Industry Application

We have worked with several owner-managed and family-owned businesses for many years. We understand that running your own business, or being in business with family, comes with many advantages and challenges.
Be it a private company, close corporation or co-operative company, we have the necessary expertise to provide the services you need with more than 45 years of experience. Depending on your industry and structure (e.g. one company or a group of companies) the reporting needs will be different to that of listed entities. For instance, the requirement to apply IFRS vs IFRS for SMEs is a service that GKL is well acquainted with. At GKL, we can assist you in embracing opportunities and challenges. Using the combined knowledge and experience of our staff and partners, we can provide tailored audit, tax, and financial accounting advisory services to achieve your goals.

We provide a wide range of guidance in the following areas:

• Accounting and bookkeeping
• Tax and statutory requirements
• Business management and advisory
• Financial statements compilation

Agriculture is one of the largest contributors to the annual GDP growth for South Africa. At GKL, we have a passion for agriculture, being based in Brits where most of the area is covered in agricultural land that has been passed down through generations. We have built an extensive agricultural client network throughout most of the provinces (North-West, Gauteng, Limpopo, and Western Cape) in various farming sectors
(horticulture, livestock, and crops) which enables us to provide our clients with a seamless and consistent service. We can assist you in embracing opportunities and challenges. Using the combined knowledge and experience of our staff and partners, we can provide tailored audit, tax, and advisory services to achieve your goals.

We provide a wide range of guidance in the following areas:

• Accounting and bookkeeping
• Tax and statutory requirements
• Business management and advisory
• Financial statements compilation

We, at GKL Auditors, understand the unique risks associated with legal practitioner’s trustaccounts, and follow a detailed audit approach as set out by the Independent RegulatoryBoard for Auditors (IRBA). We have built an extensive client network with a wide range of legal-specific accounting software. With the combined knowledge and experience of our staff and partners, we provide bookkeeping and tax services to clients no matter what accounting software is used. An Attorneys Trust Audit is a requirement of the Attorneys Act of South Africa. An annual audit report is prepared following this audit and is to be submitted within 6 months of the Attorneys’ financial year-end. Further to this the Law Societies of South Africa also require a Trust Audit. Given the risk, an Attorneys Trust Audit is a comprehensive audit that covers all the major risk areas surrounding holding third party funds in a fiduciary capacity At GKL Auditors, we attend courses each year to keep up to date with regulatory changes associated with Legal Practitioner’s trust audits.

Our services to Legal Practitioners include:

• Opening practice audit
• Closing practice audit
• Annual Attorneys trust audit
• Assisting with enquiries from the Legal Practice Council
• Assisting with enquiries from the Legal Practitioners Fidelity fund
• Accounting and bookkeeping
• Tax and Value added tax related services
• Financial statement compilation

We understand the unique risks associated with estate agents’ trust accounts, and follow a detailed audit approach as set out by the Independent Regulatory Board for Auditors (IRBA). We have built an extensive client network with a wide range of accounting software. With the combined knowledge and experience of our staff and partners, we provide bookkeeping and tax services to clients no matter what accounting software is used. Every Property Practitioner that is entrusted with third-party funds is required to have an Property Practitioner Trust Audit. This is a requirement of the Property Practitioners Regulatory Authority as well as the Property Practitioners’ Act. When Trust money is paid to a Property Practitioner this is required to be held in trust and is to be kept in trust until the Property Practitioner is legally entitled to it, or is instructed to make payment therefrom to any person. The trust and business accounts/records are to be audited annually within 6 months of the financial year-end, and a report confirming this is to be submitted to the PPRA by the appointed Auditor. We attend courses each year to keep up to date with regulatory changes associated with Property Practitioners’ trust audits.

Our services to Property Practitioners include:

• Opening practice audit
• Closing practice audit
• Annual Property Practitioners’ trust and business audit
• Assisting with enquiries from the PPRA
• Accounting and bookkeeping
• Tax and Value added tax related services
• Financial statement compilation

We assist schools with their audits and guide them in remaining compliant as well as helping schools improve their internal systems to ensure continued compliance. All schools are required to be audited in terms of S43 of the South Africa Schools act of 1984. It is important to note that the exemption provided for in S43(2) for not auditing a school generally needs to be approved by the MEC in most provinces (as clarified by circular M3 of 2017). What are the benefits of letting us help you with your annual audit? As a firm we audit a variety of public schools such as fee paying schools, no fee schools, schools that require Exemptions Audits as well as schools that deal with additional Grade R reporting and Nutrition Allowances. In addition to the various types of schools we also work with the various systems used by Schools across South Africa such as Pastel and Quickbooks or even the specialist school accounting systems such as D6. We employ modern processes to ensure our audits remain a cost effective option for schools with a variety of budgets and a variety of complexities.

What our Schools Audits Include: The Audits generally depend on the requirements and complexities of the School and the School Governing Body. This includes items such as:

• Audit Report
• Report to SGB (Valuable report detailing items found during audit with suggested improvements)
• Grade R Reporting
• Exemptions Audit
• Legal compliance with the SAS Act and other Circulars