I could almost say none! But that is a gross over simplification. However, there are some serious misperceptions out there, so let’s take a look at them – Companies have to be audited, CCs don’t. Wrong. A company (and a CC) has to be audited if its Public Interest Score (PIS) is 350 or more. That translates to a turnover of say, R300m and a staff compliment of say, 50 people. Companies have to have their Financial Statements reviewed, CCs don’t. Right, if their PIS is less than 350 (I’m simplifying a bit). But CCs need to have their Annual…
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