Companies Amendment Act – changes and impact for companies and auditors?

The Companies Amendment Act provisions that took effect on 22 May 2026 introduce amendments to section 30 (annual financial statements), sections 30A and 30B (remuneration policies and remuneration reports), and section 166 (alternative dispute resolution) of the Companies Act 71 of 2008.

For companies, the challenge is operational readiness and governance coordination.

For auditors, the challenge is timing, completeness, consistency and clarity over the scope of audit coverage.

 In summary, these amendments:

• Require director and prescribed officer remuneration disclosure in audited annual financial statements by name;
• Introduce a statutory shareholder approval cycle for remuneration policies and remuneration reports in public and state-owned companies; and
• Revise the alternative dispute resolution framework through the company’s tribunal.

The amendments clarify that directors and prescribed officers must be identified by name, and specify the remuneration information that must be disclosed, together with the shareholder approval requirements applicable to remuneration policy and remuneration reporting. This, in turn, sharpens the focus on what auditors need to assess in relation to completeness, accuracy and consistency of disclosures…

Heather Ashe | Associate Director | Tax & Legal | mail me |	Jerome Gray | Associate Director | Tax & Legal | mail me |	Farhin Sheth | Associate Director | Department of Professional Practice | mail me |	Taskeen Cassim | Senior Manager | Department of Professional Practice| mail me |
| KPMG Southern Africa |

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