PK & Sons Financial Consultants & Chartered Accountants

ABOUT US

Who We Are

PK & Son Financial Consultants and Chartered Accountants (PK) is a privately owned financial consulting firm. Roundly considered to be the most prestigious company of our kind, we have achieved a level of renown so great as to be known even to laymen. In our practice areas, we address strategic, organizational, operational and technological issues, always with a focus-according to the client – of doing what is right for the client’s business, not what is best for PK’s bottom line. As for the range of those specialties, the list of industrial sectors we serve encompasses everything from green and energy industries to the worlds of media, entertainment, manufacturing, engineering, information technology, all the way up to government offices including local and district municipalities.

In addition to our regular consulting brief, we regularly create new initiatives that both utilize the unique capabilities we have at our disposal, as well as serving to bolster the consultancy’s Chairperson and founder’s (Paul Kubheka) reputation for tackling the biggest problems around. One such example of this is acquiring the South African Institute of Professional Accountants (SAIPA) Accreditation. This is a professional body of more than 6000 accountants in practice, commerce and industry, government and academia.

Our Origin

In 2001, Paul Kubheka (Executive Chairman and Founder), chartered accountant and, founded the business to give local companies financial and accounting advice. Before long, he realized that clients’ financial data could be interpreted to help make better management decisions. Thanks to this innovation, Kubheka is credited with the idea of using consultants, or “management engineers”. And although the consultancy is his namesake, it is his protégés who make up his management team including son Mbuso Kubheka who currently holds the position of Chief Executive Officer (CEO), who will be remembered for shaping the direction of the consultancy.

Most notably, Kubheka is known for moulding the PK culture, mainly through a three-prong code of conduct outlining certain ideals that the consultants must uphold which is something that remains in place today and has positioned PK where it is today. Among these values are putting client interests ahead of those of the consultancy, giving superior service and maintaining the highest ethical standards. Consultants are also instructed to be absolutely truthful with the client, regardless of whether the client disagrees. The third part of the code is to protect the privacy of clients. The consultancy never publicizes its big-name clients, nor does it tout successful engagements.

Our Mission

Our mission is to become a leading black-owned and preferred accounting consultancy in the small, micro and medium-sized enterprises market (SMMEs).

Our Values

While it is a norm to be driven by the need to be sustainable and ultimately be profitable, our day-to-day activities are enthused by:

• Our OPENNESS and TRANSPARENCY when dealing with clients: by not withholding information that may benefit the client;
• Acting with INTEGRITY: being true to our consultancy and to the client even if the client has different views;
• Protecting client information with all our might by practicing CONFIDENTIALITY;
• TRUST: we consider trust as the foundation upon which our company builds long-term relationships.

The PK Promise

We pride ourselves on personal service, making each client feel like part of our company. We operate across all industries, anywhere in South Africa and can tailor packages for any business or individual.

We believe that the only way to devise and deliver successful communications work is to constantly build on the agency/client relationship. By working together, everyone can focus on and accomplish their goals. To do so, we trust our clients and hope that the trust will be reciprocated. We are in it together and our interests must always be aligned.

We believe that our take on attention and time separates us from other consultancies. When working on a client’s project, our attention is undivided and our time belongs to that client. In real operational life, there will always be a number of projects swirling about at the same time. However, we make sure that every client feels that they are the only one.

We believe that we must speak the truth. That means asking difficult questions, stating strong opinions, and learning from constructive criticism. Nobody is perfect and we all require input from those around us to do the best possible work.

SERVICES

Our Capabilities

For small, micro and medium sized enterprises, finding a financial partner with the right expertise to handle all your accounting, financial and compliance needs in-house whilst keeping that person motivated and stimulated is a major challenge.

PK & Son Financial Consultants and Chartered Accountants have a team of experienced financial and tax consultants, chartered accountants and auditors who have satisfied the regulator’s requirements to be outsourced Financial Consultants and Chartered Accountants. We work with you and your team to help ensure your on-going compliance with all regulatory requirements.

Our specialities include: accounting, administration, auditing, finance management, and institutional support such as CIBD, estates administration and B-BBEE.

Accounting and Administrative Services

Our accounting services offer range of product options to suit your unique needs and budget. Under our accounting wing sits the following services:

• Bookkeeping: We will help you to set up an accounting system that will enable you to streamline your whole data capturing process and save you from paying inflated bookkeeping costs.
• Company Secretarial Services: We will help you with new company registrations and conversion of companies and trusts. In addition, we help with amendments to company documents, completion and submission of annual returns, and also correspond with the relevant Registrars and Master’s Court if need be.
• Cost and Management Accounting: We issue periodic management accounts or as and when you require them. This enables you to proactively manage your business and have current information at hand should you need to make quick decisions around the growth and future plans of your business. We will hold your hand as you draw up your annual budgets and forecasted cash flows and analyse the results to help you plan accordingly to achieve the desired results.
• Financial Accounting and Reporting: Our experienced consultants work with you to and take you through the complex maze of a capital market transaction or to implement the latest accounting changes and meeting regulatory and stakeholder relationships. We provide on point industry tailored financial and reporting services to help your company to create return for your current and potential investors by optimising capital usage and enhancing value.
• Payroll Solutions: In addition to offering financial accounting solutions, PK also offers a complete payroll solution that includes setting up your employees’ payslip's and creating their end of financial tax certificates (IRP5’s).
• Trusts and Wealth Protection: Establishing a trust as part of your business structure and having a last will and testament is by far the best method to protect your wealth and legacy. It is our belief that two of the certain things in life are death and taxes. Our advisors help you to plan today to ensure that you leave your dependants with a legacy.

Audit Services

We provide comprehensive audit and assurance services designed to deliver real value and underpin investor confidence. We invite you to explore the many ways our consultants can help you.

Internal Audits: Internal Audit is a multidimensional discipline that spans over all sectors that has evolved to a key position within organisations. We help your organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

External Audits: An external audit is an independent examination of the financial statements prepared by the organisation. It is usually conducted for statutory purposes (because the law requires it). We carefully analyse your books leaving no stone unturned to produce fair and unbiased audit results and an audit opinion about whether the financial statements give a ‘true and fair’ view of the:

• State of affairs of your organisation;
• and operations for the period

Audit & Assurance Services: Assurance services are:

• Independent;
• Professional services that;
• Improve the quality of information, or its context;
• For decision makers.

Assurance services include many areas of information, including non financial areas.

Tax Services

Our highly skilled tax consultants will assist you to comply with tax related legislation and regulations. We will help you to ensure effective management and timeous submissions of all relevant tax returns from provisional tax, income tax and any dividend taxes. We will help you to operate on the most effective structure applicable to your industry and nature of business. We give advice that works on:

• VAT Recovery and Review (at contingency basis)
• Corporate TAX
• Capital Gains Tax
• Customs Duties
• Dividends Tax
• Donations Tax
• Personal Income Tax (also known as Individual Income Tax)
• Value Added Tax
• Pay As You Earn (PAYE)
• Transfer Pricing
• Tax Planning
• Tax Disputes & Resolutions
• Tax Avoidance and Evasion Regulations
• Tax Treaties also known as Double Taxation Treaty
• Legal and Tax Advice

Other Services

Administration of Deceased Estates

We provide an administration of deceased estates services by remaining within the guidelines outlined in the Administration of Estates. The administration includes:

• Notifying of deceased estate and appointing an Executor
• Compiling a Liquidation and Distribution Account
• Inspecting the Liquidation and Distribution Account
• Finalisation of the estate (after inspection period and no objections lodged)

GRAP Support to Municipalities

We work with Municipalities to comply and achieve the Generally Recognised Accounting Practice standards when preparing their annual financial reports. We work side by side with Municipalities by interpreting the Framework for Preparation and Presentation of Annual Financial Statements and guide them to produce financial statements that convey what is generally understood as a fair presentation of such information.

GRAP Fixed Asset Register

Our team of experienced consultants work with Municipalities to implement GRAP compliant asset registers and ensure that:

• The asset management policy and procedures documents are up-to-date;
• All immovable and movable assets have been physically verified;
• All assets have been linked to a Geographic Information System (GIS);
• Assets are unbundled according to a defined hierarchy;
• Assets are accounted for in terms of additions, disposals, impairments and depreciation;
• Asset valuation methodologies have been applied; and
• Audit support is provided.

Youth Development

PK and Son Financial Consultants uphold and believe in the objectives of the Constitution of the Republic of South Africa. The Constitution of the Republic of South Africa, 1996, is the supreme law of the country entrenching specific rights, responsibilities and an ethos that all South Africans are to uphold. In the Bill of rights, specific human rights are guaranteed and these rights and responsibilities guide the inherent rights and responsibilities of all young South Africans.

As the results PK and Son believe in the economic system that embraces youth as the future leaders of our country. PK and Son have been involved with the development of youth since inception in terms of the following programs or field of training:

• Incubation programmes on business formation
• Accounting and administration of Trust
• Taxation
• Audit
• Business Ethics

PK & Son is proud to have succeeded in give the youth business exposure and opportunities. We believe that there is still a room for improvement as we go forward.