The Eccentric Business gives a complete range of expert business advisory services, including independent reviews to dynamic little and medium-sized entities, and to huge organizations:
Bookkeeping and financial advice
Payroll processing audits
Tax assessment compliance audits
Corporate governance audits
Business hazard reviews
Generally, all organizations have been required to be audited. The new Companies Act has presented another arrangement of deciding if an organization is required to be audited or whether it needs to have an independent review. All companies are currently required to calculate a “Public Interest Score” (PIS) toward the finish of each financial year to decide if they will require audited financial statements and which financial reporting standards will apply.
To sum up: If your business is a (Pty) Ltd or a nearby company with a PIS of under 350 then you don’t require an audit any longer and may just need an independent review. This will save you a lot of audit charges you used to need to spend and the problem of going through a full audit as an independent review is substantially less burdensome and time consuming.