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Profile A.I.Macan Markar & Co.

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Arjuna Dangalla
Arjuna Dangalla

A I Macan Markar & Co is a chartered accountancy firm founded in 1946 in Sri Lanka. It has 4 partners and provides auditing, taxation, management consulting, and IT services to clients across various industries. The firm also has associated companies that offer secretarial services, management consulting, and legal advice.

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A I Macan Markar & Co Chartered Accountants No. 46- 2/1, 2nd Floor, Lauries Road, Bambalapitiya Colombo-04. Tel. No : 2594205 / 2594192 Fax No : 2594285 Email Address : aimm@sltnet.lk GENERAL A I Macan Markar & Co (AIMM) was founded in 1946 by Late Mr A I Macan Markar, FCA and since then there have been changes in the partners associated with the firm from time to time, due to retirement. AIMM was approved as a special firm to carry out Public Practice since 6th September, 1961. In April 1982, the firm became an Associate Firm of the then Ford, Rhodes, Thornton & Co (presently known as KPMG Ford, Rhodes, Thornton & Co) and ceased to be so on 18th June, 2004. The Partners presently attached to the firm are: Mrs. Sriranjani Vishnukanthan, FCA A qualified Chartered Accountant in 1984, having served her articles first at Satchchithanantha Schockman & Co and then at Rajaratnam & Co. Thereafter, she started the partnership S R Associates with Mr. Rabendravarman, FCA in 1984. She is also the Precedent Partner of A I Macan Markar & Co since 2004. Mr. Rajan Niles, ACA, FCMA A qualified Chartered Accountant in 1992 having served at KPMG Ford, Rhodes, Thornton & Co for ten (10) years and left KPMG as an Audit Manager. Thereafter, he held senior positions in the industry for the last ten (10) years and finally served as the Assistant General Manager Finance of Asia Broadcasting Corporation (Pvt) Ltd for six years until he joined A I Macan Markar in March 2009. He is also a Fellow Member of the Chartered Institute of Management Accountants (CIMA) of U.K. Mr. R. Rabendravarman, FCA A qualified Chartered Accountant in 1975, worked as an Audit Manager in Pannell Kerr Foster, a firm of Chartered Accountants in Sierra Leone, West Africa. Thereafter, served as a Partner of S R Associates from 1984. He is also a Partner of A I Macan Markar & Co since 2004.
Mr. E. Annalingam FCA A qualified Chartered Accountant in 1976 and counts over 30 years of work experience in Governmental and Non-Governmental organizations. Managerial/Senior Staff Mr A.U.Dangalla Mr M Z A Cader Ms K Thiruniraichselvi Our total staff strength, including the Partners, would be thirty (30). OUR SERVICES: AUDIT The firm undertakes to carry out: Statutory and voluntary audit; General and special audit; Audit of Exchanges, Non-Budgetary Funds and Investment Institutions; Audit of Financial Statements prepared under in accordance with SLAS. The firm is authorized by the Institute of Chartered Accountants of Sri Lanka for conducting audit of accounting and financial reporting of all types of companies in Sri Lanka. We possess large experience in carrying out independent statutory and voluntary audits, including audits of major industrial enterprises with a large number of branches and affiliates. We carry out audits taking account of interests of all types of users whom it may concern: Shareholders; Top-management; Specialist Executives; Any other users of information. TAX AUDIT AND RELATED MATTERS Our specialist staff is happy to undertake Tax Audit and assist to settle Tax Disputes whereby the following types of work be carried out: Computation of income for tax purposes according to the Inland Revenue act No:28 of 1979 and amendments thereafter.
Completing tax return forms and submitting to Inland Revenue Department. Advising on quarterly tax payments such as VAT ESC PARTNERSHIP TAX PAYE IT SELF ASSESSMENT PAYMENTS Professional support in the course of the inspection conducted by the Inland Revenue. Preparation of computation of taxes after settlement the disputes if any after the inspection. Representing clients interests before the authorities of the Inland Revenue; Preparation of financial documents for Arbitration and other various organizations and different purposes; Representing clients interests in all matters before in any of the States Bodies including Tax Authorities, Arbitration, Support of the entrepreneurs; Having expanded audit work and connected services over years, today the firm provides clients with advisory services on the full spectrum of matters relevant to: Tax Law. Labor Law. Laws regulating activity of Commercial enterprises and no-for-profit organizations. Company Law Special mention should be made of the protection of clients interests before: Tax authorities. Other State authorities. IT-Consulting Specialists of our IT department together with the other specialists of the firm are able to assist in troubleshooting and problem-solving likely arising in the course of following work: Client review for implementation of IT systems Development of information model of enterprise processes, establishment of information frames and Automated Working Places (workstations); Development of customized software package, regalement of activity in new working environment; Advising on system implementation, undertaking training of users, etc; Consulting on application of Accounting Software Packages; System integration of clients (consulting on acquisition of hardware and software, network set up and network administration, software application, etc.);
Development, installation and running of software packages in the field of management accounting. Management consulting These days one of the most sought after field of consulting is Management Consulting. The firm offers the following services in the field of management and administration consulting: Conducting of a companys peer review: o Financial analysis; o Existing business processes analysis; o Management system analysis; o Analysis of how efficiently material recourses are used (material surplus, finances, long-term assets); o Production costs analysis and sundry expenses analysis. Financial management department. Assistance with elaboration and implementation of specialist systems of management with a view to increase of effectiveness of the use of a companys financial resources and conduct of business activity (including planning systems (budgeting) of financial and material flows); Advising on aspects of optimization of property and costing structure (with or without any tax mitigation schemes); Analysis of existing investment projects and elaboration of tailor-made business plans taking account of clients specifics; Enterprise reorganization: o External organizational: enterprise reorganization, segregation of business into independent enterprises, change of funding methods and direction of financial flows; o Internal manufacturing: rearrangement in allocation of production facilities amongst work shops, segregation of non- profile, sideline production etc. Debt rescheduling; Conducting an appraisal of investment attractiveness of enterprises. Analysis of investment projects and conduct of due diligence prior to solicitations of investments and credits; Elaboration of corporate strategy and corporate management policies; Analysis of document management systems, elaboration and introduction of advanced document management system; Executive search and staff & performance appraisal. Assisting in preparing budget, cash flows, variance analysis. Assisting in preparing project report. Assisting in obtaining BOI approval. We provide legal and tax consulting services to middle-sized and large companies
Our clients Our clients are engaged in a variety of business activities in the following sectors of economy: agriculture applied science/academy art banking and finance building industry computer-aided technologies education energy sector fish farming/fishing industry food industry forestry hotel/restaurant business leasing mechanic engineering medicine metalworking industry microbiology paper-and-pulp industry/printing/publishing public health and social services real estate tourism industry transportation OUR ASSOCIATE COMPANIES S.R.ASSOCIATES S.R.ASSOCIATES, is a medium sized firm registered to carry on audit, accountancy and tax advisory work. Expanded services include: financial management, legal advice, management consulting in operation Since 1984, MALORA MANAGEMENT & SECRETARIAL SERVICES (PVT) LIMITED. A Private Limited liability Company incorporated in 1984 in Sri Lanka under the Companies Act No:17 of 1982. The Directors are Mr.R.Rabendravarman,FCA
Mr.N.Vishnukanthan Attorney At law & NP, Commissioner of Oaths Mrs.S.Vishnukanthan, ACA The Services provided are: Assisting in incorporating new companies. Obtaining BOI approval Providing secretarial services maintaining minute books, attending AGM. Filing annual returns to Registrar of Companies. Management Consultants. Legal Advice CORPORATE MANAGEMENT CONSULTANTS (PVT) LTD, Also incorporated as a Private Limited Liability under the Companies Act no;17 of 1982 in Sri Lanka The directors are Mr.R.Rabendravarman,FCA Mr.N.Vishnukanthan Attorney At law & NP, Commissioner of Oaths Mrs.S.Vishnukanthan, ACA The Services provided are: Writing up Books of Accounts Providing IT related services Preparing budgets, cash flows etc. Advice on internal Control systems.
OUR LICENSE We are registered ourselves with the Western Province Provincial Council as a Partnership in 1984. Since we are the members of the Institute of Chartered Accountants of Sri Lanka, to practice as Chartered Accountants we have to register ourselves as a practicing members with the Institute and renew the membership every year. S.R.ASSOCIATES/ A.I.MACAN MARKAR & CO
OUR ORGANISATION STRUCTURE: PARTNER / PROPRIETOR *WORKING PARTNER/SENIOR AUDIT MANAGER ADMINISTRATIVE **AUDIT TAX MANAGER MANAGERS MANAGER JUNIOR OFFICE ***JUNIOR AUDIT ASSISTANT OFFICE CLERKS STAFF MANAGERS MANAGER TRAINEES COMPUTER OPERATORS *My Position ** Passed finalists 2 People *** Final students 7 people

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Profile A.I.Macan Markar & Co.

  • 1. A I Macan Markar & Co Chartered Accountants No. 46- 2/1, 2nd Floor, Lauries Road, Bambalapitiya Colombo-04. Tel. No : 2594205 / 2594192 Fax No : 2594285 Email Address : aimm@sltnet.lk GENERAL A I Macan Markar & Co (AIMM) was founded in 1946 by Late Mr A I Macan Markar, FCA and since then there have been changes in the partners associated with the firm from time to time, due to retirement. AIMM was approved as a special firm to carry out Public Practice since 6th September, 1961. In April 1982, the firm became an Associate Firm of the then Ford, Rhodes, Thornton & Co (presently known as KPMG Ford, Rhodes, Thornton & Co) and ceased to be so on 18th June, 2004. The Partners presently attached to the firm are: Mrs. Sriranjani Vishnukanthan, FCA A qualified Chartered Accountant in 1984, having served her articles first at Satchchithanantha Schockman & Co and then at Rajaratnam & Co. Thereafter, she started the partnership S R Associates with Mr. Rabendravarman, FCA in 1984. She is also the Precedent Partner of A I Macan Markar & Co since 2004. Mr. Rajan Niles, ACA, FCMA A qualified Chartered Accountant in 1992 having served at KPMG Ford, Rhodes, Thornton & Co for ten (10) years and left KPMG as an Audit Manager. Thereafter, he held senior positions in the industry for the last ten (10) years and finally served as the Assistant General Manager Finance of Asia Broadcasting Corporation (Pvt) Ltd for six years until he joined A I Macan Markar in March 2009. He is also a Fellow Member of the Chartered Institute of Management Accountants (CIMA) of U.K. Mr. R. Rabendravarman, FCA A qualified Chartered Accountant in 1975, worked as an Audit Manager in Pannell Kerr Foster, a firm of Chartered Accountants in Sierra Leone, West Africa. Thereafter, served as a Partner of S R Associates from 1984. He is also a Partner of A I Macan Markar & Co since 2004.
  • 2. Mr. E. Annalingam FCA A qualified Chartered Accountant in 1976 and counts over 30 years of work experience in Governmental and Non-Governmental organizations. Managerial/Senior Staff Mr A.U.Dangalla Mr M Z A Cader Ms K Thiruniraichselvi Our total staff strength, including the Partners, would be thirty (30). OUR SERVICES: AUDIT The firm undertakes to carry out: Statutory and voluntary audit; General and special audit; Audit of Exchanges, Non-Budgetary Funds and Investment Institutions; Audit of Financial Statements prepared under in accordance with SLAS. The firm is authorized by the Institute of Chartered Accountants of Sri Lanka for conducting audit of accounting and financial reporting of all types of companies in Sri Lanka. We possess large experience in carrying out independent statutory and voluntary audits, including audits of major industrial enterprises with a large number of branches and affiliates. We carry out audits taking account of interests of all types of users whom it may concern: Shareholders; Top-management; Specialist Executives; Any other users of information. TAX AUDIT AND RELATED MATTERS Our specialist staff is happy to undertake Tax Audit and assist to settle Tax Disputes whereby the following types of work be carried out: Computation of income for tax purposes according to the Inland Revenue act No:28 of 1979 and amendments thereafter.
  • 3. Completing tax return forms and submitting to Inland Revenue Department. Advising on quarterly tax payments such as VAT ESC PARTNERSHIP TAX PAYE IT SELF ASSESSMENT PAYMENTS Professional support in the course of the inspection conducted by the Inland Revenue. Preparation of computation of taxes after settlement the disputes if any after the inspection. Representing clients interests before the authorities of the Inland Revenue; Preparation of financial documents for Arbitration and other various organizations and different purposes; Representing clients interests in all matters before in any of the States Bodies including Tax Authorities, Arbitration, Support of the entrepreneurs; Having expanded audit work and connected services over years, today the firm provides clients with advisory services on the full spectrum of matters relevant to: Tax Law. Labor Law. Laws regulating activity of Commercial enterprises and no-for-profit organizations. Company Law Special mention should be made of the protection of clients interests before: Tax authorities. Other State authorities. IT-Consulting Specialists of our IT department together with the other specialists of the firm are able to assist in troubleshooting and problem-solving likely arising in the course of following work: Client review for implementation of IT systems Development of information model of enterprise processes, establishment of information frames and Automated Working Places (workstations); Development of customized software package, regalement of activity in new working environment; Advising on system implementation, undertaking training of users, etc; Consulting on application of Accounting Software Packages; System integration of clients (consulting on acquisition of hardware and software, network set up and network administration, software application, etc.);
  • 4. Development, installation and running of software packages in the field of management accounting. Management consulting These days one of the most sought after field of consulting is Management Consulting. The firm offers the following services in the field of management and administration consulting: Conducting of a companys peer review: o Financial analysis; o Existing business processes analysis; o Management system analysis; o Analysis of how efficiently material recourses are used (material surplus, finances, long-term assets); o Production costs analysis and sundry expenses analysis. Financial management department. Assistance with elaboration and implementation of specialist systems of management with a view to increase of effectiveness of the use of a companys financial resources and conduct of business activity (including planning systems (budgeting) of financial and material flows); Advising on aspects of optimization of property and costing structure (with or without any tax mitigation schemes); Analysis of existing investment projects and elaboration of tailor-made business plans taking account of clients specifics; Enterprise reorganization: o External organizational: enterprise reorganization, segregation of business into independent enterprises, change of funding methods and direction of financial flows; o Internal manufacturing: rearrangement in allocation of production facilities amongst work shops, segregation of non- profile, sideline production etc. Debt rescheduling; Conducting an appraisal of investment attractiveness of enterprises. Analysis of investment projects and conduct of due diligence prior to solicitations of investments and credits; Elaboration of corporate strategy and corporate management policies; Analysis of document management systems, elaboration and introduction of advanced document management system; Executive search and staff & performance appraisal. Assisting in preparing budget, cash flows, variance analysis. Assisting in preparing project report. Assisting in obtaining BOI approval. We provide legal and tax consulting services to middle-sized and large companies
  • 5. Our clients Our clients are engaged in a variety of business activities in the following sectors of economy: agriculture applied science/academy art banking and finance building industry computer-aided technologies education energy sector fish farming/fishing industry food industry forestry hotel/restaurant business leasing mechanic engineering medicine metalworking industry microbiology paper-and-pulp industry/printing/publishing public health and social services real estate tourism industry transportation OUR ASSOCIATE COMPANIES S.R.ASSOCIATES S.R.ASSOCIATES, is a medium sized firm registered to carry on audit, accountancy and tax advisory work. Expanded services include: financial management, legal advice, management consulting in operation Since 1984, MALORA MANAGEMENT & SECRETARIAL SERVICES (PVT) LIMITED. A Private Limited liability Company incorporated in 1984 in Sri Lanka under the Companies Act No:17 of 1982. The Directors are Mr.R.Rabendravarman,FCA
  • 6. Mr.N.Vishnukanthan Attorney At law & NP, Commissioner of Oaths Mrs.S.Vishnukanthan, ACA The Services provided are: Assisting in incorporating new companies. Obtaining BOI approval Providing secretarial services maintaining minute books, attending AGM. Filing annual returns to Registrar of Companies. Management Consultants. Legal Advice CORPORATE MANAGEMENT CONSULTANTS (PVT) LTD, Also incorporated as a Private Limited Liability under the Companies Act no;17 of 1982 in Sri Lanka The directors are Mr.R.Rabendravarman,FCA Mr.N.Vishnukanthan Attorney At law & NP, Commissioner of Oaths Mrs.S.Vishnukanthan, ACA The Services provided are: Writing up Books of Accounts Providing IT related services Preparing budgets, cash flows etc. Advice on internal Control systems.
  • 7. OUR LICENSE We are registered ourselves with the Western Province Provincial Council as a Partnership in 1984. Since we are the members of the Institute of Chartered Accountants of Sri Lanka, to practice as Chartered Accountants we have to register ourselves as a practicing members with the Institute and renew the membership every year. S.R.ASSOCIATES/ A.I.MACAN MARKAR & CO
  • 8. OUR ORGANISATION STRUCTURE: PARTNER / PROPRIETOR *WORKING PARTNER/SENIOR AUDIT MANAGER ADMINISTRATIVE **AUDIT TAX MANAGER MANAGERS MANAGER JUNIOR OFFICE ***JUNIOR AUDIT ASSISTANT OFFICE CLERKS STAFF MANAGERS MANAGER TRAINEES COMPUTER OPERATORS *My Position ** Passed finalists 2 People *** Final students 7 people