Business Compliance Regulations covered from A to Z
The Compliance Hub team delivers cost effective compliance solutions across all the critical business compliance areas. With governmental penalties for non-compliance, a serious threat to business, it is essential that all companies meet their compliance obligations or face the full extent of the law.
With specialist focus on Human Resources Policy and Procedures and the Companies Act. We ensure that our clients remain on the right side of compliance legislation. We offer an internal audit service that will ensure that you are not exposed.
Company Registrations and Compliance
Name searches and reservations, Company registrations, CC to Pty conversions, VAT Registrations, Tax compliance and Tax clearance certificates, Payroll, Coida registration, Letters of Good standing and Management accounts.
As per the Companies Act it is the responsibility of every business owner, director and departmental head to comply with the companies act. If you are not then possible penalties can be imposed upon you.
Compliance Hub in association with Lanham Love Attorneys has developed an Audit to ensure that you are up to date with the legislative requirements. We can ensure that your company is on the right side of the law.
Below is a short sample of some of the audit checks:
20.1. Any documents, accounts, books, writing, records or other information that a company is required to keep in terms of this Act or any other public regulation must be kept:
20.1.1. In written form, or other form or manner that allows that information to be converted into written form within a reasonable time and for a period of 7 years or any longer period of time specified in any other applicable public regulation.
20.1.2. If the company has existed for a short time then the company is required to retain records for that shorter time.
20.1.3. If a company must maintain a copy of its MOI, any amendments or alterations thereto, a record of its Directors, copies of all AGM reports for a period of 7 years after the date of such meeting, annual financial statements, accounting records required by this Act for the current Financial Year and for the previous 7 completed Financial Years, notice and minutes of all shareholders meetings, copies of any written communication sent generally by the company.
21.1. The documents cited above must be retained for a period of 7 years or any such shorter period of time where the company has existed for a shorter period of time.
21.2. The register of members and register of Directors of a company, must, during business hours or reasonable periods be opened to inspection by any member free of charge and by any other person upon payment of each inspection of an amount not more than R100, 00. (Section 26: Access to Company Records).
Section 26(6): Penalty Clause:
Section 26(6) sets out that it is an offence for a company to:
22.1. Fail to accommodate any reasonable request for access, or to unreasonable refuse access, to any record that a person has a right to inspect or that a person has a right to inspect or copy in terms of this Section; or
22.2. To otherwise impede, interfere with, or attempt to frustrate the reasonable exercise by person of their rights set out in this Section.