JHB 
Interest Score
Interest Score
What is Public Interest Score
and why it is important?
Why is the Public Interest Score important for your company?
Understanding your company’s PIS is essential as it dictates the statutory financial reporting obligations. A higher PIS may necessitate more rigorous financial oversight, impacting compliance costs and operational transparency. Conversely, a lower PIS could mean fewer regulatory requirements, allowing for streamlined and less onerous financial processes.
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Understanding the consequences of differing Public Interest Score levels
The PIS directly affects a company’s financial reporting and compliance requirements:
PIS below 100
- Owner-managed companies: No mandatory audit or independent review is required.
- Not owner-managed: An independent review of financial statements is required.
PIS between 100 and 349
- Owner-managed companies: An independent review of financial statements is required.
- Not owner-managed: A mandatory audit is required if financial statements are internally compiled; an independent review suffices if they are externally compiled.
PIS of 350 or more
- A mandatory audit of financial statements is required, regardless of whether the company is owner-managed or not.
Non-compliance with these requirements can lead to penalties and risks damage to the company’s reputation.
How to calculate your company’s Public Interest Score
The Public Interest Score is calculated by assigning points based on the following criteria:
Number of employees
One point per employee (average over the financial year).
One point for every R1 million (or part thereof) in annual turnover.
Third-party liabilities
One point for every R1 million (or part thereof) owed to external parties at year-end.
Beneficial shareholders
One point for each individual with a direct or indirect beneficial interest in the company’s issued securities.
For an accurate assessment, utilize our online Public Interest Score calculator.
The benefits of knowing your Public Interest Score
Ensure compliance
Meet statutory audit or review requirements, avoiding penalties.
Enhance transparency
Build stakeholder trust through adherence to regulatory standards.
Strategize effectively
Make informed decisions regarding corporate governance and financial management.
Regularly calculating and understanding your PIS is vital for maintaining good corporate governance and ensuring your company meets its statutory and legal obligations.
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