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Audit prep insights

Audit-Proof Your Financial Statements for SARS and Auditors

What SARS and Auditors Expect

Clear, Accurate, and Compliant — Every Time

If the thought of an audit makes you break into a cold sweat, you’re not alone. For many SME owners, an audit feels like a looming disruption. But with the right preparation, it doesn’t have to be. In fact, preparing audit-proof financial statements can reduce stress, protect your business, and even support growth.

Here’s what SARS and auditors expect — and how to make sure your records are ready.

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1

Clean, Organised Financial Records

Auditors and SARS want to see that your financial records are clear, traceable, and complete. This includes accurate bookkeeping, reconciled bank statements, and detailed ledgers.

Work with an accountant who helps keep your records clean throughout the year — not just at audit time.

2

Compliance with Accounting Standards

Your financials must follow proper accounting frameworks like IFRS for SMEs. SARS doesn’t just want the numbers — they want them presented and structured according to accepted standards.

 At SG&CO, all our financial statements comply with IFRS, giving auditors exactly what they’re looking for from the start.

3

Consistent Tax Records and Returns

Inconsistencies between your financial statements and SARS tax returns raise red flags. All declarations — including VAT, PAYE, and income tax — need to align with your accounting data.

Keep your tax returns clean and consistent with what you report on your financials. We’ll help ensure it all matches up.

4

Supporting Documentation

From invoices and contracts to payroll records and loan agreements, auditors will want to see proof of what’s reported. If something looks unclear, they’ll ask for backup.

Having these documents ready helps avoid delays and keeps the audit process smooth.

5

An Accountant Who Speaks Auditor

Audits are faster and easier when your accountant understands exactly what auditors and SARS need — and can give it to them the first time.

At SG&CO, we don’t just prepare your financials — we prepare them to stand up to audit scrutiny, saving you time and reducing your stress.

The best time to prepare for an audit isn’t at year-end — it’s now. With audit-proof financials and expert guidance from SG&CO, your next audit can be one less thing to worry about.

Get in touch with SG&CO today.

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