Overview  

On the 10th of July 2018, we hosted a webinar in conjunction with the CIPC titled "CIPC audits on annual financial statements." During the webinar, participants raised a lot of questions that couldn't be answered in the time allocated. 

Our technical expert, Lettie Janse van Vuuren CA(SA), RA, has compiled a comprehensive list of the questions and is doing a follow-up webinar where she will provide participants with clear and well-explained answers to the pertinent issues.   

Lettie will also cover related topical issues that were not necessarily covered in the first webinar. A hot topic in business circles at the moment is the submission of Financial Accountability Supplements versus Annual Financial Statements to the CIPC. 

Learning objectives 

• By the end of the webinar the participant should understand the following: 
• Mandatory submission of AFS versus FAS to CIPC;
• Applicability of submissions to specific entities;
• 10% of revenue penalty for late submission;
• Obligations of companies to report errant directors; and
• Comprehensive FAQ compilation.

Course content 

• Mandatory submission of AFS versus FAS to CIPC;
• What determines whether a business submits an AFS or an FAS?
• Which documents accompany the AFS and FAS?
• Applicability of submissions to specific entities;
• What happens with dormant companies?
• Annual return due before AFS is approved;
• Other situations.
• 10% of revenue penalty for late submission;
• CIPC's Notice 51 of 2016 and Notice 42 of 2018;
• The effect of penalties on your PI insurance; 
• Obligations of companies to report errant directors; and
• Comprehensive FAQ compilation.

Obtaining your CPD certificate

Attendance of this 2-hour webinar series will accrue 1 CPD hour for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by SAICA, AAT, SAIPA, SAIBA, IAC, CIS and others.

Complete the free online assessment at the end of the event and receive an additional 2 CPD hours.

Who should attend

• Accountants in Practice: CA(SA), PA(SA), BAP(SA), ACCA, CIMA, IAC, AGA(SA), CIS, ICBA. 
• Practicing auditors, RA(SA)
• Company secretaries
• Legal advisors
• Compliance officers

Additional material 

You will receive a summarised slide presentation, detailed course material and reference documents.  You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar.