What is an Independent Review?

An Independent Review is an alternative assurance engagement introduced by the new Companies Act 2008 on the 1st of April, 2011.

The objective of the new Companies Act 2008 is to simplify the regulations of SME’s (small to medium size enterprises) and to make it more affordable to do business in South Africa.

Most private companies in South Africa are now able to replace the costly annual audit with a less expensive Independent Review.

 

What is the difference between an Independent Review and an Audit?

An Independent Reviewer provides moderate assurance on a set of financial statements.

An External Auditor provides reasonable assurance on a set of financial statements.

 

How do I know whether my company requires an Independent Review or an Audit?

Every South African company must calculate its public interest score at the end of its financial year. The public interest score may be used to calculate whether a company needs an Independent Review or an Audit. Calculating the incorrect score, may lead to unnecessary cost for your company.

 

How do I calculate the public interest score?

We have included an online public interest score submission for your convenience. Please click here to find out what type of assurance engagement your company requires.

Testimonials

“Louis Kriel Independent Reviewers is ‘n jong gevestigde professionele Rekenmeesters praktyk  te Stellenbosch, en die sakevernuf en kundigheid wat Louis Kriel Independent Reviewers tot dusver ten toon gestel het, het alreeds ‘n blywende impak in die sakewêreld gemaak. Hy staan uit vir sy onvoorwaardelike toewyding teenoor sy kliente te alle tye. Hy ontsien geen moeite om ‘n uitstekende diens aan kliente binne en buite Stellenbosch te bied nie. Hy is altyd tegemoetkomend, en gaan uit sy pad om aan elke klient se unieke behoeftes rondom hulle sake aangeleenthede te voldoen en te bekragtig.

READ MORE

Contact Us

Cell phone: +27 74 144 1158

Email: louis@louiskriel.co.za

Info: info@louiskriel.co.za

Offices: Brandwacht Road, Stellenbosch
Cape Town, South Africa

Disclaimer

Upon access of this website or any links connected therewith you have bound yourself irrevocably to the standard terms and conditions of use of the website and/or database. You warrant that you have read and understood the content, effect and implication of the standard terms and conditions and consider yourself bound thereby.