Compliance and Legislation Update - March 2018

Date: Mar 28, 2018 - Mar 28, 2018

CPD hours: 2 Hours

Time: 09:00 - 11:00

Event Type: Webinar

Presenter: Lettie Janse van Vuuren
CA (SA), Registered Auditor

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 March 2018 Monthly Compliance and Legislation Update is focused on the following important changes affecting professionals since February 2018. The course content will cover the latest changes and amendments over the last 30 days with regards to the topics below. In-depth detail of the content will be available two weeks before the webinar.

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

  • ED64 : New Lease Accounting Model proposed for the Public Sector (IPSAS 13) – comments due by 30 June 2018
  • IAS 19: Amendments to the employee benefits standard (IAS 19) on pension accounting published
  • General IFRS update
  • 8 Feb press release: IRBA wants to rope in audit committees under new APA
  • 25 press release: IRBA wants restated Steinhoff financial statements
  • Enforcement: list of CCs without accounting officers published
  • Enforcement: personal liability if CC acts without accounting officer
  • Update: revised guidance on appointment of accounting officers
  • Accredited bodies: criteria to be appointed as business rescue practitioners
  • Mandatory share offers: Takeover Regulation Panel ruling issued.  
Labour law:
  • National Minimum Wages : exemptions
  • Asylum seekers: application for UIF 
  • Application: how to calculate the monthly notice period.
Other Laws & Regulations affecting your client AND impact on NOCLAR:
  • COIDA : companies required to pay the funeral expenses of deceased employees 
  • National Credit Amendment Bill: Treasury objection -   extinguishing debt would deprive creditors of property 
  • Money Laundering: list of deficient countries published
  • King IV: Practice Notes on committees and declaration of interests 
  • Legal Practice Act: rules published affecting audit and accounting of attorney trust accounts 
  • Children's Amendment Act: removal of child without court order
  • National Health Act: new safety standards for health establishments 
  • Labour Relations Act: essential services
  • Insurance Acts: penalty for failure to submit returns
  • 2018 Budget: highlights 
  • Guides (new and updated): 
  • VAT rate increase
  • FAQs on the increase in the VAT rate
  • Tax rates, duties and levies 
  • IT Returns: latest enhancements for Trusts & Companies
  • PBO Interpretation Notes :
  • 22 – transfer duty exemption
  • 24 –partial taxation of trading receipts
  • 98 – transfer of funds and resources to any association or person 
  • Interpretation Notes (new and draft) : 
  • 99: lump sum benefits classified as unclaimed benefits
  • Lease premiums, leasehold improvements, building allowances and meaning of “bulk” in mining industry
  • Binding Private Ruling issued: 293 - disposal of shares by a non-resident individual
  • Draft public notice: Amendments to IT3 returns -  Section 26 of the Tax Administration Act, 2011 
  • Court cases: tax administration, understatement penalties, gross negligence, tax returns
Regulator news:
  • Consumer Ombud (CGSO): fee structure announced 
  • Community Schemes Ombud (CSOS): Practice Directive 3 (discount or waiver of levies and fees) released
  • Tax Ombud newsletter
  • SARS warning on search & seizure scams
  • SAICA audit support line for public schools launched
  • Saiba/Unisa certificate for school bookkeepers
  • EAAB:
  • Fines for CPD training waived until 31 March 2018
  • Guidance on implementation of FIC Amendment Act by estate agents
General Announcements / News Releases:
  • SAICA update on Ntsebeza inquiry
  • FIC update on online scams
  • FSB warns public against 2 FSP companies
  • POPI warning: unlawful processing of information by MiWay
  • Saiba submission on Legal Practice Act (rules) to provide guidance for independent reviewers

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. 

Who should attend:

These updates are primarily aimed at accounting, auditing, and tax professionals but may also be of interest to all personnel in charge of HR in the firm, partners and directors who would like to update their knowledge, and all employees to ensure they understand their legal rights and responsibilities.

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
  • Pieter: Just a word of gratitude extended to your professionalism and humour on this webinar today, what a pleasure to listen to and you really updated us on all aspects to date.
  • Anzhela: Topical questions are presented  in clear and understandable manner, precise to topic with supporting material.
  • Sarah: The presentation is so detailed and well presented.
  • Simon: Course material and explanation by the presenter was very clear and to the point


Previous Recording

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