Proatia Manual

[Taxempt]

Just received this email and thought I would share it with you.

As every single company in South Africa must have such a manual by 31 December this year, I thought that I’d share this information with you.

Who must have a Proatia Manual?

1. A sole practitioner;
2. A partnership;
3. Private companies and close corporations.

So, if you run a business you need a Proatia Manual!

4 Things you must put in your manual

1. All the company’s details: Postal address; telephone and fax numbers; and website address;
2. All available records as required by legislations, e.g. the Companies Act requires a Fixed Asset Register.
3. Request procedures, i.e. how a person must go about requesting information on your company; and
4. Fees involved around the request, copies, postage, etc.

Who can compile a Proatia Manual?

Anyone can compile a Proatia Manual – you don’t have to outsource this to your accountant or auditor - but the information officer must sign off on it and remain responsible for maintenance, updates and dealing with requests.

Your information officer must sign off your manual

A great source of confusion is about the information officer and who can be the information officer:
• If you run a sole proprietorship, you (or anyone you appoint) will be the information officer.

Example

Joe Soap runs his own graphic design business from home and he operates as a sole proprietor. He will be the information officer for his business or he can appoint his wife, Mary Soap, as the information officer.
• If you’re part of a partnership, you, your partner or anyone you appoint can be the information officer.

Example

Harry and Mark are partners in a law firm. The firm is run as a partnership. Either Harry or Mark can be the information officer for the firm. Alternatively, they can appoint a friend of theirs to be the information officer.
• If you’re the CEO or managing director of a company, you (or someone you appoint) must be the information officer.

Example

Mary Stone runs a textile factory – Mary’s Textiles (Pty) Ltd. Because she’s extremely busy, she doesn’t have time to be the company’s information officer. Mary appoints her company’s financial director – Amy – to be the information officer for the company.

What’s going to happen to you if you don’t have a Proatia Manual by 31 December?

Very simple: The information officer could find himself behind bars for the next two years.


I would appreciate it if you shared your thoughts on this.

EDIT: Proatia template document attached below: