CIPC XBRL Taxonomy 2024 Release
The Companies and Intellectual Property Commission (CIPC) has released the 2024 version of the XBRL taxonomy, effective from 30 September 2024.
Key updates
This release incorporates several key updates, including:
Replacement of the IFRS 2023 taxonomy elements with those from IFRS 2024, applicable to Co-ops, GRAP, and IFRS modules.
Updates to existing disclosures, including financial statements, cash flows, and equity changes.
Integration of the IFRS Sustainability Taxonomy 2024 and modifications for enhanced sustainability reporting.
Who is Required to Submit Annual Financial Statements (AFS) via XBRL
In terms of Section 33 of the Companies Act 71 of 2008, and regulations 28, 29, and 30 of the Companies Regulations of 2011, the following entities are required to submit their AFS via XBRL when filing their Annual Returns, effective from 1 July 2018:
All public companies.
Private companies (required to be audited).
State-owned companies.
Non-profit entities.
Close Corporations (required to be audited).
Co-operatives (required to be audited), mandatory from 1 October 2022.
For more information, read the CIPC guideline for Filing of Annual Financial Statements to the CIPC in XBRL.
Read the CIPC XBRL Taxonomy 2024 detailed release notes for a full list of changes and guidance on implementation. official CIPC XBRL documentation.
Find CIPC Customer Notice 65 of 2024 here.
