The Department of Trade and Industry published the final Regulations on the Companies Act on 20 April 2011.

This document includes an overview of the new arrangements that will apply to close corporations regarding the audit requirement, independent review and the financial reporting standards applicable. For all year-ends up to and including 30 April 2011 CCs will comply with the existing requirements, viz. an Accounting Officer’s Report accompanying financial statements drawn up based on accounting policies chosen/designed by the CC in question.

The GreatSoft team responded to an appeal from the Little Fighters Cancer Trust in March 2011 and donated a wheelchair.

View Thank You letter from the trust

DTI Minister Rob Davies today announced that President Jacob Zuma finally signed the Companies Amendment Bill.

The Companies Act, 2008 and implementation of the Companies and Intellectual Property Commission (CIPC) will therefore finally become effective 1 May 2011.

Important issues accountants and attorneys need to note are:

- The effect of the Comapnies Act, 2008 on the relationship between its advisors and clients.
- The drafting of a Memorandum of Incorporation (MOI) for an owner-managed entity.  
- Audit vs Independent Review.
- Various business forms, and electing a business entity to best suit the needs of the company and shareholders.

Professors Walter Geach and Tshepo Mongalo will be presenting a practical step-by-step workshop in May to address the practical issues to implement the Companies Act, 2008 and advise accountants and attorneys on possible solutions

GreatSoft is proud to host workshops to explore the new Companies Act with Adv Rory Voller, Deputy Registrar of the new Companies Commission. Come and find out more about the impact of the new Companies Act on you and your clients.

Click here to View Workshop Details