The Companies Act, which came into force in 2011, provides for holding directors personally liable for poor performance and poor public disclosure of information. On accountability and transparency, its Company Regulations issued by the MInister of Trade and Industry (in terms of the Act) specifies the categories of private companies that require an audit. The Company Regulations also prescribe the manner, form and procedures for the conduct of an independent review other than an audit, as well as the professional qualifications of persons who may conduct such reviews.
Industry sectors covered by the instrument
Organizations covered by the instrument
Type of instrument
Mandatory or voluntary
The geographical scope