EY POWERING FINANCIAL AGILITY AND GROWTH ACROSS KWAZULU-NATAL

In 2025, KwaZulu Natal (KZN) is home to approximately 4,077 registered companies, with Durban leading at 2,303, followed by Pietermaritzburg at 271, and Newcastle at 93. This diverse business landscape includes sectors such as manufacturing, logistics, retail, and services, each facing unique financial reporting and compliance challenges.

As regulatory demands intensify and digital transformation accelerates, Financial Accounting Advisory Services (FAAS) have become essential for organisations aiming for transparent, compliant, and insightful financial reporting.

 South Africa’s FAAS market is experiencing significant growth. This growth is driven by the increasing complexity of financial regulations, the adoption of International Financial Reporting Standards (IFRS), and the need for enhanced financial transparency across various industries. As the demand for financial advisory services rises nationally, businesses in KwaZulu-Natal are experiencing these challenges firsthand.

They are navigating more complex regulations, adapting to new IFRS standards, and seeking smarter, tech-enabled solutions to stay competitive. In response, EY has positioned its FAAS team in KZN to meet this growing need with a robust suite of services and local expertise designed to deliver real impact.

EY’s FAAS team in KZN offers a full spectrum of advisory and technical services tailored to meet the region’s unique business challenges. This includes:

■ IFRS Implementation and Technical Accounting: Guiding clients through complex IFRS transitions, including the critical IFRS 18 rollout, helping to update accounting policies and streamline disclosures.

■ Financial Reporting and Audit Remediation: Assisting in preparing and reviewing financial statements, addressing audit findings, and reinforcing internal controls to elevate reporting quality and compliance.

■ Process Redesign and Automation: Leveraging AI and advanced analytics to transform finance functions by automating reconciliations, optimising the financial close process, and supporting multi-GAAP and multi-jurisdiction reporting requirements.

We harness innovative technology platforms that redefine finance operations such as DigiFAAS, Ledger IQ and DigiART AI:

■ DigiFAAS: This automated solution prepares consistent and accurate standalone and consolidated financial statements, reducing manual effort through standardized processes and interactive data management.

■ Ledger IQ: This AI-powered analytics platform enables finance teams to interrogate financial data using natural language, automate reporting, and maintain transparent audit trails.

■ DigiART AI: This platform utilises artificial intelligence to streamline transaction reconciliations, offering real- time insights and controls through dynamic dashboards, enhancing accuracy and efficiency.

 At its core, EY’s FAAS offering empowers organisations across KwaZulu-Natal to move faster, report smarter, and operate more efficiently.

By accelerating financial statement close cycles while improving accuracy and transparency, embedding predictive analytics into planning and forecasting, and freeing finance teams from manual processes to focus on more strategic priorities, FAAS unlocks new levels of performance and insight across the finance function. Backed by deep local expertise and global capabilities, EY KZN brings a unique understanding of the region’s business landscape, offering tailored support navigating the complexities of evolving regulations, multi GAAP reporting, and digital transformation.

Our relentless focus is to deliver solutions that drive compliance, build operational excellence, and enable sustainable growth. With EY’s FAAS, businesses in KwaZulu-Natal can confidently face the future, equipped with the tools and expertise needed to thrive in a dynamic and challenging environment.

T: +27 (0)31 576 8000

E: Farouk.Ebrahim@za.ey.com

W: www.ey.com

Farouk Ebrahim