Consulting insights

Section 33(1) of the Companies Act 71 of 2008 (the Companies Act) states that every company must file an annual return in the prescribed form, with the prescribed fee, and within the prescribed period after the anniversary of the date of its incorporation.

All employees are entitled to sick leave. However, if this is not managed carefully to identify whether employees are taking advantage, companies can suffer tremendously due to abuse thereof.

It is becoming more apparent that many foreign owned companies are keeping their company statutory records as well as their accounting records overseas, and they are therefore not accessible within the Republic of South Africa, as required by Section 25 of the Companies Act No 71 of 2008. Section 24(1) of the Act states that records must be kept:

In order for organisations to function efficiently and effectively they constantly have to come up with innovative change strategies so as to adapt to the globalised world of work. Change and the implementation thereof contributes greatly in giving organisations a competitive edge. Change is truly an inevitable, dynamic, challenging and continuous process.

The risk of fraud in organisations has been the topic of several articles on this and other websites (read, for example Cybersecurity takes centre stage, Fraud on deceased estates and

Many businesses do not consider compliance as part of their core function and, quite often, this item can be overlooked when so much energy is spent in order to make sure that the bottom line of the business is maintained.

The Consumer Protection Act makes provision for a Consumer Goods and Services Ombudsman to deal with complaints by consumers. In March 2013 this body was formed and a compulsory code of conduct was signed by the Minister.

Who to Employ? The question of who to employ in order to achieve the business’s goals is absolutely fundamental. Who a business employs will influence the business’s structure, procedures and profit.

What is the role and responsibly of a trustee?

Section 30(3)(c) of the Companies Act, No 71 of 2008 requires every company to prepare annual financial statements and these annual financial statements must be approved by the board of directors.  This is often evidenced by the signatures of two directors (or one director, if that is the case) who have been authorised to do so by the board of directors, on the “Di