Monthly Compliance and Legislation Update - February


Date: Feb 26, 2021 - Feb 26, 2021

CPD hours: 2 Hours

Time: 09:00 - 11:00

Event Type: Webinar

Presenter: Caryn Maitland
Owner, Maitland & Associates

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

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 Caryn Maitland CA(SA), RA researches and summarises all relevant and important changes which she then presents 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.

Course content  

The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar: 

IFRS: 

  • Standards – What’s new? 

    • IFRS Monthly news summary 

  • Accounting issues 

    • COVID-19 Related Rent Concessions beyond 30 June 2021 (ED and request for comments 25 Feb 2021) 

    • Lease Liability in Sale and Leaseback (ED and request for comments 29 Mar 2021) 

    • Costs Necessary to Sell Inventory (IASB tentative agenda item) 

    • Preparation of financial statements no longer a going concern (IASB tentative agenda item) 

    • IFRS 10 Consolidated financial statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities (RFI) 

    • ED Regulatory Assets and Regulatory Liabilities  

IRBA: 

  • Legal/Ethics:  

    • IESBA Proposes Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code and implications for South Africa 

    • IRBA Releases its 2020 Public Inspections Report which Shows Continued Quality Deficiencies and Inconsistencies at Audit Firms 

  • Other:  

    • The firm assurance work declaration and firm related information are now available for submission on the IRBA website. (1 Feb 2021) 

    • Media reports – Minister of Finance dissolved IRBA Board of Directors  

CIPC: 

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

    • Notice 8 of 2021: New Automated Processes 

    • Notice 7 of 2021: Requirement for letter of no objection 

    • Notice 4 of 2021: Disparity of Registration Numbers and Incorporation Dates 

COVID-19 Updates 

  • New announcements/guidance: 

    • SONA – TERS and Social Grant extended 

Labour Law: 

  • Employment law: 

    • Legal Practice Act (Misconduct)  

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

  • This month’s big 5: 

    • Issue 6 covers new relevant National laws up to 5 February 2021: 

      • The Disaster Management Act (Regulations and Directions) 

      • The Income Tax Act (Taxation Laws Amendment Act) 

      • The Tax Administration Act (Tax Administration Laws Amendment Act) 

      • The Tourism Act (Draft Safety Norms and Standards) 

  • Other acts and articles: 

    • The Insurance Act (Contingent Business Insurance)  

    • National Small Enterprises Act (Draft Amendment Bill 2020) 

    • Draft Preservation and Development of Agricultural Land Bill  

    • Animals Protection Act (Amendment Bill 2021)  

    • Regulation of Interception of Communications and Provision of Communication-related Information Act  

SARS: 

  • Refer to January and February 2021 Maitland and Associates Tax Newsletter distributed.  

Regulator news: 

  • Competitions Act 

    • Guidelines for competition in the SA automative aftermarket industry available 

  • FSCA publications & press releases 

    • Financial Advisory and Intermediary Services Act (General code of conduct)  

General Announcements / News Releases: 

  • Media articles:  

    • 5 years for audit firms  

    • How Can The Audit Profession Find Its Way Back To Noble Leadership? 

 


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.

Save this event to your Google or Outlook calendar.


Venues & Dates

The following venues and dates are available for this event.


Discounts available

The following discounts are available for this event

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