Annual Financial Statements

ANNUAL FINANCIAL STATEMENTS

Annual Financial Statements provide a structured summary of your business’s financial performance and position for the year.  

They include key reports such as the Statement of Financial Position, Statement of Comprehensive Income, and supporting notes, prepared in line with relevant accounting standards. These statements are essential for compliance, decision-making, and presenting a transparent view of your company’s financial health to stakeholders.

Annual Financial 
Statements Compilations

1. What is a Compilation?

We take your financial data and prepare formal Annual Financial Statements. Statements are presented in line with accounting standards and the Companies Act.
This is a non-assurance service – we don’t audit or verify, but ensure clarity and compliance.

2. Who Needs It?

Small to medium businesses with a Public Interest Score (PIS) below 100.
Companies with PIS between 100 and 349 where an independent review is required.
Businesses needing statements for banks, investors, or compliance without a full audit.

3. Why choose us?

Professional, accurate, and compliant financial statements.
Quick turnaround with minimal hassle for you.
Experienced Chartered Accountants who understand your business needs.

Our Compilation Process Simple and Stress-Free

We keep it easy for you.

Our Compilation process

We keep it easy for you. Simple and Stress-Free.

1. Send Us Your Records

Share your financial information for the year.

2. We Do The Work

We organise and prepare your Annual Financial Statements in the correct format.

3. Delivery Of Final Annual Financial Statements

We deliver you compliant and accurate Annual Financial Statements

No audits, no hassle - just clear, accurate financial statements you can trust.

Independent Reviews

Need an independent review but already have your financial statements prepared? We’ve got you covered. South African regulations require a clear segregation of duties between the preparation and review of financial statements. This means the same firm or individual cannot both compile and review the same set of statements. That’s where FundaMali steps in.

1. What is an Independent review?

A limited assurance engagement on your Annual Financial Statements.
We check for plausibility through inquiries and analytical procedures.
Less intensive than an audit, but adds credibility and compliance.

2. Who Needs It?

Companies with a Public Interest Score (PIS) between 100 and 349.
Audit firms that cannot review statements they prepared (segregation of duties).
Businesses wanting assurance without the cost of a full audit.

3. Why Choose Fundamali?

Independent and impartial – we meet segregation requirements.
Fully compliant with ISRE 2400 and Companies Act.
Cost-effective and professional service by Chartered Accountants.

4. What is the Process?

STEP 1

Share your prepared financial statements.

STEP 2

We perform inquiries and analytical checks.

STEP 3

You receive a reviewed, compliant set of statements with our report.

1. What sets us apart?

Expert Knowledge – Chartered Accountants with deep understanding of South African regulations and standards.
Tailored Solutions – Services designed to fit your unique business needs, not one-size-fits-all.
Compliance & Accuracy – Financial statements prepared in line with the Companies Act and relevant accounting standards.
Client-Centered Approach – We prioritise clear communication and long-term relationships.
Value Beyond Numbers – Strategic insights to support your business goals.

Compilation vs Independent Review

– What’s the Difference?

Feature

Compilation

Independent Review

Purpose

Prepare Annual Financial Statements from your data.

Provide limited assurance on prepared statements.

Level of Assurance

None (presentation only).

Limited assurance through inquiries & analysis.

Ideal For

Small businesses, PIS < 100, compliance needs.

Companies with PIS 100–349 or needing credibility.

Compliance

Companies Act & accounting standards.

ISRE 2400 & Companies Act segregation rules.

Cost

Lower than review or audit.

More affordable than a full audit.

Segregation of Duties

Not required.

Required – reviewer must be independent.

Agreed Upon Procedures

Agreed-Upon Procedures (AUP) Services

Targeted financial procedures tailored to your specific needs.
Providing transparency, confidence and compliance.

1. What is an AUP Engagement?

An AUP engagement is a flexible assurance service where we perform specific procedures on financial or operational data, as agreed with you. We report factual findings without providing an opinion or conclusion, allowing you to make informed decisions.

2. Who benefits from it?

Businesses conducting financial due diligence
NGOs and grant recipients needing donor compliance checks
Attorneys and legal teams requiring factual financial verification
Internal audit teams seeking independent validation
Government departments and regulators