Do I need to apply to the PPRA to have an independent review of my financial statements, instead of an audit?

The Property Practitioners Regulatory Authority (PPRA)
The Property Practitioners Regulatory Authority (PPRA) primary mandate includes, among others, regulating the affairs of all property practitioners; allowing for transformation in the property sector and to ensure consumer protection against undesirable practices and conduct of property practitioners.

NO, if you meet the requirements of an independent review in terms of the PPA and the Companies Act, you can have your financial statements independently reviewed and you do not require any written permission from the PPRA.

For those who operate as companies, the formula for calculating your Public Interest Score is as follows:

  • 1 point for every employee;
  • 1 point for every R1 million of third party liability at year-end;
  • 1 point for every R1 million of revenue for the year;
  • 1 point for every individual with a beneficial interest in the company’s shares
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