Cipc Compliance Checklist

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The Companies and Intellectual Property Commission (“CIPC”) published a
proposed Compliance Checklist during August of 2019. Entities were afforded an
opportunity to comment on the proposed Compliance Checklist and to complete the
checklist
voluntarily from 1 September 2019 to 31 December 2019.
Since 1 January 2020 it has become mandatory in terms of Notice 52 of 2019 to
complete the Compliance Checklist before submitting annual returns. However, a
number of stakeholders across a broad spectrum of professional bodies, small
business associations, and individual professionals have engaged with the CIPC
since 2019 to obtain more clarity on what is required. As a result of ongoing
discussions and consultations between all these stakeholders, the CIPC
indicated a possible change in the extent of the compliance requirements. One
option on the table was to make the checklist only applicable to companies with
a particular public interest risk measured by its Public Interest score or
reporting status as either subject to an audit or independent review. DF Consultants
 support the proposal to limit the
checklist to companies that pose a significant risk to the economy due to their
size, complex transactions that impact pension funds and the broader investment
sector. I. wish to inform my followers and their clients that the possible
changes are still in discussion phase with the CIPC. Expect an amended notice
soon. DF Consultants urge Companies Directors to comply  until more clarity is received. It is
unfortunately a timing issue.