Our day-to-day support is based on a centralized book-keeping model reporting to head office, yet using local partners to provide local employees with a point of contact on payroll queries. Thus, all management accounts for all entities in all countries are centrally maintained by Nair & Co in our UK and/or India offices, usually to the parent company chart of accounts. These accounts are reviewed and consolidated/finalized by a Supervisor/Manager before transmission to head office on the due date.

The management accounting package is as agreed with you. We will provide you with what you want, when you want it but can give you guidelines on what many of our clients ask us to provide.

Typically the package consists of once a month payroll, twice a month expense claim processing, paying employees and vendors, responding to routine queries from local employees and head office and also responding to routine queries from regulators.

In some countries (e.g. Italy, Taiwan) there are requirements to keep management accounts in a local format. In other countries (e.g. Japan, Hong Kong, Singapore) there are issues such as municipal taxes and provident fund issues which need to be taken into account when running payroll. Where this is a requirement, it is covered within our standard day-to-day support offering.

Nair also employs a full time Internal Auditor who carries out rolling reviews of client files in UK and India. The test schedules are internally driven and comply with Sarbanes-Oxley (SAS-70) provisions.

This solution saves hassle at head office, who now deal regularly with only one person in Nair for all of their international day-to-day needs, while simultaneously it provides a local point of contact for responding to employee queries on payroll.