Annual Financial Statements
Annual financial statements are a Companies Act requirement — but done properly, they are also the document that unlocks finance, satisfies SARS, and tells you what your business is actually worth. We compile AFS on CaseWare under IFRS for SMEs, the standard trusted by banks and auditors.
Why the standard and the software matter
Banks, investors and SARS all read financial statements against a known framework. Compiling on CaseWare under IFRS for SMEs means your AFS follow the same structure and disclosure discipline the big firms use — which shortens due diligence, speeds up credit applications, and removes questions before they're asked.
AFS and your tax return, reconciled
Your ITR14 is assessed against your financial statements, and mismatches trigger verifications. Because we prepare both from the same working papers, the accounting profit, tax computation and return reconcile line by line — no orphan differences for SARS to query.
Does your company need an audit?
Most owner-managed companies don't — the Companies Act's Public Interest Score determines whether you need an audit, an independent review, or a compilation. We calculate your score, tell you the minimum requirement, and prepare accordingly, so you're not paying for assurance you don't legally need.
Common questions
- How quickly can you produce AFS?
- From clean books, typically two to three weeks depending on complexity. If the books need catch-up work first, we quote the clean-up and the compilation together so there are no surprises.
- My bank is asking for signed AFS — can you help at short notice?
- Often, yes. Tell us the deadline upfront; urgent engagements are possible where the underlying records allow it.
- Can you prepare prior-year statements that were never done?
- Yes. Multi-year catch-up compilations are common, particularly for companies regularising their CIPC and SARS compliance.