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PKF Jordan and Kurdistan PKF ProGroup
PKF Khattab & Co.
PKF Planning Tax Advisory
PKF Human Resource Consulting
Contact Us:
PKF Kurdistan
Kurdistan - Iraq
Website: www.pkfkurdistan.com
Email: [email protected]
Tel: +9647508829873
Fax: +96265606344
PKF Jordan
Amman - Jordan
Website: www.pkf.jo
Email: [email protected]
Tel: +962 6 5695442/ 3
Fax: +962 6 5606344
Newsletter Quarterly Newsletter | Q1 2015
PKF Jordan and PKF Kurdistan are member firms of the PKF International
Limited network of legally independent firms and do not accept any
responsibility or liability for the actions or inactions on the part of any other
individual member firm or firms.
April 2015: Jordan in Numbers
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
Inside this Issue
1 PKF Jordan Celebrates 25 Years of Excellence
2 April 2015: Jordan in Numbers
3 PKF ProGroup Consulting Major Contracts
4 PKF Khattab & Co. Major Contracts
5 PKF Planning Tax Advisory Major Contracts
6 PKF Human Resource Consulting Major Contracts
7 About Us
2
PKF Jordan Celebrates 25 Years of
Excellence
3
The year 2015 marks the celebration of PKF Jordan’s 25th
anniversary of operations and services in Jordan, the
region and globally. Since the establishment of PKF Jordan by
Mr. Mohammed Khattab in the year 1990, we have been
assisting clients in solving their most demanding issues and
overcoming their major challenges. We have worked as an
integral part of the business environment offering services
such as assurance and advisory, tax consulting, corporate
finance consulting, management consulting, human resource
consulting and more to our clients in the country and abroad.
Our team has grown along with our experience in the market.
In the past 25 years, we have accomplished an outstanding
record of successfully collaborating with more than 1,800
clients in 35 countries across the globe and executing
more than 2,000 projects. Our clients have ranged from
governmental and non-governmental organizations, small and
medium enterprises and large national and multinational
organizations.
PKF Jordan has experienced many highlights in the past 25
years. Thought-out the past years and as part of PKF
Jordan's strategy of providing global-level services and
expertise based on local knowledge, PKF Jordan has
successfully launched multiple dedicated services lines such
as Tax Consulting, Corporate Finance Consulting, HR
Consulting and others.
We are extremely grateful to all our client who have provided
us with the opportunity to work with them and proud to have
our commitment to our clients established, and we hope to
strengthen it further over the coming years.
25 Years (1990 – 2015)
35 Countries
More than1,800 Clients
More than 2,000 Projects
PKF Jordan and
Kurdistan PKF ProGroup
PKF Khattab & Co.
PKF Planning Tax Advisory
PKF Human Resource
Consulting
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
3.96 Million
4.16 Million
3.95 Million
4.05 Million*
2011
2012
2013
2014
April 2015:
Jordan in Numbers
4
Population
6,675,000
48% 52% 2.2%
Economy
Tourism
47%
27%
14%
6% 5%
1%
Arab Countries Jordanians Residing AbroadEurope AsiaAmerica Africa
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015 *: Forecasted Based on
Sep 2014 Figures
PKF Jordan signed an agreement with King Hussein
Business Park to render financial consultancy
services for a proposed hotel project within KHBP.
The service will also include a set of financial
consultancies including the development of the
financial model for the hotel, the term of reference
for the operation of the hotel, and the selection
criteria matrix that will be used during the invitation
of hotel operators.
King Hussein Business Park is a Non-Governmental
Organization.
King Hussein Business Park is a business center
that provides the modern platform for startup
businesses. KHBP have succeeded in attracting
large global companies to start their regional
operations from within the business park.
KHBP is currently studying the
development/transformation of one building into a
three/four star hotel. The hotel will be another
investment in KHBP’s quest for profitability and
sustainability.
PKF Jordan signed an agreement with Al IMDAD, a
subsidiary of INVESTBANK, to render feasibility
study service for a proposed acquisition of a
.
Al Imdad
PKF ProGroup Consulting Major
Contracts
5
King Hussein Business Park
warehouse Including the following:
1) The verification of market assumptions provided
from Al IMDAD.
2) Verify technical aspects related to the
operations of the new warehouse
3) Generate the financial model with all related
projections and ratios. The promised service will
then aid Al IMDAD in the decision making process.
Al IMDAD is a Private Shareholding Company,
established in Jordan to meet the growing need for
a financial company specializing in trade financing
and supply chain logistics. Their supply chain
financing services ease and facilitate trade,
providing a means for SMEs and large
corporations to grow and expand at acceptable
rates. Their unique business model allows for
traders and manufacturers, importers and
exporters, to benefit from their trade financing and
supply chain logistics services.
Sardar Group - Iraq
PKF Jordan signed an agreement with Sardar
Group in Iraq to render internal audit services to
three of the groups companies, namely:
- SAS Automotive Services
- Sardar Trading Agencies
- Sardar Automobile & Machinery Trading
Company Ltd
Sardar Group is an Iraqi investment group that was
established in the early 70's in Iraq's northern city
of Kirkuk. With ten companies inside Iraq, two
companies in Jordan, and one in UAE, as well as
two Real Estate investment companies in Canada
and Australia The group covers various business
activities related to General Trading, Leasing,
Vehicles, Equipment, Machinery Trading &
Servicing, Real Estate, and major Infrastructure
Projects.
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
PKF ProGroup Consulting Major
Contracts
6
State Audit and Administrative Control Bureau
Funded by the European Commission
PKF Jordan signed an agreement with the European Commission to extend the institutional
strengthening of the State Audit and Administrative Control Bureau in Palestine project for another 3
years, the project was originally signed in 2011 which extended, as an initial term, between the years
2011 and 2014.
The aim of this project is to strengthen the institutional and internal audit capabilities of the Palestinian
State Audit and Administrative Control Bureau. This project is funded by the European Commission (EC)
represented by the EC Technical Assistance Office for the West Bank and Gaza Strip.
The consultancy services comprised of:
• Imparting international best practice audit experience and hands on/ practical skills to SAACB auditors;
• Familiarizing auditors with the practicable implementation of INTOSAI requirements;
• Supporting junior auditors with their staff training;
• Regularly accompanying and supporting more junior managers and audit staff on their regular site visits
to the field with clients through on the job training;
• With the support of KE1 and KE2, developing audit methodologies, programmes and work papers, and
design and implement the staff training plan;
• Having direct and day-to-day interaction with the SAACB audit teams so as to provide on-going on-the-
job training and support their allocated teams; and
• Being responsible for liaison with SAACB and local institutions.
The State Audit and Administrative Control Bureau is a Governmental Organization established as said
by provisions of the Palestinian Basic Law and has its own independent juristic personality and full legal
capacity that enable it to perform the as-signed duties.
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
PKF Khattab & Co. Major Contracts
7
Jordan Aviation
PKF Jordan signed a contract with Jordan Aviation
to render financial services.
Jordan Aviation Company is a Private
Shareholding Company.
Jordan Aviation is a modern, growing and
progressive Airline with 700 staff members, the
Sister Companies employ another 150 staff
members.
JAV aims at providing a large range of charter
services and scheduled flights to a wide range of
regional and global destinations giving the best
value for money, safe and reliable flights to its
customer.
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
Marseilles Real Estate Investment
PKF Jordan provided external audit for Marseilles
Real Estate Investment.
Marseilles Real Estate Investment owns an
operates Irbid City Center. The 87,000 square
meters mall features over 250 international &
local brands, including department stores,
fashion, lifestyle, sports, electronics, home
furnishing stores and the largest hypermarket in
the country.
Zait & Zatar Super Stores
PKF Jordan provided external audit services for
Zait & Zatar Super Stores.
With an online based shopping platform and four
stores, Zait & Zatar Super Stores provide grocery
and home supplies delivery services to their
customers in Amman. Zait & Zatar Super Stores
Company is a Limited Liability Company.
Jordanian Lebanese Company for
Laboratory Instruments
PKF Jordan provided external audit for Jordanian
Lebanese Company for Laboratory Instruments.
Jordanian Lebanese Company for Laboratory
Instruments is a Private Shareholding Company.
Jordanian Lebanese Company for Laboratory
Instruments was established on 16th Jan 2012 in
the Hashemite kingdom of Jordan under the No.
(862) as a subsidiary of the Lebanese firm and it
specializes in the following :
• Trade lab reagents
• Import and Export
• Wholesale trade in laboratory devices and
scientific
• General Trading
• Retail in laboratory devices and scientific
PKF Planning Tax Advisory Major
Contracts
8
Maani Ventures
PKF Jordan provided tax consultation to a
number of Maani Ventures companies,
namely:
• Specialized Wood Est. LTD
• Al-Reyadia Lil A’mal Al-Istithmaria
• Maani & Partners Furniture Co
• Maani Prefab
• Modern Company for the Manufacturing of
Mobile Structures
Maani Ventures is one the leading groups in
Jordan in the fields of construction and
furniture. Maani Ventures has developed and
expanded its businesses since its
establishment in the mid, splitting into two
main entities, Construction and Furniture, the
core divisions of Maani Ventures
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
Hyder Consulting Overseas
Co.
PKF Jordan rendered tax consultancy services
for the Company.
Hyder Consulting is a limited Liability
Company established in the United Kingdom.
It is a multi-national design and engineering
consultancy renowned for working on some of
the world’s most iconic buildings and
structures. These include Sydney Harbour
Bridge, Tower Bridge in London and the
world’s tallest building, Burj Khalifa, in Dubai.
Their work is characterized by the highest
standards of engineering and design, a
reputation for innovation and results that stand
the test of time.
Hyder has a long and enviable pedigree and
can trace roots back more than 150 years in
Europe, over 100 years in East Asia, 70 years
in Australia and almost 50 years in the Middle
East.
Hyder Consulting’s vision is to be the next
evolution in design engineering and
consultancy, keeping them ahead of
competition.
Roche Bobois
PKF Jordan rendered accounting and tax
services to Roche Bobois.
Roche Bobois is a Limited Liability Company
registered in Jordan. It has an international
brand name of luxurious furniture.
Roche Bobois furniture has a unique character
inspired by multiple personalities, the
personality of the creator who designs it, with
his sense of talent and ingenuity and your
personal touch of freedom and creativity. The
Company provides the following services:
1. Interior Designing Services
2. Financing
3. Warranties
4. Maintenance Guide
5. Wedding Registry .
Jordan Islamic Bank
PKF Jordan rendered income and sales tax
consultancy services for Jordan Islamic Bank.
Jordan Islamic Bank was established in 1978
as a Public Shareholding Limited Company to
carry out all kinds of Banking, Financing and
Investment Business Operations in compliance
with the Islamic Sharia’.
PKF Planning Tax Advisory Major
Contracts
9
.
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
Credit Card Services Co.
PKF Jordan rendered income and sales tax
consultations to the Company.
Credit Card Services Co. is a Limited Liability
Company.
CSC was incorporated in 1992 with the specific
intention of servicing the card needs of banks
in an efficient, dedicated, and cost effective
manner.
The Company offers financial institutions a
complete turnkey solution that spans the entire
electronic payment business spectrum.
Zad Jordan for Investment &
Trading Co. (Jiwar Mart)
PKF Jordan rendered tax consultation for Zad
Jordan for Investment & Trading Co. (Jiwar
Mart)
Zad Jordan for Investment & Trading Co. is a
Private Shareholding Company. Having
several retail branches around Amman,
Jordan, Zad Jordan for Investment & Trading
Co. is specialized in food retailing, including
vegetables and fruits, as well as beverages
retailing.
Dima Solutions
PKF Jordan rendered accounts preparation
and tax services for Dima Solutions Company.
Dima Solutions established in the year 2004, it
is a leading in technology services provider,
delivers a broad portfolio of information
technology and business process
management services from IT strategy setting
and consultancy to comprehensive
deployment of IT or business functions to its
customers from diverse industries.
Dima Solutions specializes in delivering
Enterprise Management solutions that enable
businesses to cut cost, lower risks associated
with services delivery and support, and
maximize Return of Investment (ROI) of any IT
environment for customers.
ISASTUR, Ingeniería y
Suministros Asturias S.A.
PKF Jordan rendered tax consultation for
ISASTURIngeniería y Suministros Asturias
S.A
The Company is involved in the construction of
power plants (Combined cycle plants,
conventional power plants, hydroelectric
plants, cogeneration plants, etc.), high voltage
substations and power lines, covering various
activities such as engineering, equipment
supply, electrical and instrumentation
assembly, as well as installation
commissioning and maintenance,
Also the Company is involved in renewable
energy with “turnkey” projects involving wind
farms, photovoltaic plants, as well as solar
thermal, biomass and cogeneration plants.
.
PKF Human Resource Consulting
Major Contracts
10
INJAZ
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
PKF Jordan has signed an agreement with INJAZ
for conducting a study of entrepreneurship and
employment statistics on female beneficiaries that
have graduated from universities and community
colleges and compare the study results with
available related national figures.
PKF Jordan will collect data from a random sample
of former INJAZ female students who completed
INJAZ university programs and have since
graduated from university. The programs are
related specifically to entrepreneurship, self-
employment, and hands-on job training. They
include but not limited to the Company Program,
the Social Leaders Program, the Leadership
Course, and the Be Entrepreneurial Program.
INJAZ is a Non-Governmental Organization,
launched in 1999 with a mission to inspire and
prepare young Jordanians to become productive
members of the society and succeed in a global
economy. Since then, INJAZ has largely grown
and expanded its outreach to touch hundreds of
thousands of lives across the Kingdom through
various programs
INJAZ is ultimately seeking to assess the impact of
its programs on female employment and
entrepreneurship through comparing its own
female graduates’ employment statistics with
national figures.
PKF Human Resource Consulting has been pre-
qualified to provide Organizational Development
and Human Resources advisory services to
beneficiary micro, small and medium sized
enterprises through projects supported by the
European Bank for Reconstruction and
Development (EBRD).
EBRD programs provide SMEs with advice and
grants for consulting projects in different areas;
including Human Resources, Marketing,
Strategy, Quality Management, Energy
Efficiency.
Throughout the consultancy projects, we (PKF
Human Resource) work with clients aiming at
reducing operational cost, increasing productivity,
reducing risks and enhancing corporate and
individual performance.
Further information regarding our specialized HR
services can be found in our services profile:
PKF Human Resource Consulting Services
Profile
For advice on how you can secure a grant for
your organization development consultancy
services please contact us at:
Tel +962 6 5627129
Zeena Al Natour
PKF Human Resource Consulting
provides advisory services to SMEs
through projects supported by the
EBRD in Jordan
Our team approach enables operating as integrated cells exposed to diverse industries. Words like
creativity, innovation and flexibility generate great success within the firms’ services and culture, where
PKF Jordan and PKF Kurdistan promise of quality, accuracy, speed, and value remain applicable in all
deliverables. Relying on PKF Jordan and PKF Kurdistan beliefs makes our caliber professional. And
experiencing our services makes clients distinguishable.
PKF Jordan and PKF Kurdistan services are designed to look after the best interest of the clients and
protect their wealth. Our advisors thoroughly investigate the organization’s business cycle to innovate
the most rewarding solutions.
Our Vision:
To be number one preference for companies in their selection of professional advisors.
Our Mission:
To assist our valuable clients upgrade their business performance and efficiency and help them gain
competitive advantage for their business to succeed and excel.
Areas of experience include Finance, Taxation, Market
Research, Strategic Planning, Organizational Development,
Human Resource Development, Investment, Technology
and Information Management, Quality Management, and
Socio-Economic Studies. We also initiate an added value
component where integration, consistency and reliability are
effectively enforced. PKF Jordan and PKF Kurdistan high
quality services help clients identify their business needs,
improve, excel, cope with business fluctuations and
accomplish their anticipated goals and excel.
PKF Jordan and PKF Kurdistan, member firms of PKF International, are regional, multidisciplinary
business advisory firms with industry specific services. We offer outstanding opportunities, by providing
international standard based services, to dramatically position our clients as pioneers in a rapidly
growing business environment. PKF Jordan and PKF Kurdistan play a major role in business advisory
including Consultancy, Auditing, and Tax Services.
About Us
Contact Us:
11
PKF Network Worldwide Around 50 years of experience
21,000 people
440 offices
125 countries
US$ 2.6 billion turnover
Top 10 assurance & advisory
firm worldwide
PKF Kurdistan
Erbil - Iraq
Website: www.pkfkurdistan.com
Email: [email protected]
Tel: +9647508829873
Fax: +96265606344
PKF Jordan
Amman - Jordan
Website: www.pkf.jo
Email: [email protected]
Tel: +962 6 5695442/ 3
Fax: +962 6 5606344
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015
Assurance and Advisory
• Statutory audit
• Accounting services
• Non-statutory audit
• Compilation of financial statements
• Assurance engagement and Internal audit
• Business risk services
Tax Consulting
• Tax planning and tax manual
• Income tax
• Sales tax
• Withholding tax
• Employee’s tax
Corporate Finance
• Privatization and Build - Operate - Transfer
(BOT) services
• Private placement memorandum
• Business plans
• Finding and securing finance from the most
appropriate sources (such as private equity
firms)
• Business valuations
• Preparation of financial projections and
financial cash flow forecasts
• Investment agent
• Due diligence
• Feasibility studies
Forensic Accounting
• Appraisal of financial losses resulting from
fraud
• Appraisal of damage resulting from prejudicial
acts
• Preparation of expert opinions and second
opinions
• Assisting solicitors in the financial aspects of
cases
• Intervention as arbitrators or mediators in
dispute resolution
Umbrella Services
Financial Planning
• Retirement planning
• Savings and investments
• Business assurance
About Us
12
IT Consultancy
• Business process design
• Disaster recovery planning
• Managing Information Technology
(IT) expenditure - budgeting and control
• Packaged software / Enterprise Resources
Planning (ERP) selection and implementation
• Information Technology (IT) policies and
procedures development
Management Consultancy
• Strategic planning
• Risk - measurement strategies, risk
management plans and crisis handling
• Institutional assessment and upgrading plans
• Marketing and market communication plans
• Market studies, research and surveys
• Customer satisfaction programs development
• Financial policies and procedures including
procurement, accounting, and budgeting
• Corporate governance manuals
• Costing systems
• Internal audit manuals
• Operations manuals
Organizational Development and Human
Resources Service
• HR strategy articulation & formulation
• Organization design and development
• Competency based Human Resources
Management (HRM)
• Workforce planning strategies, talent
acquisition & retention
• Selection design, assessment / development
centers
• Retention strategies
• Jobs and roles analysis and descriptions
• Compensation system design and total
rewards
• Salary surveys
• Payroll outsourcing
• Training and capacity building
• Competency dictionary development
• Leadership development
• Needs assessment
• Performance management
• Succession planning
• Career path planning
PKF Jordan & Kurdistan deliver a full spectrum of services:
PKF Jordan and PKF Kurdistan Newsletter | Quarter 1| 2015