SAICA Updates Retention of Records Guide Across 37 Statutes

Posted 15 October 2026 Written by Acts Online
Category Compliance

Brought to you by SA Accounting Academy: The South African Institute of Chartered Accountants’ (SAICA) Legal Compliance Committee has released an updated edition of its Retention of Records Guide, establishing mandatory document preservation periods across 37 South African statutes.

Statutory record retention obligations are distributed across multiple enactments, notably the Companies Act, No. 71 of 2008, the Tax Administration Act, No. 28 of 2011, the Value-Added Tax Act, No. 89 of 1991, and the Basic Conditions of Employment Act, No. 75 of 1997. The guide provides a consolidated schedule identifying each legislative requirement, the specific documentation entities must maintain, and the applicable mandatory retention periods.

The reference guide addresses general legislation impacting commercial operations, employers, and taxpayers, structuring requirements by statute and documentation class:

  • Company governance and corporate records: Founding documentation, minutes of meetings, director and shareholder registers, and annual financial statements governed by sections 24 and 26 of the Companies Act, No. 71 of 2008.
  • Taxation and revenue records: Ledgers, cash books, invoices, bank statements, and supporting vouchers retained under section 29 of the Tax Administration Act, No. 28 of 2011 and section 55 of the Value-Added Tax Act, No. 89 of 1991.
  • Employment and remuneration data: Employee registers, payroll records, and attendance logs required under the Basic Conditions of Employment Act, No. 75 of 1997 and the Compensation for Occupational Injuries and Diseases Act, No. 130 of 1993.
  • Customer due diligence: Client identification, verification, and transaction records required under section 22 of the Financial Intelligence Centre Act, No. 38 of 2001.

What this means for you, your business, or your clients

  • For yourself: Cross-reference your professional engagement files, review documentation, and audit evidence against statutory holding periods to prevent premature disposal of regulatory records.
  • For your business: Review internal document retention and digital disposal schedules to ensure your practice’s archiving systems satisfy the preservation criteria across all 37 referenced statutes.
  • For your clients: Instruct corporate and individual clients to review their archiving and destruction schedules to ensure company secretarial, employment, and tax records are retained for the prescribed statutory durations.

Originally published at https://accountingacademy.co.za/news/read/saica-retention-of-records-guide-updated-2

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