RFI TITLE: PROVISION OF FINANCIAL STATEMENT TO CIPC IN iXBRL COMPLIANCE

REQUEST FOR INFORMATION (RFI) FOR THE PROVISION OF FINANCIAL STATEMENT TO CIPC IN iXBRL COMPLIANCE

1. PURPOSE
The purpose of RFI is to request information and pricing for the provision of financial statement to CIPC in iXBRL compliance.

2. Background
The legal and strategic mandate for submission of AFSs to the CIPC is prescribed by the Companies Act, No. 71 of 2008, as amended by Companies Act 3 of 2011. Section 30 and Regulation 30 prescribes requirements for Annual Financial Statement submissions and the role of CIPC in this regard. Regulation 30 (5) (a) specifically prescribes the Commission must establish a system to review AFSs with the objective of monitoring compliance with the Act. According to Section 6 (13) (a) (iii) the system to be established by the Commission may use any means of electronic communication, to facilitate the automated filing of any information contemplated by the Act. This includes a determination to use XBRL.

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