CIPC | Beneficial Ownership Reporting Deadline and Online Process for Directors’ Amendments

Beneficial Ownership Reporting We are fast approaching the first anniversary of the Companies Act amendments which mandated the Companies and Intellectual Property Commission (“CIPC”) to oblige entities to disclose their beneficial ownership information to it from 24 May 2023. Until now, CIPC has not communicated a clear deadline for beneficial ownership reporting. However, on 6 […]

Beneficial ownership and the importance of filing annual returns

Beneficial ownership In response to South Africa being greylisted due to non-compliance with international standards relating to the prevention of money laundering and terrorist financing, Parliament enacted the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act in December 2022, which mandated the amendment of the Companies Act. These Companies Act amendments, which came […]

The importance of internet banking controls

We often find that our clients, especially smaller firms, are of the opinion that establishing security controls is not cost-effective. Yet, it is often in these very situations, where management places all of their trust in a bookkeeper, that fraud flourishes. After all, it is human nature to trust those with whom we have established […]