Monthly Compliance and Legislation Update - January


Date: Jan 29, 2025 - Jan 29, 2025

CPD hours: 2 Hours

Time: 10:00 - 12:00

Event Type: Webinar

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

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 Lettie Janse van Vuuren CA(SA) 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. 


Content  

These are examples of the topics covered that will include legislative, regulatory, industry standards, items and guides that have been issued and/or updated during the preceding month and will be covered in the webinar:  

 

Accounting (IFRS, etc) 

  • Standards – What’s new? 

    • IFRS Monthly news summary 

  • Accounting issues 

    • December 2024 IASB meeting 

    • IFRS: Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook 

  • Public Sector 

    • IPSASB: 2024 Handbook of International Public Sector Accounting Pronouncements 

    • IPSASB: 2 Pronouncements on Mineral Resources: IPSAS 50 + IPSAS 12 Amendments  

    • IPSASB: IFRIC Alignment – Narrow Scope Amendments 

Auditing (IRBA, IAASB, etc): 

  • Standards:  

    • IRBA: IAASB Handbooks adopted 

  • Legal/Ethics:  

    • Final Pronouncement: Revisions to the IRBA Code of Professional Conduct for Registered Auditors Addressing Tax Planning and Related Services 

  • Other:  

    • SAICA FAQs on the application of the ISAs on matters arising from monitoring findings and other in-practice challenges 

    • ASA: Are you ready for the new IRBA Rules? 

    • Interesting article: Building a Better Auditor: The Risk of Overcontrol 

CIPC: 

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

    • Media release: CIPC to deregister over 500 000 companies for non-compliance   

Anti-Money Laundering and FICA 

  • FIC Advisory & Guidance:  

    • Draft GLAB 2024 

    • Updated draft PCC 23A: Guidance on the interpretation of credit providers 

  • Important issues: 

    • EU Anti-Money Laundering Regulation: Factsheet 

Sustainability & Integrated Reporting 

  • Important issues: 

    • IFRS: 2024 Progress Report on Corporate Climate-related disclosures 

    • December 2024 ISSB Update 

Technology 

  • Important issues: 

    • None – All articles already included in Dec 2024 MCLU 

Labour Law: 

  • Employment law: 

    • Reminder: EE Act amendments are effective 

    • Reminder: EE reports deadline now closed 

    • CDH: Guide on Employment Equity Act Amendments 

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

  • Other acts and articles: 

    • Fast food chain slapped with R1m fine for contravening CPA 

    • Companies Amendment Acts finally gazetted 

    • Reminder: New electricity laws for SA from 1 Jan 2025 

  • COIDA Update: 

    • DoEL: Final Reminder for submission of ROE  

SARS: 

  • Guides (new, updated & issued): 

    • NEW! Tax Exempt Institutions – Guide to Complete the EI1 Application Form 

    • Updated Guide to SARS Mobile Tax Services 

    • Updated Comprehensive Guide to the Income Tax return for Trusts 

  • Notices and other publications issued: 

    • SAICA Updated Tax Guidance: Zero-rated exports 

    • Average Exchange Rates 

    • Notice of registration (IT150) now issued on WhatsApp 

    • SARS AI Assistant allows taxpayers to interact online with SARS 24/7 

    • Tax Exempt Institutions: How to apply for Public Benefit Status 

    • Global Minimum Tax Acts Gazetted  

  • Taxpayers must be on the lookout for New Scams: 

    • Spaza shop scam 

  • Tax court cases: 

    • SARSTC IT 46204 & VAT 22494 (IT & VAT) [2024] ZATC PTA (6 November 2024) 

    • SARSTC VAT 22425 (VAT) [2024] ZATC JHB (6 August 2024) 

    • SARSTC IT 45673 (IT) [2024] ZATC PTA (17 July 2024) 

    • SARSTC IT 52/2023 [2024] ZATC CPT (2 December 2024) 

Regulator news: 

  • IRBA News & press releases: 

    • IRBA News #68 

  • SAICA press releases and other publications: 

    • CPD Compliance Declaration 

    • Update on Annual Declarations: due dates amended 

    • Financial Services Newsletter December 2024 

    • 2025 Training Regulations  

    • 2025 Training Contract & Visit fees 

    • Committee meeting dates and submission deadlines 

  • CIBA press releases and other publications: 

    • Newsletters 

    • Various guides are available exclusively to members 

  • FIC:  

    • Sanctions and enforcement 2024 

  • Companies Tribunal:  

    • 11 Cases finalised in Dec 2024  

  • Information Regulator:  

    • Direct marketing Guidance Note issued 

  • FSCA publications & press releases:  

    • FSCA takes regulatory action against Mr. Ashley Mmachewe Mphaka 

    • FSCA finalises its investigation in respect of United African Stokvel Pty Ltd, Mr Darren Langbein and Mrs Shirley Langbein 

    • Update on Crypto Asset Service Providers 

    • FSCA imposes administrative sanctions on Prime Collective Investment Scheme Management Company 

    • Quarterly Newsletter 

      • 7 Warnings issued against fraudulent FSPs 

  • CGSO:  

    • Newsletter - Q4 Final Newsletter 

  • OTO:  

    • Newsletter - Fair Play Issue 35 

  • SARB:  

    • Directive 2 of 2024 re issuing of electronic funds transfer credit payment instructions on behalf of the payer in the national payment system 

  • merSETA:  

    • Discretionary Grant 1st Funding Window for 2025/26 

  • IFAC:  

    • Survey Report: Public Trust in Tax 2024 

  • SARS:  

    • Tax Exempt Institutions: Special edition Connect Newsletter   

General Announcements / News Releases: 

  • Media articles:  

    • How the SRD grant system has been defrauded 

    • How to handle harassment over prescribed debt 


Obtaining your CPD certificate   

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAIBA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.   


Who should attend? 

  • Accountants in practice: CA(SA), Professional Accountant (SA), BAP(SA), ACCA, CIMA, IAC, AGA(SA), and FCCA.  

  • Registered auditors, RA. 

  • Company secretaries. 

  • Legal advisors. 

  • Compliance officers. 


Price:                     

  • Individual Booking: R380.00  

  • Company Booking: 

    • Group Price 1 - From R284 per person (up to 5 users)   

    • Group Price 2 - From R220 per person (up to 10 users)   

    • Group Price 3 - From R189 per person (over 11 users) 

     

This webinar is available as part of a monthly or annual subscription plan, click here for more information. 


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. 

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