The differences between accounting firms are not to be found in the services they offer, but in their people. In any business the quality of the service depends on the people who provide it. We believe in providing quality advice and service to companies demanding more personal attention, thereby giving value addition. It is from this belief in people that we at Dhody and Associates have developed our philosophy of partner-led service with well trained and experienced support staff.

There is a deliberate policy which:

  • Enables us to provide the service which we believe is the most responsive to the needs of the client ;
  • Ensures the decisions are taken quickly and effectively.
  • Ensure that clients are provided with a consistent quality of service and sound professional advice.

Our practice is built upon a careful balance between responsiveness to the needs of our clients and the highest professional standards of independence, ethics and objectivity.

We are a reasonably large firm which provide personalised professional service and advice of the highest calibre. We accomplish this not only through the technical competence of our partners and professional staff but also by matching specific expertise to the assignment in hand. We attach great importance to working with our clients and their people with a view to helping them to develop their business and profitability.

Through our well-trained staff at offices in different locations we ensure that our clients receive the most responsive service. Our own growth has been based on a solid framework of common philosophies and objectives towards personalised client service.


One of the principal objectives in carrying out an audit is to express an opinion on financial statements prepared by the client. In performing the work required or necessary to reach these opinions, we gain valuable insights into various businesses and are able to provide commentary and constructive feedback to management.

Our audit approach requires us to concentrate our effort on control and key risk areas enabling us to provide a straight forward, cost effective audit.

Effective planning which varies from case to case is essential to the success of each audit.

Our planning processes address the following key issues:

  • Establishing an audit timetable.
  • Selecting and deploying the right staff;
  • Reviewing the existing systems and procedures and ascertaining whether the same are being consistently adhered to.
  • Determining the key risk areas and other issues which are critical and therefore influence the direction of our work ;
  • Regular communication with management;
  • Setting out a programme for the audit field work.
  • Our audit field work reflects the need for a straight forward, cost-effective audit and is based on the following key principles :
  • Placing a degree of reliance on a review of operations based on internal controls, management accounts and existing management information systems ;
  • Focusing audit effort on risk and problem areas identified by our review and by management; reviewing internal audit reports and placing maximum reliance on work carried out by internal audit teams where they are in operation, particularly where no untoward incidents are reported.
  • Normally, we carry out a Transactions audit as part of our interim audit verification, which at end of the year is followed up by a Balance Sheet audit.
One of the most important factors in ensuring that our audit achieves its objectives is effective communication with management, for which purpose we endeavour to:

  • Hold meetings with client/management during the year to discuss changes within or diversification by the company and areas with which they have particular concern ;
  • Discuss the management the findings of our interim audit and the reports of the internal auditors ;
  • Meet with management and those charged with governance during and after our final audit in order to ensure that the accounts prepared by the client are true and fair and all required provisions for business liabilities and taxation are properly made.

We have also performed a number of due diligence reviews and other pre-acquisition procedures, as required by our clients, prior to their completing acquisition or take-overs, or an investment in various entities. In case of manufacturing/trading companies, we have undertaken assignments of physical verification of inventories and have also checked the accuracy of its valuation.

Stock Audit/Viability Report

We are in the panel of nationalised/private sector Bank(s) for the purpose of conducting Stock Audit as well as for conducting viability study of industrial units.

Internal Audit
In addition to the external or statutory audit we provide an internal audit service to clients whose accounts are statutorily audited by other accountancy firms. Through our internal audit checking and reporting we assist such companies in improving their accounting and internal control systems. The implementation of our recommendations often results in cost savings and improved profitability. Very often internal audit also ensures that the installed systems are in operation.

Mergers, Acquisitions and spin-off

Our mergers and acquisitions professionals specialise in producing expert valuations based on the unique parameters of the transaction. Our service goes beyond face value, addressing all relevant factors and looking behind financial information into the strategic issues during the transaction. Our range of services includes:

  • Valuation of the entity.
  • Designing an appropriate mechanism for the transaction, taking into consideration tax, commercial and regulatory issues.
  • Assistance in negotiating the acquisition price, or finalising the scheme for merger or spin-off, as appropriate.
  • Liaison and co-ordination with regulatory authorities, as appropriate.
  • Liaison and co-ordination with the counterparty’s professional advisors.
  • Due diligence and pre-acquisition reviews of acquiree companies.

Taxation services
Having specialised in this area since the inception of the Firm, we have significant, in-depth, grassroots expertise in issues requiring efficient tax planning and structuring, cross-border taxation advisory and representation services. The Firm offers a complete range of integrated corporate and personal taxation services. Some key services are summarised below.

          Tax Planning

  • Tax efficient structuring of entities, including the selection of an appropriate form of organisation and formation of the entity.
  • Restructuring of entities based on requirements arising from changes in share holding and ownership patterns.
  • Planning for diversification and expansion, including timing the acquisition of assets to realise optional tax benefits.
  • Structuring employee compensation packages to maximise employee remuneration within the parameters of the entity’s compensation policies.

          Tax Representation

  • Representation to the Commissioner of Income Tax (Appeals).
  • Appearance before the Income tax Appellate Tribunal.
  • Briefing of, and preparation of documentation for, counsel requiring litigation support.

Project report and financial Consultancy
The firm offers an integrated range of project reports and project consultancy services including that of Agriculture. We assist the promoters in negotiating with the financial Institution and Banks. We have close liaison with many banks and state lending institutions.

Financial Advisory Services
The Firm offers an integrated range of financial advisory services including:

  • Capital structuring, to ensure optimal financial leverage, taking into consideration compliance with regulatory guidelines issued from time to time.
  • Capital funding, designing appropriate routes for funding, quantum and timing of issues, guidance on determining preemie, the institutional appraisal process and presentations to institutional investors.
  • Capital issuance, including assistance in selecting lead managers and co-managers, drafting and review of documents, selecting an advertising agency, assistance with press and broker conferences and other administrative matters.

Recruitment and Human Resources Development
We are in an ideal position to provide a recruitment service to clients for senior personnel. We can provide an initial screening process after having ascertained the client’s precise requirements and short list applications for consideration at a final interview.

We also assist clients in the selection of required personnel in the accountancy, financial and managerial disciplines.

IT Consultancy
We are in a position to arrange for IT consultants to review a company’s computer systems and report on their findings together with recommendations for changes and improvements if necessary. Such consultants can provide advice on computer strategy and selection of hardware and software. They can also supervise the implementation and testing of any changes or new systems and introduce operations manuals. In this respect, the consultants will liase with the audit function, to ensure that sufficient controls are in place in the client’s systems such that auditors are able to place reliance on the computer trial.

Systems Reviews and Manuals
We have staff with experience of reviewing existing controls and accounting systems, who after such review will produce a detailed report on the client’s accounting controls, records, systems and procedures and report thereon with recommendations for changes and improvements where necessary.

We also undertake to prepare accounting and procedural manuals and supervise their introduction.