Looking into How can I get my CIDB certificate? Put your best foot forward when you apply for grading with the cidb. Making sure that your business gets the grade that it deserves gives you advantage. Spend a bit more time preparing application documents and take charge of the outcome.
Preparing and submitting financial statements
When preparing and submitting financial statements make sure to:
- Provide details of your accounting officer as required in Section D of the application form. Don’t ignore Section D. It is very important.
- Provide the correct accounting officer’s details. Section D requires details of the accounting officer who compiled your financial statements. This is the only relevant accounting officer whose details are required in Section D. Any other person’s details will render your application non-compliant.
- Use an accounting officer who is registered with a recognised accounting body to compile financial statements. Don’t use a tax practitioner.
- Use an accounting officer who is in good standing with the accounting body that they are registered with. If your accounting officer is not in good standing with their registered accounting body your application will be deemed non-compliant.
- Compile financial statements in terms of the generally accepted accounting principles (GAAP). Don’t let your accounting officer sell you short when compiling your financial statements.
- Submit proper financial statements, not draft statements. The cidb does not accept those.
- Provide documents that support your financial statements if they are not audited. If your financial statements are not audited provide the cidb with copies of either bank statements, or with Vat returns (Vat 201 and Vat statements of account) as supporting documents.
- Submit financial statements for the correct financial year. This includes any supporting documents such as bank statements and Vat returns. The correct financial year is the 12 months preceding your application for registration. Anything outside that period is irrelevant and will render the application non-compliant.
- Your bank statements or Vat returns must be complete. Submit all pages of the statement and not just some. Half or partial statement will render your application non-compliant.
- Your bank statements must have a bank stamp.
- Make sure that your accountant has accounted for tax in your financial statements.
- Make sure that the accountant has transferred figures correctly in the financial statements.
Preparing and submitting track record
The right supporting documents will ensure that your submission complies with basic requirements when you apply for contractor registration. Here are a few tips on things to pay attention to:
- If you submit a bank statement to prove that you were paid for a project, make sure that payments on the bank statement match the amounts in the invoices you submit to the cidb. Mark these payments clearly in the bank statement. Don’t shade them. Shading makes them dark and hard to read. Illegible statements are inadmissible.
- If you are using a track record you acquired as a subcontractor, attach a copy of your subcontracting agreement. Without the subcontracting agreement your track record may be inadmissible.
- If you are using a track record you acquired in a joint venture, attach a copy of your joint venture agreement.
- If you are applying for different classes of works using the same project, attach the bill of quantities showing the breakdown of the classes of works involved.
- The letter of project award must be on the client’s letterhead not your company’s letterhead.
Contact Details
Tel: 086 100 2432 or 012 482 7200
Anonymous Fraud Line: 0800 112 432
Postal Address
PO Box 2107, Brooklyn Square, 0075
Physical address:
Block N&R, SABS Campus, 2 Dr Lategan Rd, Groenkloof, Pretoria, South Africa