PUBLIC SECTOR CONSULTING

With our highly qualified complement of accountants, we have an extensive operational understanding of PFMA, MFMA and GRAP reporting standards which are necessary for accounting and general reporting purposes within the public sector.In our firm we have an mSCOA accredited train the trainer who have an understanding of the new reporting structure required by the National treasury in municipalities.

Our services we offer to the public sector includes the following, amongst others:

Preparation of GRAP Compliant Financial Statements

We keep up to date with compliance requirements and developments in the public sector to ensure we serve the best service to our clients. We do all year end procedures necessary to close all accounts and prepare GRAP compliant AFS ensuring the client will be ready for audit.

Asset Management

We assist with development and cleaning of asset registers, reconciliation of asset registers to general ledger (GL), physical asset verifications and ensuring assets recording and disclosure is done in compliance with all relevant GRAP standards. We provide a systematic process for maintaining, upgrading, and managing your assets. Though we are not specialist in valuation of infrastructure assets (under-ground water pipes, Roads and biological assets), where necessary we will source specialists (engineers) to assist with treatment of these assets. We will further assist the municipality with Valuation and Impairment calculation for their respective assets.

mSCOA Implementation

MSCOA is part of the budget reform programme that was initiated in 1998 when National Treasury started a process of reclassifying the existing expenditure items of the national and provincial government in line with the requirement of Government Finance Statistics (GFS) developed by International Monetary Fund (IMF). The implementation is not simply an information technology project, but a business transformation project that will fundamentally transform how the municipality carries out its operations. An mSCOA compliant implementation will:

Enable a Trial Balance to be drawn in each of the applicable segments;
Have an IDP and projects budget, compiled in mSCOA segments resulting in few virement adjustments;
Enable daily transactions to be captured in the correct accounts and the municipality to perform its daily operations;
Have portal function for input into national data warehouse

We have identified a need for this program that will assist with the road map from training of fundamental principles of mSCOA to implementation and support services which will be performed according to the agreement and need of the relevant municipality.

VAT Compliant Services

Our tax and advisory division is composed of individuals who are SARS registered tax practitioners who has a comprehensive understanding of VAT legislation and regulations relating to municipalities and government departments. We assist with reviewing and updating of VAT returns ensuring constant compliance with the VAT legislation and National treasury guidelines for VAT accountability.

Policies and Procedures Development

We assist with drafting policies, review and restructure where appropriate to ensure effective functioning

Revenue Enhancement and Management

We possess an extensive knowledge and experience on the entire Revenue Management value chain, mainly, meter reading, capturing and uploading, pre-billing activities, billing, printing and dispatch of bills, counter services (collections and handling both telephonic and counter queries), credit controls and service restrictions and cut-offs, cash collection management and banking.