:: Torres Llompart, Sánchez Ruiz, LLP ::

Services

1. AUDIT, REVIEW AND COMPILATION
2. MANAGEMENT ADVISORY SERVICES
3. MARKETING CONSULTING DIVISION
4. US HISPANIC AND CORPORATE SERVICES
5. INTERNATIONAL COMMERCE
6. GOVERNMENT CONSULTING
7. INTERNAL AND FRAUD AUDIT DEPARTMENT
8. RISK AND ADVISORY SERVICES
9. ECONOMIC ANALYSIS DIVISION
10. TAXES AND CORPORATE ADVISORY
11. SMALL BUSINESS DEPARTMENT
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1. AUDIT, REVIEW AND COMPILATION

The Firm performs regular and special audits of financial statements and other reports in accordance with generally accepted auditing standards, and reports on the fair presentation of financial position and results of operations in accordance with generally accepted accounting principles. In connection with all audits, the firm prepares a management letter. This is a report which sets forth recommendations relating to compliance with local, state and federal laws, internal controls, safeguards, accounting practices, policies, system procedures and other related matters. Significant deficiencies in internal control or other significant items are reported as noted during the examination to permit prompt action to be taken, as appropriate.

The Firm also prepares and assists clients in the preparation of unaudited financial statements, known as reviews and compilations, in accordance with standards established by the American Institute of Certified Public Accountants. These reports are normally required by lending institutions or other entities for certain situations which do not require audited financial statements.

Additionally, TLSR prepares personal financial statements for persons or individual proprietors.

The Firm’s Management Advisory Service (MAS) Department is comprised of a group of experienced and qualified talent with professional degrees including Master Degree in Business Administration (MBA) with specialization in Industrial Management, Certified Public Accountants (CPA’s), Certified Management Accountant (CMA), Certified Internal Auditors (CIA’s), Certified Management Consultant (CMC), Certified Government Financial Manager (CGFM), Certified Valuation Analyst (CVA), and Certified Fraud Examiners (CFE’s). The MAS Department partners with client management to identify solutions in planning, installing and maintaining management information and control systems which are required to effectively plan and control operations.

These services may be directly related to accounting, such as the design of accounting systems manuals, or the design, installation and implementation of highly sophisticated computer services; the review and evaluation of overall accounting procedures and internal controls; the review or assistance in the preparation of budgets and forecasts. Services may also pertain to areas not directly related to accounting, such as assisting management in matters of business policies, financing (business plans), evaluation of purchasing functions, personnel studies, production control studies, feasibility studies, statistical presentations, business valuations, and other administrative and managerial endeavors; also we serve as expert witness.

Through its experience, discipline, thoroughness, and focus, TLSR’s MAS Department can help organizations to achieve optimal performance through strategic planning and management, process innovation, and change management services.

The Marketing Consulting Division is designed to provide our clients with the knowledge and direction to effectively expose their brand/service to their target consumer. Each market, product, service, target, and client requires a customized approach. We first analyze our client’s needs before developing a customized work plan and timeline of the recommended work to be done.

Our consulting work ranges from analysis to help determine the strategy and market potential during the initial development stages of your product/service, to the development of innovative strategies to help improve demand for mature products/services. Qualitative and/or quantitative research are usually integrated to our process in order to understand both the business/consumer landscape as well as our client’s internal development needs.

The Marketing Consulting Division offer services including:

	Market viability studies.
	Customer segmentation analysis
	Defining customer value proposition
	Brand identity and positioning
	Brand strategy communication platform.
	Marketing strategy and communication plans - Internal and external communication program - Pricing and offer analysis - Channel strategies
	Outsourced marketing services - Managing Client's Agency
	Re-engineering internal sales/marketing processes

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4. US HISPANIC AND CORPORATE AMERICA SERVICE

With offices in San Juan, Puerto Rico and Manhattan, New York, TLSR enjoys key relationships with business leaders and business associations in the U.S. market. The Firm can assist in coordinating contacts and meetings, as well as in designing strategies in areas identified as key points to ensure that any client could meet its expansion plans and objectives. TLSR assists the clients in establishing new operation or new contacts for the business.

The Firm also enjoys alliances across the United States which strengthens its relationships in the private and governmental procurement sectors.

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5. INTERNATIONAL COMMERCE
TLSR’s International Commerce Division deals with corporate, tax and foreign governments regulations relating to conduct of trade and business operations outside of United States. In this context the Firm provides tax and corporate planning to maximize tax benefits available under the United States and Puerto Rico Internal Revenue Codes, such as tax incentives and exemptions, foreign trade zone applications, controlled foreign corporation (CFC) considerations, among others, as well as to establish mechanisms and procedures to comply with foreign government’s laws and regulations

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6. GOVERNMENT CONSULTING

TLSR’s Government Consulting Department provides management advisory services to state and local government entities. Government Consulting at TLSR is headed up by a Certified Public Accountant (CPA) and Certified Government Financial Manager (CGFM) with ample experience in the government sector. The Department also has extensive experience with federal regulations.

The Department also offers state and local government entities services pertaining to management of Federal Awards and the establishment of policies and procedures to maximize the effective use of the available funds. TLSR can also assist government entities in designing and implementing corrective action plans to address issues raised in audits.

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7. INTERNAL AND FRAUD AUDIT DEPARTMENT
TLSR’s Internal and Fraud Audit Department assists in the control and detection of fraud in company operations. The Firm has Certified Public Accountants (CPA’s), Certified Fraud Examiners (CFE’s) and a Certified Internal Auditors (CIA’s) with ample experience in these areas. We assess the effectiveness of an organization’s internal controls and review the effectiveness and efficiency of operations and organizational structures. The Firm also performs auditing for fraud detection. To achieve these objectives, the Firm performs independent reviews and evaluations of management operations and activities to assess areas including:

	Controls in place to safeguard assets.
	The accuracy, completeness and timeliness of financial and operating information.
	Compliance with policies, laws and regulations.
	Economy and efficiency in the use of resources.
	Effectiveness in accomplishing the organization’s mission, goals and objectives.

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8. RISK AND ADVISORY SERVICES

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9. ECONOMIC ANALYSIS DIVISION
To improve our services, our Firm established an Economic Division, this services that we provide are:

	Economic Impact Studies – includes economic and social impact analysis, economic and demographic projections, economic analysis of benefits, valuation and contribution of resources, activities and industries, assistance in economic development and evaluation of the local and regional structures and economic conditions.
	Analysis of Policies and Program Development – assist to define problems, compilation and analysis of data in order to make decision, investigation of different alternatives, make recommendations and prepare an implementation plan.
	Market Investigations
	Presentations Related to Economy Situation
	Economic Projections and Analysis
	Other Services – include cost and production analysis, goods and services demand analysis, organizational structure and market analysis, evaluation of the technological capabilities of the human resources and project management.

TLSR’s Tax Department is headed by a Certified Public Accountant with national CPA firm background. Always conscious of the importance of tax issues, the Firm handles the preparation and review of tax returns, represents clients in connection with tax examinations on income, property, estate and gift tax, payroll, excise, gross receipts and other applicable taxes, as well as tax exemptions and foreign trade zone applications. In addition, the Tax Department deals with the organization and tax planning of professional, regular and special corporations and special partnerships.

Tax planning is an essential tool for the professional or businessman to develop an efficient organizational business practice, in the sense of investing resources in its growth instead of maintaining its economic level and paying more taxes. TLSR is committed to help clients achieve the maximization of the tax advantages and incentives afforded by the United State and Puerto Rico Internal Revenue Codes. The Firm knows that every business is unique in its activities, functions and goals. That is why in its tax planning counseling, the Firm engages in a full analysis of each client’s economic situation and particular goals, in each instance focusing on the client’s particular needs.

TLSR Small Business Department provides accounting and bookkeeping services for small and medium client needs. In addition to assistance and evaluation of accounting and financial problems phased by clients, services offered include monthly preparation of the following records:

	Cash disbursements journal.
	Cash receipts journal.
	General journal registers.
	Detailed trial balance.
	Balance sheet, income statement and schedules of financial statement detail.
	Reconciliation of the bank accounts.
	Preparation of payroll taxes quarterly returns and estimated tax returns.
	Year end tax returns.

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