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Waterfall Drive, Waterfall City, Midrand 1685

services

Recruitment

We perform a detailed analysis of your staffing needs and head hunt candidates either on a contract basis. We have successfully recruited Chartered Accountants, Bookkeepers, Financial Managers, Analyst and other specialist roles. We screen the candidates prior to referral and make sure that they understand the role that they will be filling and will be an asset to your firm. We also undertake an analysis of the existing environment and suggest any efficiencies and cost saving initiatives that a client may wish to consider

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Director & Board Services

We provide support to non-finance professionals who may be dealing with sensitive or complex financial information in their capacity as Directors or Board Members. We analyze the information, discuss the content and assist in compilation of informed opinions on the subject matter. This assist clients in making dynamic contributions to stakeholders. Often, those charged with a fiduciary duty are often unaware of the risks relating to the decisions they take and we provide this insight and guidance so that they can act in line with the recommended corporate governance principles.

We can also assist with conducting effectiveness assessments of boards and executive committees to enhance the performance and address obstacles that may be compromising the organization form reaching its full potential.

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Financial Proof Reading & Packaging

We review reports containing financial information for accuracy, consistency and logic and assist in summarizing complex information into PowerPoint slides and using info graphs.

Let us assist you in communicating effectively by ensuing that you target audience receives the key messages form your pitch in a dynamic and impactful manner.

The world of finance can be a complicated place, and a muddled translation can slow down work or lead to an inaccurate understanding of the materials. Our proofreading services ensure that your edited materials read in a way that will be clear and natural to a wide range of stakeholders.

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Company Registrations

We are ready to assist on all you need to get a business started and advise on other company secretarial services.

Customized packages are structured to suite your specific business needs and to ensure that your business has all the required documentation for finance applications, tender submissions and other mandatory purposes.

CIPC - Company Incorporation with a name reservation

In terms of the Companies Act, 2008, a company may be registered with or without a company name. When a company is registered without a reserved name, its registration number automatically becomes the company name. This is the quickest way to register a company, however it will require an Memorandum of Incorporation (MOI) change once a name is selected.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine all the details regarding the names the directors would like to apply for
  • Determine all the details regarding the company and the directors/incorporators
  • Collect all supporting documents necessary for the registration 
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for a name reservation
  • Apply for the company registration and submit the supporting documents to CIPC
  • Tracking the name reservation and application and ensuring they are successfully processed

Please note that upon registration you will receive a registration pack. Please ensure that these registration documents are kept on file electronically throughout the lifetime of the company.

CIPC - Company Incorporation without name reservation

In terms of the Companies Act, 2008, a company may be registered with or without a company name. When a company is registered without a reserved name, its registration number automatically becomes the company name. This is the quickest way to register a company, however it will require an Memorandum of Incorporation (MOI) change once a name is selected.

You can  find out more from CIPC here and here

Waterfall Chartered Accountants can help with this process and will:

  • Determine all the details regarding the company and the directors/incorporators
  • Collect all supporting documents necessary for the registration 
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for the registration and submit the supporting documents to CIPC
  • Tracking the application and ensuring it is successfully processed

Please note that upon registration you will receive a registration pack. Please ensure that these registration documents are kept on file  electronically throughout the lifetime of the company.

CIPC - Name Reservation

In terms of the Companies Act, 2008, a company may be registered with or without a company name. When a company is registered without a reserved name, its registration number automatically becomes the company name. This is the quickest way to register a company, however it will require an Memorandum of Incorporation (MOI) change once a name is selected.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine all the details regarding the names the directors would like to apply for
  • Apply for the name reservation
  • Track the name reservation

**Should all 4 names suggestions already be reserved, or are too similar to existing company names, then a new application will need to be sent. You will therefore have to re-request Waterfall Chartered Accountants to assist and pay another application fee.

CIPC - Annual Return and Financial Accountability Supplement

All companies and close corporations are required by law to lodge their annual returns and Financial Accountability supplement (FAS) with CIPC within a certain time period every year.

Non-compliance with annual returns may lead to deregistration.

  • Companies have 30 business days from the date that the entity becomes due, to file annual returns before it is considered non-compliant with the Companies Act.
  • Close Corporations have from the first day of its anniversary month up until the thereafter, to file Annual Returns before it is non-compliant with the Close Corporations Act.
  • Annual Returns can only be filed electronically.

You can find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Confirm your annual turnover for each year outstanding
  • Determine the CIPC fee due for each year outstanding
  • Confirm the company and director information with you and if you require any updates (charged separately for address or director/member amendments if required)
  • Facilitate the payment of the CIPC fee
  • File your annual return

Please select your turnover level from the latest approved financial statements from the variants below.

We rely on this information from you for the submission and will assume the accuracy of your selection. CIPC charges a fee that rises based on turnover and we will pay this on your behalf (watch how the price of the product rises when selecting turnover below).

We have not provided for penalties on submissions that are outstanding and late. We will inform you of any penalties that have accrued and you will need to make a top-up payment for us to process these.

CIPC - Change in Registered Address

The registered address or office of a company is very important, as it is the address at which any legal documents will be served on the company.  Companies are required by law to ensure that this information is up to date, and may be liable for a fine or prosecution if it is found that the information is not up to date.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Request the new company physical and postal address and the date the company moved
  • Make the relevant change for you on the CIPC platform

CIPC - Add or remove a Director or Member

If a company changes or restructures and Directors or Members join or leave, these changes will need to be lodged at CIPC via an amendment process.

You can find out more from CIPC by following these links for  Director changes and  Membership changes

Waterfall Chartered Accountants can help with this amendment process and will:

  • Determine all the details regarding the company and the directors/members
  • Compile all supporting documents that are necessary for the registration 
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for the registration and submit the supporting documents to CIPC
  • Tracking the application and ensure it is successfully processed

CIPC - Appoint an Auditor or Change in Auditors

The office of an auditor may not remain vacant for more than 40 business days.  An auditor may serve a maximum of five consecutive financial years.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine who your current and previous auditor is (if applicable)
  • Make the relevant appointment/resignation of the auditor for you

CIPC - Change in Financial Year End

The directors/shareholders may choose to change the company’s financial year end in accordance with the following requirements:

  • A company may only change its financial year end once during a particular financial year.
  •  A company may not choose a financial year end that will result in the total financial year being more than 15 months.
  • A company may choose to shorten its financial year in which instance there is no minimum applicable.
  • The new year end must be later than the date on which the notice is filed.
  • The current financial year end must not have ended.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine whether the new year end date selected by you is acceptable with CIPC as per the above requirements
  • Make the relevant change  for you

CIPC - MOI Amendment

The most important document governing a company is the Memorandum of Incorporation (MOI). The MOI sets out the rules governing the conduct of the company, as specified by its owners. The Companies Act imposes certain specific requirements on the content of a Memorandum of Incorporation, as necessary to protect the interests of shareholders in the company, and provides for a number of default company rules / alterable provisions, which companies may accept or alter as they wish as long as it is in line with the Companies Act.

You can  find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine the details surrounding what changes the company would like to make to the MOI
  • Compile and collect all supporting documents necessary for the change 
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for the MOI change and submit the supporting documents to CIPC
  • Tracking the application and ensuring it is successfully processed

CIPC - Change in Company Name

In order to change an existing company name, a name must first be reserved.

Once a name reservation has been approved, the company must lodge a notice of amendment of the memorandum of incorporation (cor15.2).  Please note that any changes to an MOI must be accompanied by a special resolution adopted at a shareholders meeting authorising the name change.

  Waterfall Chartered Accountants can help with this process and will:

  • Determine all the details regarding the names the directors would like to apply for
  • Apply for the name reservation
  • Track the name reservation
  • Change the Company name (after name reservation has been approved)

CIPC - Company/Close Corporation Deregistration

A business can be referred for deregistration upon request from the company or close corporation or any other third party, provided that the company or close corporation has ceased to carry on business; and has no assets or, because of the inadequacy of its assets, there is no reasonable probability of the company or close corporation being liquidated.

Deregistration will also be triggered when two or more successive annual returns are outstanding.

You can  find out more from CIPC here

The full process of a company/close corporation deregistration includes:

  1. CIPC deregistration
  2. Closing off of the accounting records **
  3. Submission of outstanding returns to CIPC **
  4. Submission of outstanding SARS returns which will be required for a tax clearance certificate **
  5. Deregistration with SARS
  6. Finalising legal matters as provided by your legal advisor including any contractual obligations which are required to be fulfilled in order to deregister

**These processes will be invoiced for separately. We will set up a scoping call to run through the status of all CIPC and SARS submissions

Waterfall Chartered Accountants can help with the CIPC deregistration process and will:

  • Compile all supporting documents that are necessary for the deregistration
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for the deregistration and submit the supporting documents to CIPC
  • Track the application and ensure it is successfully processes

Endorsement of non-resident share certificates

The South African Reserve Bank (SARB) regulations require that non-resident entities or persons need to obtain a “non-resident” endorsement stamped on the face of the share certificates representing their shareholding in South African entities.

The regulations provide thatwithin 30 days of a person acquiring ownership of shares in a resident company, that person must submit those shares to an authorised dealer, along with additional requirements which will be stipulated upon acceptance of this product.

Administrative relief 

In the event that the share certificates were not endorsed within the prescribed timeframes, this would constitute a contravention. SARB may, however, authorise the regularisation of such a contravention. The contravention would have to be disclosed to SARB in accordance with the provisions and in the manner prescribed in the Regulations.

Waterfall Chartered Accountants can help with this process and will :

  • Walk you through the process of applying for share endorsement or regularisation
  • Review the document checklist and assist with documentcollection, preparationand advice
  • Liaise with your bank’s forex department / private banker on your behalf – We will require your authorisation to do so
  • Provide feedback on the process and subsequent document requirements

For companies requiring an audit, please note that this product does not cover the independent auditors’ written confirmation which will be charged for separately by your auditors

Shareholders Agreement

A shareholders agreement is a document that sets out the rights, duties, and responsibilities of shareholders. A shareholders agreement is created to protect the interests of the shareholders and govern the relationship between shareholders. If there is more than one shareholder it is imperative to have a shareholders agreement.

A shareholders agreement is drafted in alignment with your company Memorandum of Incorporation (MOI) and can be tailored to your company needs. In addition, it can be amended as those needs change provided all shareholders agree thereupon unlike the MOI which requires any amendments to be lodged with CIPC.

Therefore, in summary, the MOI will usually guide the long term structure of the company whereas the shareholders agreement is a document that can be promptly updated through the various growth stages of the business.

We will draft a custom shareholders agreement suited to your unique shareholding requirements.

Waterfall Chartered Accountants can help with this process and will:

  • Have a 1-hour workshop with the shareholders and discuss the items they would like to form part of the shareholders agreement
  • Draft a customised shareholders agreement incorporating the specific requirements
  • Arrange a follow up 1-hour recap to run through any final discussion points
  • Provide the final document for signature by the shareholders

CIPC - Close Corporation Conversion to a Company

A Close Corporation (CC) may, in terms of item 2 of Schedule 2 of the Companies Act 2008, convert into a profit company having shares, i.e. a private company, a public company or a personal liability company.

You can find out more from CIPC here

Waterfall Chartered Accountants can help with this process and will:

  • Determine all the details regarding the names the directors would like to apply for
  • Determine all the details regarding the company and the directors/incorporators
  • Collect all supporting documents necessary for the registration
  • Ensure all supporting documents are acceptable to CIPC
  • Apply for a name reservation
  • Apply for the company registration and submit the supporting documents to CIPC
  • Track the name reservation and application to ensure they are successfully processed

Complete Package - Close Corporation Conversion to a Company

This is a complete package to convert a Close Corporation (CC) into a profit company having shares, i.e. a private company, a public company or a personal liability company.

Waterfall Chartered Accountants can help with this process:

  • CIPC – CC Conversion to a Company
  • CIPC – Share Register, Share Certificates, and Directors Resolutions
  • SARS – CC Conversion to a Company

Please note that each process will have its own set of documents and timelines to processing the applications as per CIPC and SARS requirements.

Request for Company Documents

There are different Enterprise Disclosure options available to request from the Companies and Intellectual Property Commission (CIPC), namely:

  • Full disclosure
  • MOI (Incorporation documents) for companies with a standard short form MOI
  • Approved names
  • Person disclosure

Further to the above, a request for paper-based disclosures can be made by using the CIPC online query management platform.

You can find out more from CIPC here:  http://www.cipc.co.za/files/4414/1102/7350/Step_by_step_guide_-_Electronic_Disclosure_v1_0.pdf

Waterfall Chartered Accountants can help with this process and will:

  • Determine all the disclosures required by the company
  • Collect all supporting documents necessary for the request
  • Apply for disclosure
  • Track the application to ensure they are successfully processed

Please note: Paper-based disclosures are not available immediately and a timeline of 1-4 weeks can be expected.

Share Register, Share Certificates and Director's Resolutions

The Companies Act requires all companies to keep a register of its shares from the date of incorporation as well as any changes made to the shareholding throughout the life of the business.

The Register is like the ID book of the company containing all the relevant information of the shareholders, both past and present.

You can  find out more regarding a share register here

Waterfall Chartered Accountants can help with this process and will:

  • Gather the company registration information
  • Create a digital share register for you
  • Create director’s resolutions for all share transactions
  • Create share certificates for each  transaction
  • Import all share transactions into the register
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Executive Coaching

We provide business coaching across various industries. We act as your business coach and source suitable mentors for you. We help you build a sustainable business plan and work with established businesses to understand lessons learnt by them and also to leverage off key contacts.

“Leadership Is More Who You Are Than What You Do.”

We will assist leaders by:

  • creating a safe and trusted environment to work through issues faced
  • provide access to tools and techniques in addressing organizational and personal dynamics
  • develop key leadership competencies and behaviors required to navigate complex environments

Leadership coaching is tailored to suit the executive based on their level of exposure to coaching and experience. Great leaders realise that the most successful people focus on constant self improvement.

Key outcomes achieved through executive coaching include:

  • Improved levels of self-awareness
  • Emotional Intelligence
  • Boardroom Techniques
  • Improved Body Language and nonverbal communication
  • Planning career transition and crafting successful exit strategies
  • Alignment of personal values to career aspirations

We are certified in the field of NLP (Neuro Linguistic Programming) and are Time Line Therapy practitioners. Key insights from these disciplines assist leaders in chairing meetings, conducting negotiations, and improved stakeholder relations.

“Entrepreneurial Leadership Requires The Ability To Move Quickly When Opportunity Presents Itself.”

Chat to us about structuring an executive coaching package for your leadership team. The investment is guaranteed to be recouped in heaps and bounds.

“’Recognising the power in another does not diminish your own.” – Joss Winden

“We cannot change what we are not aware of , and once we are aware, we cannot help but change.” – Sheryl Sandberg

“’Emotional intelligence accounts for 80 percent of career success.” – Daniel Goleman

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Tax Advisory & Compliance

We assists individuals and companies in complying with tax-related legislation and regulations. Our comprehensive array of services includes value added tax (VAT) and pay as you earn (PAYE) reviews, capital gains tax (CGT) and estates planning, corporate tax, individual tax, financial planning and international tax advice.

Income tax return, tax effect accounting, financial reporting

We can assist you with your tax compliance obligations, whether it’s reviewing and lodging your organisations income tax return, tax effect accounting, or outsourcing your tax function.

We assist clients with tax return preparation and filing, tax reporting pack reviews and tax calculations for financial reporting. We also assist foreign owned subsidiaries in meeting their compliance and financial reporting of tax positions.

We can assist you with your tax compliance obligations

We offer best practice assistance in the following areas:

  • Corporate tax return review and preparation
  • Tax consolidation return review and preparation
  • Tax provision calculations
  • Tax effect accounting calculations
  • Tax consolidation entry and exit calculations
  • Effective global tax rate calculations
  • Corporate regulatory compliance and reporting
  • Tax depreciation register reviews and builds
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Business Valuation Services

Business valuation

A sad reality that is that business owners only engage experts to perform a business valuation in times of distress or when approached by a potential buyer.

Business valuation comprises a number of factors with essential contributing components that collectively determine the value of a business. The projection and predictability of future cash flows and the assumptions driving these projections requires professional analysis and stress-testing.

A periodic business valuation can be a great opportunity for business owners to leverage funding opportunities, identify expansion opportunities and clarify market positioning.

Data analysis

Businesses can be complex creations, but the markets in which they operate can be far more complex. Very little ever goes according to plan, so ensuring that you and your business are prepared for all sorts of scenarios is critical.

Armed with knowledge supported by rigorous data analysis, businesses are far more equipped to decide what type of opportunities are worth pursuing as well as which risks need to be carefully managed.

A resilient business is one that is informed and prepared for whatever may come. Take the opportunity of translating your business data into valuable information that can increase profitability.

Business Intelligence Services

We assist businesses in performing market and competitor intelligence services so that they can pursue business strategies informed, with the latest benchmark information and aware of risks associated with the anticipated business decision.

Let us source relevant empirical information to guide business strategies or navigate your business away from costly mistakes.

Fund raising

The ability to raise financing is reliant on the strength of the borrowers balance sheet and ability to service the financing requirements.

The risk associated with financing arrangements is typically mitigated using security mechanisms.

Let us help you explore the various funding sources available, expose you to incubation opportunities and ensure that you get the most effective method of financing.

We have a niche in the field of Shariah Financing which has proven globally to be the safest during economic turbulence.

Take advantage of having us review your existing financing arrangements and suggesting alternatives which could save costs and offer greater working capital efficiencies.

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Accounting & Consulting

Accounting & Bookeeping

We offer comprehensive accounting and bookeeping services, from accurate recording to powerful reporting, including:

  • Bookkeeping and financial recording from source documents.
  • Bank reconciliations from cheque and credit card documents.
  • Debtor and creditor control management.
  • Monthly / Weekly / Quaterly management reporting and accounts.
  • Compliance with international financial reporting standards (IFRS).
  • Chart of financial accounts setup and maintenance.
  • General ledger reconciliations and maintenance.
  • Fixed asset register maintenance.
  • Cash flow management.
  • Financial statement preparation and interpretation.

Financial Management

Working capital and debt management, procurement and asset optimization are our specialty. These include the following:

  • Working capital management and efficiency.
  • Debt and capital assets optimization.
  • Procurement systems design and maintenance.
  • Pricing strategies review and implementation.
  • Business investing and savings opportunities.
  • Internal Financial Controls design, implementation and design.

We offer advice on strategies relating to creating, acquiring or financing a new business, integrating it into current operations, enhancing performance, improving management and control, dealing with crises restructuring and realising value.

Corporate Organisation & Strategy

Waterfall Chartered Accountants can help you understand the “what sets your organisation apart”, and to develop and execute the strategies that enable you to deliver on this.

A winning strategy requires clarity of purpose coupled with effective execution, governance, the ability to innovate and communicate the message across your entire organisation.

Waterfall Chartered Accountants ’s professionals can help you identify and solve the challenges that stand in the way of your growth and progress.

We do this through facilitated strategy formulation and challenge sessions. We advise on organizational design and right sizing. Eliminate the inefficiencies in your business, today!

Mergers & Acquisitions

Our clients are varied, ranging from international corporations, JSE listed, private equity to smaller medium size business, including both purchasers and targets.

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Business Support & Advice

Business Support & Advice

Business can be very challenging, and you need support from experts. Our advisors are all professionally qualified as either Accountants, Tax Advisors, HR Specialists, Legal Experts or Business consultants.

Business Health Assessment & Business Coaching

We conduct an assessment of your business to identify areas where profitability can be increased, costs decreased and overall business success achieved.

  • Help frustrated business owners become inspirational leaders so they can let go of the reins and harness the full potential of the people they lead.
  • Create a clear roadmap of the future for you and your team with a powerful action plan to get you there.
  • Build a healthy, high-performing team who play to their strengths and remain collectively accountable.
  • Provide ongoing support and tech-enabled learning to build operational excellence across all areas of your business, ensuring your strategy is successfully executed.

A Business Health Check is not only suitable for a business struggling financially or a business in distress. Often a second set of eyes are required to unlock the true value of a business. Working closely with the financials on a day-to-day basis can make it difficult to objectively review where there may be cost efficiencies to be achieved, options to improve deteriorating margins or new ways to assess the performance of your business in a timely manner.

This type of services provides your business with an independent assessment and review of the financial health of your business with a minimal investment that will likely be returned immediately through recommendations being implemented, at the very least it will provide peace of mind that your business is reaching its potential.

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