Accounting And Administrative Services

Codan Management provides a comprehensive range of accounting and administrative services for a wide range of entities.

The Companies Act 1981

Section 83 requires Companies to keep proper books and records of account and Section 84 (subject to Section 88 – the Power to waive accounts) requires financial statements to be laid before the company in general meeting.

Trust

As a matter of good practice and to satisfy the accountability of the trustees to a trust’s beneficiaries - the preparation of financial statements is deemed to be appropriate.

Accounting services

Our accounting services include:

• Maintaining client books and records
• Acting as the official agent
• Producing monthly / quarterly / annual management reports with supporting schedules and notes
• Providing timely and complete information to the Company's lawyers, auditors, and agents as required
• Directing correspondence with directors on performance and relevant issues
• Assisting in retaining legal, accounting and banking services
• Assisting chartered accountants in the preparation of their annual audit, and
• Ensuring that there is a distinct separation between overseas and Bermuda business/decisions

This listing of services is not meant to be a comprehensive listing – rather a guide to typical services requested. Additional services required outside those listed above may be discussed.

Administrative Services

Codan Management can offer its clients a “Principal Place of Business” with services that include:

• The provision of a dedicated phone line and P.O. box for correspondence
• Providing a principal place of business and a principal point of contact
• The provision of a seconded employee
• The provision of a non-exclusive rental agreement, and
• The forwarding by courier of information

Codan Management also offers the ability to manage your local and international banking transactions from Bermuda with services such as:

• Maintaining local and foreign bank accounts
• Coordinating of cash management and handling in cooperation with bank and investment officials to facilitate proper accounting, availability of funds, and to ensure there are no breaches of securities – including bank reconciliation's
• Transfering funds as directed between designated accounts
• Invoicing and collecting of receipts
• Monitoring payments of expenses, and
• The provision of bank signatories