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New E-Services Registration – Online for Co-operatives in South Africa

In its efforts to ease the process and reduce the filing burden of South African companies, the CIPC has introduced a new e-registration service for co-operatives. Earlier, the new application of co-operatives was lodged by a third party on behalf of the co-operative wherein the following documents were required to be submitted physically to the […]

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iXBRL Submission with CIPC Made Easy!

iXBRL Challenges Continue Even though it has been over 2 years since the implementation of iXBRL in South Africa, companies are still experiencing challenges related to the preparation, tagging, and conversion of their iXBRL filings. Moreover, the Covid-19 pandemic has made way for new reporting requirements to be complied with by businesses established in South […]

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Understanding the Role and Significance of iXBRL Filing with the CIPC.

It’s been over two years since iXBRL was mandated in South Africa. However, some companies still have their reservations about iXBRL and see it only as an added compliance burden. What these businesses fail to comprehend is that iXBRL is not a mere reporting tool; it’s much more than that. By standardizing the entire reporting […]

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CIPC Announces Re-Commencement of Compliance Obligations for Companies and Close Corporations

CIPC continuously strives to assist and ensure that companies and close corporations based in South Africa operate with ease. Be it by extending deadlines or providing relaxations in AFS filings, CIPC has always acknowledged the impact of Covid-19 and the nationwide lockdown on companies and close corporations. However, with the nation bouncing back to normalcy, […]

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How Outsourcing iXBRL Conversion is a Better Option in this Post Covid-19 Situation ?

Are you looking to hire an in-house iXBRL team for filing returns with CIPC? Have you taken into account the recruitment costs, training expenses, costs of tech support systems, and other overhead charges that you’ll have to incur? The mandatory iXBRL format filing of financial and accounting reports attuned to International Financial Reporting Standards (IFRS) […]

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Understand the Functioning of the CIPC’s Company Returns

Filing of Annual Financial Statements (AFSs) with the CIPC: What is it all about? The CIPC has laid down stringent requirements regarding accountability and transparency of financial information being submitted through which companies are impacted in different ways. The CIPC encourages enhanced standards of corporate governance wherein the companies are required to uphold the reporting […]

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Do you Comply with the CIPC’s Compliance Checklist?

Are you securing the iXBRL checklist for your next filing with the CIPC? If so, it’s a great idea considering the increasing number of changes made to the filing requirements due to the pandemic. Stating the Purpose of this Compliance Checklist ● Ensures all the mandatory requirements laid by the CIPC are met. ● Acts […]

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Understanding GRAP and How Does it Affect South African State-owned Companies?

Understanding GRAP Generally Recognized Accounting Practice, also known as GRAP, is a set of fundamental concepts that serve as accounting process guidelines for South African-based companies. These guidelines laid down by the Accounting Standards Board (ASB) ensure that the public sector agencies record their financial activities accurately and consistently. GRAP and PFMA The Public Finance […]

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Filing AFS in PDF or iXBRL during Voluntary phase for State-Owned Companies.

Resolving iXBRL tagging errors before final submission still remains a major concern for businesses in South Africa, especially for state-owned companies, as it’s still in the voluntary phase for them. However, it’s better than submitting inaccurate data, right? And since the iXBRL filing is being mandated for state-owned companies, w.e.f. October 2021 as per the […]

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New Update on the CIPC’s eService Portal

The CIPC continually strives to improve the functionality and user experience for its users. In its endeavour to do so, the CIPC has introduced a new functionality wherein users can now register co-operatives electronically. What’s more, is that members of the co-operative may request copies of financial records or extract records after making a payment […]

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