CIPC Public Alert: Public Alert: Beware of Scammers posing as CIPC Officials

CIPC Public Alert: Public Alert: Beware of Scammers posing as CIPC Officials

• 03 October 2024
• CIPC
• South African Accounting Academy

Summary:

The Companies and Intellectual Property Commission (CIPC) has published an important notice to alert the public to be aware of scammers posing as CIPC officials.

Article:

They confirmed the following:

• CIPC will never call its customers requesting them to download the CIPC app, to upload details, to conclude customer transactions, ask for banking details, or ask for your one-time pin.
• Neither will the CIPC block the customer code for any of the reasons listed above.

Click here to download the Digital Poster:

https://www.cipc.co.za/wp-content/uploads/2024/09/CIPC-digital-poster-NO3.pdf

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 issued by CIPC as 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 and that you are aware of the latest media statements issued by CIPC as the regulator.
• Company Secretarial staff play a critical role in bridging the gap between entities and CIPC. As legislation, regulations and tax law are continuously changing and evolving, it is of utmost importance for companies and company secretarial practitioners to keep abreast of such changes in so that companies continue to meet their compliance obligations.

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 and to be aware of the latest media statements issued by CIPC as the regulator.
• It is in the public’s best interest to take heed of alerts issued to warn them against scams.

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