Overview

You will be aware by now that as from 1 July 2018 all qualifying companies must submit their annual financial statements to the CIPC in a new format called XBRL. 

Through the powerful analysis capabilities of XBRL, CIPC is now able to determine trends in various industries and the economy as a whole. XBRL also provides benefits to entities, like better accuracy in reporting, and cost effectiveness with regards to preparation of annual financial statements. 

Attend this webinar and engage directly with two experts in XBRL, Stephen Motseki and Earl Steyn. Stephen will present from the perspective of the CIPC while Steyn will give a perspective of accounting practices.  

Learning objectives 

By the end of this event the participant should:

• Understand how to submit financial statements in the new XBRL format.
• Understand why XBRL is necessary.
• Understand which companies are affected.
• Understand the role of accountants vs auditors in filing XBRL.
• Understand the filing deadlines.
• Get answers to FAQs on XBRL.

Course content 

The webinar will cover the following topics in detail: 

• What is XBRL?
• How to tag income and expenses and create sub-classifications of assets, liabilities and equities before filing to CIPC .
• What are the filing deadlines for filing financial statements using XBRL?
• Which entities are affected by new filing requirements and which are excluded?
  • Companies;
  • Close Corporations; and
  • Co-operatives.
• Which engagements are subject to XBRL filing? 
  • Audits,
  • Independent review; and
  • Compilations.
• What is the differences between:
  • Filing XBRL financial statements; and
  • Financial accountability supplement?
• What will CIPC do with the XBRL filed financial statements?
• Does the XBRL financial statements need to be audited prior to filing with CIPC?
• Can accountants file XBRL financial statements? 
• How does auditor independence affect filing obligation?
• FAQs on XBRL.

Obtaining your CPD certificate

Attendance of this 2-hour webinar will accrue 2 CPD hours for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by SAICA, AAT, SAIPA, SAIBA, IAC, CIS and others.

Complete the free online assessment at the end of the event and receive an additional 1 CPD hour.

Who should attend

The following persons will benefit from attending this webinar:

• Professional Accountants including: CA(SA),PA(SA) and BAP(SA);
• Registered auditors (RA);
• Bookkeepers;
• Tax practitioners; and
• Entrepreneurs.

Price:                    

• R 399.00 - Online admission - Individual.
• R 699.00 - Online admission - Company.
• Choose Individual if you would like to attend this event yourself or choose Company if you would like to share this event to with your entire firm.
• This webinar is free if you are already a subscriber to the CA, PA, BAP, Bookkeeper or Tax Practitioner CPD packages. 
• Click here to find out about the Technical Resource Centre & CPD Subscription options.
• Click here to create a profile and then register for the event (There is no charge to create a user profile and gain access to our free Monthly Practice Management Series).

Additional material 

By attending this webinar you will be provided with:

• Summarised slide presentation, 
• Detailed course material and reference documents.  
• You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar.