What is the Financial Accountability Supplement (FAS)

1. The name of the person primarily responsible for recording the day to day financial transactions and maintaining the company’s financial records.
2. The name of the person primarily responsible for compiling the financial information and preparing reports and statements for the company.
3. The person who provides advice to the company concerning the maintenance of financial records.
4. The name of the person performing the independent review of the annual financial statements.
5. Indicate how the company maintains its financial records – manually in paper based records, or electronically.
6. Indicate how the company prepares bank reconciliations, balance sheets and income and expense statements.
7. If the company deals in goods, with what frequency it carries out stock takes.
8. If the company holds any assets in fiduciary capacity for persons not related to the company, as contemplated in Regulation 28(2/(b).

Disclaimer:

In the event that a company is not required to submit annual financial statements with the annual return, or (if permitted) elect not to submit their annual financial statements with the annual return, the company is obliged to complete and submit a COR30.2 Financial Accountability Supplement. This supplement requires the company to declare the following information to the CIPC:

In the event that a company is not required to submit annual financial statements with the annual return, or (if permitted) elect not to submit their annual financial statements with the annual return, the company is obliged to complete and submit a COR30.2 Financial Accountability Supplement. This supplement requires the company to declare the following information to the CIPC: