15. Bookkeeping

As per regulation made under the South African law promulgated in 2011, entities in South Africa are permitted to use either International Financial Reporting Standards (FIRS), the FIRS for SMEs, or the South African Generally Accepted Accounting Practice (SA GAAP). Section 32(1) of the Estate Agency Affairs Act requires an estate agent to open and keep one or more trust accounts, to be properly...

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