The cohesive RCA team of highly skilled, highly trained professional Chartered Accountants and field experts ensures rapid delivery of the best cost-effective solutions for our clients without compromising on quality. These personnel customise RCA’s processes to suit the needs of each of our clients providing professional consulting expertise in the following areas:
COMPILATION AND REVIEW OF ANNUAL FINANCIAL STATEMENTS
The RCA and Company Inc’s approach to preparing AFS is a detailed process that encompass a wide range of activities. we streamline our AFS preparation methodology to best-fit the requirements of the client. Our AFS compilation and review methodology is focused on providing the client with tailored solutions to the preparation of financial statements that are compliant to applicable legislation and other prescripts. Our approach will not only focus on ‘getting the job done’, but will also ensure there is proper processes are followed. In our reports we will highlight the identified weaknesses and recommendations or improvement areas so that breaches will not recur in the future. The proposed solutions will ensure our clients are able to perform best practice management processes sustainable in the future. We do assist both our private sector clients as well as our national, provincial and local government clients with AFS Preparation which include but are not limited to the following:
- Examination of financial statements
- Financial Statement preparation
- Identification of ineffective processes or operational deficiencies
- Analysis and understanding of your financial records
- Identifying key areas for improvement
- Assessment of business risks and business process economy, efficiency and quality
- Assessing the risk of fraudulent or other illegal activities within your company
- Analytical examination of income and expenditure
- Advising on compliance with laws and regulations
- Assist with the preparation of responses to informal queries, management letters and the Auditor General’s report with regards to the annual financial statements
Annual financial statements tailored for our public sector clients
As part of our year end support, we assist our public sector clients with the review, compilation and preparation of GRAP Compliant Annual Financial Statements and our services include but are not limited to:
- Preparation of current accounting policy documents in alignment with current year GRAP amendments.
- Assisting the municipality on implementation of GRAP and mSCOA standards and any new Accounting Standards as approved by the ASB for implementation in the Financial Year as well as National Treasury guidelines and requirements
- Preparation of Annual Financial Statements using a GRAP compliant Excel tool containing linkages to substantiate the amounts and balances contained therein.
- In the event that the municipality’s records are not sufficient for disclosure purposes, we will inform and advise the municipality of such instances and assist in the appropriate actions to address such shortcomings.
- We will assist with the preparation of responses to informal queries, management letters and the Auditor General’s report with regards to the Annual Financial Statements
- We will also assist with the Compilation of audit working file
- We will ensure that the financial statements balance with the system generated the trial balance
- We will also perform any other actions that will ensure that the quality of the financial statements is enhanced prior to submission to the auditors.
- We will ensure that prior year queries raised by the Auditor General are correctly addressed during the preparation of the annual financial statements
- Our team will ensure that all Financial Performance items have been reconciled
- Assist with the current budget structures to ensure compliance to GRAP and mSCOA requirements
- Transfer of skills to the municipal officials in line with the scope of work