Directors of South African businesses need to ensure that they are fully compliant with the latest record keeping regulations in terms of the new Companies Act, in order to avoid potential legal feels and in some cases, imprisonment and business closure.
The new Companies Act clearly stipulates that local businesses need to securely store and manage select key company records for up to seven years, highlighting the importance of good records management practises.
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The full article is available in the February/March 2012 Issue of Business Brief and is available in the online magazine. To access this magazine, click here to subscribe
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