IFRS: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

  • Feedback from the IFRS Advisory Council meeting 

• Accounting issues 

  • Accounting for cryptos - still a talking point! 

• Sustainability Reporting 

  • IFRS: ‘MOU with the Global Reporting Foundation’ 

IRBA: 

• Standards:  

  • ISA 220 (Revised) - definition of an engagement team fact sheet 

• Legal/Ethics:  

  • IESBA Expands the Definition of Public Interest Entities and the Implications for South Africa 

  • Report on IESBA’s accomplishments – Elevating Ethics and Independence Standards in a complex world 

• Other: 

  • Report: IRBA issues Conforming and Consequential Amendments to the Other International Standards 

  • IAASB LCE Conference takeaways 

  • Audit Quality Indicators (AQIs): a global overview of initiative - factsheet 

  •  ESG governance: recommendations for audit committees 

CIPC: 

• Notices and Practice Notes issued (Enforcement and to customers): 

  • Admin Independent Review Practice Note 3 of 2022 

  • CIPC Notice 13 of 2022 - CIPC link with DHA has been restored 

• Articles: 

  • SAICA: FAQs for members and associates relating to the Companies Act 

Labour Law: 

• Employment law: 

  • Interim suspension of UIF Compliance Certificate requirement for doing business with government, SOEs etc.  

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

• This month’s big 5: 

  • The latest SAICA Legal Update has been released and it covers relevant national laws up to 30 May 2022: 

    1. The Civil Aviation Act: Amendment Act 2021 

    2. The Electronic Communications Act: End-users and subscriber service charter 

    3. The Financial Sector Regulation Act: Introductory commissions 

    4. The Long-term Insurance Act and Short-term Insurance Act: Demarcation regulations benefit escalations 

    5. The Occupational Health and Safety Act: Commercial diving regulations 2022. 

Other acts and articles: 

• Amendments to the JSE Listings Requirements 

• Financial Sector Regulation Act: Introductory commissions Information request 4 of 2022 

• Draft Magistrates Bill 

• National Health Act: Notifiable conditions 

• Non-profit Organisations Act: Draft Amendment Bill 2021  

SARS: 

• Refer to April and May 2022 Maitland and Associates Tax Newsletter distributed to attendees.  

Regulator news: 

• SAIBA 

  • Accounting Weekly Newsletter  

  • CFO Talks 

• CGSO (Consumer Regulator) 

  • 1st Quarter Newsletter (April to June 2022) 

• Competitions Commission 

  • CompuTicket agrees to pay R11.3M as a second fine for alleged abuse of dominance 

  • Commission meets with airlines 

  • Commissions Decisions from May 2022 

• FIC Advisory & Guidance 

  • FIC Warms of Scam notices using its name 

• Companies Tribunal 

  • Name disputes (3 granted 1 refused) 

  • Director disputes (2 granted 2 refused) 

  • Exemptions (2 granted) 

  • AGM (1 granted) 

  • Other matters dismissed 

• Property Practitioners Board 

  • Extension of deadline to submit financials (4 months to 6 months) 

• SARS 

  • Change in Tax Practitioner CPD requirements 

• LPC:  

  • LPC welcomes Ombud 

• SAICA 

  • Protection of Personal Information Act (POPIA) guide released 

  • Fact Sheet 1 – Overview of the 8 conditions of the POPI Act 

  • Fact Sheet 2 – Understanding Data Subjects Rights 

  • Fact Sheet 3 – Direct marketing: staying on the right side of the law 

  • Fact Sheet 4 – Basic security information checklist for small low risk owners  

General Announcements / News Releases: 

• Media articles and other thoughts:  

  • Debt management - When does the clock for prescription start?