COL 02 –  Basics of the Companies Act

Course Presenter: L. Rautenbach/J-M. Smit/A. Engelbrecht (Practical)

Duration: 8 hours

Maximum Attendees: 30

Course Level: Beginners/Intermediate

Costs: (FCS Clients, NIPA, ICAN) N$ 2,200.00

Costs: (all others) N$ 2,900.00

Aimed at: All accounting and audit trainees; Company Secretarial staff; Directors of Companies;

Contents:

  1. Types of Companies available in Namibia and how is a Company constituted.
  2. What is a Memorandum and Articles of Association and what is governed by it?
  3. Conversions of Companies and Close Corporations – requirements and effect thereof;
  4. External relationships including pre-incorporation contracts;
  5. Shares: Are Companies allowed to provide financial assistance to a third party to acquire shares in that Company? Are Companies allowed to acquire its own shares? How do share transfers work?
  6. Directors: Who may act as a Director? The role of directors, their fiduciary and other duties; Personal liability risk of directors; What are the powers, duties and risks associated with alternate directors?
  7. Auditors: Why should a company be audited? Should all companies be audited? The appointment, removal and resignation procedures for auditors; Rotation of auditors – is this a requirement in terms of the Companies Act? The rights and duties of an auditor.
  8. What are the accounting requirements for a company in terms of the Companies Act?
  9. Followed by practical session on completion of various Company forms.