Independent Review Services
A cost-effective alternative to a full audit for entities that qualify under the Companies Act. We provide independent, objective reviews of your annual financial statements.
What is an Independent Review?
An independent review is a limited assurance engagement performed on the annual financial statements of a company. It is required under the South African Companies Act (No. 71 of 2008) for certain private companies and personal liability companies that do not meet the threshold requiring a statutory audit.
Unlike a full audit, an independent review is less extensive in scope but still provides stakeholders — including shareholders, lenders, and directors — with a meaningful level of assurance that the financial statements are free from material misstatement.
Who Qualifies?
Private companies and personal liability companies with a Public Interest Score (PIS) below 350 that are not owner-managed.
- • Private companies (Pty Ltd)
- • Personal liability companies (Inc.)
- • PIS between 100 and 349
- • Not required to have a statutory audit
What We Review
Our review covers the complete set of annual financial statements prepared in accordance with IFRS or IFRS for SMEs.
- • Statement of Financial Position
- • Statement of Profit or Loss
- • Statement of Cash Flows
- • Notes to the Financial Statements
Our Process
We follow the International Standard on Review Engagements (ISRE 2400) to ensure a rigorous and consistent review process.
- • Engagement planning & risk assessment
- • Analytical procedures
- • Enquiries of management
- • Review conclusion & report issuance
Review vs Audit
An independent review offers meaningful assurance at a lower cost and with less disruption to your operations than a full statutory audit.
- • Limited assurance (vs. reasonable assurance)
- • Faster turnaround time
- • More cost-effective
- • Compliant with Companies Act requirements
Key Features
- Companies Act Compliant: Our reviews are conducted in full compliance with the South African Companies Act No. 71 of 2008 and the Companies Regulations.
- ISRE 2400 Standards: All engagements follow the International Standard on Review Engagements for quality and consistency.
- IFRS & IFRS for SMEs: Financial statements reviewed against the applicable reporting framework for your entity size and type.
- Independent & Objective: Our practitioners maintain full independence from management to ensure an unbiased review conclusion.
Ready for Your Independent Review?
Contact us to determine if your company qualifies and to get a quote.
Get Started