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   Indian based accounting solution company, E-trends Technologies India has  signed a partnership deal with PML  advisory limited to provide solution to the  mounting challenges  of managing , controlling and reporting internal  audit  system that are confronting emerging and ... Read More
    A financial plan is a forecast of future performance for a business, usually prepared using spreadsheet software. Small businesses can benefit greatly from taking the time to do a financial plan at least annually. The plan helps a small ... Read More
  An important in the internal auditor's toolbox, risk-based auditing effectively serves the three primary roles of internal auditing — to provide feedback on the adequacy of internal control, to provide a source of information for monitoring risk, and to provide identification and communication ... Read More
  The world has learned the hard way over the past year that most companies have done a bad job of managing risk. And not only banks and investment firms. Accenture’s Global Risk Management Study  found that executives at business enterprises across a wide range of industries believe overwhelmingly that they ... Read More
  External Auditors: An Ally or Opponent? Unfortunately, the finance departments of many companies mistakenly believe that having an external audit annually is part of their internal control structure they can rely on to ensure their financial statements are accurate and their internal controls are sound.   While the objective of an external audit ... Read More
Professional financial advisors have years of training, tools, and experience working with many different clients and situations. Because of their broad experience, professional advisors can quickly assess your needs and offer advice that reflects the best practices of the financial industry and is appropriate for your particular needs. In addition, and ... Read More
The Financial Reporting Council of Nigeria (FRCN) has said the convergence to the International Financial Reporting Standards (IFRS) by Nigeria will promote corporate governance in the country. This, according to the Council, will also enhance foreign direct investments and national economic growth. Chairman, Governing Board of the FRCN, Mrs. Maryam Ladi Ibrahim ... Read More
In 2002, the President of United States passed into law the Sarbanes-Oxley Act of 2002 addressing corporate accountability. A response to the financial scandals that undermined citizens’ confidence in U.S. business and perhaps most important, though, it puts the accounting industry under tightened federal oversight. It creates a regulatory board—with ... Read More
https://www.youtube.com/watch?v=Cb8TGKaEf8o Associate Director, Adeola Adesanya Opens the IFRS Jamboree 2014 event with an insight into IFRS In Nigeria.
PML an advisory services provider with seasoned and experienced professionals with years of hands-on engagements in financial advisory, auditing, risk management & accounting services, held a one day IFRS jamboree for professionals in accounting, auditing and finance industry on Wednesday 22nd October 2014 at the LCCI conference center Alausa ... Read More

PML ADVISORY PARTNERS WITH E-TRENDS TECHNOLOGY INDIA

It has been 6 months of demanding work for most Auditors and Accountants. Most Companies in Nigeria are 31 December financial year-end. Some companies are 31 December due to:

For those that are mandated to have their financial year-end as 31 December, it is understandable but why do you choose 31 December when it is not mandatory for your company.

With 31 December being year-end for most companies in Nigeria, auditors and accountants work very hard to meet up with the reporting deadline. What you experience, is that Clients with fat cheques get the attention of the Auditors, and most time, they meet the reporting deadline earlier compare with smaller companies.

It is also a common occurrence to experience regulatory filing difficulties on the last day of filing of 30 June for 31 December year-end client. The heavy internet traffic on the Tax Authority website crashes the website on such date and usually difficult to file returns.

Instead of selecting 31 December as your financial year-end, you can also align your year-end with your business cycle. A school can choose 30 September year-end as it aligns with the Student Academic calendar.

Our suggestion is always if you are not mandated to be a 31 December year-end client, please choose another month for your financial year-end. You will receive better service and attention from your auditors and tax authority because work pressure will be less. March, June, or September is a good alternative financial year-end to choose.

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