South Africa expansion, its Outsourced Audit on Steroids!

Our recent expansion into South Africa marks a significant milestone in our growth journey, which has seen us double in size over the past two years, with momentum expected to continue, if not accelerate over the course of the next two years.

This strategic approach has led to the establishment of four offices in India, with plans to open another in the first half of 2024 and potentially two more within the following 18 months.

And then there was the expansion into South Africa. The latest addition to our global presence is a new office just outside Johannesburg. This office is dedicated to delivering a comprehensive outsourced audit solution for accounting firms.

The Audit market has never been so challenged with resource constraints, increased regulation and inflation. We recognised the need to help solve this dilemma and we believe we have gone a long way to creating an enviable solution for the market.

What we are doing is like nothing you will have experienced from an external provider. GI is all about innovation, it’s not just tried and tested, it’s evolved and tested! We are uniquely able to do that through our group accountancy practices.

GI Outsourcing forms part of the Macalvins Group, with whom we often collaborate for training and to pilot new services. Macalvins Chartered Accountants is a registered PIE auditor.

Being a PIE auditor upholds you to the highest standard with regular FRC and ICAEW QAD assessments.

In conjunction with Macalvins Chartered Accountants, starting in 2022 and throughout 2023, we piloted Enhanced Audit Outsourcing Services in an incubated environment.

A remarkable 70 to 80 per cent of the Audit work is already being undertaken in South Africa.

Our offering is unique, allowing audit firms to outsource almost all of their audit work required to deliver comprehensive solutions to clients, leaving you to focus on RI review and client relationship management.

The choice of South Africa as a location was influenced by several factors.

Notably, it is an English-speaking nation with audit practices closely resembling those in the UK. Additionally, the time zone alignment, cultural similarities, and the parallels in accountancy profession and auditing methodologies with the UK, particularly in embracing automation, make South Africa an ideal location.

The demand for services from the South African office has exceeded expectations, prompting plans for significant investment in expanding the base over the next twelve months. This expansion will introduce our valued clients to our outsourced service offerings.

Our service offering in South Africa supported by our UK team stands out in the market for its comprehensiveness and uniqueness. It goes beyond other support service offerings in this space, providing a more complete solution compared to competitors.

This expansion not only signifies our growth but also our commitment to providing innovative and expert solutions to meet the evolving needs of its clients globally.

For more information about how our Enhanced Auditing Outsourcing Services can benefit your firm, please contact us today.

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