IFRS: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

• Accounting issues: 

  • JSE: Amendments to 3 sets of rules 

  • Public Sector: Update to Specimen AFS for Departments published - Feb 2023 

  • SAICA: Template: Body Corporate – Illustrative Financial Statements 

  • Monthly news summary 

IRBA: 

• Standards:  

  • LCE Group Audits (ED: Part 10 re Audits of Group Financial Statements of the Proposed ISA for Financial Statements of Less Complex Entities) 

  • IRBA: Adoption of the IAASB's 2021 Handbooks of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements 

• Legal/Ethics:  

  • IESBA Strengthens and Clarifies Independence Requirements for Group Audits 

  • IESBA: Proposed revisions to the Code addressing tax planning and related services 

• Other:  

  • Artificial Intelligence Audit Risks Mitigation 

  • IAASB: New Technology-Focused FAQ (w.r.t. materiality) 

CIPC: 

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

  • Submission of AFS by Co-operatives 

  • iXBRL: IFRS Compliant AFS - Deprecation of 2016 & 2019 Taxonomy Entry Points on 1 July 2023  

  • General Beneficial Ownership Notice 

Sustainability 

• Important changes: 

  • ISSB made a decision on the effective date of its standards 

Labour Law 

• Employment law: 

  • Managing SARS-CoV-2 Exposure in the Workplace: Correction Notice 

  • National Minimum Wage Act: National minimum wage 

  • BCEA: Determination: Earnings threshold 

  • Regulations issued in terms of the Disaster Management Act: The potential impact on the workplace? 

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

• This month's big 5: 

  • SAICA Legal Update 2023 Volume 18 Issue 3 covers new relevant National laws up to 17 February 2023: 

  1. The Competition Act (Fresh produce sector market inquiry) 

  2. The Competition Act (Online intermediation platforms market inquiry) 

  3. The Disaster Management Act (National state of disaster declaration) 

  4. The National Environmental Management Biodiversity Act (Threatened or protected terrestrial and freshwater species) 

  5. The Special Investigating Units and Special Tribunals Act (Former Department of Agriculture, Forestry and Fisheries). 

• Other acts and articles: 

  •  OHSA: New major hazard installation regulations in force 

• COIDA update: 

  • Maximum earnings and minimum assessments 

  • Opening of 2022 ROE Season 

  • ROE Online System temporary shutdown alert 

SARS: 

• Guides (new, updated & issued): 

  • Guide for Employers in respect of allowances  

• Interpretation Notes (updated & issued): 

  • Interpretation Note 10 (Issue 4) – Skills development levy exemption: Public benefit organisations 

  • Interpretation Note 18 (Issue 5) – Rebate and deduction for foreign taxes on income 

  • Interpretation Note 126 – Extraordinary dividends treated as income or proceeds on the disposal of certain shares 

• Notices and other publications: 

  • New SARS rate per km & subsistence amounts 

  • Input tax on motor cars 

  • Deduction of donations: Further information that must be contained in a receipt issued in terms of section 18A(2)(a) of the Act 

  • Income Tax Act: Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill 2023 

  • Income Tax Act: Taxation Laws Amendment Act 2022 

  • New Sars Dispute Rules 

  • Solar Panel Tax Incentives for Individuals & Companies TSV & ad-hoc to be done by Lettie 

  • 2023 Budget Summary (including pocket guide) 

  • International AG v CSARS (34490/2021) [2022] ZAGPPHC (7 December 2022) 

• Taxpayers must be on the lookout for new scams: 

  • Office return scam 

Regulator news: 

• IRBA News & press releases: 

  • Firm assurance work declaration and firm related information 2023 

• SAICA press releases and other publications: 

  • SAICA FIC Act Summary 

  • SAICA summary of the General Laws Amendment Act, 22 of 2022 

  • CA(SA) Declaration on Compilation of AFS 

  • Budget 2023 Summary: Post Budget Commentary and Analysis 

  • SAICA Code of Professional Conduct, 2022 Edition 

  • Revisions to the Definitions of Listed Entity and Public Interest Entity in the SAICA Code 

  • SAICA submission on Trust Property Control Act Draft Regulations 

• SAIBA press releases and other publications: 

  • CFO Talks - https://cfotalks.com 

  • Accounting Weekly - https://accountingweekly.com/  

• Companies Tribunal:  

  • 5 cases finalised  

• Information Regulator:  

  • Call for input on draft rules of procedure for POPIA complaints 

• LPPF:  

  • DoJ: R5m is now the maximum amount per claim to be reimbursed by the Legal Practitioners' Fidelity Fund 

• FSCA publications & press releases:  

  • FSCA Press Release - The FSCA debarred Mr Keenan Ebden (Ebden) and imposed an administrative penalty on Ebden for contravening financial sector laws 20 Feb 2023 

  • FSCA Press Release - The FSCA affirms tougher stance to combat money laundering and terrorist financing 24 Feb 2023 

  • FSCA Press - FSCA warns the public against a fraudulent e-mail purporting to be from the FSCA 20 February 2023 

  • FSCA Press Release - FSCA cancels the exchange licence of ZAR X (Pty) Ltd 13 February 2023 

  • FSCA Press Release - Update on the statutory management of N-e-FG Administrators (Pty) Ltd 10 February 2023 

  • 7 Warnings issued against fraudulent FSPs 

• SARS Newsletters:  

  • Latest Government Connect Issue 8 newsletter   

General Announcements / News Releases: 

• Media articles:  

  • PayShap launches