Tag: PATC

Personal Taxation on Cryptocurrency

Understanding personal taxation and cryptocurrency Q: What info is required to be submitted to SARS regarding Cryptocurrency transactions and in what format? A: You will need to treat it like transactions and keep a detailed report of all your transactions. For example: the date you purchased cryptocurrency, the cost amount spent on the asset, the…

Understanding the Principles of ISQC 1

Business meeting

The objective of the firm is to establish and maintain a system of quality control to provide it with reasonable assurance that: The firm and its personnel comply with professional standards and applicable legal and regulatory requirements; and Reports issued by the firm or engagement partners are appropriate in the circumstances.

Implementing Liquidation Procedures for The Business

Law

The liquidation process can be defined as the process in which a company voluntarily proceeds to declare itself as being insolvent or where a creditor of the company brings an application to court in order to have the company declared insolvent. The result thereof is that the company may no longer proceed to operate its…

Finalising and Signing Off the Financial Statements

Man signing a document

Only one director is required by law to sign the balance sheet on behalf of the board but, in the case of companies with shares traded on a market, it is quite common to see the balance sheet signed by two directors, for example, the Chairman and the Finance Director. To some extent this is…

What is meant by Creditors’ Reconciliation Statement

Creditors’ reconciliation statement is the process by which Creditor/s account (creditor’s transactions in the system) is compared and reconciled against a monthly statement received from the creditor. Once the two records are reconciled, the account becomes payable.

Things to Consider When Setting and Communicating Credit Limits

woman on the phone in office

Credit limits serve a variety of purposes. Companies can use them as a guideline for order approval, to minimize the upward spiral of orders or to call immediate attention to a change in a customer’s purchasing or payment behaviour. Often the tendency is to let the credit limit simply become a matter of course, which…

Applying for A Tax Debt Compromise

Hands on a keyboard

Section 200 of the Tax Administration Act (“TAA”) deals with the Compromises on Debt owed by individuals, trusts, close corporations and companies. It allows a senior SARS official to compromise a tax debt which could be comprised of taxes, penalties, interest and even additional tax if certain requirements are met. The Term “Compromise” Is Defined…

Completing the Financial Statements Engagement In Compliance With The Legislative Requirements

Two pairs of hands brainstorming over paper and laptops

In general, engagements to issue a report on financial statements should be performed in terms of relevant statutory requirements, common law requirements related to professional competence, due care and a code of conduct issued by a professional body. A report may only be issued once all the above requirements are met. The duties of accounting…

Mandy Eysele

photograph of Mandy Eysele from PATC

Mandy is an experienced business professional with 40 years’ all-round experience in different fields such as Sales executive, Sales Department Manageress, Sports Coordinator, Drs Receptionists and a whole lot of other fields. Mandy ensures that the wheels keep turning at PATC as an Office Manager. Her ability to engage with clients and staff are exceptional….