Independent Review Services

Independent reviews that balance assurance, efficiency, and practicality

Hobbs Sinclair provides independent review services that help businesses meet reporting requirements with a professional, efficient process that is proportionate to the level of assurance needed.

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Right-sized assurance

A professional review without the depth of a full audit

Efficiency focused

A process designed to meet compliance requirements cost-effectively

Trusted reporting

Clearer financial information for management and stakeholders

Who this service is for

businesses that need an independent review rather than a full audit
teams that want a more efficient assurance process
companies that need reporting ready for stakeholders or compliance purposes
businesses that want clarity on what is required and how to prepare properly

Why this matters

Independent reviews run more smoothly when the requirements, reporting framework, and underlying information are clarified early. Leaving preparation too late often increases pressure, delays, and unnecessary disruption.

Not every business needs a full audit

An independent review offers a professional perspective on your financial information without the depth of a full audit. Hobbs Sinclair helps you meet the required standard while keeping the process focused and commercially sensible.

Our independent review support includes

Planning and preparation

Understanding the reporting requirement
Preparing for an efficient review process
Identifying what information is needed upfront

Review of financial information

Professional review of financial information
Support for fair and transparent presentation
A focused process aligned to the required level of assurance

Compliance and reporting support

Meeting applicable requirements
Efficient, proportionate assurance support
Clear communication throughout the process

Why clients choose Hobbs Sinclair for independent reviews

A professional perspective

We help bring clarity and structure to the reporting process.

Efficient and focused

The process is designed to meet the need without unnecessary depth or cost.

Practical communication

We keep the process understandable, organised, and commercially realistic.

How we work

Scope the requirement

We establish what is needed, what framework applies, and what information should be prepared.

Perform the review

We carry out the review in a focused, professional way with clear communication throughout.

Finalise the outcome

We help ensure the process is completed properly and that the reporting outcome is ready for use.

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Frequently asked questions

Does my company need an Independent Review or a full Audit?

The requirement is determined by your Public Interest (PI) Score. Generally, an Independent Review is the legal alternative to an audit for private companies if:

Your PI Score is below 350 and your financial statements are compiled by an independent external accountant.
Your PI Score is below 100 if your financials are compiled internally.
Your company is not "owner-managed" (meaning the shareholders and directors are not the same people). If you aren't sure of your score, we can calculate it for you in minutes using your turnover, employee count, and third-party liabilities.

What is the difference between "Limited Assurance" and a full Audit?

An audit provides "reasonable assurance" through deep testing and physical verification, which is often time-consuming and expensive. An Independent Review provides "limited assurance." We focus on analytical procedures and management inquiries to ensure your financial statements are plausible and free of material misstatement. It offers the credibility you need for stakeholders but with a significantly faster turnaround and lower cost than a full audit.

Will a bank accept an Independent Review for a loan application?

Yes, in most cases. Most South African banks and lenders accept Independent Reviews for small to medium-sized enterprises (SMEs) as sufficient proof of financial health. It provides them with the professional "stamp of approval" they require to trust your balance sheet. However, we always recommend checking your specific loan covenants or Memorandum of Incorporation (MOI), as some older agreements may still explicitly request a full audit.

Can the same person who does my bookkeeping perform the Review?

No. To maintain "independence" as required by the Companies Act, the person performing the Independent Review cannot be the same person who prepared the financial statements. At Hobbs Sinclair, we ensure strict regulatory compliance by assigning a qualified professional to your review who was not involved in your day-to-day bookkeeping, giving you a clean, compliant, and objective report.

Need an independent review?

Speak to Hobbs Sinclair about an independent review process that is professional, efficient, and aligned with your reporting requirements.