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What are the Financial Accountability Supplement (FAS) and the Annual Financial Statements (AFS)?

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Confused by the terms FAS and AFS when it comes to company compliance? You're not alone. Many business owners and accountants struggle to understand these key financial reporting terms. In this article, we’ll break down the differences between Financial Accountability Supplement (FAS) and Annual Financial Statements (AFS) so you can better navigate your obligations.


What are the Financial Accountability Supplement (FAS) and the Annual Financial Statements (AFS)?


  • Financial Accountability Supplement (FAS): This is a simplified internal financial summaries required by the Companies and Intellectual Property Commission (CIPC) from certain private companies. They are typically submitted through the CIPC’s online portal and used to demonstrate basic financial accountability when the full AFS are not required.
  • Annual Financial Statements (AFS): These are formal, comprehensive reports prepared in accordance with recognised accounting standards (e.g. IFRS or IFRS for SMEs). AFS must be compiled, independently reviewed, or audited depending on the company’s structure and size, and are submitted to regulatory bodies like the CIPC.



Under the Companies Act, 2008, and Companies Amendment Regulations, 2023, certain companies are required to submit AFS:

  • Section 30: If the company’s MOI mandates an audit.
  • Section 33a: Companies with a PI score of 350 or more must file AFS.
  • Section 33b: Companies with a PI score of 100 or more and internally compiled financials.
  • Section 30(4): If the company holds fiduciary assets exceeding R5 million.

If non of these criteria are not met, companies must submit a FAS.


How InfoDocs can help


InfoDocs offers a user-friendly platform to simplify the submission of both FAS and AFS. We provide a free PI score calculation tool to help you determine which filing option you need based on your company’s requirements. This makes it easier for you to stay compliant with regulations, ensuring your filings are accurate and timely. With flexible options and automated support, InfoDocs lets you focus on your business while we handle the compliance details.


Get started with InfoDocs today.

Updated on: 14/08/2025

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