The Act states that the annual financial statements of 'each company that is required in terms of this Act to have its annual financial statements audited' must include the particulars set out in S30(4). This requirement therefore applies to:
' public companies;
' state-owned companies;
' any company that, in the ordinary course of its primary activities, holds assets in a fiduciary capacity for persons who are not related to the company, and the aggregate value of such assets held at any time during the financial year exceeds R5 million;
' 'any non-profit company, if it was incorporated '
o directly or indirectly by the state, an organ of state, a state-owned company, an international entity, a foreign state entity or a foreign company; or
o primarily to perform a statutory or regulatory function in terms of any legislation, or to carry out a public function at the direct or indirect initiation or direction of an organ of state, a state-owned company, an international entity, or a foreign state entity, or for a purpose ancillary to any such function';
' any other company that has a public interest (PI) score of 350 or more; and
' any other company that has a PI score of at least 100 if the annual financial statements for that year were internally compiled.
SAICA prepared a list of Frequently asked questions on the disclosure of directors remuneration which is available on the website