Other Specialised Services
Our firm has a bouquet of specialised services that cater mostly for medium to large sized business. These include but not limited to the following:
Fixed Assets Registers
We assist clients in setting up fixed assets registers by performing the following tasks:
- Developing fixed asset internal control systems
- Identification and classification of assets
- Locating assets, tagging them, inventory count and recording onto accounting or fixed asset software applications
- Costing and identification of correct write off periods
- Maintenance of fixed assets re registers
Reconstruction of Financial Statements
As much as 90 % of Tax problems emanate from incorrect accounting practices because of clients using inexperienced accountants. These accountants use excel spreadsheet to prepare their books and the accounting treatment as a result of this is usually incorrect. The extent of the damage is usually identified by SARS audits.
Our firm has the skills and expertise to prepare a fresh set of financial statements by processing all source documents and bank statements from scratch until we have all the data sitting on our accounting systems for proper analysis. We then analyse the data and prepare credible financial statements that can be audited and presentation to the SARS.
Our most challenging assignment to date was the reconstruction of financial statement for a client under SARS audits for a period covering 15 years. Close to 1 million transactions had to be processed on our accounting system and we successfully did this within 4 months. The reconstructed financial statements and audit trail managed to save our client R 50 million in tax assessments.
Our firm is also equipped to assist our clients with the set-up of inventory control systems, stock counts on either a monthly, quarterly or annual basis. As part of the stock count process we also prepare reconciliations to ensure that leakage is quickly identified.