Somers Murphy & Earl audit, assurance and compliance services add value to our client businesses. Our team’s experience, built up over many years ensures our clients always adhere to current best practice.
Our team has experience of working with individuals, partnerships, SMEs and large corporate bodies. We are able to use our experience and knowledge across multiple sectors from technology to construction, hospitality, professional services and general trading, providing a high quality, efficient service in the following service areas.
No two businesses are the same. Our audit personnel are experienced in working with clients at all stages of development. A key aspect of any audit is that we take time to get to know our clients business, its challenges and opportunities.
Our audit teams are director led and each audit is conducted in an open and transparent way with client involvement at each stage of the process. Our audit approach is divided into several discreet steps, from planning, fieldwork, testing of key controls and substantiation as appropriate. We end the audit process by issuing our audit opinion.
All statutory audits are carried out in accordance with International Standards on Auditing (ISA’s) and are subject to not only internal review but also external review by our regulator, which is the Professional Standards department of The Institute of Chartered Accountants in Ireland. By adopting this approach, clients are assured that all work is carried out in accordance with current best practice.
Companies must submit documents to the Companies Registration Office at all stages of their corporate journey. From formation documentation, annual returns and event specific filings, such as those related to mergers and acquisitions, corporate reconstruction and tax based reorganisation.
Our team is well versed in this area and we are well positioned to advise, prepare and submit relevant filings, depending on the specifics of each case.
Taxation is an increasingly complex area and one in which businesses need to be alert to and manage carefully. In our increasingly globalised world businesses need to understand the environment which they operate in and the opportunities/pitfalls that this presents.
We work with our clients, both individuals and corporates to ensure that they meet their obligations relating to tax returns and relevant payment dates. If during any tax compliance work we identify tax planning opportunities we will bring them to the attention of our clients.
Related tax based services include research and development tax credits, tax based grants, personal tax planning, long term planning to reduce capital taxation and efficient remuneration for key executives.
Many businesses over their lifetime experience some form of financial or operational distress, whether that is declining sales, reduced margins, increased overheads or greater competition.
If your ﬁrm is in difficulty, we will try to develop an achievable financial plan that will allow your business to continue to operate successfully into the future. If this is not possible, however, we will work with you to transition the business through to a formal insolvency process, giving you guidance and a helping hand whenever it is needed.
Our corporate recovery and insolvency services include:
A number of our earlier and indeed later stage clients just want to get on with making a success of their business and don’t wish to operate a finance department.
This is where our expertise can be of particular benefit. We can remove this activity from the business and produce regular client specific management information for each client utilising a variety of business software. Payroll services are an integral part of this service.
Operating at a senior management level within an organisation can be a lonely place. Very often it is difficult for a CEO or CFO to turn to another individual in an organisation for assistance. Over the last number of years we have worked with a wide group of individuals who meet up with our directors for a “chat”.
We can bring to bear our industry, technical and operational expertise for the benefit of CEO’s and CFO’s alike.
Recent assignments include
1. Acting as an interim CFO of a listed technology company to assist them through a year end audit, preparation of market announcements and accompanying the Group CEO on an investor road show post release of year end numbers.
2. Upskilling a financial controller of a long established company into a more strategically focused CFO.
Many of our clients are acquisitive by nature and actively seek out target companies. Crucial to a successful acquisition is that proper and insightful due diligence is carried out on potential targets. Our experience in this area has allowed us to identify the key risk areas in due diligence thus providing our clients with focused information to allow them to determine whether to complete a proposed transaction.
Our management consultancy capabilities are wide and varied but are built off previous experience. These projects vary by nature and duration but recent ones include as an example the following: