Companies Act, 2008 (Act No. 71 of 2008)Chapter 2 : Formation, Administration and Dissolution of CompaniesPart C : Transparency, accountability and integrity of companies28. Accounting records |
| (1) | A company must keep accurate and complete accounting records in one of the official languages of the Republic— |
| (a) | as necessary to enable the company to satisfy its obligations in terms of this Act or any other law with respect to the preparation of financial statements; and |
| (b) | including any prescribed accounting records, which must be kept in the prescribed manner and form. |
| (2) | A company’s accounting records must be kept at, or be accessible from, the registered office of the company. |
| (3) | It is an offence for— |
| (a) | a company— |
| (i) | with an intention to deceive or mislead any person— |
| (aa) | to fail to keep accurate or complete accounting records; |
| (bb) | to keep records other than in the prescribed manner and form, if any; or |
| (ii) | to falsify any of its accounting records, or permit any person to do so; or |
| (b) | any person to falsify a company’s accounting records. |
| (4) | For greater certainty, the Commission may issue a compliance notice, as contemplated in section 171, to a company in respect of any failure by the company to comply with the requirements of this section, irrespective whether that failure constitutes an offence in terms of subsection (3). |