CIPIC Implements New Procedure For Submitting Corporate Returns in South Africa

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South African Institute of Professional Accountants

Africa Business Radio

25 episodes

3 months ago

The South African Institute of Professional Accountants (SAIPA) is one of the leading accountancy institutes, representing and supporting its members to fulfill the increasing demands of businesses in South Africa’s growing economy by equipping the Professional Accountant (SA) with the latest knowledge, techniques, and accreditation required to render key services.
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CIPIC Implements New Procedure For Submitting Corporate Returns in South Africa

South African Institute of Professional Accountants

11 minutes

7 years ago

CIPIC Implements New Procedure For Submitting Corporate Returns in South Africa

The CIPC has decided to change the manner in which annual returns are submitted by practitioners in order to ensure uniformity and standardization. The multitude of various submissions is to minimize with the introduction of the concept of reporting via Extensible Business Reporting Language (XBRL). From what has been communicated, XBRL is a web-based computer language that is intended for business reporting and allows account numbers to be tagged within XBRL format, using predefined descriptions. This standardized tagging improves analysis of financial information and leads to more comparable and reliable information. SAIPA's Mrs. Faith Ngwenya, who is the Executive for Technical and Standards unpacks this further.

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