Public interest score calculator
Four inputs and you will know your score, and whether the Companies Act requires an audit, an independent review, or neither. Nothing is stored and no details are required.
Get a quote in 48 hoursGeneral guidance based on the criteria in Regulations 26 and 28. It is not a formal determination, and your memorandum of incorporation, another law or a funding agreement can require assurance regardless of score. More on how we work in South Africa.
Questions about the score
- How is the public interest score calculated?
- Under Regulation 26 of the Companies Act 71 of 2008: one point for every employee on average during the financial year, one point for every R1 million or part thereof in third party liabilities at year end, one point for every R1 million or part thereof of turnover, and one point for every individual holding a direct or indirect beneficial interest in the company securities. It is calculated at each financial year end.
- What score requires an audit?
- A score of 350 or more requires an audit in all cases. Between 100 and 349 an audit is required if the financial statements were compiled internally, and an independent review is permitted if they were independently compiled. Below 100 neither is compelled unless the memorandum of incorporation says otherwise.
- What is the owner-managed exemption?
- Where every shareholder is also a director, the company is generally exempt from both audit and independent review, unless the memorandum of incorporation, another law, or an agreement requires assurance.
- Does this store my numbers?
- No. Everything runs in your browser. Nothing is submitted, stored or sent to us.
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