28. Accounting records

28. 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).

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