Education services
Our services to the education sector include:
| External Audit | Enterprise Risk Services | Tax | Consulting | Corporate Finance |
External Audit
Our Assurance professionals gather information during a Deloitte audit to understand fully our client's organisation, internal controls and risk spectrum. We are fortunate through our existing relationships with a number of higher education institutions that we have gained an insight and an understanding into the workings of such institutions.
We are also aware of the current challenges that the sector is facing such as funding requirements, strategic planning, operational efficiencies, cost reduction and national competitiveness. We believe that the ability to provide value for money hinges on the skills and experience of the professionals performing the audit. We work closely with our clients, yet independently, and encourage open communication.
Our services include:
• Statutory and financial statement assurance
• Quarterly reviews
• Pension scheme audits
• EU grant audits
• Regulatory reporting assurance
• Completion accounts
• Revenue assurance
Enterprise Risk Services
Enterprise Risk Services(ERS) is part of our audit department. Our ERS service offers an array of services that are particularly relevant to the higher education sector. Such services include the following:
• Internal audit strategies and plans
• Internal reviews and compliance
• Corporate Governance, in particular the code of practice for the governance of state bodies as amended for third level institutions
• The role of the committee including the Audit committee
• Unit costing models
• Benchmarking
• IT controls assurance
• Risk Management
• Review of Key performance indicators
• Internal audit structures including operational areas in the internal audit universe
Our ERS team have the experience and expertise required to advise and support the higher education sector. They are skilled at identifying opportunities, avoiding risks, dealing with threats and the development of a strong core business are all important to achieving business objectives. Key decision makers also need timely and reliable business intelligence. Our risk professionals help clients to identify, analyse and control risk. Our service offering covers the areas of strategy, operations, reporting and compliance across an entire organisation including people, process, technology and data.
Tax
VAT on Income streams:
Research and consultancy services
Parking facilities
Catering services
Provision and secondment of staff
Room-hire, licences and conference facilities
Incubation centres
Student and tourist accommodation
Licenced premises
VAT Reverse- Charge on Expenditure:
Construction services
Intra-Community acquisitions
Purchase of international services
VAT Deduction:
Taxable supplies
General overheads
Income Tax, VAT and Stamp Duty advice on Section 50 & 843 structures:
Set up of investor structure
Buy-back of buildings from investor groups
Employer Tax:
Expense payments
Benefit In Kind
Termination payments
Tax status of external examiners, reviewers, IT contractors etc.
Professional Services Withholding Tax:
Scope of the tax
Computer and IT services
Marketing and promotional activities
Relevant Contracts Tax:
Operations which “render complete” construction operations
Installation of equipment, laboratories, seating, telecommunications etc.
Building fit-out
Income Tax and Corporation Tax:
Charitable status for subsidiaries
Joint ventures and partnerships with commercial bodies
International transactions
Tax Clearance Procedures:
Scope of the procedures
Preparation of contracts and tenders
Liaison with Revenue:
Assistance with Revenue audits
Revenue correspondence and enquiries
Consulting
Deloitte consulting provides expert advice to the higher education sector in Ireland and has worked with the sector on a number of projects including:
• Financial management
• Business Process Reengineering
• Strategic and Sectoral reviews
• IT advisory and development
• ERP and other package selection and implementation
• Procurement advisory
• Executive selection and HR advisory
Each assignment is tailored as per requirements and we also leverage off our international links in the higher education sector.
Corporate Finance
Deloitte Corporate Finance provides expert advice to the higher education sector. Our corporate finance service offering to the education sector includes:
• Mergers and acquisitions advice from our financial advisory experts;
• Vendor and acquirer due diligence review, which can include financial, taxation and commercial due diligence; and
• Valuation services in respect of both the target and merged entities.
Recent corporate finance assignments undertaken in the education sector include:
• Acquisition by a university of a management institute
- Financial due diligence
- Taxation due diligence
- Valuation work in respect of the combined entity
• Merger of two Institutes of Technology
- Financial due diligence
- Taxation due diligence
We offer both full scope and limited scope assignments, which are tailored according to the requirements of the engagement.