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.

SAICA POPIA Guide

09 June 2022
South African Accounting Academy

The fact sheets summarise certain important principles that assist in the understanding and implementation of the Act.

Fact Sheets:

Fact sheet 1 - Overview of the 8 conditions of the Protection of Personal Information Act
Fact sheet 2 - Understanding data subject rights
Fact sheet 3 - Direct marketing - Staying on the right side of the law
Fact sheet 4 - Basic information security checklist for small, low-risk business owners

Click here to download the SAICA POPIA Guide:

https://www.saica.org.za/resources/legislation-and-governance/protection-of-personal-information-act-popia/technical-resources-11

Relevance to Auditors, Independent Reviewers & Accountants:

POPIA is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
As an auditor and independent reviewer, you need to consider must consider the application of POPIA to their business activities. POPIA provides members in business and members in practice with the responsibility for the personal information that they have access to in the conduct of their work.

Relevance to Your clients:

This guide is aimed at accountants specifically, but may also prove useful for information purposes to your clients.

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