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Our
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Audit and Assurance

For more than 60 years, the audit and assurance services we provide help owners, chief executive officers and chief financial officers of medium and
large businesses and organisations which are active in Greece and other jurisdictions to gain credibility and build trust with all stakeholders.

 

A changing world

We acknowledge the significance of audit and assurance service to fulfill business and compliance needs of clients. This includes reporting requirements to banks, shareholders and capital markets that arise from the Securities and Exchange Commission in Greece, in the United States of America and elsewhere.

 

How we can help you

Audits of financial statements prepared in accordance with International Financial Reporting Standards, Greek GAAP or US GAAP

The audit reports offer added value as they provide reliability to financial statements, which are useful to all stakeholders (financial institutions, capital markets, other regulatory authorities and shareholders).

The financial statement audits we perform, following the International Standards on Auditing and the methodology of Moore Global, result in the expression of an opinion of whether the financial statements present fairly the financial position and results of operations of the business.

 

Assurance engagements on tax compliance

The assurance reports on tax compliance reduce the uncertainty faced by businesses in regards to tax years that have not been inspected by the tax authorities.

 

Other assurance services

Other assurance services, some of which are mentioned below, cover special needs of businesses and organisations due to a wide range of reasons and add reliability as they are signed by independent certified auditors.

For example:

  • special purpose audit reports
  • agreed-upon procedures reports
  • audits and other services of US listed entities addressed to other member firms of Moore Global
  • consulting services for compliance with the Sarbanes Oxley Act
  • reviews of financial statements
  • examinations of Projections and Forecasts

 

Preparation of financial information

We use a specially designed software, approved by Moore Global, for the automation of annual and interim financial statements, always complying with the requirements of the International Code of Ethics and legislation in Greece.

 

The benefits

Our audit and assurance services:

  • Ensure the credibility of financial statements and other financial information of our clients.
  • Build trust to stakeholders (financial institutions, capital markets, shareholders and other users) considering that the financial statements have been audited by an internationally recognised accountancy firm represented in more than 110 countries with a presence in Greece.

 

Why trust us

  • We are the first international accountancy firm in Greece with a presence of more than 55 years.
  • We are registered in the Public Accounting Oversight Board (PCAOB), the supervisory body of auditors of public interest companies in the US, which allows our firm to perform financial audits of listed companies on the US stock exchanges.
  • Our experienced professionals (Partners and Managers) have personal involvement with the projects.
  • Our people stay long with the firm; as a result they obtain a knowledge of clients’ problems and develop long-term relationships with clients.
  • There is a rapid response from Moore Global’s affiliated offices in the US and other countries to the questions and needs of our clients, at no extra charge.
  • We are specialised in a number of industries such as shipping, hotels and media.
  • Our team consists of a large number of certified auditors.

Tax

By emphasizing on building long-term relationships with our clients, the tax services we provide help high net worth individuals and families as well as businesses to avoid additional costs and save time, during tax planning.

 

 

A changing world

The tax environment remains complex and various regulatory changes emerge constantly. This creates a challenge for businesses and individuals.

There are tax implications for any activity carried out both on a corporate level (regardless of the jurisdiction in which the activities are carried out) and on an individual level.

The need for security and certainty in the decisions that are taken today and determine the future, imposes the need for rational tax planning in order to minimise tax risks and burdens. Therefore, it is necessary to have support and credible advice from experienced tax advisors.

 

How we can help you

 

Our comprehensive tax services are designed to help you grow by taking into account the full range of taxation. These include:

 

Tax compliance

The constant changes in the tax laws and the strict fines, burden the businesses. Ensuring that you are aware of your tax obligations is the ultimate goal of our services.

We offer a full range of tax services such as completing and filing tax returns ensuring that these returns are technically correct. However, preparing a tax return is just the beginning as it helps us identify potential problems and discuss them with you.

 

Tax planning

We consider it very important to determine the tax implications of each business transaction. We have the experience to advise you on income taxes and VAT for a wide range of business activities, such as group reorganisations or business transitions to future generations.

Working closely with you, our approach to tax planning ensures that all tax issues have been addressed and every reasonable effort has been made to avoid tax problems.

Our international network ensures that international tax implications are addressed in a timely manner.

 

VAT issues

VAT is a complex tax that affects most businesses and given its nature, mistakes are very serious with far-reaching implications.

With our accumulated experience in VAT issues, our team can provide you with tips that will help you avoid the many pitfalls in regards to VAT and other indirect taxes.

 

Global solutions

Through the Moore Global Network, our firm has a strong international presence and can advise on different issues concerning different countries. As your activities can be developed internationally, our network can advise you on all your issues.

 

Diagnostic tax review

We are able to conduct tax audits with the same criteria as the tax authorities and identify problems before they become significant.

The experience we have gained from the application of tax certificates can be very useful, even in businesses that are not required to be audited by a certified auditor.

 

Labour taxation

Our team has experience advising on personal pay and providing payroll support services.

 

Asset protection

Tax legislation is complex and changes frequently, therefore it is very important that your issues are discussed regularly.

Our team can help you identify potential problems or opportunities and can suggest structures that are designed to protect your assets.

 

The benefits

The tax services we provide ensure that the tax payer:

  • will avoid additional costs, thus only paying the exact tax amount due, whether the taxpayer is an individual or a business.
  • will save up time, as tax planning takes up resources in the operations of a business and in the daily life of an individual.

 

Why trust us

Long-term relationships

Providing personalised solutions and advice presupposes a deep understanding of corporate and personal data. Building long-term relationships with our customers is the foundation of our services and provides us with the understanding we need to have in order to be able to serve specific needs.

Our professionals are always available to discuss your tax issues and concerns with you, so that you always have access to our expertise whenever you need it.

 

Tailor made solutions

We understand that each customer’s requirements and problems are unique. That is why we focus on personalised solutions and do not adopt single or “prefabricated solutions”.

We can give specialised tax advice depending on the industry and individual circumstances.

 

Comprehensive advice

Our department consists of experts from all fields of taxation, such as taxation of individuals and companies, VAT, property taxes. This means that we can provide comprehensive services ensuring that all the information we have received from you has been utilised in depth.

 

Continuity

A basic condition for the provision of a high level of services is to have a continuity in the team that serves you, in order to ensure the understanding of your issues.

We value the mutual benefit of this continuum as it makes the relationship more valuable as time goes on and we actively pursue it.

 

 

 

Governance, risk and compliance

Through our deep understanding of the issues that concern our clients, the governance, risk and compliance services we provide help owners, members of the board of directors and management to manage their compliance requirements but also to optimise the processes followed by the businesses, irrespective of their size.

 

A changing world

 

Risk management and the implementation of strong corporate governance is now an important aspect for businesses. Although in most cases, compliance is required by Law or by the Regulatory Authorities, there is an increasing number of companies that choose to follow these practices as part of an Intergrated business strategy that identifies and manages business risk, timely and effectively.

 

How we can help you

 

We offer a range of services designed to support business management in maintaining and strengthening strong governance, adequate internal control environment and effective risk management by integrating transparency and accountability into their practices.

 

Internal Audit 

Internal audit is an important element in the structure of corporate governance and adds value through independent assurance by providing valuable information to boards and senior management.

We offer complete services and practical solutions in the implementation of these practices and we can provide you with:

  • design of internal control procedures
  • complete outsourcing of internal control procedures
  • partial outsourcing (“co-sourcing”) of services, collaborating with existing teams
  • case by case support of internal groups
  • evaluation of internal procedures and reporting to management
  • training and supervision
  • high level evaluations of existing procedures and policies
  • tips for improving the internal process environment
  • reports on the effectiveness of internal procedures, providing assurance to the mandated bodies on the effectiveness of governance
  • reasonable assurance reports to third parties on the effectiveness of internal procedures
  • regulatory compliance (including advice and assistance in implementing the Sarbanes – Oxley Act (SOX)

 

Compliance – Corporate Governance

Corporate governance is more than just meeting regulations or complying with regulatory requirements.

Creating an effective corporate governance practices enables businesses to operate more efficiently and achieve greater benefits.

We work with Boards of Directors and senior executives to advise them on identifying weaknesses in corporate governance rules and suggest improvements.

Our services are tailored to specific needs and we can:

  • design together with the management appropriate structures and corporate governance policies, according to the size and resources of the business.
  • conduct extensive reviews of the existing governance framework, administrative structure and internal policies.
  • train board members to help clarify roles and responsibilities and support the best performance of the Board.
  • examine the role of the internal audit committee and its effectiveness.

In this context, we can technically support businesses that are subject to Law 4706/2020 regarding corporate governance in public limited companies with shares or other securities listed on a regulated market in Greece.

 

Compliance – General Data Protection Regulation (GDPR)

The European General Data Protection Regulation (GDPR) came into full effect on 25 May 2018. Designed to increase protection of individuals’ rights and freedoms, GDPR has strengthened privacy rules, thus increasing the businesses’ privacy obligations. Stakes are high as administrative fines can reach Euro 20 million or 4% of an organisation’s global turnover (whichever is greater), but the true cost in the case of a severe data breach is the damage to reputation and potential claims.

With GDPR affecting every business and organisation that processes personal data, we can help:

  • inform and raise awareness among top management on what GDPR requires and what the key risks for their particular business are
  • assemble a multi-discipline team to run the project ensuring risk, legal and IT are included
  • identify and record the data processing activities
  • run a gap analysis and compliance plan to identify weaknesses
  • implement the changes in policies, procedures, notices, legal, IT
  • design an Incident Response Plan
  • assess the impact to data privacy, when making important business decisions
  • roll out GDPR training to all staff
  • establish and maintain a governance-driven culture that will empower people to actively protect their business

 

Business Process Optimization

Many businesses nail down detailed processes the first time and continue to use it for a long time after. Processes should always function at their peak efficiency as it has a direct impact on the productivity of employees who use these processes. In today’s competitive business landscape, organizations must ensure that they not only document their processes adequately but dedicate time and resources to analysing and improving their processes.

We can help businesses and organisations:

  • eliminate redundancies
  • streamline workflows
  • improve communications

 

The benefits

The governance, risk and compliance services we provide ensure:

  • compliance documentation
  • smooth daily operation of the business
  • full utilisation of existing structures and procedures
  • full utilisation of existing staff
  • process optimisation

 

Why trust us

  • We are highly specialised in specific industries such as shipping, tourism and media.
  • Our experienced professionals (Partners and Managers) have personal involvement in the projects.
  • We apply recognised methodologies and best practices.
  • Our procedures and results are presented in deliverables of exceptional informational value.
  • We have a deep understanding of the issues and we are able to time the compliance projects so that they are completed on time and with the pre-determined commitment of your staff, which does not lead to pending open work.

 

 

 

IT Consulting

By emphasizing on the personal involvement of our experienced professionals in the projects, the IT consulting services we provide help owners, management and IT managers of medium and large businesses to save human resources and optimise the technological infrastructure.

 

A changing world

In today’s business world, technology systems are ubiquitous and often at the heart of value creation from businesses. But the risks of failure or errors can be high, with the constant challenge being to harness the power of IT while avoiding the risks.

 

How we can help you

 

We can help with the most demanding challenges businesses face and ensure that their IT department contributes to their development.

 

Production – installation of specialised software

We undertake the creation and installation of specialised software, which is designed and produced to meet the special needs of clients.

 

Installation of accounting programs

In the context of the services provided to our clients, we undertake the evaluation of various accounting programs, which circulate in the market in the form of ready-made packages, proposing the most suitable for them according to their needs.

 

Installation of payroll programs

In the context of the services provided to our clients, we undertake the evaluation and supply of various accounting programs, which circulate in the market in the form of ready-made packages, proposing the most suitable for them according to their needs.

 

Network management

Appropriate design, proper installation and pragmatic procedures are some of the prerequisites for the smooth and efficient operation and management of a network. We have the required specialized staff to provide advice, for the design, installation and management of a network.

 

Website management

Choosing the right Internet Service Provider, producing, hosting and managing a business website are some of the online services to which we provide our advice.

 

Maritime Accounting Software (MAS)

The Maritime Accounting Software is a cloud-ready solution that gives an innovative edge to your current information and communications technology infrastructure and provides ship owners, management, chief financial officers and accountants, each, with the information they need for real time decision-making.

It is designed so that users can navigate intuitively through a multi-company and multi-site suite that interfaces well with pre-existing software infrastructure.

 

The benefits

The IT consulting services we provide ensure:

  • human resources saving
  • cost saving
  • optimisation of technological infrastructure
  • comprehensive support

 

Why trust us

  • Accumulated knowledge and experience of over 55 years in the field of accounting services in shipping but also significant specialisation in other industries such as hotels and media.
  • The applications that are developed are relevant to the object of our firm’s work, they utilize of the above knowledge to offer clients comprehensive support services.
  • Our experienced professionals (Partners and Managers) have personal involvement in the projects.
  • Our people stay long with the firm; as a result they obtain a knowledge of clients’ problems and develop long-term relationships.

 

Transactions

Through the dedication and flexibility of our team, the transaction services we provide help investors, owners, chief executive officers and chief financial officers of medium and fast growing businesses to get the full picture of the investment (buyer’s side) and maximize the value (seller’s side).

 

A changing world

 

In this challenging environment it’s becoming increasingly important for businesses to implement their growth strategies in a forward thinking, integrated and safe manner. There is also constant pressure to ensure that mergers and acquisitions and other business transactions, deliver value to all stakeholders and that deals will not fail.

 

How we can help you

 

Whether you are seeking to buy or sell a business, our expert advice throughout the process will support you in achieving maximum value. We know that every transaction is unique and we will guide you through the requirements of your transaction, allowing you to focus on your business objectives. We provide a wide range of transaction services and can assist you at any stage of the deal. Our transaction services include, but are not limited to:

 

Valuation

The valuation of a company or its assets is a complex process which results in many cases being subjective, as they depend on the analysis, assumptions and the independent judgment of each analyst. Choosing an independent specialist consultant is a key factor in completing a successful transaction.

Due Diligence

We can help you with a detailed investigation of the target company and focus on:

  • the financial data of the target company
  • legal issues
  • tax issues
  • business operations issues
  • labour issues
  • compliance with loan terms
  • rights (intangibles)
  • a combination of all the above topics

 

Business Transformation

Our team undertakes the provision of consulting services in the context of business transformation and reorganisation, indicatively in cases such as :

  • conversions
  • mergers and divisions
    1. merger by absorption
    2. merger with the establishment of a new company
    3. split by absorption
    4. split by setting up new companies
    5. split by absorption and establishment of new companies
  • transfers of companies, branches or departments
  • acquisitions

 

 

The results of the above services are presented in a detailed report to assist those involved in evaluating the transaction in question and in eliminating the inherent risks that exist in it. Providing reliable information is important, which is why we keep our clients informed with regular meetings and presentations, interim and final reports. By identifying areas of risk, or inaccuracies that allow the parties involved to renegotiate the terms of the transaction, we support the making of the most beneficial decisions and the planning of the next steps of the parties involved.

 

Control of investment plans and certification of completion and commencement of the productive operation of investments (Law 4635/2019).

The certification of completion and commencement of the productive operation of investments requires an audit report on the completion and commencement of the productive operation of the investment. Carrying out audits of investment plans by certified auditors – accountants or auditing companies is considered a mandatory audit. Our long presence in the provision of audit services combined with the accumulated experience and the thorough technical training of our staff, makes us a safe choice for achieving your goals.

 

The benefits

The transaction services we provide ensure that:

  • the buyer’s side has the full picture in order to evaluate the investment
  • the seller’s side maximizes its value by being assisted as to how to position the business prior to a sale
  • the client’s assets are protected

 

Why trust us

Moore Greece offers you the dedication and flexibility of a boutique, combined with the knowledge and power of an integrated financial services network. Whilst our expertise and worldwide presence are comparable with that of the largest players, we make a conscious choice to have a smaller and more independent network. This allows us to address each assignment with truly tailored advice, as you would expect from a trusted business companion.

 

Accounting Outsourcing

Through the personal involvement of our experienced professionals in the projects, the accounting outsourcing services we provide help owners, chief executive officers and chief financial officers in businesses of all sizes, to free up valuable time and channel it into more profitable tasks.

 

 

 

A changing world

 

Managing your day-to-day operations is in itself a challenge without having to worry about accounting, payroll and tax returns. Outsourcing to qualified professionals can solve these problems. Also for the cases where there is no physical presence of senior executives in Greece, it is useful and can prove beneficial to have supervision of operations locally.

 

How we can help you

 

 

Accounting services

Bookkeeping

We provide accounting services, which undertake the completion of keeping of the clients’ accounting books in our offices, with our own means or at the client’s facilities with our own means or the client’s. In this way, the companies focus on their productive work and their senior executives are employed at a minimum in jobs that require specialised accounting and tax knowledge.

Accounting supervision

In case a company has its own accounting department that deals with daily accounting operations, but without the accounting staff having specialised knowledge or multilevel accounting experience, we can provide experienced and specialised accountants to supervise or perform accounting operations such as: balance sheet, tax audits, detailed accounting etc.

Shipping accounting

Due to our many years of experience in the shipping industry, we specialise in keeping accounting books for all types of shipping companies such as seagoing shipping, shipping, cruise ships, management shipping companies etc.

We also use software that is tailored to the needs of shipping.

Payroll services

Payroll

We undertake the calculation and issuance of the payroll of any kind of business, as we have a complete department with specialised staff.

Advice on labour and insurance issues

Our consultants are able to constantly inform the client about any new labour – insurance provisions that concern them and are for the benefit of the company. We give particular emphasis to the resolution of issues in a timely and efficient manner, providing our customers with direct communication and accessibility to high-level executives with valid and immediate solutions.

First time adoption of the International Financial Reporting Standards (IFRS) and the new Greek Accounting Standards

Our consultants are technically trained and in combination with their many years of experience and information are able to provide transition services within the new framework of International Accounting Standards and the new Greek Accounting Standards on a case by case basis.

The benefits

By assigning processing tasks such as accounting support, bookkeeping and payroll to experienced associates, the management will free up valuable time, which will be able to channel into more profitable tasks.

The cost of entrusting your accounting tasks to us is much less than having your own accounting department. In addition, you are confident that you are supported by experienced and knowledgeable accountants.

 

 

Why trust us
  • We undertake the bookkeeping in all types of companies.
  • We use a software tailored to clients’ needs.
  • There is a personal involvement with the projects from our experienced professionals.
  • Our accountants have many years of experience and expertise in their respective fields.
  • Depending on your needs, we support you with specialists in international and Greek taxation, Greek Accounting Standards, IFRS, US GAAP etc.
  • As your activities increase, we support you with a full range of consulting services, both in Greece and in 110+ other countries through the Moore Global Network.

 

 

 

 

 

 

 

 

Maritime Accounting Software

A future proof, scalable and cost effective accounting and reporting software, uniquely tailored for maritime.

 

 

Challenges in Maritime

Maritime companies face significant challenges. Every day, they carry the responsibility for the safety and wellbeing of their crew, the seaworthiness of their vessels and the immaculate condition and timely delivery of their cargo. At the same time, they need to manage the expectations of a number of stakeholders, being their owners and investors, bankers, regulators and many others. However, accounting and financial reporting shouldn’t be amongst them.

 

 

Our solution:

Maritime Accounting Software

 

The Maritime Accounting Software is a cloud-ready solution that gives an innovative edge to your current information and communications technology infrastructure and provides ship owners, CFOs and accountants, each, with the information they need for real time decision-making.

It is designed so that users can navigate intuitively through a multi-company and multi-site suite that interfaces well with pre-existing software infrastructure.

 

 

Specially designed for Maritime

 

Tailored for Maritime
The software is customised by a global leader in shipping accounting and auditing with a decades-long association to the maritime industry.

 

Future proof
The software is powered by a globally acclaimed, well established, full suite ERP, with thousands of global clients.

 

Scalable
It grows along with your operation and interfaces well with your other operating systems.

 

Cost effective
A surprisingly cost effective solution, considering the technology and features included, as well as the level of customisation in maritime.

 

Intuitive
Users can navigate intuitively so as to minimise familiarisation times.

 

 

A feature rich solution with great benefits

 

Multi-level management
Manage all vessels, irrespective of their type, and all your receipts and payments in all currencies, in one place and get access from anywhere.

 

Multi-Book
One reliable set of data that feeds consistently to various destinations (accounting books, financial statements, tax records, reports to management).

 

Automated postings
Perform tasks of routine and mechanical nature, effectively and efficiently.

 

Cash flow forecasting
Manage cash by indicating the anticipated timing of collections and payments within the accounts receivable and accounts payable modules, respectively.

 

Combinations and Consolidation
Numerous alternatives to present the overall position and performance of your fleet and sub-groupings of your fleet.

 

Drill down functionality
Access the granular detail, all the way to the supporting document that can be attached to the accounting record.

 

Intuitive search capabilities
Find what you want with minimum effort, intuitively, without training.

 

MS Excel compatibility
Minimize the effort of importing and exporting information.

 

 

Financial Suite overview

 

The Financial Suite includes all essential shipping accounting elements, as seen below:

Shipping Accounting

  • Voyage Accounting
  • Intercompany Accounts
  • Management Accounting
  • Allocation of Management Expenses
  • Budgeting & Cash forecasting
  • Bank Accounts Management – Reconciliation
  • Electronic Funds Transfer (EFT)

Accounts Payable

  • OpEx/CapEx Management
  • Payment Schedule
  • Aging Analysis
  • Fixed Assets Management
  • Automated posting of FX differences

Accounts Receivables

  • Collections Schedule
  • Aging Analysis
  • Automated posting of FX difference

 

 

 

 

 

 

 

ESG – Environmental, Social and Governance

Demand for transparency on socially responsible practices is on the rise. Corporates are being held accountable to various stakeholders on the impact of their operations in the community and the world at large. ESG criteria have become an increasingly important topic for a list of core stakeholders ranging from companies, investors, financiers, customers, employees, and non-governmental organizations.

 

ESG is one of the most important topics on the Board agenda these days. Key stakeholders are now expecting that ESG or Sustainability reporting will be part of a company’s ongoing reporting process and will form a key consideration for their relationship with the company.

 

The term ESG is often interchangeably used with sustainability, considering that both have the same objectives of improving a company’s business practices by boosting its competitiveness and winning confidence of the investors, customers, and regulators.

 

The ESG criteria are considered as the evolution and an integral part of the traditional sustainability reporting. It is a monitoring tool, strongly linked to the corporate long term strategy, the targets of which can be re-assessed on the basis of its annual progress.

 

Disclosing the firm’s ESG performance is linked to access to sustainable funding, easier penetration in new markets and, in general, improving those characteristics that increase competitiveness in the market.

 

 

 

*ESG reporting guidelines refers to the disclosure of data and indicators covering the firm’s operations in three areas: Environmental, Social and Corporate governance.

 

 

 

Moore Maritime Index (MMI)

The Moore Maritime Index (MMI) is our exclusive statistical and analytics tool on shipping operating costs and revenues of more than 1,500 vessels, across more than 20 vessel types, covering below cost categories:
  • Crew costs: wages, provisions and other costs
  • Stores: lubricants and other store costs
  • Repairs & maintenance, including spares
  • Insurance
  • Administration

Additionally, Moore Maritime Index provides exclusive information relating to vessels’ net income and dry docking/special survey expenses. We extract our data from the financial statements of ship-owning companies audited by Moore Global member firms, as well as from verifiable independent submissions from all around the world.

To learn more, visit the Moore Maritime Index webpage.

Maritime Financial Reporting Masterclass

Moore Greece and SQLearn have come together to develop a platform that aims to be the point of reference for finance professionals in the maritime sector.

Certified by the American Bureau of Shipping (ABS), the platform hosts e-learning training masterclasses on significant business events that take place daily and are known to have complex accounting and financial reporting implications.

By combining Moore Greece vast expertise as accountants and auditors in the maritime sector, with SQLearn’s creative and effective e-learning solutions, each masterclass is designed to provide a complete theory-to-practice application in less than an hour.

The masterclasses are presented by Moore Greece client facing partners, specializing in IFRS and US GAAP and enriched with multimedia elements, are offering a remarkable learning experience. Moreover, the Certificate of Attendance that is issued after the masterclass completion, is considered to provide a competitive advantage for the participants’ resumes.

Additionally to all the above, the masterclasses offer an invaluable selection of tools and templates for attendees to download, customize and use, simplifying their everyday working routine.

 

 

 

 

 

 

 

 

 

 

 

62 years of presence
120 professionals

Get in touch with Moore Greece

Our  team offers a full range of assurance, advisory, tax, outsourcing & payroll  services.

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