AFS Drafting

Drafting of IFRS and IFRS for SME’s Compliant AFS:

The changes in the Companies Act legislation mean that you will need to ensure that you have IFRS or IFRS for SME’s compliant Annual Financial Statements that are prepared by an independent and academically qualified Accountant. It is important to note that your Auditor may no longer perform both the statutory audit service and the preparation of the Annual Financial Statements for your entity if your entity is required to be audited in terms of the Companies Act.

Or where you are not subject to a statutory audit function and you usually prepare your Annual Financial Statements internally, before your Auditor or Accounting Officer begins the external annual review of your Financial Statements, the 2008 Companies Act automatically deems internally compiled Annual Financial Statements to be subject to a statutory audit. This is a costly and unnecessary statutory obligation that can be avoided by engaging us to prepare the Annual Financial Statements on your behalf.