Meloreng Consultants

Our Services

At MELORENG we believe that clients and our staff are our greatest assets. We are committed to providing an outstanding level of professional service and will strive to deliver on our promise to add value to your business.

Our services include

BEE Consulting
Business rescue
Financial management
Independent review ( as required by new Companies Act)
Internal Audit ( including Risk Management, Compliance & Control and Governance)
Management Accounting services
Management consulting
Payroll Services
Other Professional Business Advisory Services
Tax compliant
Trust and Estate Planning

BEE Consulting

It is becoming more evident that empowering your business will not only give you a competitive edge but is vital for the future survival of most businesses. However, your BEE strategy must be carefully structured to transform your business in the long term across all categories.

Ownership alone is not sufficient to achieve empowerment. All elements of your business must be considered from ownership, management, employment equity, skills development, preferential procurement, enterprise development, corporate social development. The Scorecard allocates points across all of these elements. To do this job effectively requires substantial time and knowledge of the legislation.

Our BEE service offering to clients includes

Drawing up your existing scorecard
Analyzing the apparent shortfalls
Designing a scorecard which you aim to achieve
Designing a plan of action to achieve the desired results

Business rescue

The New Companies Act provides for a process to rescue companies that are financially distressed. A company is in financial distress when it is likely to be insolvent in the near future.Business rescue proceedings may be initiated either by ordinary company resolution, or failing that, a court order.

Business rescue proceedings entail the appointment of a business rescue practitioner to supervise the company and its management on a temporary basis. During this time a moratorium is placed on the rights of claimants against the company.

As business rescue practitioners we are tasked with the development and implementation of a plan to rescue the company by restructuring its affairs, business, property, debt and other liabilities, and equity in a manner that maximizes the likelihood of the company continuing to exist on a solvent basis as per Act.

Financial Management

Financial and Cash management is key in any type of business and it can lead your business to be liquidated if not properly managed, hence the important of managing this on regular basis.

The service includes

Activity Based Costing (ABC)
Advice on how to fully managed and utilize cash flow
Business Performance Evaluation
Capital Budgeting including Sensitivity and Break-even analysis
Cost-Volume- Profit analysis (CVP)
Decision Making- (relevant costs and pricing & capacity utilization and constraints)
Drawing up the Financial strategy for your business
Financial statement analysis
Investment Appraisal
Management of Working Capital
Mergers and Acquisitions
Portfolio management
Profit Maximization
Standard Costing
Treasury function
Valuation of Business

Independent review (as required by new Companies Act)

In the wake of the enactment of the Companies Act 2008 and the recently issued draft regulations, the issuing of reports on financial statements has taken on a whole new meaning.

The Act and the proposed regulations impose new requirements on preparers of financial statements and introduce a new report to be issued on financial statements of companies by "independent accounting professionals". This report is known as an Independent Review and is an alternative report to the traditional audit issued by a registered auditor.

Private companies in South Africa will be able to replace the annual audit with an Independent Review. The act will do away with the formation of new CCs, although established CCs will continue to exist. In this way the act will align the reporting requirements of companies and close corporations, creating consistency and clarity.

Under the new Companies Act, only public companies are obliged to be audited. The objective of the new legislation is to simplify the regulation of small to medium-size enterprises and make it less costly, and more affordable to do business in South Africa

As required by law, Independent Reviewer must be registered members of a professional accounting body, and professional accounting body, should also be a member of the International Federation of Accountants, (IFAC), at MELORENG we fully comply with this requirement.

Internal Audit

It is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Internal auditing is a catalyst for improving an organization's effectiveness and efficiency by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice.

The scope of internal auditing within an organization is broad and may involve topics such as:

The efficacy of operations,
The reliability of financial reporting,
Deterring and investigating fraud,
Safeguarding assets, and
Compliance with laws and regulations.

This frequently involves measuring compliance with the entity's policies and procedures. However, we are not responsible for the execution of company activities; we advise management and the Board of Directors (or similar oversight body) regarding how to better execute their responsibilities.

Management Accounting Services

Management accounting and reporting is essential to all businesses. The success and profitability of a business can be severely affected by lack of good management reporting.

Management reporting needs to be tailored to the uniqueness of the company and designed in a format that is comprehensible and useful to management. Our Management reports highlights key financial information, indicators and ratios to be used for improved operational review and business decisions.

The service includes

Monthly transaction processing:

Processing of debtors invoices, credit notes and receipts.
Processing of creditors invoices, debit notes and payments.
Bank reconciliation.
Maintenance of your fixed asset register and depreciation journals.
Maintenance and reconciliation of the general ledger.
Processing of general journals.
Performance of month-end tasks and period roll-overs.

Monthly Management Accounts.
Annual financial statements as required by Companies Act, which are IFRS compliant
Budgets and Forecasts.
Annual returns as required by Companies Act.

Management Consulting

As a full service management consulting firm, MELORENG works with management to create better outcomes for the leadership, strategic, financial, organizational and/or operational challenges that face your business. The essence of management consulting is to help you obtain information and advice which leads to the real and lasting solution of a problem.

We strive to improve performance through analysis of existing business issues and development of future plans. Management consulting may involve the identification and cross-fertilization of best practices, analytical techniques, technology implementations, strategy development, or operational improvement.

As Management Consultants we provide unbiased recommendations and generally bring formal frameworks or methodologies to identify problems or suggest more effective or efficient ways of performing business tasks.

We add value by offering these management consulting services on a standalone basis.

Payroll Services

Organizations are responsible for the correct calculation, deduction and payment of PAYE and other statutory payments from the salaries of their staff. They have to comply with legislative requirements and minimize the negative effects of incorrect calculations on the cash flows of employees at the end of the tax year

In order help organizations achieve these objectives we can perform the following tasks

Maintain your payroll master information.
Calculate the relevant statutory reductions.
Prepare monthly payroll slips.

Other Professional Services

Other comprehensive services we offer comprises of

Assets Verification
Business Restructuring
Business start-up and Business Plans
Business Strategy
Due Diligence
Terms of Reference for Committee Meetings
Service Level Agreements and Constitutions
Operational Model
Company Secretarial function
Formulation of Accounting rules and procedures

Tax compliant

As the tax administration system becomes more involved and onerous. It becomes efficient to use a specialist that understands the official and unofficial procedures of SARS to perform certain interactions with SARS and negotiate on behalf of our clients.

We are well positioned to service you on this level based on the following

our in depth understanding of the procedures and requirements of SARS
our good reputation with SARS in terms of integrity and honesty
our understanding of the hierarchy of SARS and authority levels.
Our established relationships with existing SARS officials.
Our clear understanding of the taxpayers' rights.
Our in depth knowledge of the Income Tax Act and VAT Act.

As a result we offer a service to facilitate routine and non-routine communication with SARS. This would typically include

Attending to demands from SARS
Assistance with tax audits (VAT, PAYE and INCOME TAX)
Negotiations regarding reducing penalties and interest
Raising objections and related appeals
Obtaining SARS' rulings on specific issues
Registration for various taxes (VAT, PAYE etc)
Obtaining tax directives
Obtaining tax clearance certificates

Whilst preparing this, we also provide you with valuable tax advice and how to save on Tax.

We understands the important of being tax compliant and we always ensure that you receive the best service and all your returns are submitted on time to avoid any interest or penalties

Trust and Estate Planning

A Trust can be a very effective tool in ensuring your assets are protected against future attack from creditors as well as a tool to minimize Estate Duty. It is essential however that the trust deed is properly formulated and takes into account all current tax legislation. This will ensure that all the potential benefits of a trust are exploited.

When considering the appropriateness of a trust a review of the individuals' unique position and assets concerned is essential.

We make use of highly qualified specialist to advise clients on the most appropriate methods and vehicles to achieve efficient estate planning.

This would include

Registration of local and offshore trusts
Administration of Deceased Estates
Portfolio analysis and investment risk assessment
Portfolio Restructuring

The most important characteristic of a trust is the protection of its assets from creditors of the Trustees. This means that in court of law creditors, or the state as part of a deceased estate, cannot penetrate the trust.

As trustees it is imperative that you do your utmost to protect this status by maintaining the required records to establish the trust as a separate legal entity. This does not only mean adequate accounting records, Annual Financial Statements and Tax returns but also a register of minutes and resolutions.