FJS has been appointed as the external auditors of the Sanitation Project in 5 Islands for the years ended 31^st December 2016, 2017, 2018 and 2019.

The contract was signed between FJS Associates and the Ministry of National Planning, Housing and Infrastructure on 14^th November 2019.

The Project amounting to total USD 18 million is executed and implemented by the Government of Maldives (GoM), and is funded by Islamic Development Bank (IDB). The project is financed by IDB for an amount of USD 15.0 million and GoM for an amount of USD 3.40 million.

The main objective of the Project is to improve the quality of life of the population in the five selected islands

• K. Himmafushi

• H Dh. Nolhivaranfaru

• Lh. Naifaru

• K. Thulusdhoo

• Th. Veymandoo

FJS concludes developing the 5-year business plan and corporate policies for the establishment of SME Development Finance Corporation (SDFC), the SME Bank of Maldives fully owned by the Government of Maldives. The project was spearheaded by the Ministry of Economic Development with the aim of easing access to finance for SMEs and entrepreneurial start-ups with a vision to achieve inclusive and rapid economic development. The engagement included setting up the vision, mission and strategic goals of the Organization as well as developing key policies and procedures such as loan evaluation and credit manual, lending and recovery plan, risk management policy anti-money laundering policy and HR management manual and procurement policy.

FJS concludes the Systematic Country Diagnostic (SCD) consultation for the World Bank Group in Maldives. The SCD is an evidence-based study which intends to inform the policy debate in Maldives and serve as an input to the World Bank Group’s program of engagement with the Government of Maldives. A number of focus group discussions were conducted engaging over 120 participants representing a wide spectrum of stakeholder groups, including government agencies, development partners, the private sector, civil society organizations, academia, the media and women, youth and citizen groups, in central, northern and southern region of Maldives. The consultation process also included implementing a structured survey to capture opinions of participants representing key stakeholder groups with regard to development needs and challenges of Maldives.

The Project involved appraising the efficiency and effectiveness of the business focusing on financial performance, operational performance, organizational structure, financial management and marketing operation. Following the appraisal, FJS proposed ways for improvement in these areas.

FJS concludes the financial and compliance audit of forty-one island council secretariats, which includes seven atoll councils, for the financial year 2016. 

Awarded on 5^th November 2017 by the Auditor General of the Republic of Maldives, this is first time the Auditor General has outsourced and appointed Contract Auditors to perform audit of island and atoll councils. 

FJS was mandated to conduct financial statements audit of twenty-three councils and compliance audits of eighteen councils according to the International Standards on Auditing and report to the Auditor General on the truth and fairness of the financial statements of the council secretariats and their compliance with Public Finance Act 3/2006.

A total of sixteen FJS personnel divided into four teams, were utilized in the engagement and covered a total of eight atolls across the Maldives

FJS is pleased to continue accounting review to its long-associated client, Morteza Capital Limited.

Morteza specializes in opportunistic hospitality and leisure investments in some of the world’s most exotic destinations. Morteza’s current focus is on resort investment in Maldives islands.

Accounting services provided to the client includes data entry, bank reconciliations, preparation of monthly income statements and computation and filing of taxes.

FJS continues to provide accounting function to its long-associated client, Salon Femina.

Salon Femina is a sole proprietorship operated in the Maldives, providing beauty and hair treatments exclusively for women. FJS has been providing accounting services to Salon Femina from the year 2014 onwards.

Accounting services provided to the client includes data entry, bank reconciliations, preparation of monthly income statements and tax computation.

FJS signs a contract with Nielsen UAE to implement a nationally representative survey on the use of information telecommunication technology in the Maldives. The Survey is conducted via Computer Assisted Personal Interviewing (CAPI). 

FJS has been appointed as the internal auditor of Allied Insurance Company of the Maldives Pvt Ltd for the year ending 2018.

FJS was appointed as the internal auditor of Allied Insurance Company for the year ending 2018, by the Board of Directors of the Company on 13^th June 2018. The engagement letter was signed between FJS and Allied Insurance Company on 2^nd July 2018.

Allied Insurance Company of the Maldives Pvt Ltd is a financial institute and a subsidiary of the State Trading Organization Plc, providing insurance services to corporate and individual customers.

FJS has been appointed as the internal auditor of Silver Sands Pvt Ltd for the year ended 2018, on a quarterly basis. 

The letter of engagement was signed between both parties on 10^th February 2018.

Silver Sands Pvt Ltd is a business established in the Maldives during the year 2000. Silver Sands Pvt Ltd operates their water sports and dive centers in their partner resorts, and carries out retail trade of furniture, home appliances, water sports equipment within Male’.