An established CC can appear uncomplicated simply because it has operated for many years. But familiarity can hide problems involving ownership, authority, member conduct, financial records, statutory compliance and personal liability.
A practitioner who knows what to look for can identify concerns earlier, have better conversations with clients, recommend appropriate corrective action and reduce unnecessary professional exposure.
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R230,00 VAT incl.
Close corporations may no longer be formed in South Africa, but thousands remain active and continue to form part of accountants’ client portfolios.
Their age and familiarity can create a dangerous assumption: that because a CC has operated for many years, its membership, financial records, statutory filings, internal authority and compliance obligations must be in order.
That assumption can expose both the client and the professional.
Problems that have remained unnoticed for years may suddenly surface when members fall into dispute, ownership changes, a creditor makes a claim, CIPC records are questioned, beneficial ownership information must be filed, or the CC enters into a significant transaction.
For CIBA members, this creates both a professional responsibility and an opportunity to add greater value to clients.
This practical one-hour session, presented by Heynes Kotze, examines the legal, financial and compliance risks that continue to surround existing close corporations, with particular attention to what accountants and Accounting Officers should look for when dealing with CC clients.
The objective is not to turn accountants into lawyers. It is to equip practitioners to recognise problems earlier, understand the boundaries of their professional role, ask better questions, protect their professional position and know when specialist advice is required.
The CC may be old. The risk may not be.
Heynes Kotze
Heynes Kotze is the Head of Legal Services at CIBA and an admitted attorney of the High Court with rights of appearance in the superior courts. With extensive experience in litigation and legal advisory roles, Heynes specialises in guiding professionals through complex regulatory compliance (including FIC requirements) before issues arise. He is known for his creative problem-solving, helping firms turn compliance challenges into practical opportunities for growth.
After attending this session, you should be better equipped to:
1. Close Corporations in 2026
Why existing CCs remain relevant and why longstanding entities should not automatically be assumed to be compliant.
An established CC can appear uncomplicated simply because it has operated for many years. But familiarity can hide problems involving ownership, authority, member conduct, financial records, statutory compliance and personal liability.
A practitioner who knows what to look for can identify concerns earlier, have better conversations with clients, recommend appropriate corrective action and reduce unnecessary professional exposure.
An established CC can appear uncomplicated simply because it has operated for many years. But familiarity can hide problems involving ownership, authority, member conduct, financial records, statutory compliance and personal liability.
A practitioner who knows what to look for can identify concerns earlier, have better conversations with clients, recommend appropriate corrective action and reduce unnecessary professional exposure.
2. Legal Structure, Membership and Governance
Separate legal personality, membership interests, authority, member duties and common governance problems.
3. The Accounting Officer
The Accounting Officer’s role, responsibilities and limitations, including professional risk and matters requiring further enquiry.
4. Accounting Officer, Independent Review or Audit?
The distinction between these engagements and why the applicable reporting and assurance framework matters.
5. Personal Liability and Professional Risk
When members may face personal exposure and the warning signs practitioners should recognise.
6. Financial and Statutory Compliance
Accounting records, annual returns, beneficial ownership, financial information and relevant CIPC compliance considerations.
7. Danger Signs and Common Mistakes
Missing records, ownership inconsistencies, authority concerns and compliance failures that should trigger further investigation.
8. From Compliance to Client Value
Corrective work, compliance reviews, accounting clean-ups and legitimate advisory opportunities, while recognising when specialist advice is required.
The following event is awarded 2 CPD units in Other.
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