Practical Implementation

AFS Audit file support

March 25, 2018

We can assist with AFS review support to entities on IPSAS (Internatioanl Public Sector Accounting Standards),  Modified Cash Standards (PFMA entities) and GRAP (South African Schedule 3A & 3C entities, Municipalities, certain Legislatures, Constitutional Entities, FET Colleges, etc.) as part of their year-end Annual Financial Statement processes, e.g.:

Audit File Preparation assistance

Our team of expert consultants, including Chartered Accountants and Professional Accountants, will assist your entity with:

  • Performing of all relevant reconciliations e.g. bank accounts, suspense accounts, debtors and creditors;
  • Compilation of relevant registers;
  • Clearing of suspense accounts by investigating transactions and searching for relevant supporting documentation;
  • Validation of debtors and creditors;
  • Performance of interim and year-end inventory counts;
  • Physical verification of movable and immovable assets;
  • Implementation of GRAP;
  • Compilation of annual and consolidated financial statements;
  • On-site assistance during the audit process, ranging from adjustments to financial statements to providing responses to audit findings.