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Audit
In our firm we respond to the demands of our customers. We have modern methodologies and audit techniques operating in the best interests of your organization.
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Statutory Audit
Audit services of the firm have been designed to support you to meet the challenges involved in managing risks, resources and information.
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External Audit
The external audit service aims to express an independent opinion regarding the fairness of the financia!statements of the companies or certain business areas in which we use previously agreed procedures.
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Managerial and Result External Audit
Our work consists of the execution of the defined procedures to review the accounting information and issue reports and documents.
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Taxes
We work with our clients during all their processes to achieve an excellent statutory clase year, in order to optimize the taxes payment and ease the tax burden.
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Transfer Pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public.
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Legal Services
Our legal advice involves professional lawyers, specialized in different fields.
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Diagnosis and implementation of Full and SME IFRS
Servicio de Diagnóstico e implementación de NIIF plenas y NIIF para las PYMES.
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Training and updating in IFRS
Services of Training and updating in IFRS
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Calculation of accounting estimates under IFRS
Services of Calculation of accounting estimates under IFRS
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Valuation of financial instruments
Services of Valuation of financial instruments
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Advice on specialized topics
Services of Advice on specialized topics
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IFRS advice for public sector entities
Services of IFRS advice for public sector entities
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Preparation of financial statements and disclosures
Services of Preparation of financial statements and disclosures
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Sarbanes-Oxley Service Audit (SOX)
Only those who have clearly structured numbers and a good view of their business, can identify weaknesses and opportunities early enough to react on time to events in their environment.
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Audit of Organization
In order to help the service organization and its users to establish a reliable and standard process for the service organization's reports, we offer the following services:
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IT Audit
IT Audit Services help the Organization manage risks and controls related to IT implementation and use to achieve business financial, operational, and regulatory objectives.
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Computer Security
Cybersecurity frames a set of tools, policies, security safeguards, guidelines, risk management methods, actions, training and in summary a series of practices that can be used to protect the organization's assets and users in cyber-environment.
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Performance Tests
Our service focuses on determining the speed at which a task is performed under particular working conditions on a specific information or application system.
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Audit Security Social
As part of Social Security policies and strategies in Colombia, pensions and health are fundamental workers' rights, for which specialized support is required to guarantee access to these rights, in a transparent, equitable and the law.
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BCP Services
We are certified by DRI International as Business Continuity Plans Consultant, CBCP and with training and certification as internal auditor in SGS, ISO 2005: 27001..
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SAP Auditing and Computer Security
We have certified experts in security and auditing SAP in R / 3, CRM, BW. Our approach allows us to perform in SAP
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Corporate Risk Management
This regulatory environment seeks to mitigate the risks and uncertainties of the banking industry, also responding to economic pressures and investor expectations.
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Operational Improvement
Process management, within which operational improvement is framed, can be defined as a way of focusing the work, where the continuous improvement of the activities of an organization is sought through the identification, selection, description, documentation and continuous improvement of the processes. Any activity or sequence of activities that are carried out in the different business units, constitutes a process and as such, must be managed.
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Change Management
Change management is the process, through tools and techniques, to manage the transition to a new reality, trying to make the people involved able and willing to work in the new defined context and achieve the expected results.
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Business Intelligence and Analysis
Business intelligence acts as a strategic factor for an organization, generating a potential competitive advantage, which is none other than providing privileged information to respond to business problems.
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Due diligence
Due Diligence is a term, usually used in the field of business acquisitions, to refer to the process of finding information about an organization.
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Valuations
The valuation of a company is not an exact science and can vary depending on the type of business and the reason.
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Financial accounting
Only those who have clearly structured numbers and a good view of their business, can identify weaknesses and opportunities early enough to react on time to events in their environment.
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Tax and legal compliance
The tax authorities constantly keep entrepreneurs and freelancers on alert, with tax issues taking part as a crucial role in almost all business decisions.
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Payroll
Payroll is one of the most challenging responsibilities that a company faces every year. Our service fulfill the client internal policies, understands the corporate strategic planning and focus on the record of the received newness.
Grounded: how COVID-19 has impacted the aviation industry
13 Sep 2020The COVID-19 pandemic has resulted in lockdowns and travel restrictions in every part of the globe, with a huge impact on the global aviation industry. It is clear that operators, airports, lessors and support businesses need to look at all the options open to them to survive.
COVID-19 has been an unprecedented shock for the global aviation industry, resulting in fleets of idle aircraft, empty airports and a huge and sudden drop in passenger numbers. And the disruption looks set to remain for a significant period of time. According to the International Air Transport Association (IATA), passenger numbers in Europe were down 97% in June as compared to last year. It is forecasted the industry will not return to 2019 levels of activity until 2024. Aviation is in for the long haul when it comes to pandemic-related disruption, but what are the specific challenges that businesses are facing?
Liquidity
Global industry losses could top $84 billion in 2020, as revenues are halved due to a mix of lockdowns, travel restrictions and reluctant passengers. This makes cash flow management a top priority for airlines, lessors and support businesses, but uncertainty is a clear risk. Firstly, many businesses are relying on government support which will not last forever. Secondly, with fears of fresh spikes and second waves growing in Europe, it is not possible to accurately predict when travel restrictions will be lifted.
Operating costs
Up until now, the main strategy for lowering operating costs has been reducing staff levels, either through redundancies or by placing workers on the government’s furlough scheme. But this is only a temporary source of stress-relief and creates further issues later on when operators are looking to scale operations back up, especially when it comes to staff with more specialised skill sets and experience who could be harder to recruit when growth returns.
Debt and restructuring
For airlines, the capital debt accrued through the ownership or leasing of aircraft is a huge part of their fixed costs. A large number of these assets are now going unused, with some operators in Europe carrying out 17% to 38% of scheduled flights in May. In the US, the TSA reported a 96% drop in passenger numbers to the lowest level since 1954, while operators in China reported a 71% year-on-year decrease in flight numbers as early as February. As such, businesses are looking to negotiate payment deferrals with banks and lessors. Lessors themselves often hold between 70% - 80% debt on each of their aircrafts, and many are in serious financial difficulty. While attempting to draw down funds, secure more finance or restructure debts, it is clear joint efforts between all market participants will be necessary for some time.
Operational changes
Another large source of uncertainty is simply what exactly a return to business looks like for the aviation industry. As some airlines begin to take on more activity, there has been a variety of approaches to social distancing. Operating at a lower capacity could just not be feasible as a long-term strategy for smaller operators with shallow cash reserves. Lessors are looking to create more resiliency to market volatility, with some businesses likely to take new approaches to fleet management and pricing.
The aviation industry faces a long road to recovery, and the choices that businesses make over the coming months are extremely important. We can help you assess, protect and restore value to your business.
Get in touch with one of our aviation industry experts in your local area.