In terms of the Close Corporation Act, 1984 we are required to determine that the financial statements agreed with the accounting records of the corporation, to review the appropriateness of the accounting policies represented to us as having been applied in the preparation of the financial statements and to report to the corporation in respect of these matters. Written representation on certain matters will be requested from the members.
We are also required to take certain action if during the performance of our duties as accounting officer we become aware that:
a provision of the Close Corporation Act, 1984 has been contravened.
a change to the particulars in the founding statement has not been registered.
the financial statements indicates that liabilities of the corporation exceed its assets.
the financial statements incorrectly indicate that the assets exceed liabilities.
ACCOUTING - You require us to compile financial statements in conformity with General Accepted Accounting Practice(GAAP) and International Financial Reporting Standard(IFRS) that is appropriate to the business. Whilst we may examine the accounting records and make certain enquiries in order to facilitate this work., we shall not carry out an audit.
AUDIT - If any such work is required, specific agreement should be reached with the members of the corporation. Appropriate subject matter should be incorporated in the engagement statement on Auditing Standard AU211 and other consequential amendments made to this letter.
TAXATION - It was agreed that we would assist with the following taxation services
• preparation of your returns( IT 12,14, VAT,IRP6 and PAYE) and their submission to the SARS Authorities.
• Submission of provisional tax payments.
• Checking of assessments and agreement of liabilities with SARS.
• Acting as your tax advisors on all matters which you may specifically refer to us.
Our fees are computed on the basis if the time spent on your affairs by staff. Unless otherwise agreed, our fees will be charged separately for each classes of the work agreed and will be billed at appropriate intervals during the course of the year.
CONTRAVENTION OF THE CLOSE CORPORATION ACT - If in the performance of any services additional to the statutory duties of an accounting officer, we become aware of any contraventions of the Close Corporation Act we will report them to you immediately.
1. Monthly Bookkeeping Services
2. Secretarial Services: Registering of companies, annual returns
3. Monthly VAT Returns
4. Management Accounts
5. Financial Statements
6. Annual Income Tax Returns
7. Monthly Payroll Services
8. Provisional Tax
VXK BUSINESS CONSULTANTS
104 Rainbow Villas, Groblers Park, Rooderpoort, 1724
Reg no: 2008/177814/23
Telephone: +27 11-070-7036
Cell Contact: +27 83-463-9371