Financial Reporting and Assurance Services

Contact us

Siyazana Accounting
WG02 Greenfield Flats
Piet Street. 2197
email@siyazania.co.za
info@siyazania.co.za
+27 78 272 7118
+27 65 822 1817
Mon to Sat - 9:00 to 5:00
(Sunday Closed)

Download:

2020 Brochure

At SiyAzania Accountants, we elevate financial reporting from a mere compliance requirement to a powerful strategic tool. Our services, underpinned by the expertise of our Associate General Accountant (AGA(SA)), ensure your financial statements are not only accurate and compliant with relevant standards but also provide the clear insights needed to drive your business forward. We stand between your business and financial uncertainty.

Our Features:

Professional Expertise

All assurance work is overseen by a professional with the AGA(SA) designation, guaranteeing work is performed to a high professional and ethical standard.

Software Integration

Leveraging our Accounting Software Specialist skills, we ensure the underlying data from your system (e.g., QuickBooks, Pastel) is efficiently and accurately extracted and reported.

IFRS Compliance

We ensure AFS are prepared in compliance with the appropriate International Financial Reporting Standards (either full IFRS or IFRS for SMEs).

Actionable Insights

Management Accounts are customized to focus on metrics most relevant to your industry, providing clear, narrative explanations alongside the numbers.

CIPC-Ready Submissions

Our final reports and opinions are formatted for direct and hassle-free submission to the Companies and Intellectual Property Commission (CIPC).

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Happy adult black woman sitting at working desk in office smiling at camera adorably

(AFS) Independent Review

Annual Financial Statements

This service is a limited assurance engagement required for many non-owner managed private companies in South Africa that do not meet the criteria for a full statutory audit. We perform specific inquiry and analytical procedures to assess the plausibility of your financial information. The result is a formal conclusion on whether the financial statements are materially misstated. This is a critical statutory requirement for compliance with the Companies Act (CIPC).

(AFS) Compilation

Annual Financial Statements

This is a non-assurance service where we take your raw financial data (from your bookkeeping records) and compile it into a formal set of Annual Financial Statements. The compilation is performed in accordance with a specified financial reporting framework (most often IFRS for SMEs). This service provides a professionally presented, structured financial report suitable for CIPC submission and internal review.

PMA

Preparation of Management Accounts

We move beyond annual compliance to provide timely, internal reports (typically monthly or quarterly) focusing on your company’s immediate financial health. These reports include key performance indicators (KPIs), variance analysis (actual vs. budget), profitability breakdowns, and cash flow projections. These accounts are forward-looking tools, designed exclusively to assist management with crucial, day-to-day decision-making.

Key Features

Our Assurance Services

Professional Expertise: All assurance work is overseen by a professional with the AGA(SA) designation, guaranteeing work is performed to a high professional and ethical standard.
IFRS Compliance: We ensure AFS are prepared in compliance with the appropriate International Financial Reporting Standards (either full IFRS or IFRS for SMEs).
CIPC-Ready Submissions: Our final reports and opinions are formatted for direct and hassle-free submission to the Companies and Intellectual Property Commission (CIPC).
Software Integration: Leveraging our Accounting Software Specialist skills, we ensure the underlying data from your system (e.g., QuickBooks, Pastel) is efficiently and accurately extracted and reported.
Actionable Insights: Management Accounts are customized to focus on metrics most relevant to your industry, providing clear, narrative explanations alongside the numbers.

Frequently asked question:

01.What is the difference between an Audit and an Independent Review?

An Audit is a high-assurance engagement providing a reasonable opinion, typically required for larger, high-public interest companies. An Independent Review is a limited-assurance engagement, less costly and less time-consuming, suitable for many private companies that still require statutory compliance.

02. Who needs an Independent Review?

Generally, private companies that score above 100 points on the public interest score (PIS) but are not large enough to require a full audit need an Independent Review. We assess your PIS annually to determine your exact requirement.

03. How soon do I get my Management Accounts?

We work with you to establish a fixed schedule, typically within 10 to 15 business days of receiving all necessary transactional data for the preceding period. Timeliness is key to their value.

03. What information do you need to start the AFS compilation?

We require the complete and final general ledger trial balance, full supporting schedules (e.g., asset registers, loan details), and a confirmation of all required disclosures for the financial year under review.

03. Will this service help me get a loan?

Yes. Banks and lenders require assured or professionally compiled financial statements to assess your creditworthiness. Our involvement provides the necessary credibility and structure to support your application effectively.