Pension Funds Act, 1956 (Act No 24 of 1956)Board NoticesPrescribed Financial Statements Applicable to the Different Categories of Funds3. Financial statements |
| (1) | A fund must prepare its financial statements in accordance with the Regulatory Reporting Requirements for Retirement Funds as prescribed by Board Notice 14 in Government Gazette 31838 of 4 February 2009. |
| (2) | The format of the financial statements are prescribed per the following categories— |
| (a) | Large Funds are funds with total assets exceeding R50 000 000; |
| (b) | Small Funds are funds with total assets of more than R6 000 000, but not exceeding R50 000 000; |
| (c) | Audit Exempt Funds are funds with total assets less than R6 000 000. |
| (3) | A fund must submit the following in respect of its particular category— |
Large funds
Schedule |
|
A |
Regulatory information |
B |
Statement of responsibility by the Board of Fund |
C |
Statement of responsibility by the principal officer |
D1 |
Report of the independent auditors |
E |
Report of the Board of Fund |
F |
Statement of net assets and funds |
G |
Statement of changes in net assets and funds |
HA |
Notes to the financial statements |
HB |
Report of the valuator |
I1 |
Report of the independent auditors of factual findings to the Registrar of Pension; or |
I3 |
Report of the independent auditors of factual findings to the Registrar of Pension Funds (umbrella funds); or |
I4 |
Report of the independent auditors of factual findings to the Registrar of Pension Funds (Retirement Annuity and Preservation funds) |
IA |
Investment schedule pertaining to annual financial Statements |
IB |
Assets held in compliance with Regulation 28 |
IB1 |
Report of the independent auditors on compliance with regulation 28 to the Registrar of Pension Funds |
Small funds
Schedule |
|
A |
Regulatory information |
B |
Statement of responsibility by the Board of Fund |
C |
Statement of responsibility by the principal officer |
E |
Report of the Board of Fund |
F |
Statement of net assets and funds |
G |
Statement of changes in net assets and funds |
HA |
Notes to the financial statements |
HB |
Report of the valuator |
I2 |
Report of the independent auditors of factual findings to the Registrar of Pension Funds (ordinary funds); or |
I3 |
Report of the independent auditors of factual findings to the Registrar of Pension Funds (umbrella funds); or |
I4 |
Report of the independent auditors of factual findings to the Registrar of Pension Funds (Retirement Annuity and Preservation funds) |
IA |
Investment schedule pertaining to annual financial Statements |
IB |
Assets held in compliance with Regulation 28 |
Audit exempt funds
Schedule |
|
A |
Regulatory information |
B |
Statement of responsibility by the Board of Fund |
C |
Statement of responsibility by the principal officer |
E |
Report of the Board of Fund |
F |
Statement of net assets and funds |
G |
Statement of changes in net assets and funds |
HA |
Notes to the financial statements |
HB |
Report of the valuator |
I5 |
Report of the Board of Fund to the Registrar of Pension Funds in terms of section 15 of the Pension Funds Act |
IA |
Schedule pertaining to annual financial Statements |
IB |
Assets held in compliance with Regulation 28 |