Phase 1 (Gap Analysis report):

1. Understand fully all the activities of the Entity (operational/ financial/ compliance)
2. Define the applicable International accounting standards
3. Define the applicable Tax rules and regulations
4. Define the local applicable law and regulations
5. Define the organization structure and the Entity departments
6. Define the current staff responsibilities for all Entity activities
7. Define the current practice
8. Define the weakness
9. Define the effect of the weakness
10. Focus on cash transactions ( paid and received).

Deliverables:

1. SOP (Standard operating procedures) Gap analysis report which will show The current practice, weakness and the effect.

Phase 2 (Develop SOP):

• Develop a plan to close the Gap for best practice
• Determine priorities based on strategy & Best Practices

Deliverables:

Written standard operating procedures

Phase 3 (Implementation of SOP):

Training: Train or re-train everyone as necessary to follow the procedure exactly as per the SOP.

Deliverables:

Training results.

Phase 4 (monitoring the implementation and the effectiveness):

Monitor the implementation of the SOP by the assigned staff, and the effectiveness of the SOP.

Deliverables:

Report on the compliance with the SOP and effectiveness of it. And our recommendations