ELMAGUIRI & ASSOCIES
Membre de RUSSELL BEDFORD, Winner 2019 en tant que Network Of The Year
EL MAGUIRI & ASSOCIES
Member of Russell Bedford International, Winner as Network of the year 2019

Services

Audit & Finance

An audit is a professional review performed by a competent and independent professional that results in the giving of an opinion, in relation to a standard, on the financial statements, internal audit, organisation, process, or any issue of an entity. Therefore, it involves evaluations, investigations, verifications or controls, which are combined under the term audit, due to regulatory or standard requirements. These standards require the auditor to comply with ethical rules. Our audit missions are carried out in strict compliance with the legal framework and professional standards, and can include various aspects, based on your needs.

The legal audit refers to a review of the accounts, which should give a fair view of the financial situation of a company. It is a mission carried out by a statutory auditor, which also makes it possible to anticipate and avoid any risks through the assessment of processes.

A statutory audit is mandatory for all companies, as well as certain SAS and other entities such as associations or certain SARL.

Although its main purpose is to ensure that the annual accounts reflect the economic situation of a company, the statutory audit has a range of goals to meet.

In particular, it should ensure equal treatment between the various shareholders, anticipate the difficulties of companies and allow the certification of the company and/or consolidated accounts.

Our teams carry out their missions in compliance with the fundamental principles of behaviour specified by the code of ethics of the profession of statutory auditor, which are integrity, impartiality, skill, independence, avoidance of conflicts of interest, confraternity and discretion.

Our audit missions are carried out in strict compliance with the legal framework, and professional standards, and can include various aspects, depending on your needs

▪ Statutory audit.
▪ Commissariat for transformation.
▪ Commissariat à la merger.
▪ Contribution commission.
▪ Specific audits.

Social auditing can be seen as a process of observation, analysis and evaluation, which allows the identification of strengths and risks in the management of resources.

The social audit is a kind of audit applied to the company, in particular to the management of human resources, but also an audit of Quality, Health, Safety and Environment in relation to standards and benchmarks, local regulations and fundamental conventions.

There are a range of reasons why social auditing has become an essential practice for the company. A first reason for the growing role of social auditing is the strategic nature of human resources management within the organisation.
Social auditing has also become generalised under the guidance of the Labour Code, which has organised companies' social information around quantitative and qualitative human resources management indicators. The requirement for systematic and strict collection of these indicators has created a culture of social auditing.
Our auditors will support you in the audit mission and in fulfilling the objectives assigned to them:
▪ Review and assess the propriety, suitability and application of operational controls and promote effective auditing at a reasonable cost.
▪ Ensure compliance with established policies, plans and procedures.
▪ Measure the reliability of data used in the organization.
▪ Evaluate the quality of the action in the execution of the assigned responsibility.
▪ Recommend operational improvements.

Previously considered as a constraint that companies passively underwent, taxes are now an essential component in the life of companies that are called upon, more than ever, to handle them on a daily basis. Taxes are a vast and complex issue that requires constant updating and deep integration with the realities of the company and its immediate and future environment. The general finding is that company managers are rarely tax experts, and may therefore voluntarily and/or involuntarily commit offences that may result in significant financial costs and possibly legal penalties. Moroccan taxes have undergone a significant evolution induced by the tax reform of law n°3-83 because of the daily economic mutations that regularly impose changes and adaptations to this practice. 

As a result of these significant changes in the number of laws governing the various taxes in Moroccan tax law, taxpayers are now obliged to follow them rigorously in order to avoid increasingly heavy and costly penalties. In addition, the dismantlement of customs tariffs has led the government to make greater use of tax resources by increasing tax inspections. The potential increase in this control requires companies to take into consideration the tax threat in their decision making. To this end, conditions have become favorable for the development in Morocco of the "tax audit" practice which could perfectly contribute to the control and management of the company's tax situation. Therefore, the tax audit would constitute a preferential way of forecasting, preventing and reducing tax risks on one side, and managing taxation and respecting legality on the other side.

In this context, our auditors will help you carry out a tax audit in order to detect and control the risks faced by the audited company, and propose actions to be taken to correct any weaknesses identified.

The due diligence process is a crucial and important step in the acquisition process. It's most often carried out by the purchaser after the signature of a letter of intent.

The acquisition audit that takes place before signing is a crucial and key step in the acquisition process. It is most often carried out by the purchaser after the signing of a letter of intent.
Therefore, The audit is carried out before the sale is completed, but at a very advanced stage of the negotiations. Our auditors carry out the audit either in the company or on the basis of complete documentation provided by the vendor.

The aim of this audit is manifold:

▪ Confirm the investor's overall understanding of the target,
▪ Identify risks of any kind and blocking points (in accounting, tax, social, financial, legal, budgetary matters),
▪ Provide solutions in order to carry out the operation in the best conditions,
▪ Finalise the deeds of sale of the planned transaction and specify the clauses of the Asset and Liability Guarantee.

In this way, the buyer has a clear view of the company he is considering buying. 

The audit findings may have the effect of :

▪ Withdraw from the project if the risks identified are too important,

▪ Decrease the price of the transaction in view of new information revealed by the audit,

▪ Strengthen specific legal clauses or increase the guarantees requested on a particular aspect of the business.

The aim of the financial assessment of a company is not to identify a unique value of a company. The business assessment expert should set up a range of values by identifying the minimum and maximum values.

Nevertheless, the assessment of a company is a rigorous process based on a formalism that is more or less complex depending on the size of the company, its organisation and of course its sector of activity.

This is why our firm has a team of financial analysts and sector experts who guarantee a perfect knowledge of the assessment methods applied in your sector of activity.

Our company assessment reports, as well as the various factors taken into consideration in our studies, are systematically justified and detailed. In particular, they refer to the latest comparable transactions.

The drawing up of consolidated accounts is a legal obligation for groups of commercial companies exceeding a specific level.

Our vision of consolidated accounts goes beyond this simple regulatory dimension. As it reflects the economic reality of your activities, we view consolidation as a major financial communication tool for your financial partners. By associating a systematic analysis and consulting approach, we provide you with a real strategic lever to improve your performance.

The challenge is to:

▪ Benefit from a global economic vision of your activities and your assets.
▪ Make it easier to manage your group.
▪ Optimise your financial communication with your financial partners.
▪ Contribute to the success of your growth projects.

OUR CONSOLIDATION EXPERTISE
. Drawing up the consolidated annual accounts

We implement a four-step working methodology, the content of which may vary according to your size, your organisation and your specific needs. The process described below can be completed by the drawing up of consolidated intermediate situations (monthly, quarterly, half-yearly), allowing an adapted budgetary follow-up.

  1. Data collection
  2. Data processing
  3. Drawing up the consolidated accounts
  4. Financial reporting, recovery and analysis

 

·  Consolidation assistance and training

We support companies that internalise the drawing up of their consolidated accounts and wish to benefit from technical assistance or consultation. We are also able to train teams in the practice of consolidation, based on the standards in force.

Due to its years of experience and the trust of its clients, EL MAGUIRI & ASSOCIES has developed a recognised and highly knowledge in a specific field, which is IFRS (International financial reporting standards), standards that allow the presentation of accounting data to be standardised at an international level and improve the transparency of financial information of listed companies.

Our chartered accountants and auditors support quoted companies and prestigious companies in specific fields of activity in order to guarantee the reliability of the accounting and financial information produced with regard to the normative obligations set out in the IFRS standards.

Our qualified teams are regularly trained to ensure that they are always up to date with the latest changes in standards or interpretations published by the IFRIC (International Financial Reporting Interpretations Committee). They are able to assist you in drawing up your consolidated accounts and preparing the reference document, and also to advise you on optimising your procedures for recovering and ensuring the reliability of information within your group between the head company and its subsidiaries.

In a changing economic and financial context, marked by uncertainty and intensified competition between an ever smaller number of modern and successful companies, companies are required to find specialised solutions to increasingly difficult and complex decision-making. This has resulted in the emergence of a new financial approach, more focused on advice and services, and a new profession, that of financial engineering, which is also concerned with company directors and the management of their private and professional assets.

For many years, we have been assisting leaders in the engineering sector in monitoring their projects and providing them with the tools they need to make their accounts more reliable or to optimise the management of their development projects. It is specifically the art and the way to combine and organise different disciplines and fields of expertise in order to best meet the expectations of investors, shareholders or partners, companies and their managers.

We will explain to you, in a simple and clear way, the choices available to you, the risks involved and the relevant solutions that we judge appropriate. 

El Maguiri & Associés

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