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The role of financial statements in the CIDB registration process

HomeThe role of financial statements in the CIDB registration process


Financial statements are compulsory for all CIDB applications from grades 3 to 9.

Interim & annual financial statements are accepted, however, management accounts are specifically disallowed.

The financial statements should be signed off by a suitably qualified accountant or auditor with fully paid up membership fees at a recognized South African accounting & auditing control body such as SAICA, SAIPA Or SAIBA.

On the accountant’s report, the accountant should include his or her full names, practice and reference contact numbers as they appear at the controlling body.

In addition to this, the financial statements prepared should comply fully with IFRS taking into account full and separate disclosure in terms of construction contracts.

Clients should also ensure that the revenue as well as the net assets value as reflected within the statement of changes meets the minimum requirements needed for the CIDB upgrade that they are applying for.

For assistance with your CIDB upgrade application needs, please fill in the application form for a quote and we shall get back to you for professional assistance.