CC Registration and Close Corporation Information

Accounting Officer Requirements

Article by: Hugh Knight
  • The Accounting Officer must be a paid up member of one of the following professional institutes:
    • The Institute of Administration & Commerce of Southern Africa IAC*
    • Auditors registered under the Auditing Profession Act, 2005. CA(SA)
    • The Chartered Institute of Management Accountants. CIMA
    • The Southern African Institute of Chartered Accountants.
    • The Southern African Institute of Chartered Secretaries and Administrators.  CIS
    • The Chartered Association of Certified Accountants. ACCA
    • The Southern African Institute of Business Accountants.
    • South African Institute of Professional Accountants (SAIPA).
    • Chartered Institute of Business Management (MCIBM only) 
*IAC – limited to holders of one of the following IAC diplomas – Accountancy, Cost and Management Accounting, Company Secretaries.
  • Valid and up to date institute membership is the essential requirement – having an accounting degree or diploma is not enough to comply with the Close Corporations Act.
  • When registering a CC, a letter of consent from the accounting officer must be submitted. This letter must include the Institute membership or practice number, which CIPRO will verify.
  • You should confirm the membership with the office of the particular institute.
The essential role of the accounting officer is to sign off the financial statements, confirming that the statements are in conformity with the accounting records of the CC.

There are several distinct stages in getting to the signing off:
1. Bookkeeping - compiling the accounting records from the source documents (the “slips”)
2. Drawing up a trial balance – a list of the final balances in each account
3. Compiling the financial statements – the income statement and balance sheet
4. Verifying that the financial statements conform to the accounting records. This is the point at which you must have an accounting officer.

Items 1, 2 and 3 could be done by anyone, including the accounting officer.
front, you must agree with the accounting officer who will carry out the respective duties. You should clarify in writing who will perform each of the respective duties.

Expect the accounting officer to charge an annual fee between R1 000 and R2 500

The members of the CC have the right to appoint the accounting officer. You do not have to accept the accounting officer appointed by the people who registered the CC. To change accounting officer, you need to complete a form CK2A, which you can download from the CIPRO website,

Ideally, the proposed accounting officer should be someone you know and trust, or   be recommended by someone you know.

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