CLIENT CONTEXT

A leading company in the diamond trading sector was at a point where increasing regulatory demands and the complexity of its financial operations required greater rigour, consistency and reliability in accounting management. The company recognised the need to strengthen the technical capacity of its Finance and Accounting Department, ensuring all accounting, tax and reporting processes were executed with precision and in compliance with applicable sector standards.

CLIENT CHALLENGE

The company faced significant challenges related to the volume and complexity of its accounting records, the need for rigorous periodic closings and the preparation of financial statements aligned with Public Enterprise sector legislation. Accounts payable and receivable management required frequent and detailed reconciliations, while the audit process demanded specialist technical support. The lack of sufficient internal resources made the presence of a dedicated, highly qualified technical team essential.

THE ID SERVIÇOS SOLUTION

The engagement began with the allocation of three technical consultants on an on-job basis, responsible for the full recording of accounting and financial transactions in the SAP FI, CO and MM modules. Direct technical support was provided during audit reserves associated with year-end account closings, ensuring procedural compliance. The work included quarterly reconciliations of accounts payable and receivable, preparation of financial statements for quarterly interim closings, and monthly bank reconciliation reviews. The engagement also covered the review of Annual Reports and Accounts and the organisation of withholding tax documentation, in accordance with Law No. 19/14 (Industrial Tax Code).

BUSINESS IMPACT

The company gained a more rigorous, structured accounting management process aligned with sector requirements. The presence of specialist consultants accelerated processes, reduced errors and improved the reliability of financial information. Quarterly closings were completed with greater predictability and quality, strengthening the reporting capacity and decision-making of the Finance and Accounting Department. Thorough audit preparation, combined with consistent reconciliations and tax compliance, contributed to a more secure and transparent operation.