If a Close Corporation does not need to be audited, do we need to submit a CoR30.2?

Submission requirements depend on your Public Interest (PI) score and company regulations. SAAA's technical resource centre provides comprehensive documentation on independent reviews and CoR30.2 filing frameworks.

Is there a contradiction between the timeframe of submission of voluntary audited annual financial statements for a close corporation?

Section 58(1) of the Close Corporations Act outlines specific parameters regarding whether financial statements must be completed within 6 or 9 months. SAAA provides expert legal compliance resources to clarify these close corporation deadlines.

OHS: Victimization of workers at the workplace in relation to occupational health and safety

10 November 2021
South African Accounting Academy

The Occupational Health and Safety (OHS) Directions, a comprehensive document on how to prevent infection and spread of COVID-19 must be adhered to by employers, but OHS inspectors have found that compliance is below 60%, and that implies that OHS inspectors will continue to monitor and possibly issue compliance notices in future.

The responsibility to comply rests on the shoulders of the employer first to ensure that there is every effort made to comply and to ensure compliance by everyone else in his/her employ.

This publication discusses:

General duties of employers and self-employed persons to persons other than their employees
Duty to inform
General duties of employees at work
Victimization is forbidden

Click here to download the Full article:

http://www.labour.gov.za/DocumentCenter/Publications/Occupational%20Health%20and%20Safety/Victimization%20of%20workers%20at%20the%20workplace%20in%20relation%20to%20occupational%20health%20and%20safety.pdf

How does this affect you and your client?

Relevance to Auditors, Independent Reviewers & Accountants:

Occupational Health & Safety 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 employer, you also need to comply with OHS legislation in your workplace.

Relevance to Your clients:

An employer has a duty to provide and maintain, a working environment that is safe and without risk to the health of his employees.

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