Backlog to user-friendly - How the new companies act transformed commission
Everyone waited patiently for the new Companies Act to come into effect. There was chatter of significant changes, which scared us but also at the same time brought out the curiosity in all company secretaries.
People were scrambling, trying to familiarise themselves with the new Companies Act and the new forms that came with the change.
I do recall the change took everyone by surprise.
I keep thinking, "Why the change. Will this make any difference?"
Indeed, there were many changes in how people transact with CIPC and turnaround times. Especially CIPC turnaround times made a huge difference in the lives of accountants and company secretaries.
Being able to transact online and via email was a breeze. However, the change came with backlogs.
Oh no! The dreaded "BACKLOG".
Eventually, things came into place, which took: time, patience and a lot of training.
Training still did not solve the issue of our understanding of how to complete the new forms.
Thankfully, CIPC released videos on how each form should be completed, and the website had full details on how to transact with CIPC, which makes the website user-friendly.
Email addresses were set up, indicating which email address should be used for each form. How simple is this? Tracking your document was a mission compared to the old CIPRO website, where documents were posted. Now you can go to the CIPC website and track your document submission using a reference number.
CIPC also has a query system for situations where there is a delay in response from CIPC. The turnaround time is ten working days or even sooner, depending on the number of queries the consultants handle. Getting disclosures is simple.
With the new POPI Act, all directors' information is protected. This reduces the risk of fraud. The Bizportal system allows a person to access the company information and view the names of the directors.
In the past, the company's registered address was the accountants/auditors' business address. With the effect of the new Companies Act, companies had to register their business address with CIPC.
In my opinion, CIPC should have more consultants attending to calls from the public.
Sometimes, when you call the call centre, I've experience that I cannot get through to a consultant, and all professionals in the accounting and auditing industry should know how to use the CIPC website.
Leena Ramrutham is a member of our BPO team. Here is a little bit about her time here:
"When I started at Accensis, my position was Company Secretarial Administrator. Mr Naidoo allowed me to learn accounting and work with clients processing their monthly accounting work. Now my title is Accountant, a big step from where I started to where I am, I am thankful for this. I have learned so much."