Accounting

Due to scheduled system maintenance on all CIPC systems, no applications/services will be available during the following period: START: Friday, 19 May 2023 – 16h00END: Monday, 22 May 2023 – 07h00 You can read Notice 27 here.

The Companies and Intellectual Property Commission (CIPC) received numerous complaints that CIPC documents (web disclosures, confirmation letters, and registration certificates) when presented to other institutions, are not always accepted. Notice 26 was issued on 8 May 2023 addressing these concerns. A full disclosure certificate can be obtained via the CIPC website, at the cost of …

CIPC Notice 26 addressing concerns relating to the Online verification of CIPC disclosure certificates Read More »

The case between CIPC (Applicant) and Selective Empowerment Investments 1 LTD, (Respondent) came to an end when the Court placed the Company under final winding up on 24 April 2023. CIPC brought a liquidation application against the Company in terms of Section 81(1) (f) of the Companies Act after numerous compliance notices, which included reckless …

CIPC brings a liquidation application against Selective Empowerment Investments 1 LTD Read More »

On 20 April 2023, CIPC issued Notice 25 stating that as there is an influx of calls due to the deregistration of several enterprises, the call center will operate from 07h30 in the mornings until 17h00 in the afternoons from Mondays to Thursdays for a limited period. You can read Notice 25 here.

On 20 April 2023 CIPC issued a non-binding legal opinion on the interpretation and implication of Section 61(7) and (10) of the Companies Act, 2008, specifically on the holding of AGM’s by listed companies via electronic means. The focus was on whether listed companies can hold AGMs via electronic means and still be considered in …

CIPC issued legal opinion on whether companies can hold virtual Annual General Meetings (AGMs) Read More »

31 March 2023   CIPC will be commencing  the final deregistration of all companies and close corporations which have been in the Annual Return Deregistration process for more than three (3) years and for which the notification process as per Companies Regulation 40 has been completed. So far, CIPC deregistered six hundred and forty-seven thousand, …

Notice 19 & 20: Annual Return Deregistration Process of Companies and Close Corporations Read More »

8 March 2023   PAFA is inviting Proposals from Consultants to update the guidance on quality assurance reviews considering the new ISQM, ISA 220 (Revised), and other international developments.   Consultants should carefully review the Request for Proposals (RFP) and ToR before submitting the Proposal Form. The Proposal Form should be submitted only if the …

PAFA Request for Proposals to Update the Guidance on Quality Assurance Reviews Read More »

The Companies and Intellectual Property Commission (CIPC), on behalf of the Department of Trade, Industry, and Competition, has invited interested parties to submit written comments on the draft regulations of the Companies Act 71 of 2008, as amended. The General Laws (Anti-Money Laundering and Combating of Terrorism Financing) Amendment Act, 2022 (Act No. 22 of …

Draft regulations for reporting on beneficial ownership information Read More »

6 March 2023 The International Sustainability Standards Board (ISSB) held a symposium on 17 February, attended by over 1,000 people from 45 countries. Seven key takeaways emerged from the event. You can read the full article on the IFRS website here.

8 March 2023 The International Accounting Standards Board (IASB) published Guidance for developing and drafting disclosure requirements in IFRS Accounting Standards (Guidance). The new approach aims to help the IASB create accounting standards that provide more useful information to investors. The Guidance sets out an approach that involves: The IASB intends to use this Guidance when developing …

IASB developed an improved approach to help create accounting standards Read More »