Companies Regulation 26 + 28

Audit vs Independent Review (PIS) Calculator

The Public Interest Score determines whether your company's AFS must be audited or independently reviewed. Enter four numbers — we compute the score and the ruling instantly.

Average number of employees during the year

employees

Use the average — not year-end head count.

Third-party liabilities at year-end (ZAR)

ZAR

Excludes shareholder / director loan accounts.

Turnover for the financial year (ZAR)

ZAR

Gross income from sales / services.

Individual beneficial holders of securities at year-end

holders

For NPCs, the number of members.

Our AFS are internally compiled (not by an independent practitioner)If yes, the audit threshold drops from 350 to 100.We are owner-managed (every shareholder is also a director, no outside shareholders)May exempt the company from Independent Review at low PIS.

Public Interest Score

points

Employees

Liabilities

Turnover

Holders

Required assurance

Independent Review

Even at low scores, the Companies Act requires either an Audit or an Independent Review, unless the company is owner-managed (every shareholder is also a director and there are no third-party shareholders).

Common thresholds

PIS < 100Compilation may suffice (owner-managed)
PIS 100 – 349Independent Review
PIS ≥ 350Audit (RA-signed)

Want this confirmed by an RA?

Your MOI may also override the default by requiring an audit. We compute and document the PIS for every TC Auditors client annually and lodge it with the AFS file.

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This calculator implements Companies Regulation 26 (formula) and Regulation 28 (audit / review thresholds). Certain regulated entities (e.g. financial institutions, JSE-listed) must be audited regardless of PIS.