A tailored solution that delivers a high level of expertise to assist clients in making informed decisions on managing their business.
Financial
Statement
Automation
Our automated solution saves financial management time, audit time and provides our clients with high-quality financial statements.
With the rise in CFO and stakeholder expectations of financial reporting, AFS are now required quicker and more efficiently, to provide good financial insight for decision-making and meeting external reporting requirements. Adding to this is the need for XBRL compliance.
AFA not only prepares compliant and timely AFS, but also assists in improving the quality of financial reporting. Our team of automation experts have an excess of 10 years’ experience preparing financial statement (AFS) that are:
- Delivered timely
- IFRS and GRAP compliant
- Improved quality financial reporting.
Our clients benefit from our managed solutions, strong finance knowledge, a discipline of execution, a cost-conscious approach and a commitment to making a meaningful difference and adding value.
We supplement our automated AFS solution with an IFRS or GRAP technical review to assist in your readiness to submit to the auditors.
Our aim is to provide you with a competitive edge in today’s demanding environment.
- AFS Preparation & Automation
- XBRL Reporting
- Accounting Technical Quality Review
- Template design and alignment with group disclosures
Benefits of
Automation
Compliance
- Prompt software updates to ensure compliance with IFRS standards.
- Updates in-line with CIPC taxonomy and annual return requirements.
Control
- Ensures consistency, quality and accuracy to reduce the burden on reviews.
- Eliminates the risk of errors and inconsistencies associated with using massive spreadsheets.
- Built-in validation of the notes to the face of the AFS, immediately identifies any discrepancies.
- A complete audit trail is maintained to keep track of any changes made to the original trial balance.
Efficiency
- Time saving and cost efficient preparation of AFS.
- Automate a complete set of AFS complying with the latest accounting standards and automated lead schedules.
- Built-in financial reporting engine, eliminates manual drafting, retyping or casting of AFS.
- Adjustments will be automatically updated from working papers through to the AFS and schedules.
- Adjusting journal entries can also easily be exported back to the company’s accounting system.
Benefits of Outsourcing Your AFS
Cost
- Client does not have to incur software cost as AFA purchases licenses required for the project.
- AFA invests in their staff remaining up to date with any new requirements.
Efficiency
- AFA has a dedicated team to compile the AFS and no additional training is required for the client.
- The AFA team have the necessary set of accounting and technical skills to completely own the solution and the deliverable.
- The AFA team resolve issues encountered with the file.
Time Involved to Compile AFS
The AFS are prepared concurrently with the audit and year end close off process without impacting the clients’ day-to-day commitments.
Template Formats
AFA will be able to align various formats of the AFS across different entities to ensure consistency.
Review
The solution includes an accounting technical and quality review.
XBRL
Reporting
AFA’s XBRL solutions assist businesses with annual submissions to CIPC, which includes the new compulsory compliance checklist, improving compliance and reducing the burden of financial reporting.
Digital financial reporting processes are a best practice to achieve Standard Business Reporting (SBR). It is transforming the business world globally and innovative technology standards have gained traction in South Africa. Our XBRL solutions reduce the administrative load when submitting AFS and improve transparency.
Services
Our team of XBRL and AFS automation experts are highly skilled in preparing compliant and timeous financial statements, as well as assisting in improving the quality of your financial reporting.
Our differentiated outsourcing delivers an integrated solution that is fully managed and cost-effective.
The cost-effective offshoring finance solution to international clients leverages our South African highly skilled chartered accounting quality and expertise.
Our expert team seamlessly delivers payroll outsourcing, compliance and benefits to national and international clients.
We work closely with CEOs and executive teams to determine the strategic direction of your business while considering the optimal allocation of scarce resources, thereby giving your business an edge.
Our finance project office improves project success and delivers projects efficiently, on time and budget.
Our digital finance service offering enables businesses to develop agile, effective responses to emerging challenges and opportunities.
Testimonials
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John DoeCEO 
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John DoeCEO
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John DoeCEO
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John DoeCEO
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John DoeCEO
