No one would ever jump off a cliff into the roaring ocean if the motivation for doing so was not securely rooted in a high-value proposition. This just means that you have to know what it is that you are taking the risk for, and it must be worth it. We all take calculated risks to achieve the goals we set for ourselves, but what about the risks you are not aware of. Sharks might be circling, while you are busy worrying about water temperature.
This analogy can be translated directly to the world of business if corporate governance is not properly implemented.
So, what should you know:
- Corporate goverance is as much a part of healthy business as a well-maintained balance sheet.
- Any director and manager of a business that has any decision making power that affects other people inside and/or outside the company has a lawful obligation toward those people
- The companies act has given governing bodies the teeth to act on non-compliance in this regard, and it will hurt your business.
- Good governance involves strategic decision making that can not only take away the risk of being pursued, but can also shift your business into a space where you can find the pearls your are diving for.
- Good goverance also required a lot of administration and legal footwork that 80% of SA business are not geared to handle inhouse.
- We can do the work for you and assist you to get the reward, without the risk.
Allow us to share a very good example of the type of risks we are talking about:
As you may or may not know, Companies and Close Corporations are required to complete Annual Returns on the CIPC website once a year. Obvious yes? What you may not know is that if these Annual Returns are not filed, CIPC will DEREGISTER your entity and they have no obligation to advise you of such deregistration. This could ultimately mean that you run the risk of trading recklessly (trading whilst the entity does not exist).
Take the plunge and contact us, so that we can help with the following:
- Supply of shelf entities (companies and close corporations)
- Formation and amendment of companies and close corporations
- Compliance with New Companies Act of 2008
- Drafting of Memorandum of Incorporation (MOI) that adapts to client needs.
- Maintenance of statutory registers (shares, directors, auditors, etc.)
- Assisting companies with (amongst others):
- Statutory & corporate governance compliance (Company Act & King III)
- Risk management (compliance and corporate governance)
- Compiling of charters and regulations for board and sub committees
- Compiling of house rules for Home Owner Associations
- Election processes (election of directors, committee members etc.)
- Performance of statutory compliance audits on companies
- Externalization of listed entities (legally shifting interests off shore)
- Managing offshore class shares listed on stock exchanges other than RSA
- Formation and management of trusts
- Structuring of staff trusts or any other kind of trust
- Assisting clients with estate planning
- Complete Director Induction Training Program for directors and prescribed officers – in line with 2008 Company Act changes
“Pearls don’t lie on the seashore. If you want one, you must dive for it.” — Chinese proverb
Call Retha on 011 475 5393 or e-mail us: firstname.lastname@example.org