If a Close Corporation does not need to be audited, do we need to submit a CoR30.2?

Submission requirements depend on your Public Interest (PI) score and company regulations. SAAA's technical resource centre provides comprehensive documentation on independent reviews and CoR30.2 filing frameworks.

Is there a contradiction between the timeframe of submission of voluntary audited annual financial statements for a close corporation?

Section 58(1) of the Close Corporations Act outlines specific parameters regarding whether financial statements must be completed within 6 or 9 months. SAAA provides expert legal compliance resources to clarify these close corporation deadlines.

POPIA: Looming deadline for Prior Authorisation applications

27 September 2021
South African Accounting Academy

Most organisations are able to process personal information by default. But some organisations (not all) need to get prior authorisation to process personal information from the information regulator before a certain date. POPIA stipulates that your organisation needs prior authorisation from the regulator if the personal information you process poses a high risk to your data subjects.

If you answer “YES” to any of the following questions, you need prior authorisation from the Information Regulator:

Does your organisation profile people?
Does your organisation process information on criminal behaviour or on unlawful or objectionable conduct on behalf of third parties?
Do you process information for the purposes of credit reporting?
Do you transfer special personal information or the personal information of children to a third party in another country that does not have an adequate level of protection for the processing of personal information as referred to in section 72?

The Information Regulator published 2 Guidance Notes on the procession of Special Personal Information or the personal information of children, on 28 June 2021. Click on the following link to access these Guidance Notes: https://www.justice.gov.za/inforeg/docs.html

Click here to download the application forms for submission to the Information Regulator:

Get all your CPD online. SA Accounting Academy (SAAA) offers Subscription Plans, Live Webinars, Webinars On-Demand, Access to Experts, Courses, Articles and more: https://cpd.accountingacademy.co.za.