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.

UIF TERS Benefits extended

27 July 2021
South African Accounting Academy

This third phase will bring relief for the following categories of workers:

Workers who have not been able to work from 16 March 2021, due to Level 1, 2 and 3 restrictions preventing gatherings of a certain number of people – such as in the entertainment industry;
Workers who were and or are still impacted upon by the Level 4 restrictions which commenced on 28 June 2021; and
Workers who have not been able to work due to the fact that they are over 60 or have co-morbidities and have not been able to work in the period as well as those who have had to isolate or go into quarantine.

The period the direction covers ends on 25 July 2021, with payments commencing on 26 July 2021.

The application process and the information or documents required are the same as with the previous extensions, except in respect of the processing of payments directly into the employees’ accounts.

Qualifying sectors for Phase 3 of the Covid Ters are identified in Annexure A of the direction which includes venues hosting auctions, professional sports, where social events are held and venues hosting concerts and live performance.

Annexure B contains all sectors affected by Level 4 lockdown restrictions including restaurants, the liquor industry, hospitality and tourism as well as any industries and business establishments that form part of these value chains.

Click here to download the letter that was sent to employers in this regard:

https://mcusercontent.com/7af202f977bc5dbad675398d7/files/ffca79c4-20b1-b75f-d4a4-f80532de29a4/TERS_Extension_Employer_letter_18.07.2021_2_6.pdf

Click here to download the Level 4 Direction on Extension of COVID-19 TERS benefit document:

http://www.labour.gov.za/DocumentCenter/Publications/Unemployment%20Insurance%20Fund/Level%204%20Direction%20on%20Extension%20of%20Covid-19%20Ters%20Benefit.pdf

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.