Accounting & Financial Advisory What is it we do?

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Accounting & Financial AdvisoryWhat is it we do?


Fixed Asset Management Services

These fixed asset management services would be suitable to address clients needs whether a client is preparing for a major acquisition,

• improving financial reporting standards to comply with new government regulations, or

• needs to document assets for financial reporting purposes.

We see efficient and disciplined fixed asset management processes as key enablers to maintaining quality financial and management information.

We adapt our approach below in line with the specific client's requirements.

Audit Readiness

The Audit readiness service would be suitable to address clients needs whether a client is

preparing for an audit,

trying to improve the previous audit report and findings, or

trying to decrease audit fees due to efficiencies on the client side.

Audit readiness service allows for the client to prepare to ensure a more efficient and effective audit is experienced by both the client and the auditors.

ScopingProject

planImplemen-

tationReporting

• Utilising our knowledge of audit procedures to understand the issues

• Documents the “as is” and status of records

•

• project plan and timelines to assist in resolving the issues identified

• Agree timelines, deliverables and outcomes

• Action the project plan

• Report findings at regular intervals to address critical issues

• Audit file for auditors

• Root cause analysis report

http://www.multichoice.co.za/multichoice/view/multichoice/en/page44115

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While many write off Africa as the continent of despair, other enterprising individuals and organisations have recognised the huge, untapped potential of Africa and are actively pursuing business ventures across the continent.

Many of our South African clients are expanding into Africa however they are faced with critical skills shortages on a daily basis.

While it is essential to capacity build in these countries, our clients require temporary assistance across all our products and services. We work together with our Deloitte counterparts across the Deloitte/Africa footprint in bringing solutions to our clients

Account reconciliation and reconstructionWithout the right skills, the right people, and the right solutions, it’s just not the same.

Often our clients experience backlogs in financial processing and reporting and inaccurate management information.

In these situations, often accounts are not reconciled timeously and in some cases even the balance sheet requires reconstruction at a specific date.

Assisting in Africa

• IFRS compliance

• A dedicated team of experts in preparation of financial statements

• CaseWare, a globally recognised software tool, is utilised to ensure maximum efficiency.

• Many of the traditional manual time consuming tasks associated with financial statements are automated. This leads to a cost saving

• Built-in validation in CaseWare increases accuracy and reduces reviewing time by more than half

• Last minute adjustments and changes can be done faster.

• Automated lead schedules and drill downs means we can easily show how figures are calculated. Preparation of an electronic audit file for the auditors

Financial statement preparationWhy should clients outsource preparation of financial statements ?

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Accounts receivable management services

Collecting monies due to an organisation is critical to the working capital management and cashflow planning of any management team.

Whether the issue lies with long overdue accounts or reconciliations, the continuity of the business is dependent on sound cashflow management .

There after, we would be perfectly placed, given the knowledge of the business and experience gained on other similar assignments, to assist with a final stage of engaging with customers.

Engage

•Constructively engaging with major retailers to assist in recovering outstanding amounts

Policies, procedures, systems descriptions and controlsIncreased pressure is being placed on the governance bodies of our clients to ensure sound accounting environments.

Often clients do not have sufficient resources to either update their current policy documents or draft new manuals. Our simple tailored approach is documented below:

Set up• Identify key decision makers•Establish level of detail required

Information gathering

•Obtain all policy manuals currently in the business

•Conduct interview with staff to establish the current status quo "As-is" way of performing the duties

Drafting

•Perform a Gap Analysis comparing the As-is with best practice

•Prepare recommendations•Engage with management as to which recommendations should be adopted

•Draft updated documents for approval

Concluding•Client review and sign off of the deliverable

•Load on company intranet

http://www.goldfields.co.za/index.php

http://www.goldfields.co.za/index.php



BBBEE

The South African business environment is often feared by many for its strong regulatory requirements. The most feared legislation at the moment is Broad Based Black Economic Empowerment Act (B-BBEE). Clients are often not clear on how this legislation affects their business and they ask the following questions:

• Does B-BBEE apply to my business?

• What is required for compliance?

• Do I need to have a B-BBEE certificate?

• What is a good B-BBEE level for a company?

• How do I improve my B-BBEE rating?

Secondments

The specialist, up-to-date knowledge of our people, comprising Chartered Accountants, Chartered Management Accountants and Financial Consultants, is merged with our experience in solving complex business problems to provide clients with the solution they need, and not only an “extra pair of hands”.

We have played a critical role at some of our key clients by seconding Chief Financial Officers, Financial managers, Accountants and lower level bookkeepers.

We provide knowledge and experience, not just people – and we provide it right now!

We recognise that some things in business are difficult to control and cause unnecessary pressure. Whether it’s

• looming deadlines, • resourcing issues or • Compliance adherence,

our role is to work with our clients, by providing a solution-orientated approach and the best resources, to help relieve this pressure – whether the problem we’re tackling has already occurred or whether we are proactively assisting you to prevent a difficult future.


Contacts

Partner & director

Trish WilsonPartner+27(0)82 570 1904

Sumendra NaidooDirector+27(0)84 600 0606

Senior Managers

Shaun Govender+27(0)79 524 0406

Bongani Nkasana+27(0)71 017 0431

Muneer Noormohamed+27(0)84 690 0700

Mohammed Shaikh+27(0)82 616 1085

Lara Mackay+27(0)82 562 5287