ANNUAL FINANCIAL STATMENTS

PREPARATION AND SIGNING OFF OF ANNUAL FINANCIAL STATMENTS (AFS)
 

• Independent Reviewers for cc's
• Auditors for Companies

In terms of tax legislation, every business or trust needs to submit annual financial statements. Not all accountants are qualified to sign off certain entities such as Close Corporations, Trusts and Companies.

See our: Table of General Guidelines of what type of qualifications an account needs to fulfill these functions.

If your particular accountant does not qualify this is not necessarily a problem, as those that don't often work closely with an accountant that can fulfill these functions. As more qualified accountants tend to charge more, it could be cost effective to use a more economical person for the other tasks and a professional just to check over it and perform the formalities.

OTHER RESOURCES

Financial Year End - Getting in an interim accounting contractor

XBRL Format Now Required by CIPC for your Annual Financial Statements

Income Statements and Balance Sheets - anybody can understand them

Annual Financial Returns - Pty (Ltd) Companies

The Importance of Annual Financial Statements for SME's

Due Dates for Annual Financial Statements

An Introduction to Close Corporations