Net-worth, turnover, visa and utilisation certificate support
Audit support
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On demand
The wording requested by a bank, embassy, tender authority or grant provider determines what evidence a financial certificate needs. A figure prepared for one recipient may use a different definition, date or valuation basis from the figure another recipient requires.
TheTaxCo. reviews the requested certificate wording and prepares and reconciles the supporting schedules and evidence. Where the law needs a Chartered Accountant’s signature, an independent practising Chartered Accountant carries out that work and signs it. TheTaxCo. does not sign audits or certificates. The same applies where a bank, embassy or other recipient, rather than the law, asks for a certificate signed by a Chartered Accountant. We first establish the intended use and what evidence the requested wording will need.
Choose the certificate by purpose
Certificate or report | What must be established |
|---|---|
Net worth | Whose assets and liabilities are covered, the statement date, ownership, valuation basis and relevant encumbrances |
Turnover | The reporting period, entity and exact definition of turnover required by the recipient |
Visa-related financial statement or certificate | The recipient’s financial evidence requirement, ownership and availability of the stated resources, and the supported amounts |
Utilisation | The grant or funding conditions, receipts, eligible expenditure, period, unspent balance and prescribed reporting format |
These assignments share a need for reliable evidence, but they are not interchangeable. A generic letter stating that finances are “sound” does not answer a recipient’s specific request.
Net worth: identify the assets and the liabilities
We assemble the information supporting each item and the basis on which it is presented. A bank balance, investment statement, property value and business interest may require different evidence. Joint ownership, borrowing secured on an asset and other liabilities affect the statement.
A property’s purchase price, book value and current valuation can differ. The required basis must be identified, and an appropriate valuation may be needed where the requested statement depends on it. Adding estimated asset values while omitting related debts would misstate the position.
The statement is tied to a date. Later transactions can change it, so an older certificate should not be treated as evidence of the same position indefinitely.
Turnover: reconcile the definition and period
The recipient may require turnover from financial statements, a particular activity, a project or another defined basis. The request determines the schedule. We reconcile the relevant books and supporting records and explain differences affecting the stated amount.
Tax returns, bank credits and revenue in the accounts can differ for legitimate reasons. Loans, transfers between accounts, advances, taxes, credit notes and timing differences need appropriate treatment. A total of bank receipts is not automatically turnover.
Where the required definition is unclear, clarification is needed before the certificate is finalised. The report should explain its basis instead of giving a precise number whose meaning is uncertain.
Visa and utilisation requirements
For visa-related work, we start with the actual requirement from the embassy, consulate or processing authority. The statement should identify the applicant or sponsor, relevant resources and evidence. We do not imply that a financial certificate establishes visa eligibility or guarantees approval.
For utilisation work, the grant agreement or sanction and prescribed format are essential. We connect receipts and expenditure to the agreed purpose, supporting invoices, payment records and books. Amounts spent, committed but unpaid, disallowed or unspent must be treated according to the applicable conditions.
A budget allocation does not establish that expenditure occurred. Likewise, money leaving a bank account does not by itself prove that the spending qualifies under the grant. The examination must address the definition the funding provider requires.
From records to an issued document
The assignment begins with the recipient’s request, format, period or date, deadline and the party whose information is covered. A tailored evidence checklist follows. We reconcile the schedules, assemble the supporting evidence and resolve material differences. Whether a certificate can be issued is decided by the Chartered Accountant who signs it.
Management or the applicant remains responsible for the underlying information and relevant representations. The signed certificate states its basis, purpose and any necessary limitations. If evidence cannot support the requested assertion, the wording may need to change or the certificate may not be issuable in that form.
Preparation and timing
The type of certificate, number of assets or transactions, record quality, need for valuation, prescribed procedures and recipient’s wording determine the work. A short final document may require substantial examination. We set the preparation timetable after reviewing the request and identifying the evidence available.
At the start we record the certificate requested, the supporting schedules we prepare and the agreed recipient. Changes to the period, purpose or financial information may require fresh work rather than a simple date change.
Can a certificate be issued from a self-declared total?
A declaration may form part of the evidence, but it does not automatically support every assertion. The procedures and records needed depend on the certificate and its purpose.
Will the recipient accept the certificate?
We review the stated format and qualification requirements and help with supporting schedules if the recipient has queries; questions about the issued certificate itself are for the Chartered Accountant who signed it. A new date, purpose or financial position requires a fresh review. Acceptance remains with the recipient, who may seek additional information or a different prescribed document.
What should I send first?
Start with the exact request or blank format, intended recipient, period or date and deadline. The detailed financial records can then be requested for the actual assignment.
For a separate valuation, see valuation support. Email TheTaxCo., message us on WhatsApp or book a call about the preparation work. Share the certificate request so we can identify the records and schedules we’ll prepare.