Company Overview

The company is a professional service company which is a provider of support professional financial services. The company is domiciled in South African and the industry which it operates is accounting and advisory. The firm offers different types of support, professional financial services. These are as follows:

• Bookkeeping
• Financial Accounting and Reporting
• Taxation (All Types of taxation imposed by the South African Revenue Services (SARS))
• Payroll processing and reporting.
• Unemployment Insurance Fund (UIF) and Workmens Compensation (WCA)
• Financial Management Advisory
• Financial Advisory Consultancy
• Valuations
• Mergers and Acquisitions
• Secretarial Services (Companies Act and CIPC Compliances)
• Governance and Legislative Compliances

The industry is regulated by the South African Institute of Chartered Accountants (SAICA) and therefore the firm must ensure its adherence to all requirements of SAICA. Both directors are members of SAICA and at date of business plan and is in up to date with SAICA’s requirements to remain members of the professional body.

The accounting sector is the guarantor of financial reporting standards and performs a critical function in the South African economy. Digital disruption and rapidly evolving technology present the accountancy profession with both substantial opportunities and risks.

The accounting role post Covid has slowly been changing from accountant to financial manager. Businesses now want accountants with diverse skills, who are more relevant and strategically focused. They want pre-emptive problem solving and a personal relationship.

According to recent statistics, there is a high demand for the skills of accountants in the country. The latest youth labour statistics show that of the country’s working-age youths (15 to 34 years), less than one in three is employed. No wonder ‘not being able to find a job’ is among their top three fears. Not only is South Africa in desperate need of more chartered accountants, but recent surveys also show that they are among the top 10 vacancies employers battle to fill.

In recent months (October 2023), SAICA [CAs(SA)] have earned the top position in a groundbreaking global professional trust survey conducted by Edelman, a respected research firm, on behalf of Chartered Accountants Worldwide (CAW).

The industry, however, does have increased regulations through various regulations, accounting pronouncements and standards as well as legislation such as Income Tax Act and related SARS regulations. These legislations and regulations are continuously changing to the needs of the economy and government fiscal policies, the firm (partners and all staff) ensures that it is acquainted with these regulations, and it fully implements them on all levels.