In terms of Section 33 of the Companies Act of 2008 read together with Regulation 28, 29 and 30 of the Companies Regulations of 2011, the following entities must submit their AFS in XBRL with their annual returns: Entities whose Memorandum of Incorporation (MOI) or Articles of Association requires the auditing of their financial statements Private or personal liability entity, in the ordinary course of its primary activities, holding assets in a fiduciary capacity for persons who are not related to the company, and the aggregate value of such assets held at any time during the financial year exceeds R5 million; Private or personal liability entity that compiles the AFS internally (for example, by its Financial Director or its owner) and that has a Public Interest Score ("PIS") of 100 or more; Private or personal liability entity that compiles AFS by an independent party and that has a PIS of 350 or more; and Private or personal liability entity not managed by its owners, which opted to have its AFS audited or voluntarily included audit as part of its MOI, may be subjected to an independent review if: It compiles its AFS internally and its PIS score is less than 100; and AFS compiled independently and its PIS is between 100 and 349. These entities from 1 July 2018 are required to have their AFS in XBRL format in order to submit their annual return to CIPC.

As of 01 July 2018, the CIPC mandated the digital reporting systems for all qualifying entities. This means all submissions of Annual Financial Statements ("AFS") is required to be submitted in the new and transparent XBRL format.