A team of Chartered Accountants and Tax Practitioners delivering world-class AFS compilation, IFRS & SA GRAP advisory, tax, CIPC and audit services — at the most cost-effective rates in South Africa.
Lowest charge-out rate per hour. Focus on your business — we handle the financials.
No need to purchase Caseware or Draftworx licences (R100K+). We bring our full toolset.
AFS prep is often once-off. Why buy licences and train staff when you can outsource?
Specialising in complex consolidated group financial statements — subsidiaries, JVs, associates.
OFS was founded with a clear purpose: to provide businesses, public entities and audit firms with access to top-tier financial reporting expertise — without the overhead of a large firm. We specialise in AFS compilation and review under IFRS and SA GRAP, using our own Caseware and Draftworx licences. Beyond compilation, we offer IFRS and GRAP technical opinions, early adoption assistance, internal audit, tax returns, CIPC, beneficial interest filings, audit readiness and practical audit staff training — all in one team, available nationwide.
From consolidated AFS compilation to internal audit — delivered by CA(SA) CGMA professionals with deep expertise in IFRS, SA GRAP and ISA standards.
Full annual financial statement preparation under IFRS, IFRS for SMEs and SA GRAP — including consolidated group financial statements. Own Caseware and Draftworx licences at no extra cost to you.
We assist entities with early adoption of all new standards not yet mandatorily effective — including IFRS 18 (Presentation and Disclosure), IFRS 19 (Subsidiaries) and new GRAP standards. Full implementation from assessment to final financial statements.
Specialist SA GRAP financial reporting for government entities, municipalities and public entities. We hold our own GRAP Caseware licence and train staff on-site where needed — full compliance, no extra licence cost to your entity.
Technical accounting position papers and opinions on complex IFRS and SA GRAP matters. We guide CFOs and finance teams through challenging questions — from financial instrument classification to lease accounting and revenue recognition.
Risk-based internal audit services aligned to IIA standards. We perform high-level AFS reviews — reviewing prior period errors, irregular expenditure, accounting policy assessment and providing management with assurance before the external audit.
Full audit file preparation, fixed asset register preparation and review, identification and treatment of prior period errors, irregular and fruitless expenditure, and debtors and asset impairment assessments — leaving your auditors ready to sign.
Individual and company tax returns, provisional tax, VAT submissions, beneficial interest register filings and CIPC annual return submissions — managed by registered tax practitioners using SARS eFiling.
Practical training on IFRS, SA GRAP and ISA requirements. We design and review IRBA and ISA-compliant working paper packs customisable to your audit client's industry and business structure.
Monthly management packs, financial analysis, cash flow forecasts and board reporting. We support JSE-listed and growing private businesses with monthly financial visibility and decision-making support.
No extra licensing cost to you — we bring our own industry-leading toolset.
Full update on standards applicable for 2026 financial year ends. IFRS, SA GRAP, SARS and CIPC developments.
Amendments require entities to apply a consistent approach to assessing whether a currency is exchangeable and how to account for transactions when it is not. Specific measurement and disclosure requirements apply when exchangeability is absent.
Amendments address inconsistencies relating to: hedge accounting by first-time adopters (IFRS 1); gain/loss on derecognition (IFRS 7); lessee derecognition and transaction price (IFRS 9); de facto agent determination (IFRS 10); and the term 'cost method' (IAS 7).
Clarifies classification of financial assets including ESG-linked features. Also clarifies the derecognition date of financial assets and liabilities settled through electronic payment systems — relevant for entities using real-time payment platforms.
Introduces additional disclosure requirements regarding equity instruments designated at FVOCI and financial instruments with ESG-linked contingent features. Entities holding investment portfolios with ESG-linked bonds should assess disclosure impact.
IFRS 18 replaces IAS 1. Introduces three defined income statement categories (operating, investing, financing). Introduces management-defined performance measures (MPMs) as part of the audited financial statements. Early adoption permitted — OFS specialises in IFRS 18 implementation.
Permits eligible subsidiaries to use IFRS with significantly reduced disclosure requirements. Qualifies if the entity has no public accountability and its parent applies full IFRS. May significantly reduce disclosure burden for qualifying subsidiaries in group structures.
The Accounting Standards Board issued its communication on the GRAP Reporting Framework applicable from 1 April 2026. All public entities, municipalities and municipal entities must apply the updated framework from this date.
→ Download ASB Communication (PDF)Aligns SA GRAP with the IPSAS framework on separate financial statements. Entities preparing both consolidated and separate financial statements should assess the impact on their current accounting policies, particularly for investment in subsidiaries and associates.
Updated transitional provisions for public entities adopting new GRAP standards. Municipalities and public entities should review the revised application guidance to ensure correct transitional disclosures appear in their financial statements.
Primary rebate: R17,235. Tax-free threshold: R95,750 (under 65). Marginal rates scale from 18% to 45%. Medical tax credits: R364/month for main member and first dependent; R246/month for each additional dependent. Two-pot withdrawals taxed at marginal rates.
The two-pot system allows access to the savings component (one-third of contributions from 1 September 2024). Withdrawals are taxed as income at marginal rates and may push taxpayers into higher brackets. Employers must correctly process withdrawals through payroll and PAYE.
All companies must submit beneficial ownership information to CIPC. Beneficial owners include natural persons holding ≥5% of shares/voting rights or exercising effective control. The register must be updated within 10 business days of any change. Non-compliance results in deregistration. OFS handles all submissions on your behalf.
Filing within 30 business days of anniversary: under R1M = R100; R1M–R10M = R450; R10M–R25M = R2,000; R25M+ = R3,000. Late filing fees: R150, R600, R2,500 and R4,000 respectively. Non-filing for 2+ years leads to deregistration. OFS ensures timeous filing.
Expert articles on IFRS, SA GRAP, tax and accounting for South African finance professionals and business owners. We write what you need to know — and how OFS can help.
Practical tools for South African businesses — free to use. From tax calculations to trial balance generation.
Monthly PAYE & take-home for 2026/2027 — pension, travel allowance, medical aid credits included
Full Public Interest Score — determines if your entity needs audit, review or compilation
Calculate your CIPC fee based on turnover — on time and late filing rates shown
Upload Excel, CSV or PDF bank statement — map transactions and generate a trial balance
SAICA's official SA GRAP Accounting and Disclosure Checklist for 2026/2027
Full illustrative financial statements prepared under IFRS — Grant Thornton 2025
Create professional invoices instantly using Zoho's free online invoice generator
IRBA and ISA-compliant working paper templates — customisable to your audit client
Tell us about your needs and we will respond within one business day with a competitive, no-obligation quote tailored to your specific requirements.
Based in Randburg, Johannesburg — serving clients remotely across South Africa. We respond within one business day.
16 Christina Crescent
Randburg, JHB, 2162
16 Christina Crescent, Randburg, Johannesburg, 2162 · Nationwide remote service · Response within 1 business day
2026/2027 tax year (1 March 2026 – 28 February 2027) · SARS published tax tables
Determines your audit, review and accounting framework requirements under the Companies Act.
Based on annual turnover (revenue plus all other income amounts). Filing due within 30 business days of the anniversary of incorporation.
Upload your bank statement (Excel, CSV or PDF) or paste transactions below. Review suggested mappings, adjust as needed, then generate your trial balance.
📤 Click to upload bank statement
Supports Excel (.xlsx), CSV (.csv) or PDF bank statementsNeed the full Excel template with formulas and full chart of accounts? Email us for your free copy.
IRBA and ISA-compliant working paper templates — customisable to your audit client's industry and business structure. Used by audit firms and internal audit functions across South Africa.