Our Monthly Legislation and Standards Update provides a summary of some of the most important legislation updates from the previous month. This helps you, our client to stay up-to-date on recent and important legislation developments in auditing, accounting, tax, SARS operations, CIPC operations, Labour and other relevant laws.
This February 2018 Monthly Compliance and Legislation Update is focused on important changes affecting professionals since January 2018. The content will cover the latest changes and amendments over the last 30 days with regards to the topics below.
Key learning outcomes
The outcomes of the webinar include:
Uncover common non-compliance mistakes;
review the key provisions of the relevant Acts;
explore the rules of conduct most misunderstood;
examine practises to remain compliant;
identify key learning from case studies; and
develop strategies to improve practice, reduce risk and ensure compliance.
Course Content
IFRS:
New guidance on the accounting treatment of attorneys’ trust accounts (FAQ issued by SAICA)
IFRS 17 : Insurance (IASB : accounting model summary)
General IFRS update
IRBA:
Audit fees survey (IESBA to consider changes to Code of Ethics – deadlilne for comments 1 March 2018)
IRBA comment deadlines (including Access to Working Papers due by 28 February 2018)
Final amendments to the IRBA Code addressing Long Association of Personnel with an Audit or Assurance client
Proposed Amendments to Public Audit Act
CIPC:
4 New notices released (domain names registration, changes to website, MOI retrieval, registration date)
Companies will require software to submit AFS to the CIPC via XBRL
Steinhoff served with compliance notice (including impact on Reportable Irregularities)
Labour Law:
Lackay loses CCMA case against SARS
Labour Relations Amendment Bill (Extension of Bargaining Council agreements to non-parties)
Minimum wages update (sectoral determinations)
Are Uber drivers considered employees of Uber?
Other Laws & Regulations
affecting your client AND
impact on NOCLAR:
COIDA : changes in monthly pensions payable & maximum amount of earnings
The FAIS Act (Fit and proper requirements)
The Foodstuffs, Cosmetics and Disinfectants Act (Draft cosmetics regulations)
The Insurance Act, Long-term Insurance Act and Short-term Insurance Act (Multiple changes)
The National Health Act (Notifiable medical conditions regulations)
New POPI guideline for attorneys
Draft Bill on Debt Rescue
FATF report on Financing Recruitment for Terrorism
SARS:
Acts promulgated in December 2017:
Taxation Laws Amendment Act 17 2011
Tax Administration Laws Amendment Act 2017
New Draft SARS guide released in January 2018:
Understatement penalties
Interpretation Note 22 – Transfer duty exemption: Public benefit organisations and institutions, boards or bodies
Draft Interpretation Notes (4 new and 1 updated issue)
Binding Private Rulings 288 to 292 (Including BPR 291 on Taxation of Subsistence Allowances)
Binding Class Ruling (BCR) 060 - Consequences of an employee share trust disposing of the underlying shares and distributing the net proceeds to the beneficiaries
Another take on ITC 14055 – Social corporate expenditure
12 Years for VAT fraudster
Regulator news:
About KPMG:
Update on IRBA investigations into KPMG
Update on the Ntsebeza inquiry into the conduct of SAICA members employed by KPMG
Former KPMG partners arrested for leaking confidential information from regulator
PwC found negligent over Colonial Bank failure
India bans PwC for 2 years
FIC issues amended Schedule 1 to FIC Act (expansion of accountable institutions)
SAICA & SAIBA require NOCLAR declarations
FIC : Updated guidance on mode of communication
FSB Notices (includes Sec 9B disclosures to the Registrar & Sec 37(2) penalties)
General Announcements / News Releases:
Practice expansion : Agreed-Upon Procedures Engagements becoming popular (IFAC)
Removal of Directors by Shareholders
SARS' compliance intervention in religious sector
Staff resignations decline at SARS
SAICA launches new webpage - emerging technology
Steinhoff parliamentary hearings (impact for accountants)
Obtaining your CPD certificate
On completion of this webinar you will earn a CPD certificate to claim CPD hours from your professional body. This provide powerful proof of your new competencies and use it to set yourself apart from the rest and get recognised in the job market.
Attendance of this two-hour webinar will accrue 2 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
Complete the free online assessment at the end of the event and receive an additional 1 CPD hour.
Who should attend
Accounting, auditing, and tax professionals
HR practitioners
Business owners and company directors
Legal advisors
Company secretaries
Read what our delegates said about the previous webinar.
Ashraf: Really great presentation
Johann: Thank you for a very good webinar. Many things learned. Keep on. Good presenter.
Tshepo: Thank you Lettie, the webinar was insightful and knowledge enriching.
Sophie: Thank you so much - please continue to enlighten us!
Magaretha: Thank you Lettie, I look forward to all the rest of your coming presentations.
Michele: Thank you Lettie, this was a very good presentation. Looking forward to the next one.
Venisia: The presenter was well prepared
Marthinus: Course well presented Presenter Well prepared
Johann: The tax section.
Tshepo: The difference between NOCLAR and RI and their implications.
Simon: Course material and explanation by the presenter was very clear and to the point
Nkgolo : Course content and articulation by the lecturer
Gerard: Variety of Topics
Previous Recording
Preview the snippet below for a sneak peak at what you can expect from the webinar
Save this event to your Google or Outlook calendar.
Venues & Dates
The following venues and dates are available for this event.
