#CIPC Mandate

[garymdm]

Demystifying ESG: South Africa's Growing Focus on Sustainability Reporting

The other day I saw someone ask the question, “Why are companies wasting so much money on ESG consultants?” This person clearly did not understand the complexity of the impending CIPC mandated requirement for public and state-owned companies to report on their environmental impact. Understanding ESG: Environmental: This aspect focuses on a company’s impact on the environment. It considers…

[its-thea-blog1]

CIPC iXBRL Mandate: Get Started with IRIS CARBON® Looking for an advantageous partnership opportunity? Look no further; with no investment, here’s a partnership you can leverage and benefit from.

While these were just some basic details about complying with the CIPC iXBRL mandate, should you have any queries about the CIPC mandate or how to file with CIPC, please reach out to us at info@iriscarbon.com or visit our website -https://iriscarbon.com/za/

[itseladworld-blog]

The CIPC was the first regulator to have realised the importance of global standard for financial reporting. Not only has the CIPC implemented an iXBRL mandate, but it has also taken several steps Lets find out the indepth

Also know interesting fact about AFS Conversion Services in south africa.

[captainitsjohn-blog]

How to ease the process of converting your AFS to ixbrl

2019 has seen the CIPC roll out the second phase of the iXBRL mandate with the updated IFRS taxonomy. The objective of the cipc ixbrl format mandate is to accomplish the goal of gathering accurate financial data and to instill transparency through standardized financial reporting. AFS is a comprehensive document providing crucial information on the financial status of entities. The process of converting AFS to iXBRL should thus, be well understood. The ease and success of converting AFS to iXBRL completely depends on how well you understand the iXBRL reporting guidelines.

There are various aspects of the AFS to iXBRL conversion process that you need to acquaint yourself with. These include understanding the mandate itself, keeping yourself abreast of the updates in the CIPC taxonomy, understanding the scope of tagging and knowing the different tagging approaches (On-document or template tagging). The overall process of learning and preparing your AFS to iXBRL might prove daunting. All of this especially true if your organization has decided to take the entire process in-house. In case you’re outsourcing the AFS to iXBRL conversion to a solution/service provider, then it is imperative that you at least understand the basics of all the afore-mentioned aspects, so that you can verify the work done by the service provider.

The process of conversion of AFS to iXBRL South Africa can be made easy if planned well in advance and in detail.. Having a strategy to prepare your iXBRL reports will alllow you to file your reports with the CIPC without any hassles.

Plan for a timely Submission

To ensure that your iXBRL report gets submitted without a glitch, you will need to put in prior efforts to plan the implementation of the CIPC directives. The first thing you need to do is to find out if your entity is eligible to file the AFS in iXBRL as per the CIPC mandate. The CIPC has issued a set of guideline stating that only the entities that meet a certain Public Interest (PI) score are required to file their AFS in IXBRL. Find out your eligibility through our Public Interest (PI) score calculator.

Choose between an Outsource and an In-house option

The next thing you need to ascertain, once you find out you’re eligible, is to decide if you want to undertake the conversion process in-house or outsource it to a solution/service provider. If you choose the in house process, you will need a well-qualified team with people who have an in-depth understanding of XBRL/iXBRL, CIPC taxonomy and the expertise in the tagging process.  If you outsource, you need to ensure that you’ve done the due diligence on the vendor so you get an accurate, timely, valid document that you can file in time.

Either way, it is best to test run your strategy – if you are planning an in-house conversion approach, use an iXBRL tool and try part of the conversion. Or if you are planning an outsourced conversion approach, ask your shortlisted vendor to test drive you through how the process would work. Also, ask for references and speak with other users of the vendor / solution to determine the pros and cons for yourself.

Plan a Calendar

Whichever path you choose to get your final iXBRL report, it is good to have a calendar in place. In an inhouse conversion option, you will need to consider the amount of time that your team would need to train and understand the conversion process. It will also include the actual iXBRL preparation time. But if you’ve decided to outsource the conversion, have a review calendar planned and agreed upon with your service provider. As a rule of thumb, if you select an in house conversion option, try and start a month ahead of your submission deadline. And if you are outsourcing, and only need to review the final iXBRL document, set aside a week to review the final iXBRL document once it comes back from your provider. This should give you sufficient buffer to pull together what is missing, seek clarifications and make sure you have the perfect report that can be lodged smoothly with the CIPC.

Have a budget chalked out

One of the most important factors that you need to consider is your budget. When you pick an in-house option, don’t forget to add the costs of your internal resources that will need to work on your iXBRL conversion. The internal costs should include manpower, training on XBRL, and time to constantly stay abreast of the latest CIPC taxonomy and filing rules, so that your inhouse team can tag, validate and create the right document for your CIPC filing. Outsourcing your iXBRL conversion to service providers may seem like a higher cost option (or not, depending on the service providers’ pricing), but may actually result in a total cost which is less, if they don’t demand your team’s time and attention except for the final review.

[hudsonmckenzie]

The value of commercial lawyers in London.

Much gets clear from the name itself, Corporate and commercial lawyers refer to pioneers in company and business law. They comprehend the smallest modifications between legal units and how to best exploit them for various objectives. They also help companies in various transactions stopping business operations.  

In the area of mergers and acquisitions, corporate lawyers in London are meant to fuel up discussions with the target unit first, typically launching a memorandum of understanding (MOU). The next stage for the corporate lawyers is to carry out legal due diligence on the target the company, examining what legal liabilities exist.

These liabilities can include usually litigation – pending and present – negotiable debt equipment, labor, and property concerned associated with the ownership and later, transmission. A register of all contracts is feuded into on behalf of the target firm is observed and the corporate lawyers in London check the risk to each one.  On the basis of the nature of the transaction, the lawyers need to submit merger notices with the TRP (Take Over and Regulation Panel) as well as with the Competition Commission in relation to the legislation.  The lawyers will also prepare the circumstances of sale and the agreement. Besides this, the corporate lawyers sometimes prepare finance agreements relating to the transaction as well as any escrow contracts.

After the transaction is decided, the corporate lawyers ready the new shareholder's agreements and suggest on the share structure/types of shares to be allotted in accordance with their mandate.  In addition, they draft the fresh entities’ memorandum of incorporation (MOI) and camp it at the CIPC (Companies and Intellectual Properties Commission) along with the documents completing name changes of the target firm.

Once this is done, they get involved in advising the company on how the alteration of ownership will influence movable and immovable property as well as providing advice on labor concerns.

The first foremost skill that corporate lawyers are loaded with is the considerate of business and how transactions will be suited in within the general scope and course of business.

The second and debatably most crucial aspect is an intermit understanding of company law, this includes but is not restricted to the New Company’s Act, the Competition Action, the Consumer Protection Act as well as detailed knowledge of business units. These kinds of lawyers possess excellent drafting skills and are able to bring in and exclude clauses in contracts for optimal value to the client.

Corporate lawyers are specialists in all surfaces relating to company law as well as possessing an in-depth understanding of how companies operate an & function. Besides these attributes, corporate lawyers are supposed to be awesome contract negotiators and drafters.  They are meant to work for long hours, often being fixed to constricted schedules.

Corporate lawyers need to be highly versatile in the way that they get exposed to all elements of commercial transactions and as such have a very good understanding of different aspects of company law.  

[reseau-actu]

Interpol lance une traque mondiale pour arrêter des fugitifs poursuivis pour crimes d’écocide

L’organisation de coopération policière internationale a lancé un appel à témoins pour mettre la main sur sept fugitifs, recherchés pour crimes contre l’environnement.

Le Monde avec AFP Publié hier à 14h04, mis à jour à 06h24

Temps de Lecture 3 min.

De l’ivoire et des armes confisqués par une unité de lutte contre les crimes organisés transnationaux, à Abidjan (Côte d’Ivoire), le 7 juin. SIA KAMBOU / AFP

Interpol, l’organisation de coopération policière internationale, a lancé mardi 4 juin un appel à témoins à l’échelle planétaire pour identifier sept fugitifs, recherchés pour des crimes contre l’environnement. Ils sont notamment poursuivis pour trafic illégal de trophées de chasse, commerce d’espèces protégées, exploitation forestière illégale et trafic d’ivoire. Les avis de recherche ont été lancés par la Chine, la Grèce, le Kenya et le Royaume d’Eswatini (ex Swaziland, au sud de l’Afrique), pays d’origine de ces criminels supposés.

« Interpol en appelle à la communauté mondiale : ces individus doivent habiter quelque part, ils doivent voyager, se déplacer, socialiser. Quelqu’un sait où ils se trouvent et nous demandons au public de nous aider à les traduire en justice », a exhorté à l’Agence France-Presse le directeur exécutif et numéro deux d’Interpol, Tim Morris, à l’occasion de la journée mondiale de l’environnement, mercredi. Les personnes détenant des informations sur ces individus sont invitées à les communiquer à l’adresse fugitive@interpol.int, précise l’organisation policière internationale.

Lire aussi Bolabola, le bois qui saigne

Ces fugitifs sont recherchés par Interpol parce qu’elles sont « liées à des organisations criminelles transnationales, qu’Interpol espère, par la même occasion, démanteler », explique Sébastien Mabile, avocat et spécialiste du droit de l’environnement.

Avis de recherche d’Interpol contre Muk Nam Wong, Guo Qin Huang, Bhekumusa Mawillis Shiba, Ergest Memo, Taulant Memo, Nicholas Mweri Jefwa et Samuel Bakari Jefwa, suspectés de crimes contre l’environnement. INTERPOL

« Il faut savoir que la criminalité environnementale est toujours connectée avec d’autres formes de criminalité, et en premier lieu, le terrorisme. Devant le trafic humain et de drogues, c’est la criminalité environnementale qui finance le terrorisme. Lutter contre les crimes d’écocide est un moyen d’affaiblir le terrorisme », insiste Sébastien Mabile.

Jusqu’à 250 milliards d’euros de bénéfices illégaux

Interpol estime que les crimes contre l’environnement génèrent entre 100 à 250 milliards d’euros par an de bénéfices illégaux. « Il y a du blanchiment, de la corruption, ainsi que des délits financiers, de la violence et des meurtres associés à ce type de criminalité, donc il est très difficile d’avoir une estimation exacte [des montants brassés par ces criminels]. Ce que nous savons, c’est que les profits sont énormes et que le coût pour l’environnement est insupportable », confirme Tim Morris.

Les fugitifs font l’objet de « notices rouges », des demandes d’arrestation en vue d’extradition émises par Interpol, sur demande de ses pays membres. Ses notices fonctionnent par code couleur, en fonction du type d’affaire traitée. Si Interpol recherche des personnes disparues, la notice sera jaune, si ce sont des personnes décédées à identifier, elle sera noire, s’il y a une alerte concernant un événement dangereux, elle sera orange. Cette classification comporte huit types de notices différents.

Article réservé à nos abonnés Lire aussi L’écocide, un concept-clé pour protéger la nature

Ce type d’appel public est très rare de la part de l’organisation basée à Lyon, et qui a davantage l’habitude de lancer un appel à témoins pour des cas de pédophilie, meurtres ou trafic de drogue. Depuis son lancement en 2009, les opérations Infra (recherche et arrestation des fugitifs à l’échelle internationale), ont permis de localiser ou d’arrêter 1 000 fugitifs, selon Interpol.

Le premier appel à témoins qui ciblait en particulier des fugitifs pour crimes contre l’environnement avait été lancé en 2014 : 139 criminels étaient recherchés dans plusieurs pays du monde, entre autres pour pêche illégale, commerce d’espèces protégées, enfouissement de déchets ou déforestation massive.

L’écocide pas encore reconnu en France

Reconnu en 2016 par la Cour pénale internationale (CPI), le crime contre l’environnement se définit par « des crimes impliquant ou entraînant des ravages écologiques, l’exploitation illicite de ressources naturelles ou l’expropriation illicite de terrains », et désormais considéré comme un crime contre l’humanité.

En France, le crime contre l’environnement, aussi appelé « crime d’écocide », n’est pas inscrit dans le code pénal. Les sénateurs socialistes ont voulu y remédier en proposant une loi visant à le reconnaître, mais elle a été rejetée au Sénat en première lecture, le 2 mai 2019. « Une proposition de loi mal ficelée » qui relève d’un « amateurisme » de la part du groupe socialiste qui l’a élaborée, selon Valérie Cabanes, juriste en droit international et membre fondatrice de l’ONG Notre affaire à tous, qui œuvre pour une justice climatique et participe à l’Affaire du siècle (avec la Fondation pour la nature et l’homme, Greenpeace France et Oxfam France), l’action en justice menée contre l’Etat pour « inaction climatique ».

Lire aussi Le Sénat rejette l’inscription du « crime d’écocide » dans le droit pénal

A quoi sert Interpol ?

Interpol est une organisation internationale visant à prévenir et à combattre la criminalité et le terrorisme. Elle permet à ses cent quatre-vingt-douze pays membres de transmettre, d’échanger et de consulter des informations policières, même s’il n’existe aucune relation diplomatique entre eux. Son président est élu par l’assemblée générale, composée de délégués désignés par chaque pays membre, pour un mandat de quatre ans.

Créée en 1923 à Vienne sous le nom de « Commission internationale de police criminelle«  (CIPC), elle passe sous le contrôle de l’Allemagne nazie en 1938 à la suite de l’annexion de l’Autriche. La plupart des pays mettent alors fin à leur participation, et la CIPC cesse d’exister en tant qu’organisation internationale. Elle ne renaît qu’au lendemain de la deuxième guerre mondiale, en 1946, sous le nom d’« Interpol », dont le siège est en France.

Politiquement neutre, elle n’a pas le droit d’intervenir dans les affaires ne concernant qu’un pays membre. Ses activités concernent le trafic et la production de drogue, le terrorisme, le blanchiment d’argent, le crime organisé et la criminalité transnationale.

Manon Pélissier

Réagissez ou consultez l’ensemble des contributions

Source: Le Monde.fr

[potatonewstoday]

How to make a potato store more efficient and get better sprout control

How to make a potato store more efficient and get better sprout control

A well-sealed store will decrease your energy bills, and increase the efficiency on sprout suppressants like ethylene and spearmint oil. In this article, Adrian Cunnington, Head of Sutton Bridge Crop Storage Research at AHDB Potatoes shares some tips for assessing and improving your potato store.

The loss of approval of CIPC will inevitably mandate change within the potato industry. For many…

[its-thea-blog1]

CIPC Mandate has taken care of the formatting of data and has shifted from unstructured data such as paper work, pdf’s, word documents to structured data of iXBRL

Check PI Score here and Know more about CIPC Mandate

[its-thea-blog1]

IRIS CARBON® , is a quality benchmarked and seamlessly scalable solution for creation of Inline/XBRL documents. The product caters to the regulatory requirement of various markets such as South Africa, USA, UK, Ireland and Italy and handles different taxonomies which includes IFRS, US-GAAP and other country specific taxonomies based on the regulatory reporting requirements.

Serving cloud based platforms in terms of CIPC iXBRL Tagging Services and iXBRL Reporting

[its-thea-blog1]

Are You Ready For iXBRL Filings??

If you do not ensure to get your CIPC iXBRL filings suitable for the first time, you may have to face a bad time ahead. If you are yet to begin with your CIPC iXBRL reporting course of action and have no clue how to get started, we are more than happy to help you.

[its-thea-blog1]

How Will Regulators Benefit from iXBRL Reporting

How Will Regulators Benefit from iXBRL Reporting ....

If an economic crime occurs, there is also a domino effect on the immediate stakeholders such as the employees and the people of the company, the industry that on which it belongs, and the total country.

PI Score - Public Interest Score (PIS). The calculator is provided as a guidance and for information purposes only.

In December 2017, Newcastle, south africa stared at a major acquiescence crisis when Steinhoff, on the list of top 10 listed companies inside Johannesburg Stock Exchange (JSE), mentioned to accounting irregularities. Typically the share prices of the corporation plunged (The company misplaced more than R100 billion within a day’s trading) leaving typically the shareholders and employees in a very lurch.

This incident ended up being compared to US’ Enron exergue by leading publications throughout the world. The signs of potential dupery were already brewing seeing that German authorities suspected the item back in 2015. The company acquired inflated its value in addition to hid its financial instability directly for years. However , it took a couple of years for it to come out in public.

Steinhoff is not a one-off unpleasant incident. Scams like the recent VBS Heist set off alarm warning buzzers about impending compliance scams waiting to explode

The Global Fiscal Survey published by PwC reported the economic criminal in the country to be the highest worldwide - a whopping 77%! Newcastle, south africa has taken its leap in direction of digital financial reporting while using CIPC iXBRL mandate using an aim to improve the quality of economic reporting.

The message seemed to be loud and clear instructions there was an urgent ought to improve the process of financial confirming to avert such craven; pusillanimous incidents from happening sometime soon.

The need for standardization in financial revealing

The Companies and Intellectual Residence Commission (CIPC) is responsible for unsafe effects of the business environment and maximizing investor’s confidence. Every fraction, the CIPC selects as well as reviews a sample of 12-monthly Financial Statements (AFSs) and also Financial Accountability Supplement (FASs) for compliance and communicates notices to those who will not adhere to the financial recordkeeping and reporting provisions talked about in the act.

Here are some useful numbers;

With 1 . main million active entities beneath purview of CIPC, going over such a large volume of AFSs was quite a herculean undertaking. KPMG study shows that the normal annual report contains a hundred sixty five pages, This means that the CIPC has been receiving millions of internet pages of financial data every year with PDF format, which is the unstructured format for files reporting. Going through millions of websites every year is just impossible, managing CIPC had an affiliate marketer of people with them.

To address that challenge, the CIPC presented a more structured format of monetary reporting named Inline XBRL (iXBRL). With this new style, the CIPC would acquire data in a structured approach quickly and accurately.

How can iXBRL benefit the regulators?

Not long ago, countries like the Netherlands along with Australia adopted XBRL to increase their compliance. While the Foreign tax office alone preserved AUD 1 . 1 tera- by moving to XBRL reporting, the SMEs within the Netherlands witnessed a lessing of time taken to credit purposes by four days if data was submitted by means of the XBRL standard.

Consuming cues from success stories across the world, the CIPC passed a new mandate on July 10th, 2018, making it mandatory for everyone qualifying entities to file all their AFSs in the iXBRL formatting.

To ensure that the AFSs records is on par together with the International Financial Reporting Expectations (IFRS), the CIPC released its taxonomy based on IFRS standards. They have also unveiled a validation engine (the implementation was done by IRIS) on their filing platform this automatically verifies if the AFSs complies with the basic policies.

The move to iXBRL usually are multifold; here’s how will help you the CIPC:

Detect Dupery: With the support of iXBRL, the CIPC can verify the AFSs quickly and lower the scope of issues committed due to human glitches. Reduced effort and time: The CIPC will be able to save time with calculating and scrutinizing each one AFSs individually. Improved in business efficiency: The CIPC are able to utilize their saved time frame comparing the data they be given from the filing to determine the general trends in each sector along with the economy as a whole. The road onward

The CIPC is invested in improving the compliance coverage standards and curbing often the instances of corporate fraud. Often the onus now lies for the businesses to cooperate in addition to adhere to the mandate to help curb instances such as Steinhoff and VBS Heist by happening in the future. XBRL report generation may not solve all the complications, but it would help in determine early signs of frauds.

[its-thea-blog1]

How to Choose a Cloud Computing Provider

Companies that are finally taking the stage and choosing to go with the cloud based software are very well on their way to enjoying much more flexibility, increased collaboration and much more as their business becomes a lot more productive than ever before. After achieving this decision, there is just one thing that stands within their way: choosing a cloud processing provider.

The CIPC has around 1.8 million active registered entities filing with it. PI Score of the entities is based on certain financial and non-financial parameters. With the help of PI score entities will know if they have to comply with the CIPC iXBRL Mandate or not. where CIPC iXBRL Tagging Services made it easy

There is a plethora associated with cloud computing providers accessible, and they all seem to promote that they are the best. There are listings upon lists advertising which of them are the top ten, and that one's work better for which kinds of businesses, such as small businesses. Usually it takes hours to simply search through all of that information.

Instead of taking upon that tedious task, company owners are encouraged to simply think about their demands, and then follow these simple tips to finding the perfect fog up computing provider.

Business's requirements

Every business has various needs depending on what their own product is, how many employees they have got and so on. Usually, there is 1 choice or another that specializes in a specific area. For example , a business specialists helping companies manage their particular social media marketing campaigns will have mare like a use for something that enables them to perform data evaluation to help determine their outcomes, and then share them with some other individuals on the team. Businesses that plan to simply make use of this for basic documents, but will have absolutely no use with this.

Beware of certain claims

Specific companies will claim that they provide the best uptime and points of this nature. While specialized advantages are a wonderful point, and they will certainly help out any kind of business, if this is all that they need to offer it is a good idea to maintain looking. There is usually a far more affordable company elsewhere which will offer key tools that will assist your business get exactly what it requires in order to be more modern and effective than ever before.

Location, location, area

This one factor simply cannot become stressed enough. Global companies may think that this is unimportant simply because they work all over the world. Others may not pay as much focus on this factor because solutions in one country are much less expensive than in ones that are nearer. There is however , one essential aspect to consider about the location: protection requirements and regulations differ greatly in different locations.

Like one country may take safety threats very seriously, as well as guarantee that every single precaution is actually taken to make sure that data will be safer than ever. Another nation, however , may simply giggle off the though and enjoy using as much money as they may while offering very little security, revealing confidential data and files. Take the time to research different nations if the cloud computing supplier is located across the world, and look in their security regulations and also requirements.

Choosing the perfect one particular for a business can seem complex, but simply taking this one step at a time can guarantee that every solitary business gets exactly what they require. These three factors can help companies get what they require without overpaying, and without having putting themselves at an improved risk for a security infringement.

When considering a cloud calculating provider, simply remember that they may not be all created the same. Consider what a business needs from them, after which find one to suit those demands. After that, move on to the next 2 steps, carefully narrowing straight down the possibilities one cloud computer provider at a time. This may nevertheless take some time, but it will be worthwhile in the end.

[its-thea-blog1]

Inline XBRL Conversion Services by thea dani Via Flickr: If you do not ensure to get your CIPC iXBRL filings suitable for the first time, you may have to face a bad time ahead. Have you ever noticed what is PI Score of your organization... if you are yet to begin with your CIPC iXBRL reporting course of action and have no clue how to get started, we are more than happy to help you.... We are the top most Inline XBRL Conversion Services providers