A sole director creating a subsidiary fully owned by his current (Pty) Ltd. He’ll run both companies himself, but here’s the twist: does this new setup still count as "owner-managed"? And can a Business Accountant in Practice handle the group financials? It sounds simple, but the moment a company becomes the shareholder (not the individual), the rules shift. If you’ve got clients growing their business footprint, this FAQ unpacks what changes, what stays the same, and what you can legally do next.

What happens when a (Pty) Ltd is accidentally dressed up like a Close Corporation? That’s the dilemma in this real-world case where a client’s 2020 financials used CC-style terms like “members” instead of “directors,” despite being a (Pty) Ltd all along. Now, as the team prepares the 2021 AFS under IFRS for SMEs, key questions arise: Should 2020 be recompiled? Is a disclosure note enough? What do the professional standards say? If you’ve ever had to untangle a client’s financial past, this one’s for you.