The Public Interest Score (“PIS”) is to be determined at the end of each financial year by each Company.
a = average number of employees during the financial year
b = one point for every R1m in 3rd party liability at the financial year end
c = one point for every R1m turnover during the financial year
d = one point for every individual shareholder who at the financial year end:
* has beneficial interest in securities: profit company
* is a member: non-profit company
The PIS will indicate in respect of Private Companies whether an audit is required and whether an ethics committee will have to be instituted or not.