Company Registrations | Business Guru | Benoni | Boksburg | East Rand

Contact Us

We are open from 8.30 AM to 5.00 PM (Monday to Friday). For more information or questions, please contact us by phone, email or by post.

Phone: 010 235 0802
Cell: 079 8984566
Fax: 086 6527916
Email:

info@thebusinessguru.co.za

Address:
The Business Guru
Cnr of O Reilly Merry & Curtis St
Rynfield
Benoni
1501

COMPANIES AFTER 1 MAY 2011

The new companies act, effective from the 1 May 2011 has turned upside down Company Law as we know it.

The purpose behind the new act is to make companies more accountable to their various stakeholders, including their employees and minority shareholders.

For most Small Companies, that is both Close Corporations and Pty Ltd, the affect is to actually make life easier.

Throughtout the world over the last 20 odd years they have been relaxing the audit for this sector, the ethos being the auditor is reporting on the directors to the shareholders, but for most small companies they are one and the same. What's the point?

The new rules are that for businesses that are not classified as being in the public interest (Complex test but we can advise on that) no longer require an audit.

This will save you time and money.

Any company requiring an audit now under the new act must take note that the Auditor does not perform other duties, including preparing the accounts as this is against the new act.

The Business Guru, being regulated by the largest professional body in the world being the ACCA is not authorised to undertake audits in South Africa at present but we can act as accounting officer and conduct independant reviews (New under the Companies Act). An interesting fact that throughout the world the ACCA does audits and the owner Richard Bater was a registered auditor in the United Kingdom, but rules in South Africa exclude him from this service. But with the new act, for many audits are a thing of the past.

For more information and to check whether or not you need and audit please contact us.

Please look at our page on the MOI as this is also something highly relevant post the new act.

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