Auditing

Leverage industry-specialized internal audit for organizational success.

Baker Tilly’s internal audit professionals use a forward-looking, industry-fluent approach to help clients address emerging risks, streamline business processes and strengthen internal controls.

Organizations today operate in fast-paced environments with an increased focus on governance and a constantly evolving risk landscape. Assessing an organization’s top risks and the appropriateness of response is critical. This is where internal audit proves essential.

A high-performing internal audit function can:

• Play a critical role in strengthening an organization’s overall risk management, compliance and control environment
• Identify, prioritize and mitigate existing and emerging risks
• Provide assurance that an organization’s risk management program and risk mitigation strategies are effective, add value and contribute to organizational goals

Liquidation

All businesses face challenges at some stage in their life cycle. Unfortunately some don’t survive because of internal pressures, external events or economic conditions. If your business is in this situation Baker Tilly Bahamas can help.

Our approach is inclusive and, wherever possible, we work towards mutually agreeable solutions that meet the needs of all stakeholders to maximise the return.

There are a number of ways a company can go into liquidation. In most cases the company decides to stop trading and the shareholders appoint a liquidator. Liquidation is the effective end of a company’s life.

Feasibility Study

A Feasibility Study seeks to determine if a business idea/concept or the expansion plans of an existing business are viable and feasible. Feasibility Study tackles the investments required,the expected return, and external influences on the project such as the State laws, competition, technology development and other factors.

A Feasibility Study is a guide that enlightens the decision-maker on potential benefits or anticipated losses of taking up a prospective venture before investing in the same. It attempts to foresee the future as well as anticipate results of a business idea.

Added value to business entities from Feasibility Study Services

• Assist business entities in understanding the level of demand for a product or service and the feasibility of the project as a whole.
• Assess available resources and the marketability of the product or service.
• Identify the appropriate timing for launching the product or service.
• Benefit from proven track record in similar projects.

Services provided by Baker Tilly

Baker Tilly through years of extensive experience specializes in preparing feasibility studies that are tailor-made to meet each client’s requirements.

We at Baker Tilly have the skills and expertise required to prepare comprehensive feasibility studies addressing your needs making use of our access to recent industry reports and the broad database of information that we have built over years of fruitful service.

Baker Tilly has global professional alliances in various sectors including, but not limited to Engineering, Industrial, Real Estate and Healthcare, which are a key pillar to building the business study and financial model.

Through our approach in preparing feasibility studies, we look at prospective ventures from the following perspectives:

• Market Study
• Business Model to be adopted when executing a project
• Technical Study
• Management Study
• Financial Model of the Project and its feasibility
• Financial and Economic impacts of the project

A comprehensive analysis of the above elements will assist the decision maker in concluding the initiation or rejection of the project.

Hence, reports provided are not only practical and logical, but also maintain the highest standard of quality as they are critically examined by different management experts. Reports are also available for critical evaluation from the client and the firm is required to provide the client with answers to all inquiries.

Regulatory Compliance & Registration

Baker Tilly’s regulatory compliance professionals help clients streamline their approach to compliance, address risks, strengthen internal controls and lower long-term compliance costs.

Nearly 70 percent of organizations are subject to five or more regulatory requirements. Intensified government scrutiny and the demand for greater transparency continues to raise this bar, further increasing the risk of noncompliance.

Regulatory guidelines are in place for almost all industries and it’s critical for your organization’s success to adhere to them. We have developed extensive capabilities to assist organizations in complying with federal, state, industry and agency regulations, including helping to identify and implement improvements to policies, procedures, and controls. Organizations count on our regulatory knowledge and extensive compliance capabilities to assist in fulfilling the requirements of complex, industry-specific regulations.

Our Compliance Services covers:

• VAT Registration and Licensing
• Business Licensing
• CESRA
• Property Tax

Due Diligence Support

Whether it is for an acquisition, sale or refinancing, Baker Tilly Bahamas provides due diligence services tailored to meet your specific needs.

Baker Tilly’s due diligence specialists assess the financial and operational performance of an entity in order to validate the buyer’s or creditor’s investment thesis for a particular transaction. We identify transaction risks through analyzing financial performance, synergy opportunities and making determinations about the quality of reported earnings.

The complex and ever-changing landscape for many industries continues to produce significant financial and operational challenges for transactions to take place.

Properly assessing the value of potential acquisitions and investments through due diligence can be imperative to the success of a transaction. Quality of earnings concerns, operations, market trends, culture issues and other areas all require a closer look to assess risks and determine a company’s true value.

Our due diligence specialists have significant experience working with clients to maximize value in a transaction through ensuring a smooth due diligence process. Whether it is for an acquisition, sale or refinancing, we tailor our due diligence services to meet your specific needs.

The purpose of due diligence is to validate the buyer’s or creditor’s investment thesis by verifying the assumptions made when the transaction was negotiated, seeking out issues and opportunities our clients were not aware of, and providing them with data and insight to help formulate a post-transaction plan.

Fraud & Forensic Accounting

Identifying, quantifying, and mitigating the risks, costs, and effects of fraud, abuse, and corruption.

Misappropriation of funds. Misstatement of accounts. Employee dishonesty. Losses arising from Director & Officer misrepresentations. Regardless of the circumstances, the reputational risk associated with fraud can be more impactful than the actual financial loss. Baker Tilly’s highly credentialed forensic investigators help clients uncover issues, determine the root cause, and strengthen internal controls.

Organizations and counsels facing suspected fraud or other financial misconduct need the same thing: a complete understanding of the facts. When companies find themselves in an overt or potentially adversarial situation, Baker Tilly’s Fraud & Forensic Investigations team is the comprehensive partner they turn to for guidance.

Our team of highly skilled forensic accountants and investigators has broad experience reviewing and then triaging allegations of fraud and then developing a thorough work plan. We are supported by forensic technologists who are adept at extracting and examining large amounts of data. Our multidisciplinary team includes former government professionals with significant experience in forensic accounting investigations. Collectively, we integrate information and data from multiple sources to create a picture of what’s transpired.

HR Consultancy Services & Payroll

• Would you like to enroll in The Bahamas National Insurance regime and carry out the employee and employers requirements for your company?
• Would you like further support with your payroll administration and payroll processing?
• Would you like to develop an attractive and competitive salary package tailored to your employees?
• Developing a complete personnel policy when recruiting a first employee?
• Do you want to start a payroll administration as a new employer?
• Do you want a correct legal and social follow-up of your payroll and personnel administration?
• Would you like to have your monthly payroll processing run in an easy and efficient manner?

The ‘war on talent’ with the associated employer branding, the retention of good employees, and the prevention of burnout and illness is currently the first concern of many Companies. Just like the ever-evolving HR regulations and legislation. However, we notice that companies hardly have the time to delve into this matter.

Our services

Every company has its specific HR challenges depending on its size and sector. Whether you are looking for advice on drawing up employment regulations, have questions about the Employment regulatory requirement, or want more information about Payroll.

As an employer, you inevitably have to deal with the monthly payroll administration. You can rely on our HR Experts to run this efficiently and correctly.

As a social service provider, we take care of all payroll tasks within your Company. We support starting employers by drawing up a wage policy that meets all obligations in the tax, social and legal fields. We monitor your payroll administration and advise you on social-legal changes.

We work out a tailor-made HR solution together with you.

Litigation Support

Baker Tilly Bahamas has a team of capable senior professionals with expertise in litigation and dispute resolution services. We are well aware of the benefits that a balanced, well considered opinion can contribute to early resolution of a dispute. We are equally aware of the need for litigants to have an early understanding of key weaknesses in loss assessments.

Our experts receive regular instruction from litigators to provide economic loss assessments and expert opinion on other commercial matters subject to litigation or dispute. They have appeared as expert financial witness before the courts and other dispute resolution forums for matters in dispute such as:

• Economic loss arising from breach of contract
• Business, share and intangible asset valuations for use in disputes involving misrepresentation in an M&A environment and prejudiced shareholder claims
• Employment disputes
• Relationship property valuations
• Financial reporting and application of generally accepted accounting principles
• Professional liability (taxation, audit and compliance accounting)
• Director liability
• Reckless trading
• Business interruption claims
• Asset tracing
• Forensic accounting and fraud investigations

Management Consulting

Baker Tilly’s strategy consulting team offers growth and profit improvement services to operating companies as well as commercial and market diligence services to private equity investors.

Our proprietary research, customized frameworks and data-driven approach is used throughout our engagements, enabling C-level executives and private equity professionals to grow companies and make the right investment and strategic decisions.

As a business grows, it is critical to have a forward-looking plan to achieve continued success.
A deep dive analysis of your market, competitive landscape, go-to-market approach, and operations will point your business in a direction for ongoing growth. Our strategy and management consultants, with diverse real-world experience, implement a data-driven approach to guide our clients to actionable outcomes. We work closely with company leaders to identify their toughest challenges and greatest opportunities. Our goal is to provide thoughtful frameworks to make informed decisions that drive revenue growth and profit improvement.

For private equity funds and independent sponsors, we provide a customized market and commercial due diligence service we call “Quality of Strategy.” We specialize in focusing on the key questions that investment committees and financing partners have, enabling them to make the best decisions. We have developed primary research methods that not only determine the true market dynamics and the target company’s positioning within it, but seek to provide actionable “Day 1” growth plans and risk mitigation activities.

We strive to be a true partner to you, and, as such, we believe in working closely and creatively with you to provide practical and innovative direction to meet your business goals.

Personal Financial Planning

Whether you need a full-service approach or a stand-alone solution, we can support your unique personal financial needs.

Our financial advisors pull expertise from investment, financial guidance and tax professionals to offer comprehensive advisory services that make a meaningful impact on your financial life. We offer a range of financial, investment, insurance, tax, retirement and estate planning and charitable giving and philanthropy services.

Baker Tilly’s private client group works with individuals, business owners, executives, and family offices to understand their goals. We then develop and implement strategies to help them achieve those goals and minimize current and future liabilities.

Our team looks at your entire financial picture, assessing your current situation to design an action plan that identifies potential opportunities and emphasizes achievable solutions. Our services include income tax planning, retirement planning, investment consulting, trust and estate planning, and business owner planning.

As things change in your life and business, we review, monitor, and adjust your plan on an ongoing basis. This process can be as simple or as complex as your needs dictate.

Whatever your individual tax, estate, and financial planning needs, we can help you achieve your objectives and enjoy peace of mind.

Mergers & Acquisitions

Middle market business owners, investors and corporations rely on our sell-side, buy-side and financing solutions to execute their growth strategy.

As experienced investment bankers, Baker Tilly Bahamas works with clients to form an objective view of a transaction and take necessary steps to maximize value. Our team’s deep experience across a wide variety of industries provides clients with practical solutions to meet their unique transaction goals.

Throughout the life cycle of a business, owners often contemplate one of the biggest questions they may ever have to face – do I want to sell or transition the business? Alternatively, business owners are deciding if they want to merge with or acquire another company to capitalize on growth opportunities.

Having experienced investment bankers guide you through the acquisition, divestiture or financing process can prove valuable in the overall success of a transaction. Baker Tilly Capital has completed hundreds of middle market transactions for public and private companies across the U.S., Europe and Asia.

Our goal is to form an independent and objective view of the transaction and work with you to take the necessary steps to maximize value. With deep experience across a variety of industries, our team provides clients with practical solutions to meet their unique goals and objectives.

Working closely with Baker Tilly’s industry and transaction accounting and tax specialists, as well as our estate planning professionals, we help clients:

• Identify and prepare for a transaction opportunity
• Negotiate, structure, and close the deal
• Plan beyond the transaction closing with straightforward advice

Valuations

Baker Tilly’s valuation professionals provide supportable, defensible and unbiased valuation opinions that can stand up to the highest levels of scrutiny.

Companies ranging from closely held businesses to multinational public corporations, and their legal counsel, rely on Baker Tilly’s valuation professionals for information critical to their strategic and financial decisions on a broad range of valuation matters.

Our dedication to all aspects of valuation means you can count on our experience, knowledge and objectivity to address your business valuation needs.