Accounting Support of Public Sector

/Accounting Support of Public Sector
ORTHOLOGISMOS SA provides accounting and tax consultancy services to:
  • Public Healthcare Units
  • Local Government Authorities
  • Bodies governed by public law
  • Community Service Organizations
  • Municipal Enterprises for Water Supply and Sewerage

Accounting and Tax Services

  • Configuring financial services software when it is first installed
  • Inventory (Recording and Valuation) of movable and immovable assets
  • Drafting the opening balance sheet
  • Double-entry accounting (general and analytical accounting ledgers) with parallel records in line with public accounting requirements
  • Implementation of Cost Accounting
  • Drafting annual financial statements in line with the relevant Presidential Decrees
  • Drafting financial statements in line with the International Financial Reporting Standards (IFRS)
  • Drafting monthly and annual tax declaration forms
  • Drafting of Statistical Bulletins
  • Evaluation of existing financial information systems
  • Consulting services for the analysis of needs in the computerization of financial services
  • Support for redesigning financial documents and audit reports
  • Training staff on double-entry accounting
  • Evaluation of existing financial information systems

Payroll

  • Customization for the first installation of Computerized Payroll Applications
  • Undertaking the entire payroll function
  • Support on labor and social security issues
  • Ensuring monthly payment of social insurances contributions and other deductions

Internal Audit

  • Review and evaluation of the system of internal control in place
  • Identify areas where systems can be improved
  • Reports on any weaknesses in the area of internal controls and the prevention and detection of fraud.
  • Constructive advice and recommendations on internal control systems and operational environment
  • Conducting a thorough and constructive audit
  • Responsible assessment of a company’s financial position and performance
  • Internal control reviews

Budgeting & Reporting

  • Drafting and Monitoring of Budget
  • Variance analysis comparing and evaluating actual results against budgeted results
  • Preparation of cash flow forecasts and projections
  • Drafting Feasibility Studies