AUDITING & ASSURANCE
Statutory and Voluntary Audits

The new Companies Act, no 71 of 2008 (“the Act”), requires certain companies to be audited (statutory audits) where such an audit is desirable in Public Interest, for instance companies listed on the Johannesburg Stock Exchange, State-Owned companies as well as some other companies (including Close Corporations) regarded as “bigger” entities. Companies need to calculate their “Public Interest Score” (PIS) to determine wheter they qualify as a “bigger” entity.

The Act also makes provision for companies other than the above-mentioned, to choose to be audited (voluntary audits). We can assist you in deciding which section of the Act is applicable to your company in this regard.
Independent Review

Certain companies must be “Independently Reviewed” (IR) based on their PIS. An IR is not an audit, as substantially fewer procedures are performed and a Review Report rather than an Audit Report is issued.








Attorney- and Estate Agent

These entities need to be audited in terms of the specific acts applicable to them, as governed by their respective statutory bodies. The auditor issues industry specific reports for these entities.

VDJ performs these audits in accordance with the rules and regulations of The Law Society and The Estate Agency Affairs Board and will provide you with sound advise in adhering to these strict statutory requirements.


Body Corporates (BC)

A Sectional Title Development or Housing- or Apartment Complex (Scheme), is managed according to the Sectional Titles Act, No. 95 of 1986 (the Act). The BC manages and administers the scheme on a day to day basis with the main object of promoting and protecting the communal interest of owners and occupants. In terms of the Act, the books and accounts of the BC must be audited, unless the scheme has less than ten units.

VDJ have vast experience in this field to assist the trustees or the managing agents of the BC with the audit function and preparation of annual financial statements.
Home Owners Associations (HOA)

HOA are non-profit companies and fall under the rules discussed under “Statutory Audits”. These companies have similar objects to body corporates as far as the residents of the housing development are concerned.


Other Assurance Services

Companies find themselves encountering corporate governance and financial reporting challenges. Our services range in nature and are specifically designed to meet your needs. We can provide you with the Quality Assurance Review services you need to ensure optimal performance of your internal audit function, thus assisting you in achieving strategic goals and objectives.

VDJ can provide you with an internal audit design and implementation. In partnership with you, we will evaluate what you have in place, providing solutions and skills.The services we offer will be tailored to you and your needs.
BEE Verifications

VDJ Pretoria, in cooperation with VDJ Witbank, can assist with IRBA approved B-BBEE Certificates. We offer the full range including EME-, QSE- and generic certificates.
ACCOUNTING
Financial Statement Compilation

VDJ can help you to prepare Financial Statements (FS) for your business. Most FS`s have a statement of assets and liabilities (balance sheet), statement of income and expenses and profit or loss for the year (income statement) and statement of cash flows and notes to these giving further explanations.

Most businesses need Annual Financial Statements (AFS) to be presented to SARS when submitting annual Income Tax Returns. Financial institutions usually also require AFS when reconsidering bank overdraft facilities on an annual basis. Applying for credit e.g. buying/leasing new equipment for your undertaking usually requires FS or AFS.

Some companies and close corporations are required to present more formal FS in terms of the Companies Act of SA – these FS must then be prepared according to “ International Financial Reporting Standards” (IFRS) or IFRS for Small and Medium – Sized Enterprises (SME`s). VDJ can assist you in deciding which framework is applicable to your entity.
Management Accounting

VDJ can prepare all sorts of reports that you need to assist you to manage your business on a daily / monthly / quarterly basis.

These reports are custom-made to suit your unique needs – debtor-, cash-, credit management, cash flow forecasting (budgeting), etc.
Bookkeeping

VDJ performs bookkeeping functions according to your individual requirements, including Cash books and Bank Reconciliations, Debtors- Creditors and General Ledgers, Trial Balances and FS.
Budgets

VDJ can assist you in preparing tailor-made budgets for management- and/or finance application purposes.
Value Added Tax (VAT)

VAT returns must be submitted by al “VAT-ABLE” entities with a turnover in excess of R1 million in any 12 month period. Returns are generally submitted every 2 months.

NB: Not all VAT paid on purchases can be claimed on your VAT return. VDJ will gladly assist you with your VAT related obligations.
Graphical Analysis of Business Results

To enable you to better interpret your Entity’s results, we prepare tailor-made reports and graphs monthly / quarterly / annually.
ESTATES AND TRUSTS
Estate Planning

They say there are only two certainties in life - death and taxes.

Estate planning attempts to minimise taxes and costs, to protect your assets and to ensure that your family and other beneficiaries benefit at the time of your passing, in a manner that is in accordance with your intentions.

VDJ can assist in managing your estate so that you, your family and other beneficiaries may enjoy the maximum from your estate during your lifetime and after your death, no matter when death may occur.
Administration of Estates

The administration of a deceased estate is the process by which all the assets of the deceased are temporarily taken under control by the executor, the liabilities of the deceased paid out from such assets and the remainder of the assets distributed to the heirs.

VDJ can assists by acting as executor or advising appointed executors on the conduct of their duties, to ensure compliance with the applicable laws.
Trusts

The advantage of a trust is that there is separation of ownership and enjoyment of assets. This means that the beneficiaries of a trust can enjoy the use and benefits of the assets, without being saddled with the risk of owning the asset.

If there are risks associated with your estate, the use of a trust is also a way to protect certain assets.

Another advantage of a trust, especially for estate planning purposes, is that all assets that grow in value over time are separated from your estate. The growth in value of these assets are therefore excluded from your estate for estate duty purposes, as the growth takes place in the trust.

VDJ can assist in setting up and registering the trust in accordance with your wishes. We can also audit or compile the financial statements of the trust and advise on the most appropriate ways to minimise taxes.

Testamentary Succession and Wills

There are many good reasons for having an up-to-date and valid will, including the ability to choose your heirs, beneficiaries, the trustees in a trust and the executor. You may also want to include special instructions and directions in your will.

VDJ can assist to ensure that the will is valid, comprehensive yet simple, that all references in the will to assets and other matters are clear and accurate. We can assist in regularly reviewing the will and ensuring that it is up to date.
OTHER
Payroll

If your business has one or more employees, you should have a payroll system in place. An automatic payroll process helps you comply with legal and tax requirements and simplifies the process of paying your employees. Many employers outsource the payroll function to an outside vendor or use payroll system software instead of relying on manual processes. VDJ meets these requirements, and can assist you with all your payroll needs.
Companies & Close Corporations

We at VDJ understand that keeping company statutory details and records up to date can be overwhelming. Our staff are equipped to provide the necessary statutory services to ensure that your entity complies with the requirements of the Companies Act.

Our services include, but are not limited to:
• Administration and maintenance of company records
• Registration of companies
• Conversion of companies and close corporations
• Administration of share transfers
• Registration of changes in the entity at CIPC
• Renewal of the CIPC annual returns
• Re-instatement of deregistered entities
• Deregistration of entities
Trusts

VDJ can assist with the following statutory services for your trust:
Registration of trusts
Administration of trusts
Registration of changes to the trust deed, trustees and beneficiaries at the Master of the High Court
Deregistration of trusts
Tax

As a registered tax practitioner we are equipped to deal with all your tax needs, ensuring you receive the most up-to-date information relating to you or your business.

VDJ can assist you with the registration of all types of tax, submitting of returns, reviewing of assessments and the submission of objections.
Tel: (+27) 12 346 1043/4
Fax: (+27) 12 460 7412

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