Financial Statements Built On South African Standards, Not Assumptions
Annual Financial Statements, management accounts, cash flow projections and strategic financial administration, prepared to the letter of the Companies Act 71 of 2008 and the IFRS for SMEs Accounting Standard, and kept current with every regulatory change that affects your reporting obligations.
Our Accounting division exists for one reason: to give directors, shareholders and funders a set of numbers they can rely on without qualification. That means every statement we sign off is technically correct, defensible under audit or independent review, and current with South African law, not a template rolled forward from last year.
Four Pillars Of Our Accounting Practice
Annual Financial Statements
Every set of Annual Financial Statements we prepare is aligned to the IFRS for SMEs Accounting Standard and the disclosure requirements of the Companies Act 71 of 2008. We calculate your company's Public Interest Score at each year-end to confirm the correct level of assurance, whether that is audit, independent review or compilation, and to determine your disclosure and public-inspection obligations under the Act.
Management Accounts
Beyond statutory reporting, our management accounts give owners and boards a live, decision-ready view of performance. We build monthly or quarterly packs benchmarked against budget, prior year and industry norms, so variances are flagged and explained before they become problems.
Cash Flow Projections
We build rolling twelve-month cash flow models that stress-test your business against best-, base- and worst-case scenarios, factoring in VAT and provisional tax payment cycles, seasonal trading patterns, and funding or facility requirements. These projections are prepared to a standard your bank, funder or investor can rely on.
Strategic Corporate Financial Administration
For businesses that need CFO-level oversight without a full-time executive package, we provide ongoing strategic financial administration, coordinating your statutory, tax and CIPC obligations into a single accountable relationship, and advising your board on capital structure, budgeting and governance.
Staying Ahead Of South African Reporting Law
Two changes now shape how South African companies must prepare and disclose their financial statements. We are actively advising clients on both.
IFRS for SMEs — Third Edition
The International Accounting Standards Board has issued the third edition of the IFRS for SMEs Accounting Standard, the most significant revision since the framework was introduced. Revenue recognition has been rebuilt around the five-step model used in full IFRS, business combinations are more closely aligned to the equivalent full IFRS treatment, and a dedicated new section now governs fair value measurement. We are assessing which of our clients will be materially affected and can prepare a transition impact review well ahead of the mandatory effective date.
Public Interest Score & Remuneration Disclosure
Amendments to the Companies Act now require the audited Annual Financial Statements of qualifying companies to name each director and prescribed officer individually alongside their remuneration. Public and state-owned companies must additionally adopt a binding remuneration policy and present an annual remuneration report for shareholder approval at the AGM. Your company's Public Interest Score also determines whether outside parties may inspect and copy your AFS. We calculate this score at every year-end and advise you precisely on what your business must now disclose.
This information is provided for general guidance and reflects our understanding of South African reporting requirements at the time of writing. It is not a substitute for advice tailored to your specific company; speak to your Funacol advisor before acting on it.
Get An Independent Read On Your Financial Position
Book a Financial Review with a senior Funacol advisor. We'll assess your current statements, calculate your Public Interest Score, and flag exactly where your reporting stands against the Companies Act and IFRS for SMEs.