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News article
19 February 2018
There are many legal, and practical, reasons why companies may be structured in groups, branches, etc. as opposed to just one reporting unit.  In these cases, it’s also not uncommon to have different reporting and audit requirements applying to...
News article
18 April 2018
An external audit provides reasonable (but not absolute) assurance that the financial statements of the entity being audited are free from material misstatement. However, external auditing is often seen as costly and of no practical value to...
News article
10 July 2018
Planning is one of the most important parts of the audit process and proper planning will ensure that the audit is executed and conducted properly. The audit process includes the following. Obtaining an understanding of the entity and its...
News article
21 September 2018
The annual audit is never an event that our clients look forward to. It can be time consuming for the client and, of course, quite costly. The Companies Act introduced a “lighter” alternative to the audit in the form of the independent review,...
News article
27 September 2018
If the saying that “any publicity is good publicity” were true, auditors would have come very close to celebrity status lately.  After recent events like state capture, the SARS report, VBS Bank, Steinhoff, etc. it is almost impossible to go through...
News article
4 October 2018
An audit is an inspection of your business accounts, including accounting systems documents and invoices. The goal of an audit is to determine if the financial statements are representing an accurate view of the company. However, not all businesses...
News article
2 November 2018
In preparation for an audit some groundwork can be done to aid both the audit team and client staff, which could result in saved time and costs. Auditors need to know how balances and totals in the general ledger are made up. This is why certain...
News article
14 November 2018
Companies may choose to appoint an audit committee as part of a good corporate governance strategy, or they may be required to do so in terms of legislation or other requirements. The King Code of Governance Principles and the King Report on...
News article
10 September 2015
Financial statements are prepared annually for the purpose of review and decision making by the intended users. It’s therefore imperative that the information presented in a set of financials be as fairly stated as possible. International standards...
News article
25 September 2015
The Companies Act 71 of 2008 (the Act) was signed into law on 8 April 2011 and its commencement date was 1 May 2011. The Companies Act 61 of 1973 (the previous Act) was repealed on 1 May 2011. Schedule 5 of the Act sets out the transitional...

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