Not all companies registered in South Africa need to appoint an auditor. According to Section 90 of The Companies Act, 71 of 2008, only a Public Company or a State-owned company is required to appoint an auditor. For these two classes of companies the appointment of an auditor is mandatory and will always apply. However, in some instance you would need to appoint an auditor even if you are not a Public Company.
There are two types of loan accounts that directors can come across in business. As plain and simple as a debit and a credit loan account.
While we are all getting a handle on working around load shedding schedules, filling up the generators and navigating traffic, it is a good time to also reflect on the impact this has on your dealings with SARS.
You can operate your business using a: - Sole Proprietorship (that is trading in your private capacity) - Partnership (that is in your private capacity with other individuals in the private capacity) - Business Trust - Private Company ((Pty) Ltd – Company with limited shares holders) - Public Company ((Pty) Ltd – Company with unlimited shares holders) - Personal Liability Company (Inc.) - External Companies (Branches of foreign companies)
Marna Scheepers completed her studies at the School of Accounting Science at the University of Pretoria in 2001. She completed her articles with PriceWaterhouseCoopers in 2005 after a secondment to the USA to obtain additional experience.