CIPC_Voluntary deregistration of companies and CCs

26 July 2022
Accounting
South African Accounting Academy

In addition to the standard documentary and supporting document requirements for a voluntary deregistration application, the letter requesting the deregistration of the company or close corporation must also contain the following 2 statements:

The reason why the company or close corporation did not file its annual returns in time; and
Request to change the status of the company or close corporation from AR Deregistration to voluntary deregistration.

Due to the additional processing step for such applications, a delay in processing m be experienced from the stated service turnaround times on the CIPC website.

Click here to download the Notice:

http://www.cipc.co.za/za/wp-content/uploads/2022/06/Notice_Voluntary-Deregistrations_v1.0.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 issued by CIPC as the regulator.

Relevance to Your clients:

This CIPC practice note clarifies certain operational issues that must be complied with.
The client has a duty to comply with the Companies Act, as well as relevant notices/enforcements published by the Regulator.

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