About this Course
The Companies Act Short Course is flexible to your timetable, enabling you to fit your studies around your work and social commitments.
The current Companies Act became effective on the 1st of May 2009 and has now matured to a point where it is now being taken for granted 11 years later. Having said that, it is vital that everyone in the accounting / auditing fraternity understands the basics of this cornerstone legislation of the corporate world.
Our Companies Act Short Course is designed for the accountant who is just starting out, as well as the practitioner that wants a refresher on the Companies Act and how it has settled down into the South African corporate landscape.
This course with our technical expert Caryn Maitland CA(SA), is structured into bite-sized pieces that are topic related and designed to give an overview and insight into the Act and its day-to-day practical application.
Learning Objectives
- Calculating the Public Interest Score and its impact on assurance
- The overarching principle, concepts of the Act and types of Companies (CC's and NPOs included)
- Drafting a Memorandum of Incorporation
- Being a Shareholder and Shares - Rights, obligations and responsibilities
- Being a Director - Rights, obligations and responsibilities
- Accounting, Assurance, Governance and Transparency
- Business Rescue and Liquidation
- CIPC, the Tribunal, The Takeover Panel and other role players
Delivery
The course is delivered through the SA Accounting Academy online learning platform. It is divided into modules that are easily digestible. In this way you can maintain a work-life balance whilst studying and improving your professional skills.
Is this course for you?
Anyone, whether a trainee or a practising professional in the field of Accounting, Audit and Tax can attend this course in order to update their knowledge on the Companies Act.
Lecturer
Caryn Maitland CA(SA)
Caryn Maitland CA(SA) has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA. She has lectured Auditing, Financial Management and Accounting at various institutions for learners up to the MBA and Postgraduate Diploma levels. She has also conducted independent workshops and seminars for professional accountants since 2006 on various topics. Between 2011 and 2013, Caryn had a two-year stint as visiting Associate Professor at the University of Limpopo. Caryn is currently technical advisor to various SAICA District Associations. She is also a platform presenter for SAICA, SA Accounting Academy, ICB and Chartered Secretaries of SA. Since 2018 she has worked extensively with commerce and industry, assisting analysts, directors and other users of financials to interpret, prepare, analyse and forecast based on the results of financial statements.
Prerequisites / Admission Requirements
Anyone can attend this course. There are no minimum entry requirements.
Accreditation
This course is aligned to the International Federation of Accountants (IFAC) International Education Standard (IES) 7 and is recognised for CPD / CPE by relevant accounting professional bodies which will give you 8 CPD / CPE hours.
Assessments
This course includes formative assessments to test your knowledge throughout the modules. Learners must achieve all competencies of the course.
Assessment and Certification
On successful completion (i.e. competence in all modules) of this course the learners will be awarded:
- Confirmation of Completion Certificate from SA Accounting Academy
Curriculum
Modules:
- Module 1: Calculating the Public Interest Score and Its Impact on Assurance
- Module 2: The Overarching Principle, Concepts of the Act and Types of Companies (CC's and NPOs included)
- Module 3: Drafting a Memorandum of Incorporation
- Module 4: Being a Shareholder and Shares - Rights, Obligations and Responsibilities
- Module 5: Being a Director - Rights, Obligations and Responsibilities
- Module 6: Accounting, Assurance, Governance and Transparency
- Module 7: Business Rescue and Liquidation
- Module 8: CIPC, the Tribunal, the Takeover Panel and Other Role Players
Module 1: Calculating the Public Interest Score and Its Impact on Assurance
Overview:
We will break down the 4 elements of the PI Score calculations, discussing the practical challenges of each element. We will also tackle the impact of the PI Score on:
- The assurance requirements of the Companies Act (Whether to perform an audit or an independent review); and
- The accounting framework selection for a company.
We will close off by discussing other consequences and impacts of the PI Score.
Learning objectives:
- Understand the 4 elements of PI Score calculations;
- Know the challenges of calculating the PI Score;
- Understand the impact of the PI Score on the assurance engagements;
- Understand the impact of the PI Score on selected accounting framework; and
- Understand other consequences of the PI Score.
Content:
- What is the PI Score?
- Calculating the PI Score:
- The 4 elements.
- Practical challenges.
- PI Score impact on assurance engagements.
- PI Score impact on accounting framework.
- Other consequences and impact of the PI Score.
Module 2: The Overarching Principle, Concepts of the Act and Types of Companies (CC's and NPOs included)
Overview:
We look at the core ideas and principles of the Act, including overarching principles such as shareholder activism, solvency and liquidity, constructive notice, related parties, types of companies as well as the Act's position within the framework of statute.
Learning objectives:
- Understand shareholder activism;
- Understand solvency and liquidity;
- Understand constructive notice;
- Know about related parties; and
- Know the different types of companies.
Content:
- Definition of a shareholder.
- Shareholder activism.
- Solvency and liquidity.
- Constructive notice.
- Who are related parties?
- Types of companies explained.
Module 3: Drafting a Memorandum of Incorporation
Overview:
The Memorandum of Incorporation (MOI), is the most important document under the Companies Act. Here we will unpack why this document is important, what needs to be included in it, and considerations to be looked at when drafting an effective document.
Learning objectives:
- Understand what an MOI is;
- Understand the importance of an MOI for every company;
- Understand how to draft an effective MOI;
- Understand important inclusions; and
- Know how to amend an existing MOI.
Content:
- What is a Memorandum of Incorporation?
- Purpose of an MOI.
- Drafting an MOI and templates available.
- Items that must be included.
- What can be changed?
- How to amend an MOI.
- Advantages of having an MOI.
Module 4: Being a Shareholder and Shares - Rights, Obligations and Responsibilities
Overview:
Company shareholders and directors are important stakeholders of a company. Here we are going to discuss these important stakeholders' rights, obligations and responsibilities in two separate sessions. We will discuss shareholders first by looking at their rights, responsibilities, meetings and access to information. We will also cover all the issues around securities in the form of shares and debt.
Learning objectives:
- Understand the capitalisation of a company;
- Know the different types of shares and other securities;
- Understand the authorisation of shares, buy backs and distributions;
- Understand financial assistance available to companies; and
- Understand shareholders' rights, obligations and responsibilities.
Content:
- Capitalisation of a company:
- Types of shares.
- Authorisation of shares.
- Securities other than shares.
- Share buy backs and distributions.
- Financial assistance.
- Shareholders' rights, obligations and responsibilities wrt:
- Meetings.
- Resolutions.
- Proxies.
- Dispute resolution options.
- Relationship with directors.
Module 5: Being a Director - Rights, Obligations and Responsibilities
Overview:
Having covered the rights, obligations and responsibilities of shareholders, we will now look at the same for directors. Directors need to fully understand their obligations, liabilities as well as what is expected of them with respect to their code of conduct. Here we will clearly identify what defines a director, what makes them eligible, what disqualifies them, how they can be removed, and so on. As far as directors' conduct is concerned, we will unpack indemnification and good corporate governance through committees.
Learning objectives:
- Understand what makes one eligible to become a director;
- Know how a director is appointed, removed and disqualified;
- Understand directors' liabilities and indemnification;
- Understand how directors should conduct themselves as per the code of conduct; and
- Understand that directors have the duty to uphold good corporate governance.
Content:
- Appointment and eligibility of directors.
- Removal and disqualification of directors.
- Directors' liabilities and indemnification.
- Directors Code of conduct.
- Meetings, resolutions and dispute resolution.
- Committees and other governance issues.
Module 6: Accounting, Assurance, Governance and Transparency
Overview:
So far, we have covered types of companies, how to draft an effective MOI, stakeholders' rights, obligations and responsibilities, as well as important concepts of the Act. We started off by looking at the PI Score. Here we will now cover everything from accounting records to financial statements and assurance. We will unpack the issues surrounding the auditor and independent reviewer, as well as the role of the Company Secretary, Audit Committee, and the Social and Ethics Committee.
Learning objectives:
- Understand the different types of company records and their importance;
- Understand accounting records and financial year-ends.
- Have an appreciation of the importance of different types of assurance engagements;
- Understand what reportable irregularities are; and
- Understand annual returns, the CIPC and related issues.
Content:
- Form, location and access to company records.
- Accounting records.
- Financial information including AFS.
- Revisiting the PI Score.
- Assurance: Audit vs Independent Review.
- Reportable Irregularities.
- Voluntary vs Statutory Audits.
- Annual returns and related issues.
Module 7: Business Rescue and Liquidation
Overview:
Here we will essentially cover the death of a company. We will look at the challenges around business rescue and the overview of the process and where the law stands with regards to the occurrence of the unfortunate issue of company insolvency.
Learning objectives:
- Understand what business rescue is;
- Understand what liquidation is;
- Understand business rescue proceedings;
- Be aware of the rights of affected persons; and
- Know how a company is voluntarily or involuntarily wound up.
Content:
- The complexities of financial distress vs going concern.
- Revisiting reckless trading.
- Business Rescue:
- The proceedings of business rescue.
- The business rescue practitioner.
- Rights of affected persons.
- The business rescue plan.
- Compromise with creditors.
- Voluntary vs involuntary winding up of a company.
- Deregistration of a company.
Module 8: CIPC, the Tribunal, the Takeover Panel and Other Role Players
Overview:
Here we will pick up on all the bits and pieces not covered elsewhere, as well as other major role players in the Act. We will also cover the CIPC's powers, documents that need to be filed with the CIPC, offenses and penalties, and finally, an overall wrap up.
Learning objectives:
- Understand fundamental transactions.
- Know who the Takeover Panel is and its functions.
- Be aware of the CIPC's powers and requirements.
- Be aware of the Companies Tribunal and its functions; and
- Be aware of penalties and offences, and how to avoid them.
Content:
- Fundamental Transactions.
- The Takeover Panel and affected transactions.
- The CIPC's powers.
- Documents that need to be filed with CIPC.
- Remedies and Enforcement.
- Penalties and offences.
- The Companies Tribunal.
- Non-Profit Companies.
About SA Accounting Academy
The SA Accounting Academy is an accredited private SAICA - AT(SA) and ICB qualifications provider. We are committed to providing our students with the highest quality training and support, to ensure that your skills and knowledge are up to date and ready to face the challenges of the modern workplace. Qualifications and courses delivered are designed to ensure that you reach your professional goals and advance your career. With our experienced faculty, staff, and resources, you can be confident that you will receive the highest quality of training.
SAAA is a Level 2 B-BBEE contributor, with 125% procurement recognition. Training spend on certain solutions can be allocated against the Skills Development element of the B-BBEE Scorecard through accredited and nonaccredited training or claimed through SETA grants. In addition, 15% of your Skills Expenditure can be claimed on non-accredited training or courses. In addition, 15% of your Skills Expenditure can now be allocated to non-accredited training or courses.
Course Fees
The course fee is R 4 600.00 and consists of:
- Study material - Online course material
- Online Facilitator support
- Assessments
Payment Methods
Debit / Credit Card or Instant EFT
You can pay directly on our website for an easy, secure, and instant transaction. During promotional periods, customers can take advantage of additional savings. This is the fastest and most efficient option, saving both time and money.
EFT / Bank Deposit
You can make a payment directly into our bank account using your Online Banking App, Online Banking services, or by visiting your local bank branch.
Your Company / Employer
It may be beneficial for your company to invest in training for its staff members. As there are financial and tax advantages for doing so, please speak with your employer or Training / HR manager about the possibility of paying for this training.
Third Party
If you have someone who is willing to pay for your studies, such as a parent or relative, they can either log in and pay on our website or they can pay via any of the payment options above on your behalf.
Payment Options
Option 1: Once off payment
- R 4 600.00
Contact Us
Online chat through our website www.accountingacademy.co.za
WhatsApp: Start chatting (+27635026114)
Phone: 010 593 0466
E-mail: [email protected]