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What is a Public Interest Score?

A Public Interest Score (PI Score) is an indication of your company’s level of public interest. Your company’s level of public interest indicates the level to which it must be regulated, and the level of financial reporting that is required.

Every company is compelled by the Companies Act to calculate, and submit to the CIPC, their PI Score annually. The calculation is required to be performed prior to the preparation of the annual financial statements.

What does the Public Interest Score tell us?

The results of the Public Interest Score indicate the following:

1. Whether the annual financial statements of the company must be audited or independently reviewed;
2. What financial reporting standards should be utilised in the preparation of the annual financial statements;
3. Whether the company requires a Social and Ethics Committee;
4. The size of the company when appointing an appropriate business rescue practitioner; and
5. If the company is required to file their annual financial statements with the CIPC

How is the Public Interest Score Calculated?

The PI Score is calculated on a points basis, with points allocated as follows:

a) Number of employees (or average over a financial year, if this number varies from year to year) – 1 point per employee;
b) Third party liabilities – 1 point per R1 million (or portion of);
c) Turnover – 1 point per R1 million (or portion of); and
d) Number of shareholders – 1 point per shareholder (irrespective of how many shares they hold individually)

How can The Accounting Team assist with your Public Interest Score?

You can calculate your PI Score on our website CLICK HERE –  or alternatively select the “assist” option for us to calculate your score for you.

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