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CIPC: Draft Gap Data Models on IFRS 2025 Taxonomy
- 11 June 2025
- CIPC
- South African Accounting Academy
Summary:
The Companies and Intellectual Property Commission (CIPC) hereby notifies the public that the Draft Data Models reflecting updates aligned to the IFRS 2025 Taxonomy, as well as a proposed sustainability extension, is now available for public review and comment on the CIPC website under XBRL Programme page.
Article:
This model has been prepared as part of the data modelling phase and incorporates:
- Updates from IFRS 18, focusing on presentation and disclosure in financial statements.
- A proposed extension addressing sustainability-related disclosures in anticipation of future regulatory alignment.
You can access the Draft Data Models on the below links:
- IFRS Data Model https://www.cipc.co.za/wp-content/uploads/2025/06/CIPC-XBRL-Taxonomy-2025-IFRS-Data-Model-incl.-Sustainability-Disclosures-PUBLIC-DRAFT-2025-07-04.xlsx
- COOP Data Model https://www.cipc.co.za/wp-content/uploads/2025/06/CIPC-XBRL-Taxonomy-2025-COOP-Data-Model-incl.-Sustainability-Disclosures-PUBLIC-DRAFT-2025-07-04.xlsx
- GRAP Data Model https://www.cipc.co.za/wp-content/uploads/2025/06/CIPC-XBRL-Taxonomy-2025-GRAP-Data-Model-incl.-Sustainability-Disclosures-PUBLIC-DRAFT-2025-07-04.xlsx
All stakeholders, service providers, and interested parties are invited to review the draft and submit any comments or feedback by 27 June 2025. Feedback should be sent via email to [email protected] with the subject line: “Feedback – Draft Data Model 2025”.
Click here to download Notice 26 of 2025:
Relevance to Auditors, Independent Reviewers & Accountants:
- The Companies Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- As an auditor, independent reviewer and accountant, you also need to monitor your client’s compliance with the Companies Act and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator, and you should be aware of all publications and notifications issued by the regulator.
- Where you perform these compliance tasks on behalf of your client, you need to ensure that you comply with all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
Relevance to Your Clients:
- An entity (company or close corporation) has a duty to comply with the Companies Act, and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.