Just a reminder to all entities who are required to submit Annual Financial Statements (AFS) with your annual return:
- You must upload your latest approved audited Annual Financial Statements.
- You have up to 30 days from your annual return due date. Thereafter you will be non-compliant and subject to penalties.
- Who should submit AFS: Private or personal liability companies that are required to be audited by the Companies Act, 2008 or regulation 28. (Or if you elect to be audited)
- The AFS must be uploaded in XBRL format before submitting your annual return.
- At ConsultX we use proven world-class industry-leading software to ensure an accurate submission, on time!
If you aren’t sure – regulation 28 clarifies all categories of companies that are required to be audited. It includes: (and not limited to)
- Public companies
- State owned companies
- Companies holding assets in a fiduciary capacity on behalf of others, of more than R5m at any one time during that financial year
- Any non-profit company if incorporated by the state or an international entity or if incorporated to carry out a state or public function
- Any other company whose Public Interest Score for that financial year is
- 350 or more
- at least 100, if annual financial statements were internally compiled
Read Regulation 28 here.