Financial Statement Drafting

The Directors of a company are responsible for preparing financial statements for each financial year in accordance with a financial reporting framework, usually International Financial Reporting Standards (IFRS) or IFRS for SMEs. The statements must give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. This requires the faithful representation of the effects of transactions, other events and conditions in accordance with reporting standards.

Preparing the financial statement is a tedious task which needs meticulous processing of records of financial transactions, many of our clients find the cost and risk of doing this function in house is too great. We offer a full outsourced solution which adds real value and reduces stress, cost and the risk of misstatement.

Our financial statement drafting services can minimise the pressure on your in house team by helping you in:

  • Selecting and applying suitable accounting policies;
  • Preparation of annual and periodic financial statements, including a directors’ report, in accordance with the applicable financial reporting standards
  • presenting information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;
  • providing additional disclosures to enable clear understanding of transactions, other events and conditions on the entities financial position and financial performance;
  • Coordinating expectations with the auditors;
  • Preparing a collection of work papers that support information presented in the financial statements, for the use of the company and the auditors.

Our larger clients (including entities with equity and or debt instruments listed on securities exchanges) will usually make use of our IFRS Advisory Services as well.

Tabaldi also has a sister firm, Seltus Financial Solutions which provides the full independent audit and review function. Please note that due to legislation in South Africa, and in many European countries the Financial Statement Drafting can NOT be performed by the auditor of the same Financial Statements.