All companies that are subject to a MANDATORY / STATUTORY audit. For independent reviews & voluntary audits, companies MAY CHOOSE to submit AFS.
AS PER REG 28
- All companies whose AFS must be audited
- All public companies
- Listed on JSE
- Organ of the state
- Private company with PIS of 350+
- Non-profit company with PIS of 350+
- PIS below 350, but PIS is above 100, and AFS have been internally compiled
- PIS = calculated per Regulation 26 (2)
- 3rd party liabilities
Please note that the information provided does not constitute legal or professional advice, but rather the applicability of existing theory to a given practical situation. Due care is taken to ensure that the information is correct, but it remains subjective and an interpretation of application of information.