What is CIDB certificate? CIDB certificate is a rank given to a construction company based on the value and experience of it’s past construction projects.
The rank is based on works, financial and general compliance criteria.
The grading ranks from grade 1 (entry level position) up to 9. Government tenders of specific contract amounts are strictly awarded to specific construction companies that hold a specific CIDB grading.
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.
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