Practical Implementation

AFS Audit file support

March 25, 2018

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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.