The South African Companies and Intellectual Property Commission does not take non-compliance lightly. In a recent move, the CIPC’s power to impose administrative fines on those entities that ignore compliance notices was confirmed by the SA High Court. With a strong mandate to engage in matters relating to non-compliance, the CIPC strives to ensure that high standards […]
South Africa is just a few weeks away from starting to cut over to Inline XBRL filing for its private and public companies. In a new video explaining the background and vision for the project, as well as the details of the upcoming changes, the CIPC summarises what’s happening in that country. Well worth the 5 […]
Did you know that South Africa was recently ranked first out of 115 countries for the transparency of its national budgeting process? And did you know that South Africa has been within the top 3 on this Open Index since 2010? Expanding its focus on transparency, South Africa is now preparing for its next big […]
South Africa’s CIPC has mandated the use of Inline XBRL-based reporting for all qualifying South African entities from 1 July this year. The program aims, over time, to reduce the administrative burden on businesses as they report financial information for regulatory compliance and at the same time to further improve transparency for investors. Ahead of […]
The Companies and Intellectual Property Commission of South Africa (CIPC) is the central government agency responsible for both the registration and regulation of companies in the country. Loyal readers may recall from our previous newsletters that since 2016 the CIPC has been undertaking a programme to develop its own XBRL Reporting Platform, so as to […]
The Companies and Intellectual Property Commission (CIPC) in South Africa will, as expected, mandate the use of Inline XBRL-based reporting for all qualifying entities from 1 July 2018. The CIPC aims to ensure that South African companies can comply with their reporting obligations while at the same time reducing the burden that these requirements create. Embedding […]
The South African regulator, the CIPC, continues to make progress on its XBRL programme. Having published a taxonomy in 2016, the project team has now run a road show in a number of cities, as well as via webinars, and has run a seminar for the top 100 companies listed on the Johannesburg Stock Exchange on […]
Guest Post from Hennie Viljoen, XBRL Project Manager at the CIPC At present the Companies and Intellectual Property Commission of South Africa (CIPC) receives all Annual Financial Statements (AFSs) in PDF format, which is obviously an unstructured format. This means analysis of AFS documents has to be done one-by-one by a human analyst. Humans have to […]
Business Regulator aims to improve efficiency, effectiveness and quality of financial reporting, and pave the way for other regulators in South Africa to adopt XBRL.
Read a series of articles from South Africa’s Business Day Live on the state of Integrated Reporting in that country, including XBRL, the use of which Tiani Annandale, senior consultant at Cortell Corporate Performance Management, sees as essential for any multi-national in South Africa. Read the Articles. http://www.istockphoto.com/photo/two-businessmen-shaking-hands-with-flag-of-south-africa-38225294?st=bf8fcdf
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