SSSIG Financial Consultation is one of the most prevalent types of consulting throughout the world because the services that it provides are of particular interest to individuals as well as businesses.

SSSIG Financial consultants provide a wide range of services to businesses ranging from small companies through to large global corporations. Globally, part of the financial consultants’ primary services include budgeting, debt management, fundraising, and even in the role of financial advisor to companies’ employees. Financial consultants are especially important during the planning stages, often helping the business develop the right strategy and a business plan. The financial consultant is also a crucial component in pitching the business plan to prospective investors. 

The Scope of Business, the Capital and Legal Form:

As defined by the Regulation, Financial Consultation means the opinions and recommendations based on economic and financial research, studies and analysis concerning the feasibility studies and determining the anticipated current or future values of the securities, commodities, commodity contracts and companies to be provided to clients or published to the public in any of the various means of publication and communication. 

Similarly, Financial Analysis means the scientific systematic processing of data in connection with the position and performance of the companies in the past and at present, and future forecasts of the results of their business, the securities, commodities, commodity contracts, price trends and the trading volumes for the purpose of obtaining information used to take decision at the time of providing a financial consultation;

The Staff Qualifications and Requirements 

The licensed companies must provide the administrative and technical personnel needed to exercise the activity. Such personnel must include a General Manager or Chief Executive Officer assisted by an adequate number of certified Financial Analysts, researchers and technicians according to the following conditions:

The General Manager or Chief Executive Officer and certified Financial Analysts, researchers and technicians appointed by the licensed firm must be:-

• Natural person(s).
• Fully competent.
• Be of good conduct and behaviour and never been sentenced by a freedom restraining penalty in any crime against honour or honesty, unless rehabilitated. 
• Has never been declared bankrupt by a final court ruling, unless rehabilitated. 
• Such person must be entirely dedicated to work on full time basis. This condition applies only to the General Manager or Chief Executive Officer if and when the firm is licensed to practice only the financial consultancy and financial analysis activity. 
• The Academic qualifications and work experience for the General Manager or Chief Executive Officer and financial analyst must be as follows: 

1. The General Manager or Chief Executive Officer: must hold a university degree or an accredited professional certificate and a minimum of five years of experience in the economic or financial field.
2. The Financial Analyst: must hold a university degree or an accredited professional certificate and a minimum of three years of experience in the financial analysis field. 

• Financial Analyst must also pass the prescribed tests in accordance with the rules set by the country    

The licensed company must appoint an internal auditor also, and such auditor should be duly qualified and have at least three years’ experience in the field of internal auditing. From our experience with SCA, they typically accept a dedicated internal auditor and are also comfortable with outsourcing this responsibility with certain conditions.