Proposed amendments to the Companies Act highlights the importance of Independent Accounting Professionals.

Companies with a PIS score of less than 100 and internally compiled financial statements, and Companies with a PIS score of less than 350 and independently compiled financial statements, are exempt from new onerous reporting transparency requirements as proposed in the Bill.

Independently compiled means compiled by an Independent Accounting Professional. https://saiba.org.za/share/practice-support/financial-reporting

SAIBA members with the designation BAP(SA) are qualified as Independent Accounting Professionals.

https://www.clydeco.com/en/insights/2021/10/south-africa-companies-amendment-bill-2021-potenti