According to the Companies Act, companies as well as closed corporations must prepare a set of annual financial statements within six months of their financial year-end. For example, if your financial year-end is February, your annual financial statements must be prepared by 31 August each year.

Depending on the provisions of the memorandum of incorporation (MOI), and/or public interest score (PIS) annual financial statements are either prepared by an external accountant or may require independently reviewed or audited annual financial statements.

For more information, please contact us today!