Auditing

If you’ve ever wondered about the difference between internal and external audits, you’re not alone. It’s one of the most common questions we get from business owners — especially those navigating audit requirements for the first time or growing into more complex operations. The short answer? Both are types of…

If you’re preparing for your first audit — or even your fifth — one of the biggest questions on your mind is probably:“How long does an audit take?” The answer depends on a few key factors, but in most cases, the timeline ranges from a few weeks to a few…

If you run a business in South Africa, you’ve probably heard about audits — and maybe even felt a little unsure about what they really involve. Don’t worry — you’re not alone. Many business owners, especially those growing fast or working with external funders for the first time, start wondering:…

If you’re running a business in South Africa, chances are you’ve either gone through an audit or are preparing for one. And one of the biggest questions that comes up is: how much does a financial audit actually cost? The short answer? It depends. But don’t worry — in this…

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about Audit deadlines and reports submitted to the Legal Practice Council. The auditor of a legal practitioner’s trust account must ensure that they furnish the Council with an audit report…

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about audit preparation for attorneys, and in particular, the documents you want to prepare in order to get ready for an audit. 1. IT3(b) CertificateYou will need to request your…

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about the main issues that we as auditors pick up when we audit the trust accounts for attorneys. The trust audit for an attorney is guided by the International Standard…

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about winding up audits.  To de-register an estate agency firm, the auditor needs to submit the following:  Submit a closing/winding-up audit report. What is a “winding up report”?  A winding…

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about audit requirements for property practitioners. According to the Property Practitioner Act, every property practitioner must be audited whether they are operating as a sole proprietorship, a company, a close…

Interacting with entrepreneurs is always enlightening because no two business people are ever the same! Their approaches to systems, processes and controls often differ based on personality and background. Some business owners like to set up sturdy business systems from the onset so that when the boom times come, there…