List of deliverables. GEYSER & DU PLESSIS Geregistreerde Rekenmeesters & Ouditeure Registered Accountants & Auditors

Transcription

1 GEYSER & DU PLESSIS Geregistreerde Rekenmeesters & Ouditeure Registered Accountants & Auditors List of deliverables This document contains a guideline of documents that the engagement team will need from you to complete the engagement in a timely efficient manner during the audit of your entity.

2 INDEX Accounting software 3 General documentation 3 Property, Plant and Equipment 3 Other financial assets 3 Inventory 4 Trade receivables 4 Bank and Cash 4 Financial liabilities 4 Reserves 5 Taxation 5 Trade payables 5 Employee costs 5 Issued 31 March Your image Our priority. Geyser & du Plessis List of deliverables

3 AUDIT DELIVERABLES To perform your audit in an efficient manner we request that you prepare the following documentation, should it be applicable to your entity, in advance for us. Accounting software A backup copy of your Pastel for the period A backup copy of your Pastel for the current (subsequent) period General documentation Minutes of meetings held for the period A going concern considerations document for future periods for example budgets or management statements Copies of all lease agreements for any equipment hired from another entity/person Property, Plant and equipment An up to date fixed asset register in an electronic format (if necessary we will calculate depreciation) Copies of the invoices of all additions to fixed assets during the current period Copies of supporting documentation for disposals of fixed assets during the current period The insurance policy schedule The valuators report in the case of a revaluation of assets being performed during the current period A lease agreement in the case of fixed assets being leased to an entity/person Other financial assets Investments: a copy of the investment statement at period end reconciled with the general ledger account as at period end Loans to any entity or person including shareholders and directors: the original signed loan agreement indicating the amount of the loan granted, the repayment terms and interest rates, as well as a printout of the loan account in the related entity s pastel at period end including all applicable interest calculations 3 Your image Our priority. Geyser & du Plessis List of deliverables

4 Inventory An electronic inventory list that agrees to the general ledger and the trial balance, specifying the quantity of each item as well as the value used to value the items, at period end Copies of invoices or supporting documents for goods in transit included in the inventory figure List of work-in-progress including supporting management calculations and other supporting documents A detailed list of obsolete stock items and reasons for any inventory written off An authorised price list as at period end Supporting documents for any inventory which is encumbered at period end Trade receivables A customer age analysis in electronic format that agrees to the general ledger and the trial balance at period end (should you not provide us with a Pastel backup) List of bad debts written off and possible irrecoverable debts for the period, as approved by management including all supporting documents i.e. final demand letters being sent, legal representations etcetera. Loans to employees the original signed loan agreement indicating the amount of the loan granted, the repayment terms and interest rates Deposits given to suppliers a statement confirming the amount of the deposit paid Bank & Cash A bank reconciliation as at period end balancing with the cash book and balance in the general ledger account and the trial balance A petty cash reconciliation Bank statements for the entire period and at least one month subsequent to the period end Short term deposits - a copy of the investment statement at period end reconciled with the general ledger account as at period end Financial liabilities The amortisation schedules for all finance leases from the financial institutions as at period end Loans from related entities (Company, Trust or Close Corporation): the original signed loan agreement indicating the amount of the loan granted, the repayment terms and interest rates, as well as a printout of the loan account 4 Your image Our priority. Geyser & du Plessis List of deliverables

5 Reserves in the related entity s pastel at period end including all applicable interest calculations The company register confirming the amount of shares issued, shareholders and current active directors of the entity as at period end Proof that the annual duty for the entity has been submitted and paid up to date Taxation The tax assessment received from SARS, the Provisional taxation assessments or proof of payment and the tax calculation unless we are required to perform all or certain of the aforementioned services Copies of the VAT201 forms for the entire period including a reconciliation between the last submitted VAT201 form and the VAT control account Trade Payables A supplier age analysis in electronic format that agrees to the general ledger and the trial balance at period end (should you not provide us with a Pastel backup) Copies of the statements from the suppliers as at period end to confirm the balance as per general ledger and age analysis Any calculations regarding provisions made in the current period including supporting documentation for the provisions A list of accruals to be processed or provided for at period end with the supporting documentation such as invoices etcetera. Employee Costs Copies of the EMP201 forms for the period Proof that the Workmen s Compensation assessment was submitted and paid during the current period A printout of the employee s accumulated leave as per the leave register as at period end Please remember that this is merely a guideline to ensure that we are able to assign sections and tasks to our team members and to ensure efficiency during the completion of your audit engagement. Should you have any queries regarding the above-mentioned documents please do not hesitate to contact your engagement partner or assigned audit manager for further assistance. 5 Your image Our priority. Geyser & du Plessis List of deliverables