Just when you think everything at work is under control, those bad dreams begin to permeate again. In a word- CIPC Regulatory Compliance- is full of rules and regulations of dotting the I’s and crossing the T’s, not forgetting various compliance upgrades including the adoption of structured data; right?
Be it a company that features on the Fortune 500 list or one that is run by just one individual, if you need to comply with regulatory compliance, this is one area you definitely don’t want to get wrong.
Penalties for non-compliance are steep- it can be damaging to the company’s bank accounts and/or its reputation. Take for example the directive passed by the CIPC in South Africa known as the AR Hard Stop. This mandate prevents the submission of the Annual Return unless either a valid set of Annual Financial Statements (AFS) or Financial Accountability Supplements (FAS) is submitted. In South Africa, submitting the right documents on time is very important to all qualifying entities because as per the CIPC notice 52, not abiding by this rule may cost companies up to 10% of the company turnover.
So how do you go about getting rid of these nightmares? Partnering with an XBRL solution provider is the first step.
IRIS CARBON® for CIPC Regulatory Compliance Solutions
We understand the nuances and problems the CFOs office and compliance team face when it comes to compliance reporting. Our solution is built with love and caretaking into account everything that you really need.
- Smooth Collaboration across teams: Do your financial reports involve collaboration across various teams and stakeholders? Our platform sets a new standard in cloud collaboration and performance where multiple teams can work on the same platform without worrying about losing track and accountability.
- Advanced AI/ML tagging: With our 14+ years of experience in XBRL and strong technology background, we have introduced AI/ML for tagging so that you don’t have to be an XBRL expert to tag your documents. If you already have too much on your plate and want our experts to handle CIPC XBRL tagging for you, we are more than happy to assist you.
- Smart Editing and Excel Linking: Update your text and numbers with ease. Link your spreadsheet to your document, make number updates in the spreadsheet and it automatically updates numbers in all linked places. Updates flow through all output files seamlessly, iXBRL, PDF, and Word files as well.
- Exceptional Quality: IRIS CARBON® boasts of being evaluated by multiple independent evaluators and ranking #1 for 100% error-free filing. When you choose IRIS CARBON®, you are trusted with a product that’s tried, tested, and trusted globally.
- Flexibility: IRIS CARBON®offers its user’s utmost flexibility. You may license the platform and use it in-house or rely on our experts for CIPC XBRL tagging. Either way, we equip you to make sure you are always compliant with the regulatory requirements. Your Compliance is Our Compliance.
- Product support and Extensive Customer Service: We offer a flat annual fee including unlimited support on your filings. This is irrespective of the number of pages in filing and the extent of support.
Turn the compliance headache into a rewarding business opportunity
Are you an accounting, legal, or company secretarial firm and want to leverage the upcoming/ongoing (CIPC/SEC/ESEF) mandate? A partnership with IRIS CARBON® will provide your company with a competitive edge in the market. We commit to providing end-to-end support for you to seamlessly offer a premium, cloud-based solution which will carry your branding and is iXBRL ready, for your clients.
Finding the sweet spot
One must also pay close attention to ongoing and prospective changes in the CIPC regulatory compliance space to make sure they are in full compliance with the respective mandate. That’s where we can help, bringing a wealth of global regulatory experience. Henceforth, if tackling countless compliance problems sounds like a weighty challenge for your business, make that process a lot easier by partnering with IRIS CARBON®.