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Smarter Accounting Solutions

Independent Review Services in Sandton

Does my company need to be audited?

“Be audit you can be”

If you just rolled your eyes at the title, it’s ok, because we’re here to unpack the myth that every company needs an audit.

The new Companies Act of 2008 removed the requirement for all companies to be audited. This provides more flexibility and consideration towards SME’s who may find annual audits too administrative and very costly.

Points are now calculated according to the Public Interest Score (PIS), which provides a high-level indication of the impact the business would have on the public if the business were to fail. Businesses that score below 350 may opt for an independent review whereas those with a PIS score of more than 350 must undertake an audit.

Simply put, if the business is not managed by all the shareholders, or if it’s determined through the public interest score that the failure of the business will have a significant impact on the public, then you would require an Independent Review.

GAS can help calculate your Public Interest Score and provide professional Independent Review services to your business.

Get in touch now.

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Our cloud accounting services cover:

Absolute security and protection of information – both financial and cyber.
Access to real-time financial information, 24/7. Have your sales figures, cash flow status and debtors at your fingertips.
Receive management accounts monthly and analyse your businesses performance.
Measure the profitability of revenue lines, cost centres and projects at the click of a button.
Digitally record and store tax invoices and have immediate online access to them for SARS audit purposes.
Keep track of and approve expense claims all from one place – in the cloud.
Integrate your software and automate your processes to streamline the way you work.
Be fully tax compliant and investor-ready with up-to-date business accounts that speak to funders and investors.
Receive ongoing support, training and skills development to ensure that you are always in the know.
New company registrations and related CIPC disclosures are handled quickly and seamlessly.

Get started with GAS

Let us provide you with accurate and reliable business data to support decision making and business growth.

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