Organization: ICA – Foundation / NPO Financial Year: 1 March – 28/29 February Audit Type: External Independent Audit Applicable Standards: IFRS for SMEs / Generally Accepted Accounting Practice (GAAP) in South Africa 1. Objective of the Audit The purpose of this audit is to: Provide an independent opinion on whether ICA’s financial statements present a true and fair view of its financial position and results of operations. Assess internal controls, financial management systems, and governance practices to recommend improvements if necessary. Report findings to ICA’s Board, management, and funders as required2. 2. Scope of the Audit The auditor will examine, verify, and report on the following: A. Financial Records General ledger, journals, and supporting documentation Bank and cash reconciliations Accounts receivable and payable Fixed assets, inventory, and other assets Liabilities and provisions Prepaid expenses and accruals B. Reporting Prepare audited financial statements including: Statement of Financial Position Statement of Comprehensive Income Cash Flow Statement Notes to the Financial Statements Issue an audit report (unqualified, qualified, adverse, or disclaimer) Prepare a Management Letter highlighting findings, recommendations, and areas for improvement 3. Audit Deliverables Draft Audit Report: management review Final Audit Report & Financial Statements: Submitted to ICA Board and funders Management Letter: Observations, recommendations, and risk assessment Donor Schedules (if applicable): Detailed reporting per funder requirements 4. Additional Requirements Auditors must be IRBA-registered and have experience with NPOs / grant-funded organizations Audit to cover the full financial year: 1 March – 28/29 February Auditor may request access to digital accounting systems, bank statements, payroll, contracts, and grant documentation Collaboration with ICA staff for clarification and documentation requests is expected
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Good day, I am in the process of purchasing a home and need financials for my business. The usual requirements are: • Latest 2 years financial statements (Signed & audited) • Latest 2 years ITA34 (SARS) • Letter from the accountant confirming income & shareholding percentage
I need financials for 2 for both personal and business, 6 management account and letter from the accountant (for drawings)
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Good evening, just kindly and humbly asking for your endorsement as regard to my new company which started to have a year (12 months). However, I need to be helped for names accountants of a legal registered accounting firm, stamped and signed. This therefore will help my new company to register a law firm going forward.
My company is not active, but the status is active in the CIPC data base. I have been using the business account for my personal use as it is the only bank account I have. This has led to multiple penalties from SARS for not being able to file for tax returns. I need help to stop penalties accumulating or even lodge a waiver.
