Our Services

Governance, risk and compliance (Internal Audit)

Baloyi and Partners Accountants sees itself within the context of internal audit as a voice that evaluates an organization operation in the form of providing a report that shows either the efficiency or non-efficiency of the operations of the organization.

Our difference

BPA aims at being in position to rate the efficiency of the organization performance through running negative tests more than positive test on the internal controls. We believe that priority should be on areas of weaknesses first and also on areas where organizations are performing well.

Our reporting focuses on matters that the organization is struggling with the most and they weaknesses have the potential of even forcing the organization to close operations if not addressed. We put great emphasis on significant risks in the operations analysis of the organization.

All our reports must have a pedometer that rates all the control environment levels showing summaries of areas of weaknesses and the comparison is made to similar organizations performance and expected areas of operational efficiency.

Our targeted clientele

One of our main clienteles is the public sector with specific emphasis on Municipalities and Public entities.

VAT Management SERVICES

We consider this service to be very critical to all businesses in the private sector as if a company does not have a proper monitoring system at place, the organization can face going-concern issues due to a huge debt that is accumulating if not making regular payments.

Our difference

BPA is determined to assist clients to better manage VAT and ensuring that the source data of the transactions of the organization are accurate, valid and complete. One of the most important documents is the bank statements of the organization as well as data used to be captured in the accounting records for the organization.

Our primarily objective is to assist our clients in ensuring that VAT does not go unmonitored and there’s regular tracking of payment to be made to SARS and funds to be received. Because, if VAT is not properly monitored then the business continuity of the organization could be compromised.

Furthermore, the data from the accounting records of the client must be valid in which VAT has been claimed or raised.

Our targeted clientele

One of our targets is SMME’s which have a turnover of under R50 Million. The SMMEs are in the following sectors;

  1. Construction
  2. Energy
  3. Skills Development
  4. Professional Services

PREPARATION OF FINANCIAL STATEMENTS

We understand the importance of record-keeping, financial reporting and complying with the requirements of Companies Act and the accounting frameworks. Financial records are the primary language between your business and the majority of the stakeholders (the taxman, the investors, the funding providers etc.)

Our difference

BPA offers an end to end solution when it comes to financial reporting. We help your business with:

  • developing a standard chart of accounts appropriate to your business model
  • developing framework compliant accounting policies
  • establishing standard operating procedures to ensure a strong control environment
  • recording accounting transactions and events from the source to the trial balance
  • preparing bank and other control account reconciliations
  • fixed asset register compilation
  • preparing monthly management reports to aid in mid-year financial analysis and decision-making
  • preparing framework compliant (IFRS, GRAP, IFRS for SMEs) annual financial statements

Our targeted clientele

Our target client base is small to medium entities that require dedicated attention and are looking to focus on scaling their businesses without the distraction of financial reporting demands.

STATUTORY COMPLIANCE

Most individuals tend to think of only SARS when it comes to statutory compliance however SARS is not the only legislated entity whose laws and regulations require compliance. There are other filings which business need to research, understand and comply with for example the Workmen’s Compensation Fund or the CIPC annual returns which may see your business being deregistered if they are not filed.

Baloyi and Partners is your go-to partner for assistance with these matters. We ensure that your business is free from these seemingly trivial but essential compliance requirements.