CIPC: Status update on file transition project

11 May 2022
Accounting
South African Accounting Academy

Notice 62 of 2021 issued by CIPC of file transition project has reference.

The contract handover project of moving 7.2 million Companies, Close Corporation, Trade Marks, Design, Copyright and Co-operative files to the new storage facility was completed on 26 November 2021.

Files are now being labelled and captured onto the service provider's system to enable sorting and retrieval.

Delays will therefore still be experienced until the end of May 2022.

Click here to download Notice 9 of 2022:

http://www.cipc.co.za/files/5616/4941/5489/File_Transition_project.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, 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 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 issued by CIPC as the regulator.

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