Gore Accountants and Business Advisors



Client Service Examples

Specific examples of advices and special reviews that individual GABA team members had significant contributions in their previous employments and current employment with GABA include the following:


Air-Energi (PNG)
  • Salary packaging tax advice
Airways Group
  • Stamp duty advice and assistance
ANZ PNG
  • Accounting advice on lease classification
Ausbuild (Australia)
  • Accounting advice on construction services and property development, borrowing costs and hedge accounting (interest rate swap contracts)
  • Process/ internal control improvements
Bank South Pacific
  • Accounting advice on lease classification, half year interim tax reporting and consultancy cost
  • Tax effect accounting computation for BSP Group (including foreign branches)
  • Review of fixed assets manual
Consolidated Rutile (Australia)
  • First time implementation of IFRS 7 Financial Instruments – Disclosures
  • Advice on dividend payments in accordance with Corporations Act 2001
  • Accounting advice on revenue recognition (bill and hold sales), mine restoration and rehabilitation costs, deferred income tax, impairment and share-based payments
  • Process/ internal control improvements
Emperor Gold
  • Financial due diligence of DRD interests in Porgera Joint Venture and Tolokuma Gold Mine
Farmset
  • Inventory review to investigate significant inventories discrepancies and recommend remedial actions and other internal control improvements
  • Accounting advice on investment properties
Handy Finance
  • Business planning and financial projections
  • Regulatory advice on Bank of PNG Prudential Standards
Hidden Valley JV
  • Advice on industry practices on the royalty calculation, regulatory compliance and administration
HIH Insurance
  • Accounting assistance to update 10 months accounting records to reconcile the accounting records to the insurance underwriting records
Hugo Canning Company
  • Financial Controller secondment, including the implement of Inventory Management, Product Costing and Fixed Assets on the SYSPRO system
Independent Public Business Corporation
  • Income tax and training levy return preparation
Inter-Oil
  • Accounts receivable review systems and process and make recommendations for effective management of accounts receivables
Inter-Pacific Resort (Australia)
  • Accounting advice on non-current assets held for sale/ discontinued operations
  • Profit improvement review
  • Advice on Corporations Act 2001 and ASIC requirements for audit and lodgement of statutory accounts for foreign owned subsidiaries
  • Process/ internal control improvements
Kokoda Track Authority
  • Finance & Administration Manager secondment, managed financial operations including budget preparation, monthly financial reports, implement new system (MYOB), develop a Fixed Assets Register and drafting the accounting policies and procedures manual
National Petroleum Company PNG
  • Draft the procurement and accounts payable policies and procedures
Kumul Hotels
  • Process/ internal control improvements
Lamana Group
  • Tax clearance
Lihir Gold
  • First time implementation of IFRS 7 Financial Instruments – Disclosures
  • Advice on ASIC requirements for lodging consolidated statutory accounts
  • Advice on inventory valuation practices in the mining industry
  • Advice on remuneration report disclosure requirements of ASIC and ASX
  • Process/ internal control improvements
NASFUND
  • Accounting advices on valuation of dual listed investments, classification of investment in property companies and the applicability of consolidation
National Development Bank
  • Investment justification applying cost-benefit analysis
  • Company-wide risk assessment
  • Transform internal audit approach from 'traditional compliance' to 'risk based'
  • Process/internal control improvement, including drafting policies and procedures manual
New Hope Corporation (Australia)
  • Accounting advice (including tax effect accounting) on the structuring of group share options scheme for employees, accounting for expenditures for exploration for and evaluation of mineral resources and reserves, development expenditures, business combinations and classification of investments
  • Process/ internal control improvements
Ok Tedi Mining
  • Accounting advices on feasibility study costs, costs of environment restoration and rehabilitation, leases, capital expenditure, asset impairment assessment, exploration expenditures and foreign currency translations
  • Report to Inmet Mining on the application of IFRS by OTML
  • Advice on captive insurance (“self insurance”)
  • Process/ internal control improvements, include preparation of financial policies and procedures manual.
Pacific Balance Fund
  • Review of another auditor’s audit report, particularly the qualifications in the audit report and provide a factual report (“second opinion”)
PNG Microfinance
  • Entity-wide risk assessment
  • Post IT systems implementation review
  • Process/ internal control improvements
PNG Ports Corporation
  • Cost benefit analysis
PNG Sports Federation
  • Preparation of high level budget estimates for the 2015 Pacific Games Bid for Parliament approval
PNG Sustainable Development Program Group (PNGSDP)
  • Advice on the effect of share buy-back by Ok Tedi Mining Limited on PNGSDP.
  • Advice on the Group Restructure involving step acquisition, change of immediate parent and transfer of business operations and joint ventures.
  • Accounting advice on consolidation of 7 entities in 2 countries and foreign currency translation, classification and valuation of investments, business combinations, impairment, implications of significant contracts and agreements, derivative financial instruments, leases and expenditure capitalisation
  • Financial analysis and review of profit and cash flow projection for an investment opportunity
  • Financial due diligence of Ok Tedi Development Foundation Microfinance (now PNG Microfinance)
  • Valuation of Cloudy Bay Sustainable Forestry for impairment assessment purposes
  • Group wide risk assessment review
  • Certification of Joint Venture (JV) expenditures for payment by JV partner in relation to the Daru Port JV
  • Verification of Joint Venture Partner’s exit settlement claim in respect of PNG Sustainable Energy
  • Tax effect accounting
  • Advice on tax residency of PNGSDP
  • Draft risk-based internal audit plan
  • Draft internal audit charter
  • Process/ internal control improvement, including drafting policies and procedures manual
  • Business continuity planning
Porgera Joint Venture (PJV)
  • Financial & Taxation Accountant, including review of accounting and administrative policies and make recommendations for improvement, implementation of GST and tailoring of system to accommodate tax change at PJV when introduced in 2001 and training of PJV staff on GST,
Rubicon Point
  • Company secretarial services
Queensland Investment Corporation (Australia)
  • Accounting advice in relation to a complex investment structure comprising 29 entities in 4 countries for investment worth A$650m (transaction included investment in associates, joint ventures, subordinated loan, variable and fixed interest rates, interest rate swap contracts and investment properties)
  • Accounting advice on functional currency and foreign currency translation
  • Assistance provided in respect of consolidation and tax effect accounting
  • Prepare an accounting manual
  • Prepare an audit file in respect of the investment for external auditors (KPMG Australia)
  • Provide technical accounting input in the implementation of a new system (Technology One) to automate the consolidation process
Porgera Landowner Companies
  • Accounting services to four main landowner companies
  • AccPac systems set-up for three landowner companies
  • Manage tax credit schemes and infrastructure development projects
Southbank Institute of Technology (Australia)
  • Accounting advice on lease classification (Private Public Partnership Program)
St Laurence’s College (Australia)
  • Accounting advice on lease arrangement involving non-cash transactions (barter)
Steamships Merchandise Division (now Stop 'n' Shop)
  • Review of systems and controls at the retail shop level over cash receipting, banking, inventory transfers, goods receipting and daily inventory counts
Training/ Courses
  • Investment Valuation & Disclosures
  • Tax effect accounting
  • Introduction to mining industry (accounting perspective)
  • The effects of changes in foreign exchange rates
  • IFRS update
  • Audit committee seminar
  • Accounting for directors, managers and non-accountants
  • Accounting fundamentals
Treasury Department
  • Review and certification of government expenditure for funding under the EU sponsored Structural Adjustment Program
UMW Niugini
  • Financial controller secondment, including cash flow management, bank facility application and liaison with commercial banks, review of monthly management accounts reporting to head office in Malaysia and month-end close and reporting process improvement
Western Highlands Provincial Government
  • Accountant and Acting Provincial Treasurer
Woodlark Mining
  • Accounting advice on exploration and evaluation expenditures, functional currency, business combination and impairment assessment
  • Financial statements preparation
  • Implement fixed asset inventory management systems