Institute of
Chartered
Accountants
of Jamaica


MAYO HOLDINGS LIMITED (MHL)

MHL is a management consultancy organization, driven by its commitment to deliver value-added services of the highest quality, to its clients. To that end we offer our clients high-levels of expertise and where requested resource support in critical areas of their business operations. We are dedicated to the provision of professional Internal Audit, Accounting, Staff support/training and Business Advisory Services.

The directing minds and support staff of MHL are a team of highly experienced and qualified professionals whose skills base and in-depth knowledge and understanding have been gained from their extensive and international experiences. That pool of resource professionals comprises Chartered Accountants (ACCA & ICAJ), Certified Public Accountants (CPA), Certified Information Systems Auditors (CISA), holders of MBA/EMBA and degrees in Computer Science, Management Information Systems and Management Studies. The formal training of these individuals was collectively obtained in the UK, USA, Jamaica and Nigeria.

MHL prides itself at being able to provide well-developed, multi disciplined professionals capable of effectively performing complex tasks.

Based on our experiences abroad and in Jamaica, not only have we been pressing for contracted services where this is more effective, we have applied that philosophy to ourselves. Staff working with us are all on a contracted basis. Furthermore, staff are specially recruited for each assignment, our aim being to deliver quality work within minimum time. With this objective we continually evaluate recruited personnel and where performance does not meet what we consider to be the high expectation of our clients, disengagement is swift.


COMPETITIVE ADVANTAGE

We pioneered a move in the local environment in 1996 for the provision of outsourced professional Internal Audit services. There are now new players in the market place but we remain the only company in Jamaica fully dedicated to the provision of the service on a highly professional basis.

Our competitive advantage includes but is not limited to the following:
  • Our methodology, which has been designed for the local environment, is unique. It is informed by our experiences in England, the United States of America, Nigeria and the Caribbean.
  • For the range of services provided by us, our services have been extended to a wide range of industries and geographic locations. Some of these include:
    • Life Insurance companies with affiliates in the Caribbean and Latin America.
    • Insurance, stock and money market brokerage companies.
    • Commercial and merchant banking companies.
    • Investment banking and Unit Trusts.
    • Supermarket chain and restaurants.
    • Educational Institution
    • Dry cleaning
    • Tourism Interests – Hotels, Tour Operator, Car Rental Companies.
    • Construction, Manufacturing and Trading companies.
    • Non-profit organizations
  • We are the only organization in Jamaica that is dedicated to the provision of specialized Internal Audit services divorced from any external audit responsibilities. As a policy, our sister firm Obasare & Co. will not accept an Internal Audit service where we as one family are also the External Auditors. The firm of Obasare & Co. provides external audit services.
  • As professionals, it is always our desire and determination to be independent and also be seen as such. We know the business; we have sailed through the pitfalls and pioneered our path together with some of the most senior executives in Jamaica. Internal Auditing is the very essence of our existence as an organization.
  • We have a high quality of staff members with skills levels suited for our clients. The profiles of our other key players will be shared should we be required to make a presentation.
  • We at MHL, aim to adopt the culture of our client organizations and foster an atmosphere of the highest levels of cooperation with their staff members. Where we consider improvements in cultural settings to be appropriate we so advise as well.
  • We have worked with the major external auditing firms and established good cooperation with them to the extent that they seek our services to work alongside with them. This invariably helps in reducing external audit costs.
  • Our specialized experiences enable us to minimize the cost of the function. Furthermore, we do not hold ourselves as experts in client operations. We draw on our specialized skills and experiences as well as those of client managers who we believe can also play a significant role in improvement issues.

METHODOLOGY

Our operating audit philosophy is to maintain a long-term partnership relationship that ensures effective discharge of the entire audit function. This speaks to a number of Critical Success Factors (CSFs) the most important being:

  • An integrated planning process that looks at risk, control and corporate governance issues from the eyes of major players of which we shall be only one.
  • Implementation of such audit methodologies that provide comfort in all areas of the audit process.
  • Sensitivity to management.

Owing to the dynamic nature of risk, control and corporate governance issues, we revise CSFs on an ongoing basis with comfort (real or perceived) being perhaps the main driver.

Integral to our approach is the development of a full understanding of our clients’ business requirements and expected deliverables. Rather than proposing generic solutions, we tailor our services, after careful consideration of clients specific needs, to maximize value. We work toward retaining the same staff members on the outsourced engagement until rotation of field staff becomes inevitable. Even then, rotation is discussed before implementation.

We work with our clients to build stronger organizations and respond promptly to major issues. Our methodology has an eye for organizational, process and job level improvements.

We add that having developed key professionals in the country, we are able to access the labour market to obtain needed resource support within a reasonable time frame. For this reason, we respond to special assignments with short notice without loss of continuity or the pace of delivery.



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info@mayoholdings.com

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