Audit and compliance insights
Xolani Mgijima · Loft Proposal Legend Jarful · Port Elizabeth
Understanding an independent review
An independent review is a lighter form of assurance than a full statutory audit, suited to smaller companies that fall below the audit threshold. The reviewer performs enquiry and analytical procedures and issues a review conclusion. It is a cost-effective way to give stakeholders comfort over the financial statements while meeting the requirements of the Companies Act.
Why strong internal controls matter
Reliable internal controls protect an organisation from error and irregularity and make financial reporting more accurate. Clear approval limits, segregation of duties and regular reconciliations reduce risk. A compliance review can identify gaps in your control environment and provide practical recommendations that strengthen governance over time.
Meeting your compliance obligations
Businesses in South Africa must meet a range of reporting and regulatory obligations, from Companies Act filings to sector-specific rules. A structured compliance audit maps your obligations, tests whether they are being met, and highlights areas that need attention. Staying compliant reduces the risk of penalties and supports a good standing with regulators.