Results 1 to 3 of 3

Thread: Directors Report for SMEs

  1. #1
    New Member
    Join Date
    Jan 2015
    Location
    Gauteng
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Directors Report for SMEs

    Hi
    Is there a new format Directors Report for an SME? I cant find any reference to new requirements other than in section 30 of the Companies Act, which is limited. And there's no guidance in the IFRS for SMEs standard.
    Thanks!

  2. #2
    Gold Member
    Join Date
    Mar 2012
    Location
    Vanderbijlpark
    Posts
    886
    Thanks
    83
    Thanked 381 Times in 298 Posts
    Hi Ian.
    IFRS actually does not require a directors report, which is why you can't find anything. However as you point out, Sec.30 requires it and general consensus is that it forms part of the reviewed / audited AFS.

    I use a checklist that covers Sec.30, and a little bit more:
    1. Have all matters material for an appreciation of affairs of the company been dealt with?
    2. Is the report in narrative form?
    3. Has a general review of the state of affairs and financial position been given?
    4. Have all material fact or circumstance that occurred between the year-end and the date of the report been disclosed?
    5. Unless stated elsewhere, have the following been disclosed:
    5.a. Nature of business of company and any major change?
    5.b. Details of class and number of shares, convertible instruments and debentures issued, the consideration received and purposes and circumstances of issue?
    5.c. Details of shares, convertible instruments or debentures issued during the year to directors or their immediate family?
    5.d. Any change in the nature or the policy relating to the use of fixed assets in the company?
    5.e. The amount of any dividends paid, declared or proposed for each class of shares?
    5.f. Management of the company or subsidiary by a third party or a company in which a director has an interest and the details of such interest?
    5.g. The names of the directors and any changes during the year?
    5.h. The holding company and ultimate holding company (if any) and country of incorporation if not South Africa?
    6. The estimated proportion of net income (loss) attributable to the various classes of business?

  3. Thank given for this post:

    Dave A (17-Jan-15), Vanash Naick (17-Jan-15)

  4. #3
    New Member
    Join Date
    Jan 2015
    Location
    Gauteng
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Thanks Clive, thats really helpful!

Similar Threads

  1. Replies: 3
    Last Post: 30-May-12, 11:46 AM
  2. [Question] Pastel Tax Box Report & Vat Detail report giving different figures!
    By Cin8 in forum Accounting Forum
    Replies: 3
    Last Post: 22-May-12, 03:57 PM
  3. [Article] Valuation of SMEs
    By Vincent in forum Business Finance Forum
    Replies: 1
    Last Post: 19-Sep-08, 10:57 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •