallel activities in the work flow instead of just integrating their results.
- Put the decision point where the work is performed, and build control into the process.
- Capture information once and at the source.
By business Process Enhancement, one can attain the benefits like cost reduction, HR optimization, Quick turnover etc.
Corporate Governance
Corporate governance refers to the set of systems, principles and processes by which a company is governed. They provide the guidelines as to how the company can be directed or controlled such that it can fulfill its goals and objectives in a manner that adds to the value of the company and is also beneficial for all stakeholders in the long term. Stakeholders in this case would include everyone ranging from the board of directors, management, shareholders to customers, employees and society. The management of the company hence assumes the role of a trustee for all the others. Scrutiny is important issue when looking at corporate governance concerns and vital issues belonging to it. Corporate Governance is ruled first with organizational values and principles, then Governance Principles and structure & reporting. Having a clean image on the corporate governance front could also make it easier for companies to source capital at more reasonable costs. Unfortunately, corporate governance often becomes the centre of discussion only after the exposure of a large scam.
First thing is to judge that organization has a proper culture of corporate governance in place. We have expertise that helps by conducting assessments about corporate governance and by providing design and implementation services. We strive to help you in developing policies and procedures, monitoring structures and educate and review programs to support proper corporate governance.
Management Audit
The concept of management audit is a new concept. Especially where business is comparatively smaller one, management audit become important in order to explore those mistakes that could have landed the organization into a shut down situation.
Management Audit offers assessment of controls and their effectiveness and relation with existing manner of work. It can be said that they are a vital part of Internal Audit. Management Audit is fruitful in way that these are methods of evaluation within the company and can resuly in bringing the required change.
For checking or auditing any work activity, there are three types of methods associated in this.
Inspection
Inspection is an apparent checking, mostly comparing results with certain given characteristics. These characteristics are usually form, fit and function etc. and after the process, the output is either having those characteristics or it doesn’t. It can not judge on the cause-effect relation but just a black or white answer.
Compliance Auditing
This deals with checking work in deep, comparing results with pre written manuals. It verifies activities performed and activities required. Compliance Audit mostly results in assurance and quality enhancement of procedural works. We undertake registration audits, new vendor regulatory audits etc. for our clients where they need it before entering into big contracts.
Management Auditing
It is a systematic examination of decisions and actions of the management and to analyse the performance. It reviews managerial aspects like organizational objective, policies, procedures, structure, control and system in order to check the efficiency or performance of the management over the activities of the Company. Management Audit stresses on results, evaluates the effectiveness and suitability of controls and challenges underlying rules, procedures and methods.
It assesses methods and policies of an organization’s management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement.
Management Audits do not check or appraise individual employee performance, they critically evaluate the senior executives as a management team.
Fraud Detection & Prevention
Frauds are unavoidable risks and the measure at which the firms are exposed to it can decide the steps to plug those risks. Be the organization a big one or one at a small level, fidelity issues can exist and become parasitic. Before such frauds charge your organization big, one must take an advance step for prevention.
We provide you with a program that can first calculate such risks and detect the fraud if any already existing. Then the forward steps to plug it for long or may be forever.
It takes a deep analysis and insight of overall functioning, structure etc. to chalk out the possible risks a company is exposed to. After such draft of risks and a good co-operation from client, we can prepare a good anti-fraud program. An anti-fraud program can certainly help an organization identify, remediate and monitor the specific risk factors that set the stage for fraud.