Accounting Weekly | CIBA’s Post

View organization page for Accounting Weekly | CIBA, graphic

8,318 followers

Independent reviewers and Dividends: When to submit a Reportable Irregularity An independent reviewer is obligated to report a reportable irregularity to the CIPC if there's an act or omission by management that: 👉Unlawfully causes material financial loss to the company, or a member, shareholder, creditor or investor of the company, 👉Is fraudulent or amounts to theft, or 👉Leads to trading under insolvent circumstances (specifically commercial insolvency where the company cannot meet its debts). If a company declares a dividend without conducting the required solvency and liquidity test, and this results in the company either being insolvent or becoming insolvent, it constitutes a reportable irregularity. Accounting Weekly | CIBA CIBA - Chartered Business Accountants #accountants #review #dividends https://lnkd.in/e54M-fXz

Dividends, Independent Review, and Commercial Insolvency: Essential Guide for Accountants — Accounting Weekly

Dividends, Independent Review, and Commercial Insolvency: Essential Guide for Accountants — Accounting Weekly

accountingweekly.com

To view or add a comment, sign in

Explore topics