Accounting

26 July 2022 Information: The old email address for registration cooperativesonline@cipc.co.za was disabled as a result therefore no application or enquiries must be sent to that email address. CIPC step by step guide for the registration of co-operatives is available on their website under “Step by Step guides” under co-operatives. Below are the email addresses …

Practice Note 4 of 2022: Closure of Co-Operatives online Email Read More »

7 July 2022 In response to President Biden’s executive order, the United States Treasury Secretary provided a framework for regulating digital assets. The goal is to use an interagency approach to address risks and maximize the potential benefits of digital assets like cryptocurrency and the underlying technology. One way to do this is through international …

Cryptocurrencies: US Treasury framework to regulate digital assets Read More »

Information CIPC noted that some public companies filed Financial Accountability Supplements instead of Audited Annual Financial Statements during the period 01 April 2020 to 31 March 2021. This is in contravention of section 33 of the Companies Act and directors of affected companies are thus urged to comply with their AFS filings requirements to avoid …

CIPC Media Release: Entities filing Financial Accountability Supplements (FAS) instead of Audited Annual Financial Statements (AFS) Read More »

Information The revised ISA 220 integrates the new quality management concepts in ISQM 1 into the audit processes performed for each engagement. The standard modernizes the approach to quality management and requires the engagement partner and engagement team to be proactive in managing and achieving quality. Specific responsibilities of the engagement partner identified as: Managing …

Revised ISA 220, Quality Management for an audit of financial statements Read More »

With implementation date fast approaching firms should already be in the process of designing their quality management systems. To whom does it applicable? Firms performing any form of assurance engagements or related services engagements, audits or reviews of financial statements will have to implement ISQM 1. The effective implementation date is 15 December 2022. By …

ISQM 1 Implementation date fast approaching Read More »

Notice 16 of 2022: Voluntary deregistration of companies and close corporations: Date: 2022-06-29 Companies and Intellectual Property Commission (“CIPC”) will from 1 July 2022 allow voluntary deregistration applications in terms of Section 82(3) of the Companies Act, 2008 (“The Act”) where the company or close corporation status is that of AR Deregistration. Status AR deregistration indicate that the company or close corporation has …

Read More Regarding Recent CIPC Notices Published And Compliance Due Read More »