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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part D : Financial Reporting Standards Council

204. Functions of Financial Reporting Standards Council


The Financial Reporting Standards Council must—

(a) receive and consider any relevant information relating to the reliability of, and compliance with, financial reporting standards and adapt international reporting standards for local circumstances and consider information from the Commission as contemplated in section 187(3)(b);
(b) advise the Minister on matters relating to financial reporting standards; and
(c) consult with the Minister on the making of regulations establishing financial reporting standards, subject to the requirements set out in section 29(5).