IFRS: 

• Standards – What’s new? 

  • IFRS - iFRS Monthly News Summary 

  • IASB - IASB and ISSB joint monthly meeting 

  • IASB - Update on IASB's Work Plan 

• Accounting issues 

  • JSE - Pro-active monitoring event 

  • IASB - Proposed amendments to IFRS 7, IAS 1 and IAS 32 - comment deadline 

  • IASB - Update on the extractive activities project published 

• Public sector 

  • ASB - GRAP 108 Post Implementation Review 

  • AG - Departmental 2023-24 AFS Specimen 

  • Technology 

  • IPSASB - 2024-2028 Strategy and Work Program Consultation 

IRBA: 

• Standards 

  • IRBA - Revisions to the Definitions of Listed Entity and Public Interest Entity 

  • IRBA - Board Adopts Narrow Scope Amendments to ISA 700 (Revised), and ISA 260 (Revised) 

• Legal and ethics 

  • IESBA - Proposed International Ethics Standards for Sustainability Assurance (IESSA) 

  • IESBA - Explanatory memorandum for the proposed IESSA  

  • IESBA - Exposure draft: Using the Work of an External Expert 

• Other 

  • ISACA - Six Benefits of a Cybersecurity Audit (and 6 Steps to Perform One) 

  • IRBA - The new IRBA rule for Enhanced Auditor Reporting 

CIPC: 

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

  • Notice 1 of 2024: Disparity of registration and incorporation dates 

  • Notice 2 of 2024: Filing of Director Amendment Applications 

  • Notice 3 of 2024: Deregistration of companies and CCs 

  • Notice 5 of 2024: Beneficial Ownership Enforcement 

  • Media Statement 1 of 2024: CIPC emphasises need for multi-factor authentication for director amendments 

Financial Intelligence Centre (FIC) 

• FIC Advisory & Guidance 

  • FIC Annual Report: FICA non-compliance statistics & trends 

  • Learnings from the 2022/2023 FIC Annual Report 

  • Draft sector risk assessment – Assessment of the inherent money laundering and terrorist financing risks for accountants 

  • Draft sector risk assessment for dealers in precious metals and stones 

  • Consequences of non-compliance with FICA for all accountable institutions 

  • Guide to identifying and reporting suspicious behaviours and transactions 

• Important issues 

  • Terrorist Financing: Prevention Guidelines issued for Banks 

  • FICA 2023 Round-Up: A Summary of Greylisting, New FICA Directives & Amendments 

  • FICA Documents needed to adequately perform Due Diligence 

  • The importance of continuous screening 

Sustainability & Integrated Reporting 

• IFRS Foundation - New resources on emissions reporting using GRI and ISSB Standards 

• IASB - Climate-related and Other Uncertainties in the Financial Statements 

• IAEW - Finance leaders highlight AI skills shortage 

• ISACA - Responsible AI Governance in Traditional and Emerging Ecosystems 

Labour Law: 

• Employment law: 

  • CCMA warning for businesses in South Africa – BusinessTech 

  • New laws for remote worker and critical skill visas in South Africa 

  • Days to take off in 2024 to get the most out of public holidays and paid leave – BusinessTech 

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

• Other acts and articles: 

  • Small Enterprise Amendment Bill: Revised Version available 

  • DoJ’s rescue plan for the Master’s Office 

SARS: 

• Guides (new, updated & issued): 

  • Customs: South African Traveller Management System – 3 Guides 

• Binding Rulings (Private/Class/General) issued:  

  • BPR 403 – Taxation of covered persons in respect of equity linked notes 

  • BPR 402 – Transfer of long-term insurance business to a local branch of a foreign reinsurer 

  • BPR 401 – Leasehold improvement allowance 

  • BPR 400 – Donations tax implications on the issue of shares at nominal value to enhance BBBEE credentials 

  • BGR 68 – Acceptable Documentation for Input Tax on Upward Adjustments on Imports 

  • Notices and other publications issued: 

    • 2023 Tax Amendment Acts gazetted 

    • Average Exchange Rates 

  • Taxpayers must be on the lookout for New Scams: 

    • Summons Notice via email 

  • High court case: 

    • Canyon resources 

• Also see Maitland & Associates Inc News Round Up - January 2024 distributed to attendees. 

Regulator news: 

• CIBA 

  • Accounting Weekly Newsletter  

  • CFO Talks 

  • Various guides are available to members in good standing 

• IRBA 

  • IRBA ends 2023 with a 30 percent reduction in backlog of investigations 

  • Notice of withdrawal and reissuance of Maximum Fines for Auditors guilty of improper conduct 

  • IRBA The how, where and what of Trade Mark registration for SMMEs in South Africa debunking common misconceptions – part 1 

• SAICA  

  • SAICA Code of Professional Conduct 

• Information Regulator 

  • Clampdown on direct marketing calls in SA starting this week 

• Companies Tribunal 

  • 15 Cases finalised in Dec 2023  

  • Bulletin Newsletter 

• Property Practitioners Regulatory Authority 

  • The property practitioners’ landscape: reminder of late submission penalties 

• CGSO 

  • Consumer Alert: eGadgets.co.za 

  • Newsletter 

  • Circular 6 of 2023 (Emolument attachments and other matters  

• OTO 

  • Annual Report 2022/2023 

  • Special edition Newsletter - Nov 2023 

• IFAC 

  • Plan to Revise International Education Standards for Sustainability Reporting and Assurance 

• SARS 

  • Latest VAT Connect Newsletter  

• FCSA publications  

  • eNewsletter 

  • FSCA Press Release - The FSCA welcomes Supreme Court of Appeal judgement against Fusion Guarantees (Pty) Ltd 

  • FSCA imposes an administrative penalty and debarment on Mr Jacobus Stephanus Geldenhuis (and Classic Financial Services has been liquidated) 

  • FSCA warns the public to be cautious of scams and fraudulent activities this festive season 

  • FSCA informs the public of an investigation into the business activities of BFG Engineering Brokers (Pty) Ltd 

  • Request for information from investors of BHI Trust 

  5 Warnings issued against fraudulent FSPs 

General Announcements / News Releases: 

• Media articles and other thoughts:  

  • Understanding Whistleblower Protection 

  • NHI means 31% more tax and 69% less benefits for medical scheme members 

  • CIPC again gives companies a new-year headache – Moneyweb 

  • Equality court orders FIC to hand over reports on KPMG and Steinhoff 

  Lawyers, estate agents may keep SA on grey list - Moneyweb