I'm the sole director of a small (Pty) Ltd company.
Can't wait for the new Companies Act to come into force so I don't have to pay for an audit every year!
I've only just finished preparing my financial statements for the 2009 tax year but I'm a bit short of cash and can't afford the audit right now.
I do have a +/- R6000 credit with SARS but need to get my tax return submitted and assessed to get hold of the money.
Can I complete and submit my tax return, wait for the expected refund and then have the audit done?
What actually happens to the audit report that the auditor prepares? Must it get submitted (along with the financial statements) to CIPRO or something like that?
I can't really ask my auditor for advice as I'm "between" auditors at the moment. The current auditing company are expensive/incompetent and I'm looking for a new one but I don't think anyone would want to take on my business knowing that their invoice can only be paid from expected refund money