6 Steps to mitigate compliance risks for Non-Profit Organizations in South Africa
Non-profit organizations (NPOs) in South Africa play a crucial role in addressing social issues and supporting vulnerable communities. However, like any other sector, NPOs face various compliance risks that can undermine their effectiveness and sustainability. Managing these risks is essential to maintain public trust, secure funding, and ensure that the organization operates within the legal […]
Understanding Public Interest Score: Key Insights and Compliance Requirements
In the complex landscape of corporate governance, understanding the Public Interest Score (PIS) is crucial for any company operating within South Africa. This score determines a company’s compliance obligations and influences how it manages its regulatory responsibilities. In this article, we will break down what a Public Interest Score is, how it is calculated, and […]
Balancing Privacy and Transparency: The Debate over Trust Ownership in the Age of AML
Trusts are legal setups. They allow someone, the settlor, to transfer assets to another person, the trustee. The trustee manages the assets for beneficiaries. These legal arrangements provide flexibility, confidentiality, and control for estate planning. They also offer tax advantages. Yet, trusts pose challenges for anti-money laundering (AML) and counter-terrorism financing (CTF) efforts. They can […]
Essential Insights: Director’s Duties in South Africa – 5 Critical Things You Must Know
Key Takeaways: Understand Your Role: Grasp the full scope of a director’s responsibilities. Act in Good Faith: Always prioritise the company’s best interests. Stay Informed: Keep up-to-date with laws and regulations. Avoid Conflicts: Disclose any potential conflicts of interest. Embrace Transparency: Maintain clear and accurate company records. The Foundation of Directorship Being a director in […]
Cybercrime and the Role of Directors
Key Takeaways What: Cybercrime is any illegal activity that involves a computer, a digital device, or a computer network. It can cause financial losses, reputational damage, legal liability, and operational disruption for businesses and their directors. Why: Cybercrime is a growing threat in South Africa, with an estimated cost of R2.2 billion in 2020. Directors […]
Understanding Personal Liability Companies in South Africa
Key Takeaways What: A personal liability company (Inc.) is a business where directors are jointly liable with the company for debts and liabilities. Why: Offers credibility, limited liability for shareholders, and perpetual succession. How: Register with CIPC, comply with legal requirements, and maintain proper records. Who: Ideal for professionals like lawyers, doctors, and accountants. Where: […]
Ensuring CIPC Compliance: A Comprehensive Guide by Intersect Connect
In the dynamic landscape of business, adherence to regulatory standards is paramount. At Intersect Connect, we understand the significance of compliance, and today, we delve into the intricacies of CIPC compliance. Our goal is to provide you with a comprehensive guide that not only demystifies the complexities but also empowers your business to navigate the […]
Registering a Private Company in South Africa
Key Takeaways Registering a private company in South Africa has many benefits, such as limited liability, ease of transfer of ownership, and tax advantages. The registration process involves choosing a business structure, choosing a company name, registering with CIPC, registering with SARS, opening a bank account, complying with other regulations, implementing good corporate governance, and […]
Navigating Compliance Challenges: A Deep Dive into South African Business
Introduction Running a successful business in South Africa, like anywhere else in the world, comes with its own set of challenges. Among these challenges, compliance-related issues take center stage. South African businesses operate in a dynamic environment marked by regulatory complexities, shifting market dynamics, and the need for adherence to various rules and standards. In […]
Simplifying Company Secretarial Compliance in South Africa: A Comprehensive Guide
In South Africa, ensuring company secretarial compliance is vital for businesses to operate legally and efficiently. However, many companies find it challenging to navigate the complex web of regulations and requirements imposed by the Companies Act. This blog post aims to provide a comprehensive guide on how companies can ease their secretarial compliance burdens. By […]