S204 Financial Reporting Standards Council

Section 204 – Financial Reporting Standards Council

Section 204 of the Companies Act surrounding the functions of the Financial Reporting Standards Council was amended to the extent that the council must adapt international reporting standards for local circumstances through the issue of financial reporting pronouncements in the Gazette, instead of doing so by way of consultation with the Minister.

The Companies Act Amendments 2024:

Pertinent changes were made to our South Africa Companies Act after the Companies Amendment Act 2024, No. 16 and the Companies Act Second Amendment, 2024 No. 17 were ascended into law on 25 July 2024.

The above amendments came into effect after proclamation was made in the Gazette during December 2024.

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