Audit & Assurance Services

Giving you confidence and control of your business beyond the numbers

Statutory Audits and related services are simply not extending assurance on the numbers. We go above and beyond the typical assessment of numbers necessitated by the dynamic changes in the global business and economic environment in extending value addition to our esteemed clients to enhance the company's ability to operate efficiently and effectively.

Who we work with

At Business Supports Private Limited, we are affiliated with Luxe Associates (Chartered Accountants), a firm licensed by the Institute of Chartered Accountants, of the Maldives, to deliver the needed Assurance, Tax and Advisory Services for you to accomplish your ambitions., who may be trusted upon.

About Luxe Associates


Luxe Associates is a multifaceted professional service firm that offers a variety of Assurance, Tax and Advisory services in the Maldives with quality and understanding. The firm takes pleasure in its ability to create constantly inventive, technically sound, and practical solutions for its clients. The strongest testament to the firm’s reputation and services are its highly satisfied client base in various industries.

The Team

Our firm is made up of a group of highly skilled and experienced professionals who are dedicated to maximizing the value for our esteemed clients. Our team of experts is business-minded and solution-driven to bring industry knowledge and experience to each engagement combining global scale with local insight.



Hisham Fawzy FCA (Maldives) Licensed Auditor (ICAM-SP-K6Z) FCA (Sri Lanka) FCMA FCCA FIMIS MBA (NUS)

Hisham Fawzy is the founder and the Licensed Auditor of the firm and has a vast knowledge and experience of over 40 years in the profession.


Background


  • Ex-Office Managing & Assurance Partner of EY, Maldives with vast experience in a number of industries and regulatory environment.
  • Total experience of over 40 years in both practice and industry including over 25 years as an Assurance Partner.
  • Managing Director of Business Supports Pvt Ltd.


Qualifications and Skills


  • Fellow Member – Institute of Chartered Accountants, Maldives.
  • Fellow Member – Institute of Chartered Accountants, Sri Lanka.
  • Fellow Member – Chartered Institute of Management Accountants, UK.
  • Fellow Member – Association of Chartered Certified Accountants, UK.
  • Fellow Member – Institute for Management of Information Systems, United Kingdom.
  • MBA – National University of Singapore.
  • Diploma in Islamic Finance – CIMA, UK.
  • Former member of the Asia-Pacific EY IFRS Desk
  • He was an Accredited EY IFRS Auditor
  • Up-to-date IFRS and ISA knowledge
  • Served as a regional member of the Audit Quality Review team
  • Knowledge in Forensic Accounting and Auditing
  • Competent in IFRS for SMEs


Industry Experience


  • Over 40 years of assurance and related experience of which 35 years have been in the Maldives. Has experience in several industries including Banking, Financial Services, Hospitality, Construction, Telecommunications, Health Care, Manufacturing, Airline and FMCG.
  • Engagement Partner for key clients: Banks & Financial Institutions – SBI, BML, MIB, HSBC, MCB, HBL, CBM, HDFC, MFLC & MMA; Construction – MT Hojgaard, Lian Beng construction, Telecom – Ooredoo; Hospitality – more than 75 resort hotels which includes several world renown hotel chains; MNCs including Lafarge Cement; PLCs – MTCC & MTDC; SOE – audits subcontracted by AGO; Health Care – ADK Group of companies
  • As an assurance partner of EY, has gained vast knowledge and experience towards the operational policies and procedures of Financial Institutions, Public Limited Companies, Large Privately Owned Companies including Multi-National Companies and State-Owned Enterprises. Such knowledge is imperative in concluding on risk areas and designing audit procedures.
  • Has up to date knowledge of IFRSs/ISAs. Have been reporting to local, regional and international clients on a regular basis. His in-depth and current knowledge will be brought to full use for depending on the specific engagement.
  • Technical Partner
  • Previously held positions - Head of Accounting at Maldives Ports and the Manager at KPMG, Maldives.

Our Service Offerings

Whether you are an entrepreneurial owner-managed business or a multi-national group, we have the expertise to deliver a first-class audit.

Our audit and assurance services include, but not limited to

Statutory Audit

We are certified auditors by the Institute of Chartered Accountants of the Maldives Maldives and approved by Maldives Inland Revenue Authority (MIRA). We offer statutory audits to all entities irrespective of the organisation's size, be it a private limited company, proprietorship, or partnership.

Special Investigative Audit

Despite designing and setting up high-quality control systems, organisations face situations involving fraud and financial impropriety. We have assisted clients in unearthing such cases and taking remedial action.

Due Diligence Review

We assist clients in conducting financial, legal, and accounting reviews in case of mergers, acquisitions, and investments. A sound understanding of local laws, regulations, and accounting practices enable us to vet all critical issues in detail.

AGREED-UPON PROCEDURES

We carry out procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings.

Internal Audit, Special Investigative Audit, Due Diligence Review, Costing and Accounting System Design and Review – These headings should be categorized under Advisory service.

It is our objective to provide all clients with a service that is not only of the highest quality
but delivered promptly and efficiently to maximise their experience

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