Knowledge Centre

Stay out of trouble with SARS, CIPC, and regulators, while you focus on running your business. 

Compliance

1. What You Need to Know

Compliance means meeting all your legal and reporting obligations as a business. 
From registering with CIPC and SARS, to submitting industry-specific reports, every company must stay on top of deadlines. Accountants manage these obligations, ensuring your filings are accurate, on time, and aligned with regulations. 

2. Why It Matters to You

Compliance protects your business from costly setbacks. 
Avoids fines, penalties, and legal risks. 
Builds trust with banks, funders, and regulators. 
Frees up your time to focus on growing the business. 
Keeps your company in good standing with stakeholders. 

3. Frameworks, Standards, or References 

Compliance is anchored in legislation, regulations, and industry rules. 

  • Laws & regulations: Companies Act (CIPC annual returns), Income Tax Act & VAT Act (SARS returns), industry-specific regulators (e.g., NCR, FSCA, DSD). 

  • Standards & frameworks: IFRS for SMEs (reporting requirements), King IV (corporate governance). 

  • References: CIBA practice standards on statutory reporting. 

  • What your accountant will actually do: 

  • Register your company with CIPC and SARS. 

  • Submit annual returns and tax filings. 

  • Prepare compliance reports for sector regulators. 

  • Keep management accounts up to date for lenders.  

4. How to Apply

Steps to stay compliant with your accountant’s support:

Register your business with CIPC and SARS.

Track filing deadlines for annual returns and tax submissions.

Work with your accountant to prepare monthly/annual returns.

Keep proper financial records to support filings.

Submit industry-specific reports as required.  

5. Common Mistakes to Avoid 

Avoid these compliance failures that cost businesses dearly: 

  • Missing deadlines → Set calendar reminders and automate alerts. 

  • Filing inaccurate returns → Double-check with your accountant before submission. 

  • Ignoring industry-specific rules → Know what applies to your sector. 

  • Not keeping records → Maintain audit-ready documentation.