About

Home

BGM International MW

Guiding Financial Excellence Through Precision and Integrity

We, at BGM International, are a professional business partner whose success and growth stamina is driven by our passion to add measurable value to our clients. We offer the following core outsourced services to the satisfaction of our valued customers:

1. Internal audit and other advisory services.
2. Enterprise risk management.
3. Finance and accounting (transaction identification, classification, recording and reporting, independent asset physical verification).
4. Customized business solutions (business process reengineering, policy and process formalization, project evaluation).
5. Resourcing and training (human capital search, knowledge transfer, team building and performance assessment).
6. Business process automation tools development and franchising e.g. software packages.

Vision

We strive to be the world-class and preferred independent business advisor in Malawi and beyond.

Mission

As a growing professional firm we provide modern thought-based assurance and advisory services to a wide scale of clients. We bank on our client satisfaction for a sustainable growth of the business, social and economic world.

Need Assesment

Small, medium, and large-sized enterprises make a significant contribution to the socio-economic and political infrastructure of any country (Matlay and Westhead, 2005). According to the OECD (2004), SMEs alone constitute 95% of total enterprises in the world and account for 66% of total employment and 55% of total production.

A common experience for all these organizations is exposure to life-threatening risks to their business goals. Unfortunately, recent studies have shown that the majority of small to medium-sized enterprises operate without acquiring independent review and assurance services on their business performance — financially, operationally, or even strategically — which would act as a yardstick with which to measure how well or poorly the risks above are being mitigated. Being a specialist field, the provision of independent assurance on business performance requires sufficient competence, skill, and, of course, experience from the service providers.

This, in turn, comes at a prohibitive price tag in the form of staff remuneration, fringe benefits, technology, office space, and furniture for in-house resources (internal auditors) or audit fees for outsourced services. Additionally, organizations may be involved in continuous management of assurance service providers, which is obviously time-consuming. These, among other challenges, are common pitfalls that bar most organizations from engaging independent review and assurance services on their business performance. Consequently, your guess is as good as ours; most organizations are exposed to a whole range of business risks (strategic, financial, operational, and compliance) whose mitigation, if any, occurs in a fire-fighting fashion. In this case, we would not be wrong to conclude that the gap analyzed above is a major contributor towards the short life span of several corporate entities in Malawi and beyond.

Proposed Solution

As a response to the business vulnerability above, we, at BGM International, avail to you our innovative assurance and advisory services covering internal audit, enterprise risk management, business process
re-engineering, finance and accounting, recruitment, training and other business management solutions.
All these services are tailor-packed and flexible to suit your specific requirements:

Internal Audit (IA)

BGM International will provide you with objective and value adding assurance on your business standing by employing a systematic and disciplined review of your business transactions from strategic planning to operational execution and reporting.
These reviews are always benchmarked on the modern risk-based approach by concentrating our resources
(time, logistics, personnel etc.) on business areas and transactions that matter to you. The review scope will be a combination of results of our independent risk assessment on your business and input from Management and available oversight authorities, but commonly, this would cover finance, supply chain management, technology, operations (effectiveness & efficiency), legal and regulatory compliance and also business strategy planning and implementation.
Following this review, we shall issue an exceptional report highlighting governance, risk and control deficiencies with recommendations for improvement and auditor-client agreed action plans, which shall be subjected to periodical follow up reviews to ensure implementation by Client Management.

Fraud Management & Investigation

Fraud can happen any time in any organization regardless of size. In fact, it is estimated that on average, organizations lose 7% of their annual revenues due to fraud, and only a small percentage of this loss is recovered eventually. Among major challenges faced by organizations when managing fraud is lack of skilled personnel who can design and implement effective controls to prevent, detect and investigate fraud schemes as committed by employees, management and even outside parties like suppliers and customers.

Business Process Re-engineering (BPR)

Business processes, if documented, serve several purposes including; acting as artifacts for orienting both new and old employees into the organization’s culture and its activlties, a tool for cascading business strategy into more detailed operations for easy implementation by employees and also a means of conducting organization self-health-checks for continuous improvement.
Business Process Re-engineering, therefore, is a structured methodology of understanding, documenting, modeling, analyzing, simulating, executing and continuously improving end-to-end business processes and all relevant resources in relation to an organization’s ability to add value to its business.
At a glance, this definition sounds exciting and easy to implement! Far from it, bridging the gap between theory and practice of BPR is what most organizations including, large corporations cannot easily execute; considering the winding technical knowhow and expert costs involved.
BGM International will use its cumulative experience to bring simplicity to your business processes by taking you through a step-by-step procedure to identify, review, understand and document all key business processes driving your business portfolios. The final product (documented business processes) will be left with you as your legal property which you will refer to, from time to time, as a self-service for the minimum purposes articulated above.

Enterprise-wide Risk Management (ERM)

In simple terms, ERM are coordinated activities implemented to direct and control an organization with regard to RISK and OPPORTUNITIES. These include identifying, evaluating, mitigating/ exploiting and reporting on such events (risks and opportunities). Common examples of these events include loss of viable business contracts, fraud, fire, poor economic conditions, loss of key customer accounts, loss of business records, legal suits,
poor reputation, loss of skilled staff, cyber risks, bad debts, floods, heavy rains, emerging markets, favorable tax laws just to mention a few.
In this competitive age, success of any organization is dependent on a systematic and proactive approach to managing risks and opportunities as an integral part of Organization’s DNA.
We, at BGM International, will render you consultancy service in this critical business area and help you establish a sound risk management framework imbedded into your business strategy and operations.

Final products from our service will be a Risk Heat Map being an exhibit of top risks that you must prioritize in allocating your hard-earned resources. In addition, an Enterprise Risk Register will consolidate all risks affecting your business objectives and mitigations put in place by Management or recommended by ourselves. Again as a self-service, you will use the Heat Map and Register above to monitor how business risks in your Portfolios are evolving including adequacy and effectiveness of risk mitigating factors like internal controls.

Accounting Services

To stay focused on building a business that will achieve its goals, you inevitably need solid financial management system with a dependable accounting function-a resource you may not have in-house. Whether you may want to add expertise to your existing team or completely outsource your accounting and finance functions, we offer reliable and economical options, including:

• Accounting process, policies and best practice development and training.
• Bookkeeping (transaction identification, classification, recording and reporting).
• Inventory and non-current assets independent physical verification and reporting.
• Financial reporting and advice for management and investors.
• Financial statement independent external audit coordination.
• Tax planning and accounting.

Recruitment & Training

Modern organizational are in fashion of adopting a core competence strategic drive. This entails letting
go day-to-day management of non-value creation activities like staff recruitment and training.
BGM International is here to answer your every call in this regard. Save for your business preference, we will be glad to offer you the following human capital management services:

• Executive search including back-ground checks
• Candidate shortlisting
• Candidate interview (written, oral and psychometric assessments)
• Staff performance assessment
• Training based on skill-gaps and business evolutions.

0
+
Years of Experince

Cost Structure

BGM International will endeavor to be as much professionally flexible as possible whilst meeting your corporate needs at affordable cost. In view of this commitment, each service line presented above will attract separate fee. Needless to say that, the more services you engage us in, the higher the bargain value you will go away with in terms of service fee discount. Ultimately service fee will be a negotiable between you and us.

Our Team

Bosco Chigwenembe CRMA, CIA, ACCA, BAcc – Partner

Bosco is a highly trained and Certified Public
Accountant (CA) qualified with the Association of Chartered Certiied accountants (ACCA),

Certification in Risk Management Assurance (CRMA), has a Bachelor’s Degree in Accounting (with Credit obtained from the University of Malawi-Polytechnic and is an Internal Audit Practitioner (CIA).
With more than eight years of assurance professional experience lo his credit, Bosco has concentrated his career around assurance and client-roaching on governance, risk management and controls. He has expeditious hands on experience and expertise in risk-based internal audit and assurance, enterprise-wide risk management assurance, business process re-engineering and fraud management
Before joining BGM International, Bosco served as Internal Audit Manager for Standard Bank Malawi limited, a Member of Standard Bank Group, a leading global financial services Provider with operations across African Continent, Internal Assurance Manager for Airtel Malawi Limited, a Subsidiary of Bhart Airtel limited, a leading global telecommunications Company with operations in twenty countries across Asia, and Africa. He also served as Internal Audit Assistant Manager for Sunbird Tourism Limited, a local hotel chain, and was responsible for providing leadership and supervisory role lo internal audit team on eight business units across Malawi. He was trained as an External Auditor at Deloitte Malawi, one of the Big Four Public Accounting Firms globally.
Bosco’s professional membership affiliates to Institute of Internal Auditors Global and Malawi Chapter (IIA), Association of Chartered Certified Accountants (ACCA) and Institute of Charted Accountants in Malawi (ICAM).

George Mbisa
CFSA, BAcc – Partner

George serves as a Partner of BGM International, with over 9 years of experience in audits both external and internal having worked with KPMG Malawi, Ecobank Malawi and OIBM Internal Audit Departments before joining BGM International. His professional background includes experience with management and administration of an audit department, strategic planning, financial analysis, asset management, financial services, process improvement, cost reduction, policy formulation, and project management from an internal audit perspect ve
George held various external audit positions at KPMG Malawi and various internal audit positions up to managerial level at Ecobank Malawi and OIBM. And, as a result, has a firm background in risk based internal audit and assurance, governance and risk management, fraud management and business process re – engineering. George has expertise in the following industries; Hospilaljty, Banking, Insurance, Agricultural, Non – Governmental Organizations and Parastatals
George earned his Bachelor of Accountancy Degree from the University of Malawi, The Polytechnic. In addition to being a Certified Financial Services Auditor (CFSA), George is also actively pursuing his Certified Internal Auditor (CIA) designation. He is a member of the Institute of Internal Auditors Global and Malawi chapter and serves as a member in the events and organizing committee of the Institute of Internal Auditors Malawi. He is also affiliated to the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in Malawi (ICAM).

Michael llemba
FCCA, CA(M), CISA, CFSA – Partner

Michael is a Partner who is a highly trained accountant and Internal Auditor with more than 1 Oyears experience in various internal audit and finance roles acquired from his former employment with Malawi Posts Cooperation, Malawi Savings Bank, FDH Financial Holdings, Christian Health Association of Malawi and Limbe leaf Tobacco.
Michael’s experience and qualifications provide a solid foundation in all assurance and risk advisory services offered to our clients in different industries with a bias towards financial services (banking and Money Market), Parastatals, Agricultural and Non – Governmental Organizations. Michael has an in-depth knowledge of Risk based Internal Auditing, Regulatory compliance audits, financial and operational audits.
Michael a qualified accountant of both the Association of Certified Charted Accountants (ACCA) and the Institute of Certified Chartered Accountants Malawi (ICAM) he is also a Certified Financial Services Auditor (CFSA) and a Certified Information Systems Auditor (CISA) Michael is also actively pursuing his Certified Internal Auditor (CIA) designation. He is a member of the Institute of Internal Auditors Global and Malawi chapter and serves as a member in the events and organizing committee of the Institute of Internal Auditors Malawi.