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News & Press: LAW AND REGULATION

CIPC News

27 March 2014   (0 Comments)
Posted by: Karen de Villiers

SAIBA is part of the CIPC Stakeholder Meetings. A meeting to discuss practitioner issues was held in March and we provide a short summary of that meeting below.

 

Barcoded MOI's requested by banks

There was an issue with the banks and the new standard MOI's without barcodes. The bank's did not want to accept these MOI's. CIPC is in process to communicate with banks where you would be able to indicate, on your company registration document, that the Standard MOI is applicable, and you would than not need the barcoded MOI.

 

Self help system

The Self Help Centre in Sunnyside, is the first of many that will be opened country wide. It is however only for public use, and third parties, like accountants, will not be able to use the system.

It will work on fingerprint access, and once you have been registered on the system, directors will be able to effect changes by logging in with their fingerprints. The following functions will be availble:

  • New company registrations
  • Annual returns
  • Directors amendments
  • Address change
  • Financial year end change
  • Disclosures

 

Error on business main activity

There was an issue where some pre-existing companies' main business activities were erroneously changed to manufacturing. If this occurred, just mail the querie to the following maid address to be corrected: lsteenkamp@cipc.co.za 

 

Waiver of cost of Name change from a generated number

Where a company opted for a registration number as a name, the first name change would not be charged.

 

MOI Amendments

MOI amendments should not take more than 20 working days from lodgement. 

 

Email lodgements

All email lodgements should get an automated response. Lodgements should not duplicate.

 

Customer information

Customers need to keep profiles up to date. With e-mail lodgements, communication could go missing if information at CIPC is not up to date.

 

Liquidations

Liquidation confirmation letter is proof that liquidation has been done. Documentation will be kept by Master or custodian. CM 26/ CoR 40.1 will not be issued anymore. The Master can request it directly from CIPC. Notice was issued in November. 

 

Incorrect information given by Call Centre Staff

Please keep details of call centre staff if you communicate with them. If wrong information was given, CIPC would like to be informed so that adequate training can then be given to the respective staff member.

 

Final deregistration of companies

Final deregistration could not be done the last 4 months, but will start again at the end of March. Deregistrations will then be done on a weekly basis. Companies with outstanding annual returns older than January 2013 will be deregistered. Companies will be deregistered with 2 years of outstanding annual returns.

 

SARS and Annual returns

CIPC considering integrating Annual Return submission with IT14 Submissions

 

Errors on forms

CIPC are aware of  typing errors, staff training and review is being implemented.

 

Accountant resigning

Currently, once an accountant has resigned, there is no document issued to confirm resignation. CIPC is working on a document that could be issued on resignation, to keep accountant from being liable after resignation. Also, CC's without accounting officers will be flagged and contacted. But this is not yet working, and needs to be followed up with CIPC at next meeting.

 

Error on COR39

On some accounts an error has occurred when doing an electronic CoR 39. If this happens a manual CoR 39 must be done. In such a case those mannual submissions will be priority as electronic submissions will not be possible with the error. CIPC is working on this.

 

Resolving queries

If a lodgement was returned due to a query, the entire pack must be mailed to the stated mail address in the mail. Do not reply to the mail, as it will just go back in the que. The ommited documents or information must be added to the pack, and the mail must then be sent to the mail address given.

 

Changing from auditor to reviewer

Auditors need to remove themselves by using CoR 44. Reviewers do not need a CoR form to be appointed. 

In the past if an Auditor resigned he had to be replaced. They are working on the function that will allow a resignation as auditor without having to replace the auditor.

 

Voluntary audits

CIPC considering if this appointed will also have to be done using a CoR form. 

 

Disqualified accountants still in practice

CIPC needs an updated list from accounting and auditing bodies to ensure that disqualified accountants and auditors cannot be appointed. This is currently happening.

 

System problems

All system problems can be mailed to: Ronelf@cipc.co.za

 


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