Compliance and Legislation Update - May 2019


Date: May 22, 2019 - May 22, 2019

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.

Overview

Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.

Technical expert Lettie Janse van Vuuren CA(SA), RA researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.

The webinar includes:

  • A reference guide of all changes to share within the firm;
  • Slide presentation summary of all new amendments;
  • Interactive session with the presenter; and
  • Online Q&A.

Learning objectives 

After attending this webinar you will:

  • Be aware of the latest legislative changes and what it means for your business, practice, and your clients;
  • Be able to inform your staff and clients on how to stay compliant;
  • Adapt business models to fit new legislative landscapes;
  • Receive references to documents and guides; 
  • Have access to your own technical resource; and 
  • Have access to the presenter via email for follow-up Q & A.

Content 

SARS:

  • Guides (updated & issued):
    • None
  • Interpretation Notes (updated & issued):
    • None
  • Binding Rulings (Private/Class/General) issued and updated:
    • None
  • Notices and other publications issued:
    • None
  • Tax cases:
    • None

IFRS:

  • Standards – What’s new?
    • IFRS Monthly news summary

IRBA:

  • Standards:
    • ED Proposed Revisions to Part 4B of the Code to Reflect Terms and Concepts Used in ISAE 3000 (Revised) released for comments by 26 June 2019
  • Legal/Ethics:
    • None
  • Guidance:
    • AGSA Circular 1/2019, Guidelines on fees for audits done on behalf of the Auditor-General South Africa (AGSA) has been issued
    • Proposed Revised Guide for Registered Auditors: Auditing in the Public Sector released for comment by 7 June 2019

CIPC:

  • Notices and Practice Notes issued (enforcement and to customers):
    • 3 notices issued re Co-operatives
  • Guidance issued:
    • None
  • Companies Tribunal:
    • 7 Decision reached on cases heard (6 Name Disputes and 1 AGM)

Labour Law:

  • Employment law:
    • Do South Africans have to answer work calls and emails after hours?
    • CCMA receives over 6 000 wage disputes in 4 months

Other Laws & Regulations affecting your client AND impact on NOCLAR:

  • This month’s big 5:
    • The Broad-based Black Economic Empowerment Act (Draft Chartered Accountancy Sector Code);
    • The Financial Intelligence Centre Act (Financial sanctions and Directive 5);
    • The Financial Matters Amendment Bill (Version B);
    • The Legal Practice Act (Code of Conduct); and
    • The Tourism Act (Draft Tourism Amendment Bill).
  • Other Acts include:
    • The Draft Central Application Service Bill;
    • The Co-operatives Act (Regulations and Principles);
    • The National Heritage Resources Act (List of Types of Heritage Objects);
    • The Public Administration Act (Commencement); and
    • The Special Investigating Units and Special Tribunals Act (Investigations).

Regulator news:

  • IRBA News & press releases:
    • IRBA Newsletter
    • 17% of JSE-listed companies have rotated auditors ahead of MAFR
  • SAICA Guidance & other publications:
    • Top tips for SMPs (Small and Medium Practices)
    • SAICA Quarterly SMP Newsletter
    • 2019 Training Regulations
  • Competition Tribunal:
    • None
  • Companies Tribunal:
    • None
  • SAIBA:
    • SAIBA participated in 2019 elections as observers - AUP reports issued by SAIBA members
  • FIC Advisory & Guidance:
    • 2 General notices issued
    • SA Implements targeted financial sanctions (including the release of the Targeted Financial Sanctions List)
    • Money Laundering and Terror financing under spotlight with SA review
  • EAAB:
    • None
  • National Credit Regulator:
    • None
  • CGSO & National Consumer Commission:
    • Ombudsman names and shames companies that you should think twice before buying from
  • Tax Ombud:
    • Quarterly Newsletter
  • SARS media releases:
    • None
  • FSCA publications & press releases:
    • FSCA fines 3 companies with large administrative fines for various contraventions
    • FSCA’s update on the Steinhoff Investigation
    • FSCA responds to Public Protector’s report
    • 4 Warnings issued to the public against fraudulent FSPs

General Announcements / News Releases:

  • Media articles:
    • Yes, SARS can make you pay for your own audit!
    • Vodacom to tackle the Competition Commission's ruling on data

Obtaining your CPD certificate


This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
All webinar attendees are issued with a CPD certificate available in an online profile. 


Who should attend

  • Accountants in Practice: CA(SA), PA(SA), BAP(SA), ACCA, CIMA, IAC, AGA(SA), CIS, ICBA. 
  • Practicing auditors, RA
  • Company secretaries
  • Legal advisors
  • Compliance officers

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 broadcast this event to your entire firm.
  • This webinar is free if you are already an SAAA CPD subscriber.
    • 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.

Previous Recording

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