Chokes Chartered Accountants.

Chokes Chartered Accountants. Chartered Accountants and Tax Practitioner's.

04/09/2026

KNOW THE TERM: MATERIALITY

What does “Materiality” mean—and why does it matter?

Materiality means the significance of an omission or error to the decisions of users of financial information.

Why it matters: Because even a small amount can matter when it involves trust money, fraud, compliance or a key disclosure.

04/09/2026

VERIFY EMPLOYEE BANKING CHANGES

Is “Verify employee banking changes” treated as a routine administrative matter?

Verify employee banking changes.

Why it matters: Because use an independent channel and reliable evidence before redirecting salary.

03/09/2026

CONTROL TERMINATIONS PROMPTLY

Is “Control terminations promptly” treated as a routine administrative matter?

Control terminations promptly.

Why it matters: Because final pay, leave, access, benefits, certificates and payroll removal should follow a documented process.

03/09/2026

PREVENT NEGATIVE CREDITOR BALANCES

Is “Prevent negative creditor balances” treated as a routine administrative matter?

Prevent negative creditor balances.

Why it matters: Because a payment must not cause one client’s matter to use money belonging to another.

02/09/2026

REVIEW EXCEPTION REPORTS

Is “Review exception reports” treated as a routine administrative matter?

Review exception reports.

Why it matters: Because duplicate accounts, negative net pay, unusual overtime and sharp movements require explanation.

02/09/2026

RECONCILE TRUST FREQUENTLY AND COMPLETELY

Is “Reconcile trust frequently and completely” treated as a routine administrative matter?

Reconcile trust frequently and completely.

Why it matters: Because the reconciliation must include all bank accounts, investments, creditor listings and reconciling items.

01/09/2026

KNOW THE TERM: BAD-DEBT PROVISION

What does “Bad-debt provision” mean—and why does it matter?

Bad-debt provision means an estimate of billed amounts that may not be collected.

Why it matters: Because an unpaid invoice should not continue overstating assets and profit when recovery is doubtful.

01/09/2026

KNOW THE TERM: TRUST INVESTMENT INTEREST

What does “Trust investment interest” mean—and why does it matter?

Trust investment interest means interest earned on trust investments and dealt with according to the governing legal provisions and mandate.

Why it matters: Because interest does not automatically belong to the client or the practice merely because it arose on trust funds.

31/08/2026

CLOSE THE BOOKS MONTHLY

Is “Close the books monthly” treated as a routine administrative matter?

Close the books monthly.

Why it matters: Because unresolved items accumulate and become harder to explain when the accounting records remain open indefinitely.

31/08/2026

SEPARATE PAYROLL PREPARATION AND RELEASE

Is “Separate payroll preparation and release” treated as a routine administrative matter?

Separate payroll preparation and release.

Why it matters: Because the person calculating payroll should not alone control the final bank payment.

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13 Kosmos Road Kempton Park
Kempton Park
1620

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