Mouawad & Partners Business Profile

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Table of Contents

Overview ........................................................................................................................................... 3 Our Approach.................................................................................................................................... 3 Our Culture and Values .................................................................................................................... 3 Conscience ....................................................................................................................................... 4 Independence ................................................................................................................................... 4 Science ............................................................................................................................................. 4 Client’s Expectations......................................................................................................................... 5 Our Team .......................................................................................................................................... 5

Joy MOUAWAD............................................................................................................................. 5 Salim HADDAD ............................................................................................................................. 6 Georges BECHARA ...................................................................................................................... 7 Paul ABOU HAMAD ...................................................................................................................... 7

Our Services ..................................................................................................................................... 7 Financial Auditing Services ................................................................................................... 8

a) External Audit: ................................................................................................................... 8 b) Permanent Audit:............................................................................................................... 8 c) Special Audit: .................................................................................................................... 8 d) Tax Audit and Assistance:................................................................................................. 8 e) Internal Audit: .................................................................................................................... 8 f) Business-Oriented Audit, Reviews and Compilations: ...................................................... 9

International Tax Planning & Compliance Services : ............................................................ 9 Business Plans and Budgets:................................................................................................ 9 Acquisitions, Mergers and Joint Ventures: ............................................................................ 9 Management Consultancy Services:................................................................................... 10 Information Technology and Computer Systems: ............................................................... 10

Our Network .................................................................................................................................... 11 Partners and Associates ................................................................................................................. 11

Totalserve............................................................................................................................ 11 BEETEC.............................................................................................................................. 11 PAN ARAB PUBLISHERS .................................................................................................. 12

Portfolio of Clients ........................................................................................................................... 13 Contact Information......................................................................................................................... 13

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Overview At Mouawad & Partners, we aim to create the best work environment where VALUES and PROFESSIONALISM are settled. These values are the bases of our decisions that help people understand their roles in our firm’s success.

Mouawad & Partners was founded in 1989 By its managing partner Joy Mouawad. Currently our firm provides an international standard of professional advisory services revolving around the following areas of expertise in:

Financial audit Accounting and financial expertise International fiscal planning Management consulting

Our firm contains qualified, highly skilled and competent professionals who serve our clients in every step in their business process. Our team does highly have superior level of expertise in different commercial fields. The International Standard quality service at a fair value summarizes our firm’s policy to our clients.

Our aim is to secure an increasingly inventive service approach to our clients’ complex business problems and in the process, establishing a reputation for thought leadership, products and the intelligent use of technology.

Our Approach Our Approach reflects our overall vision in serving as professional advisors. We seek a personal relationship with our clients providing them with the services they need in the most effective manner to offer meaningful and challenging work. We mainly focus on providing career development to support our professional growth in a way where we succeed in our duty within the most reasonable fees to get. Mouawad & Partners targets first to operate by creating an environment where we feel connected and appreciated by each other and mainly by our clients.

Our Culture and Values Our aim is to be leader in our field by delivering remarkable services to our clients within our standard principal values so that we can contribute to a better touch in our business community.

Mouawad & Partners is committed to the highest levels of conscience, independence and science. These values are at the core of all what our personnel do, they are shared by all the colleagues to conserve our best client service standards. The law is above all so it’s not difficult to pretend what it’s legal but our values make us choose what it’s right. We enjoy seeing our personnel working under the big title of professionalism and ethics which are involved in every single daily task which means for Mouawad & Partners to be engaged to challenging work within a team work spirit in order to deliver the excellence, the expertise and the leadership in any market environment. Doing the right thing means to our personnel operating within the letter and the spirit of the laws that govern their professions and the global marketplace.

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The orientation toward the ethical behavior is a premium part of the culture Mouawad & Partners. It’s embedded in the way we make decisions, the way we take action, the way we treat our clients and in the way we treat each other.

Our ethical principles are adopted by each of our employees and are linked directly to the Mouawad & Partners basic values which define the standards of ethical behavior that unite all of our employees.

Conscience Our client’s interest is ours!

Our business, our day-to-day work, our duties, our personnel and everything that’s related to Mouawad & Partners do operate under the grand title of conscience. We focus on offering the highest level of professionalism without saying...consciously. All our services are oriented regarding our clients’ interests. We target to push all who we deal with, whether he is a one of our personnel or client, to maintain our reputation for transparency, conscience and excellence.

Independence Our unity makes us strong!

Our remarkable personnel considering their ethics and values that match with our firm’s, their qualification, expertise and professionalism make us unique and independent. We only operate respecting our professional rules and our company’s and country’s regulations, there’s not a third factor that occurs. Our dignity and honesty in work encourage us being independent and not replying to any specific will. This independency makes us highly earn our clients’ trust and willing to work with Mouawad & Partners, which is one of our main targets.

Science Because we are men of professionalism!

Our work is mainly based on professionalism, which results basically from expertise and especially from education. Our continuously work on research and development, traveling to European and American countries to assist to the most important worldwide seminars make us always up-to-date with the newest theories related to our field. We aim to innovate by developing creative solutions and putting them into action.

Learning is an important task for us; we continuously develop the knowledge of our business and the expertise of everyone in it.

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Client’s Expectations Our clients expects from our firm:

1) To provide them the best personnel to deal with: Our personnel focus on our client’s service. Their long hours work accompanied by an important motivation gives them more and more knowledge, expertise and responsibility. They are proactive, relationship builders and always asking for new challenging responsibilities.

2) Work Experience: we have a frequently different environment and multiple client assignments throughout the year. Every client is a new challenging responsibility for us. Every time we succeed, we are earning our staff a new fresh work experience, which will give us a plus for the next client.

3) Flexibility: Our team is oriented to respect our clients’ deadlines. We may often manipulate our working hours in order to give the best results on time

Our Team Every company is measured by its efficient Human Resources as they are its most important investment. In Mouawad & Partners we are highly proud of our staff starting by the audit partners going to the junior auditors. We believe that highly qualified and trained staff is the only source of best client service. Our staff is continuously improving their skills to provide best services of course under the control of our partners.

Joy MOUAWAD

Joy Mouwad is the founder and the Managing Partner of Mouawad & Partners.

Indeed, he founded B.E.E.T.E.C (Bureau d’Etudes et d’Entreprises Techno-Economiques) in 1985 which is specialized in all business formalities, including company establishment, administrative proceedings, Tax clearance and tax formalities. In addition, B.E.E.T.E.C. assists its clients to manage their personnel needs, to free their internal resources, to focus on their business without the added worry of locating highly trained and professional personnel.

With a wide experience in the areas of financial and accounting audit and management consulting, Joy Mouawad has founded a number of companies and unions operating in areas closely related to his fields of expertise

As for Mouawad & Partners, it was founded by Joy Mouawad in 1989. It’s a multi tasks company which focus mostly on financial auditing in accordance with International Auditing Standards (IAS), Advice concerning wage and salary procedures, projections, budgets and strategic planners and lots of other duties which will be mentioned in our duties.

Joy Mouawad became then a member of FIDUNION INTERNATIONAL which is a worldwide association of independent auditing, accounting, and consulting firms covering 35 countries, and he held held the positions of President of Fidunion Middle East & North Africa for an important period

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Joy Mouawad became a member of MIDSNELL GROUP INTERNATIONAL since 1998 MGI is a worldwide association on independent auditing, accounting and consulting firms covering 70 countries.

In order to explore his wide knowledge, education and expertise and to share them with others Joy Mouawad founded PAN ARAB PUBLISHERS which is a research center and publishing house whose main project is the production and publishing of a unique and a pioneer trilogy conceived and written by more than 100 professionals and experts, under the title of LEBANON ADVISOR.

In 2000, Joy Mouawad is elected the CEO of TOTALSERVE MANAGEMENT LEBANON s.a.l. Which is a sister company and affiliate of TOTAL SERVE MANAGEMENT CYPRUS. Its main activity is the international tax planning which include consultation and assistance.

Joy Mouawad is an active member in various unions and Alumni associations including the Lebanese Association of Certified Public Accountants and the Arab Organization of Auditors. He has attended and organized a number of international conferences in Europe and the Middle East dealing with economic and financial issues as well as taxing systems, audit and management.

Salim HADDAD

Salim Haddad joined Mouawad & Partners in 1996 as a Consultant Audit Partner. Salim Haddad has the experience and knowledge of various industries including banking , Insurance, advertising, financial institutions, contracting and real estate, governmental institutions, hotels and resorts, manufacturing and industrials institutions, non-profit organizations, service institutions, among others.

He started his career being an Audit Assistant at Touche Ross International (Now Deloitte and Touche) in the year 1977, and then he powered his knowledge by teaching accounting, computer programming and Financial Mathematics.

In the Year 1980, he held the position of a Senior Auditor at Grant Thorton International, and then he was promoted to an Audit Supervisor in the same international Company.

In the year 1985 he held the position of an Audit Manager at Arthur Andersen until the year 1988, the date of closure of Arthur Andersen in Lebanon due to the civil war.

Since the year 1989, he worked as a free lancer in the field of management and finance consultancy, mainly in the restructuring of businesses, including ISO implementation, financial restructuring, cost accounting, etc…

He attended several seminars with the most important firms of the field such as Deloitte and Touche, Central Bank of Lebanon, Arthur Anderson & Co, Bureau Veritas (ISO Internal Audit). Salim Haddad is a unique person due to his wide knowledge concerning various fields: accounting and Auditing, Administrative Management, Commercial operations, Computer Network Administration, Computer Programming, Conferences and Lecturing, Financial Administration, Financial

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Evaluation and assessments, Human Resources, Management Consultant, Marketing and Sales, Production, Teaching, Training and development, Websites Maintenance and Administration…

Georges BECHARA

Georges Bechara joined Joy Mouawad & Co as a partner from its first years he has been participated in the responsibility of handling the audit and finance issues at Mouawad & Partners.

Then he moved to be member of a challenging group of 10 organizations and being its chief accountant for 3 years. After that period and until now Georges Bechara is contributing in the perfect maintenance of all the Audit, Finance and Management affairs in MOUAWAD & PARTNERS. His areas of expertise cover financial and audit accounting, Tax audit and tax advisory services, IT consulting and management consulting. Georges Bechara is a member of the Lebanese Certified Public Accountants Syndicate- International Relations and he is a member of the Arab Organization of Certified Public Accountants. He is a Sworn Expert before Lebanese tribunals as well.

Paul ABOU HAMAD

Paul Abou Hamad joined Mouawad & Partners at the beginning of the year 2007 as an audit team leader, he has long experience in the field of auditing and accounting including he has international audit experience, due to his work with international audit firms such as Alexander Grant, and KPMG.

Paul Abou Hamad attended several seminars in the field of audit principles, audit planning, Taxation, etc…

Our Services We want you to succeed!

Mouawad & Partners targets first to make your business improve its external financial reporting and adapt to regulatory requirements such as International Financial Reporting Standards (IFRS). Our audit clients are numerous and various, however our audit is surrounded by our deep industry knowledge, wide international experience and global network of skilled professionals. Our services enable you to trust that your systems, processes and risk management procedures are operating effectively and within a well-controlled environment. We can lead you to the best ways for saving tax, improving your profitability, restructuring your entire business for its better.

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Financial Auditing Services

a) External Audit:

It has become a requirement for most business from small establishments to large corporations. External financial auditing is conducted in accordance with International Auditing Standards (ISA) taking into consideration local tax requirements. Such an audit includes the study and evaluation of internal accounting control and financial statements leading to an opinion on the financial position of the company. During the course of the audit, letters will be issued to management, whenever necessary, for the findings that need further analysis. An annual audit report will be issued at the closing of the financial year.

b) Permanent Audit:

The permanent Audit is based on day-to-day checking and evaluating especially the medium and small size companies’ fundamental activities concerning accounting transactions, technical financial assistance, tax planning, business consultancy and study of the organizational structures. We mainly focus on

Studying and updating your accounting system Making our staff work respecting our techniques as well as your software Offering you advices about some legislation and financial matters Assisting you on preparation of the tax returns and legal forms to be

presented to the Ministry of Finance and review the forms requested by the Social Security National Fund.

Auditing year-end balance sheet in order to present the financial situation of your company and to certify their reliability.

c) Special Audit:

Special Auditing and other investigations are carried out upon the special request of the owners or management of the company, typically to evaluate or investigate some specific areas of the business where the management wants to assure the proper performance and practice, such as special physical inventory count, Fixed Assets codification and numbering.

d) Tax Audit and Assistance:

We are specialized in tax auditing and assistance. The tax audit covers the review of all types of tax returns including Company’s Income Statement, Individual Taxes, Taxes on Salary, SSNF contribution etc… The tax audit also includes a review of the financial accountants to determine areas where taxes could be avoided in accordance with the Lebanese tax laws.

e) Internal Audit:

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The Internal Auditor supplements the work of the external auditor. It aims to determine the adequacy of internal controls by respecting the necessary procedures and regulations. We can assist our clients in improving their internal audit function by measuring the effectiveness of the current internal audit processes then advising them in order to improve respecting the newest internal audit methodologies. We also provide full or partial internal audit outsourcing solutions as well as we support the internal audit function with the most advanced software tools

f) Business-Oriented Audit, Reviews and Compilations:

In some situations, a company’s management might require to do a specific independent investigation on an area of its operation. Mouawad & Partners provides tailored audit applicable to the specific case. Such an audit is generally conducted on an hourly basis.

International Tax Planning & Compliance Services :

Mouawad & Partners provides consultancy services and planning to avoid or defer paying taxes in accordance with International Agreements. An experienced team of in-house experts with the assistance of independent Implementation is executed through our partner Totalserve. Traditional compliance services are offered in the individual, partnership, corporate, fiduciary, estate and gift tax areas. Mouawad & Partners is oriented towards tax planning services with particular emphasis in the corporate and transactional area, internationally and in local areas.

Business Plans and Budgets:

At Mouawad & Partners, we review a broad range of business procedures including management’s attitude towards financial reporting to understand management’s philosophy and operating style. Auditors assist companies in setting up budgets and profit planning structures necessary for planning and controlling operations. Ina addition, auditors assist clients in developing strategic business plans, creating responsibility accounting systems and procedures encompassing budgeting and variance analysis. Many such clients respond favorably to the cash flow forecasting suggestions made by auditors after their review of cash management techniques

Acquisitions, Mergers and Joint Ventures:

Our practical experience and business contacts enable us to provide the necessary advice for successful transactions. Whether you are buying, selling or merging a business, planning is the key to achieving your goals. Mouawad & Partners assists companies in successfully negotiating the complexities of mergers and acquisitions. We manage the process seamlessly, of working

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closely with your lawyers and bankers to execute a cost and tax-efficient conclusion to the transaction. We help perform Due Diligence & Internal Audit. Also, we help evaluate proposed structures, or provide recommended structures to accomplish the mergers or combinations desired. Mergers and other joint ventures are occurring at a faster rate than ever before. Again, tax reduction is a major component, but we would like to stress that we focus on the complete business picture.

Management Consultancy Services:

In management consultancy we assist our clients in various tasks. Starting from taking major decisions in their business, to the review of the application of management instruction, to the review of the Management Information System, (The Intranet) etc… also it mainly includes the assistance in any Organizational and Management Development.

Few high-performing firms are successfully redefining finance’s role to meet the decision-support needs of senior executives. Mouawad & Partners will be of help to senior management in providing the information and analysis needed to formulate and execute business strategic leading to corporate success.

Information Technology and Computer Systems:

In this new age of the information computerizing is a key of success. IT assistance is the future of the accounting profession. We no longer live in a world where company dynamics and financial state can be determined without the use of computers. Not only IT assistance ads security, reliability and accuracy to information systems but it plays a major role by making our time more precious because of the fact that it saves time as soon as it’s computerized. Securing transactions over the Internet and protecting our identities online would be impossible without the use of IT assistance. Although still unknown to many, IT assistance will play a major role in supporting the rapidly changing nature of business transactions.

For that reason we always go for innovation in Mouawad & Partners; we are in a continuously learning and developing the knowledge of our business and the expertise of everyone in it in a sort to be always involved in the best audit solutions.

Our business is very much technology driven, using the latest tools and technological capabilities to provide the best service possible to our clients.

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Our Network Mouawad & Partners is a member of the Worldwide Association of Independent Auditing, Accounting and Consulting Firms.

Through its wide experience and contacts in the auditing business, Mouawad & Partners has established its own network of auditing firms over the years in the Middle East and North Africa region, Europe and the United States. The firm’s network ensures top quality services from a wide range of industry experts located in diverse locations. Our network has traditionally been a source of trust and ultimate customer satisfaction.

In addition we are effective members of IAPA “International Association of Professional Advisors which is a co-operation medium sized chartered accountants firms having many European members. It’s a global association of independent accountancy firms providing a full range of quality professional services to clients with international needs, implemented in more than 45 countries. We represent IAPA in the Middle East Region.

IAPA's successful operation network is founded upon the strength of professional and personal contacts that have developed between partners and staff across national and regional boundaries. It always seeks to promote these contacts by holding regular conferences and specialist events at global, regional and national levels which offer to the member firms an informal opportunity to exchange information and ideas, to discuss professional issues…

Partners and Associates Over the years, Mouawad & Partners has interacted with a number of companies in areas closely related to its core competencies resulting in long term business relationships based on professionalism, integrity and transparency.

Totalserve

Totalserve is an international tax and trust consultancy company established in 1972. Totalserve group now has its own offices in Athens (1995), Thessaloniki (2001), London (2002), Bucharest (2002) and Moscow (2003). The management consists of a multi-disciplined team of accountants, lawyers, tax and business consultants supported by a global network of associates in specialized related fields. Mouawad & Partners cooperates with Totalserve on issues related to the implementation of International tax planning ensuring the best possible service to our clients.

BEETEC

BEETEC (Bureau d’Etudes et d’Entreprises Techno-Economics): BEETEC was founded in 1985 and provides a wide range of services ranging from construction surveys to services and personnel rental. Mouawad & Partners cooperate closely with Beetec to provide innovative workforce solutions to companies of all sizes to meet the challenges of today’s changing business environment. In business, people

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are the greatest asset. Behind every great vision, great brand and great service are the numerous individuals who deliver on the promise. We offer Temporary services to fit your needs in the most efficient way and take care of the legal and administrative issues allowing you to focus on your core business. Indeed BEETEC is specialized in all business formalities, including company establishment, administrative proceedings, Tax clearance and tax formalities. BEETEC has specially a complete outsourcing program designed to help its client efficiently manage the peaks and valleys of personnel demand requirements on a project-by-project basis without carrying the burden of payroll during non-revenue producing periods and to dispatch resources on a Just-in-Time basis. BEETEC also assists its clients to manage their staffing needs to free their internal resources to focus on their business without the added worry of locating highly and professional personnel.

We should mention that BEETEC is an exclusive representative of SOGREAH –France which is specialized in maritime structures, maritime activities and breakwater armoring for ports and terminals. SOGREAH invented and developed the single-layer protection techniques since the end of the 1970’s. A licensing contract is signed for each project in Lebanon by BEETEC.

PAN ARAB PUBLISHERS

Because we are sons of tourism and folklore, we aim to improve our country by launching efficient business which will seduce the biggest investors!

Pan Arab Publishers is a research center and publishing house, its main project was the production and publishing of a unique and a pioneer trilogy conceived and written by more than 100 professionals and experts as LEBANON ADVISOR.

It contains all what you’ve ever wanted to know about Lebanon and you’ve have trouble finding. It has 3 main sectors: Lebanon Investment Advisor, Lebanon Business Advisor and Lebanon Tourism Advisor in three different languages (Arabic, French, English) in cooperation with Mouawad & Partners. Lebanon Advisor is a unique and comprehensive collection of data, figures and economic indicators.

Lebanon Investment Advisor combines a description of the current legislations and regulations, as well as analysis of up-to-date facts and figures. It offers precious information on the best investment

Lebanon Business Advisor is a work of reference destined to foreign investors and to national executive managers wishing to gain an accurate insight on Lebanon’s branches of activities and main firms.

Lebanon Tourism Advisor will take you to a dazzling journey through Lebanon’s trifling yet characteristic stories, its historically rich monuments and glittering nightlife- revealing all the ingredients that form the country’s magnetism.

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Portfolio of Clients Over the years, Mouawad & Partners has served a large number of clients in various industries. Our commitment to excellence resulted in an increasing client base. The list below is only an indication of the diversity and caliber of our clients.

Company Name Industry Location Alcatel Telespace Telecommunication Engineering France Alph-Tech SARL Medical Supplies Lebanon AM Financials SAL Financial Institution & Private

Banking Lebanon

Austrian Embassy Diplomatic Austria Bartercard Group International Trade Exchange Australia Camusat Telecommunication Engineering France Color City Food And Beverage Lebanon D.S.L. Factory Mall Lebanon Doka Agent of Construction Equipment Austria Emporio Bejjani Trading of Clothes Lebanon Hanna Frères Jewelers Lebanon Hayek Hospital Medical Hospital Lebanon Lebanese Broadcasting (LBC SAT)

TV Broadcasting Pan Arab

Midalog Accessibilities SAL Equipments and software applications for the visually impaired people

France, Lebanon, Pan Arab

National Group Consultants Internet Service Provider England PAC (Sister Company of LBC SAT)

Multimedia Production Cayman Island

Pierre Fabre Cosmetics France Produit Pétroliers et Divers Oil Industry England Site Technology Group Electrical Engineering and

Contracting Lebanon, UAE, Qatar

SOMECO SCANIA Heavy Equipment and Trucks

Lebanon

Ukrainian Airlines Airline Ukraine

Contact Information For more information please contact us at the following coordinates: Medawar, Papinianos Street, Kassab Building, Fifth Floor P. O. Box 175-577, Beirut – Lebanon Telephone: 961-(0)1 570057 Fax: 961-(0)1-563020 Email: Conctact@mpmouawad.com