How to Calculate Public Interest Score for CIPC
How to Calculate Public Interest Score for CIPC Mandated by the Companies Act, 2008, businesses in South Africa must calculate their PI Score and submit it along with their financial statements to the Companies and Intellectual Properties Commission (CIPC). But what is a PI Score? The Public Interest Score (PI Score) indicates the degree of public interest in your company. It determines whether your company requires an audit or an independent review of the financial statements and the reporting standards to be applied. In addition, it helps companies with a high PI Score to determine their need to appoint a Social and Ethics Committee.The primary issue to address is - How to calculate this PI score? Let’s find out.
Calculating the PI Score for Your Company
A company’s PI Score is calculated with the help of a point system. Various financial parameters are given points that are added to find the overall PI score of the company. These structural and financial parameters include:--
Number of Employees
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Third-Party Liabilities
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Turnover
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Number of Stakeholders