{"id":13597,"date":"2023-07-18T21:28:09","date_gmt":"2023-07-18T21:28:09","guid":{"rendered":"https:\/\/business.reobiztheme.com\/?page_id=13597"},"modified":"2026-03-04T16:28:27","modified_gmt":"2026-03-04T14:28:27","slug":"audits","status":"publish","type":"page","link":"https:\/\/www.dkalmin.co.za\/index.php\/services\/audits\/","title":{"rendered":"Audit"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"13597\" class=\"elementor elementor-13597\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e4bce86 e-flex e-con-boxed e-con e-parent\" data-id=\"e4bce86\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-010c0d2 e-con-full e-flex e-con e-child\" data-id=\"010c0d2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-910ac1d elementor-widget elementor-widget-heading\" data-id=\"910ac1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Audit<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91e57cf elementor-widget elementor-widget-text-editor\" data-id=\"91e57cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5>Reviews | Compilations | Audits<\/h5><p class=\"big\">As registered members of the Independent Regulatory Board of Auditors (IRBA), South African Institute of Chartered Accountants (SAICA) and South African Institute of Professional Accountants (SAIPA) we practice as auditors and accounting officers for companies, trusts and Close Corporations.<\/p><p class=\"big\">We have extensive resources within our company which enable us to provide a full range of services to companies ranging from small to very large.<\/p><p class=\"big\">Each client is treated as being extremely important and receives an excellent and timeous service.<\/p><p>\u00a0<\/p><h3>FREQUENTLY ASKED QUESTION<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cac4f79 e-con-full e-flex e-con e-child\" data-id=\"cac4f79\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8dd5ef3 elementor-widget elementor-widget-sp_easy_accordion_pro_shortcode\" data-id=\"8dd5ef3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"sp_easy_accordion_pro_shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>#sp-ea-17757 .spcollapsing { height: 0; overflow: hidden; transition-property: height;transition-duration: 300ms;}#sp-ea-17757.sp-easy-accordion>.sp-ea-single {margin-bottom: 10px; border: 1px solid #e2e2e2; }#sp-ea-17757.sp-easy-accordion>.sp-ea-single>.ea-header a {color: #444;}#sp-ea-17757.sp-easy-accordion>.sp-ea-single>.sp-collapse>.ea-body {background: #fff; color: #444;}#sp-ea-17757.sp-easy-accordion>.sp-ea-single {background: #eee;}#sp-ea-17757.sp-easy-accordion>.sp-ea-single>.ea-header a .ea-expand-icon { float: left; color: #444;font-size: 16px;}<\/style><div id=\"sp_easy_accordion-1771917015\"><div id=\"sp-ea-17757\" class=\"sp-ea-one sp-easy-accordion\" data-ea-active=\"ea-click\" data-ea-mode=\"vertical\" data-preloader=\"\" data-scroll-active-item=\"\" data-offset-to-scroll=\"0\"><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-177570\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse177570\" aria-controls=\"collapse177570\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> When is an Audit required?<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse177570\" data-parent=\"#sp-ea-17757\" role=\"region\" aria-labelledby=\"ea-header-177570\"> <div class=\"ea-body\"><p>Private or personal liability companies that are required to be audited by the Companies Act, 2008 or regulation 28, must file a copy of the latest approved Audited Financial Statements on the date that they file their annual return with the CIPC.<\/p><p>The following private companies are required to have their annual financial statements audited:<\/p><p>\u2022 Any private or personal liability company if, in the ordinary course of its primary activities, it holds assets in a fiduciary capacity for persons who are not related to the company, and the aggregate value of such assets held at any time during the financial year exceeds R5 million;<\/p><p>\u2022 Any private or personal liability company that compiles its financial statements internally (for example, by its financial director or one of the owners) and that has a Public Interest Score (PIS) of 100 or more;<\/p><p>\u2022 Any private or personal liability company that has its financial statements compiled by an independent party (such as an external accountant) and that has a Public Interest Score (PIS) of 350 or more;<\/p><p>Unless the company has opted to have its annual financial statements audited or is required by its Memorandum of Incorporation (MOI) to do so, a private or personal liability company that is not managed by its owners may be subject to independent review if:<\/p><p>\u2022 It compiles its financial statements internally and its Public Interest Score is less than 100;<\/p><p>\u2022 It has its financial statements compiled independently at its Public Interest Score is between 100 and 349;<\/p><p>Private or personal liability companies that are not required to have their financial statements audited, may elect to voluntarily file their audited or reviewed statements with their annual returns. If such companies choose not to file a full set of financial statements, they must file a financial accountability supplement with their annual return.<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-177571\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse177571\" aria-controls=\"collapse177571\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> What is a Independent Review?<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse177571\" data-parent=\"#sp-ea-17757\" role=\"region\" aria-labelledby=\"ea-header-177571\"> <div class=\"ea-body\"><p>A review is a limited assurance engagement where the practitioner performs primarily inquiry and analytical procedures to obtain sufficient appropriate evidence as the basis for a conclusion on the financial statements as a whole, expressed in accordance with the requirements of ISRE 2400 (Revised).<\/p><p>An Independent Review is a review engagement performed by a practitioner who was not involved in the preparation of the financial statement.<\/p><p>In terms of Regulation 29(4) an independent review of a company\u2019s annual financial statements must be carried out:<\/p><p>\u2022 in the case of a company whose public interest score for the particular financial year was at least 100, by a registered auditor, or a member in good standing of a professional body that has been accredited in terms of section 33 of the Auditing Professions Act; or<\/p><p>\u2022 in the case of a company whose public interest score for the particular financial year was less than 100, by:<\/p><p>- a person contemplated in paragraph (a); or<\/p><p>- a person who is qualified to be appointed as an accounting officer of a close corporation in terms of section 60 (1), (2) and (4) of the Close Corporations Act, 1984 (Act No. 69 of 1984).<\/p><p>Independent reviews are not required for owner managed profit companies, but can be performed voluntarily if the public interest score is less than 350 and the financial statements are independently compiled, or if the public interest score is less than 100.<\/p><p>An independent review can also be performed voluntarily for CC\u2019s but the cost versus benefits needs to be considered.<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-177572\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse177572\" aria-controls=\"collapse177572\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> What Is a PI Score?<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse177572\" data-parent=\"#sp-ea-17757\" role=\"region\" aria-labelledby=\"ea-header-177572\"> <div class=\"ea-body\"><p>How to calculate the Public Interest Score (PIS) of a company or close corporation<\/p><p>\u2022 a number of points equal to the average number of employees of the company during the financial year;<\/p><p>\u2022 one point for every R1 million (or portion thereof) in third party liability of the company, at the financial year end;<\/p><p>\u2022 one point for every R1 million (or portion thereof) in turnover during the financial year; and<\/p><p>\u2022 one point for every individual who, at the end of the financial year, is known by the company-<\/p><p>\u2022 in the case of a profit company, to directly or indirectly have a beneficial interest in any of the company's issued securities; or<\/p><p>\u2022 in the case of a non-profit company, to be a member of the company, or a member of an association that is a member of the company.<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-177573\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse177573\" aria-controls=\"collapse177573\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> What about Body Corporates?<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse177573\" data-parent=\"#sp-ea-17757\" role=\"region\" aria-labelledby=\"ea-header-177573\"> <div class=\"ea-body\"><p>Previously, only Sectional Title Schemes with ten or more units were required to have their annual financial statements audited.<\/p><p>However, the new rules and regulations now require that all Sectional Title Schemes annual financial statements be audited (unless all the sections in a Sectional Title Scheme are registered in the name of one person).<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f2c5d81 bs-sidebar dynamic-sidebar e-con-full e-flex e-con e-child\" data-id=\"f2c5d81\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5c3d1ae elementor-widget elementor-widget-sidebar\" data-id=\"5c3d1ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"sidebar.default\">\n\t\t\t\t\t<div id=\"nav_menu-1\" class=\"service-singles widget widget_nav_menu\"><div class=\"menu-services-container\"><ul id=\"menu-services\" class=\"menu\"><li id=\"menu-item-14046\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14046\"><a href=\"https:\/\/www.dkalmin.co.za\/index.php\/services\/company-tax\/\">Company Tax<\/a><\/li>\n<li id=\"menu-item-14047\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14047\"><a href=\"https:\/\/www.dkalmin.co.za\/index.php\/services\/audits\/\">Audit<\/a><\/li>\n<li id=\"menu-item-14049\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14049\"><a href=\"https:\/\/www.dkalmin.co.za\/index.php\/services\/statutory-services\/\">Statutory Services<\/a><\/li>\n<li id=\"menu-item-14050\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14050\"><a href=\"https:\/\/www.dkalmin.co.za\/index.php\/services\/individual-tax\/\">Individual Tax<\/a><\/li>\n<li id=\"menu-item-14920\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-14920\"><a href=\"https:\/\/www.dkalmin.co.za\/index.php\/services\/monthly-accounting\/\">Monthly Accounting<\/a><\/li>\n<\/ul><\/div><\/div>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-66099f9 e-con-full e-flex e-con e-child\" data-id=\"66099f9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-c984c9e e-con-full e-flex e-con e-child\" data-id=\"c984c9e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-73c823b phones elementor-widget elementor-widget-rs-contact-box\" data-id=\"73c823b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"rs-contact-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\r\n\r\n\t\t<!-- Style 1 Start -->\r\n\t\t<div class=\"rs-contact-box\">\r\n\r\n\t\t\t\t\t\t<div class=\"address-item vertical boxstyle1\">\r\n\r\n\t\t\t\t\t\t\t            <div class=\"address-icon\">\r\n\t\t            \t\t\t            \t\t<i class=\"fa fa-phone\"><\/i>\r\n\t\t            \t\t\t            <\/div>\r\n\t\t            \r\n\t\t            <div class=\"address-text\">\r\n\t\t            \t\r\n\r\n\t\t            \t\r\n\r\n\t\t            \t\t\t            <\/div>\r\n\t\t        <\/div>\r\n\t\t\t\t\t<\/div>\r\n\r\n\t<!-- Style 1 End -->\t\r\n\t\t\r\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e76d9e elementor-widget elementor-widget-heading\" data-id=\"4e76d9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Have any Questions?\nCall us Today! <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34f2541 elementor-widget elementor-widget-heading\" data-id=\"34f2541\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">011 325 2480 <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0f548ce e-flex e-con-boxed e-con e-parent\" data-id=\"0f548ce\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3288d8b elementor-widget elementor-widget-heading\" data-id=\"3288d8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Helpful Links<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bea7ca2 e-flex e-con-boxed e-con e-parent\" data-id=\"bea7ca2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0506065 e-con-full e-flex e-con e-child\" data-id=\"0506065\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f5d4de7 elementor-widget elementor-widget-image\" data-id=\"f5d4de7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"308\" height=\"56\" src=\"https:\/\/www.dkalmin.co.za\/wp-content\/uploads\/2026\/02\/SAIPA-Logo-2.png\" class=\"attachment-large size-large wp-image-17776\" alt=\"\" srcset=\"https:\/\/www.dkalmin.co.za\/wp-content\/uploads\/2026\/02\/SAIPA-Logo-2.png 308w, https:\/\/www.dkalmin.co.za\/wp-content\/uploads\/2026\/02\/SAIPA-Logo-2-300x56.png 300w\" sizes=\"(max-width: 308px) 100vw, 308px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Audit Reviews | Compilations | Audits As registered members of the Independent Regulatory Board of Auditors (IRBA), South African Institute of Chartered Accountants (SAICA) and South African Institute of Professional Accountants (SAIPA) we practice as auditors and accounting officers for companies, trusts and Close Corporations. We have extensive resources within our company which enable us&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":13468,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-13597","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/pages\/13597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/comments?post=13597"}],"version-history":[{"count":27,"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/pages\/13597\/revisions"}],"predecessor-version":[{"id":17934,"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/pages\/13597\/revisions\/17934"}],"up":[{"embeddable":true,"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/pages\/13468"}],"wp:attachment":[{"href":"https:\/\/www.dkalmin.co.za\/index.php\/wp-json\/wp\/v2\/media?parent=13597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}