Why is the Public Interest Score so important?
The Independent Review comprises primarily of verbal inquiry of owner, management and staff as well as detailed financial analysis.
The salient points here are:
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Inquiry of business operation and analysis of financial information
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Expressing a negative opinion
During the course of the review, the following may be highlighted
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Efficiency/inefficiency of internal controls and processes
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Effectiveness/ ineffectiveness of operational procedures
Documentation prepared throughout the review may be of use to owners and managers, such as
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Operational and processing flow charts, hierarchical business models organograms and narratives
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Documentation which could be put into an operating manual
A Public Interest (PI) Score applies to every company and close corporation, and has to be calculated at the end of each financial year in terms of Regulation 26 in order to determine whether your company has to undergo an audit or an independent review
Calculate your Public Interest Score
