Specialised Services for Additional Financial Management Requirements
Anthurico has the specialised expertise to assist those businesses that need a range of additional, off-site financial services to complete their financial management records and requirements.
Our Specialised Off-Site Financial Services
- Preparation of Annual Financial Statements
- Independent Reviews
- Accounting Officer Statements for Close Corporations
- Limited Scope Audits
- B-BBEE Verifications
Preparation of Annual Financial Statements
The preparation of annual financial statements is a pre-requisite for any business that is actively operating. Financial statements report on your business’s financial status, they guide the management team on the overall performance of the business. You will need financial statement for filling of your annual tax returns with the South African Revenue Services, they are also a must-have if you intend to raise capital from banks and investors.
Preparing the financial statement is a tedious task which needs meticulous processing of records of financial transactions, many of our clients find the cost and risk of doing this function in-house too great. We offer a full outsourced solution which adds real value and reduces stress, cost and the risk of misstatement.
We prepare financial statements in accordance with the latest accounting standards used in South Africa, namely:
- Standard of Generally Recognised Accounting Practice (GRAP)
- International Financial Reporting Standards (IFRS)
- South African Standards of Generally Accepted Accounting Practice (SA GAAP)
- International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SME’s)
Accounting Officer Statements for Close Corporations
While Close Corporations are not required to have their financial statements audited by a Chartered Accountant, they are obligated to appoint an Accounting Officer that is a member of a recognized accounting profession. Anthurico has the expertise to perform all the responsibilities of the Accounting Officer, including submitting financial statements to the members of the CC, reporting on the financial statements and determining whether they are in agreement with the accounting records. We ensure that the financial statements and reporting are completed on time and in a reasonable manner and we provide analysis that can be used in future planning and budgeting.
Anthurico has the knowledge and expertise to perform independent financial reviews. If a company’s public score is less than one hundred the company can select to have an independent review done as an alternative to an audit. The independent review must, therefore, determine that the basis of accounts is acceptable.
An independent review is an alternative assurance engagement where the independent review provides limited assurance on a set of annual financial statements when compared to that of the reasonable assurance provided by the external auditor.
Broad-based black economic empowerment (B-BBEE) verification is an independent audit process aimed at verifying, confirming and validating the B-BBEE status of a measured organisation. Anthurico is in partnership with a leading accredited BBEEE specialist that will supply these certificates for small, medium and large enterprises across all sectors. We assist companies of all sizes to be properly rated and also provide BEE verification to entities with an annual turnover of less than the R10 million, qualifying them as an exempt micro enterprise (EME).
Limited Scope Audits
Anthurico offers limited scope audits that do not require substantial review and testing of certain standards. Our clients usually require us to verify the completeness or accuracy of certain accounts, operations or investment data. Here we would limit the procedure to comparing the certified data to amounts presented in the financial statements. As a result, we cannot provide a qualifying opinion on the financial statement and instead provide a disclaimer of opinion.