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), RA researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.
The webinar includes:
A reference guide of all changes to share within the firm;
PPT 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
Applying IFRS Standards in 2020 to reflect the impact of COVID-19
IRBA:
Standards:
IRBA approves 2 revised standards for adoption and issue:
IFAC’s IESBA Code – Instalment 11 The Role and Mindset of the Professional Accountant (issued 30 October 2020)
Remember to attend the webinars in this series to be held on:
27 Nov on instalments 7 & 8
1 Dec on instalments 9 & 10
15 Dec on instalments 11 & 12
CIPC:
Notices and Practice Notes issued (enforcement and to customers):
Notice 44 of 2020: New email addresses for applications relating to Co-ops amendments
Notice 46 of 2020: New e-services functionality: on-line Co-operative registration now available
Notice 49 of 2020: Recommencement of legal filing obligations
COVID-19 Updates
New announcements/guidance:
COVID-19: SAICA Educational Material – 13 sets of material
Labour Law:
Employment law:
Deemed if you do, deemed if you don’t! What is the difference between a TES (Temporary Employment Service) and an independent service provider/contractor?
Other Laws & Regulations affecting your client AND impact on NOCLAR:
This month’s big 5:
This covers new relevant National laws up to 26 October 2020:
The Disaster Management Act (Directions);
The Expropriation Bill 2020;
Local Government Municipal Finance Management Act (Supply chain management);
The National Environmental Management Act (Hazardous chemicals and pesticides); and
The South African Police Services Act (Draft Amendment Bill 2020)
Other acts and articles:
2 New Bills released for comments:
The Conduct of Financial Institutions (CoFI) Bill and
The Auditing Profession Amendment Bill
SARS:
Guides (new, updated & issued):
3 Updated guides now reflecting the HTML5 format of the forms and eFiling redesigned screens:
How to report suspected non-compliance to SARS
Guide to the Tax Compliance Status functionality on eFiling
Guide to the Complaints functionality on eFiling
Updated Guide to Bulk and Additional Payments on eFiling with new validation rules for bulk payments.
3 Updated guides relating to Tax Directives - The email addresses have been replaced with the new email address.
Guide to Complete the Tax Directive Application Forms
Completion Guide for IRP3a and IRP3s Form
Guide to Complete Submit and Cancel a Recognition of Transfer
Guide on the Taxation of Professional Sports Clubs and Players (Issue 2)
Notices and other publications issued:
Estates: A new Estates webpage was created for Deceased Estates, Insolvent Estates and Liquidation.
Enhancements to the Tax Directive functionality on eFiling
Bills issued:
The Minister of Finance introduced the following taxation Bills in the National Assembly on 28 October 2020:
Taxation Laws Amendment Bill [B27—2020]
Tax Administration Laws Amendment Bill [B28—2020]
Rates and Monetary Amounts and Amendment of Revenue Laws Bill [B26—2020]
10 High Tax court cases:
CSARS and Joint Liquidators of Greenbridge Group (Pty) Ltd (in Provisional Liquidation) v Van Zyl (16604/2019) [2020] ZAWCHC 109
CSARS v Sunflower Distributors CC and others (66077/2015) [2015] ZAGPPHC
CSARS v Executor of Estate Late Ndlovu (A395/2016) [2020] ZAGPPHC
CSARS v Zikhulise Cleaning and Maintenance and Transport Service (14886/16) [2020]; Mpisane v Zikhulise Cleaning and Maintenance and Transport CC and Another (18101/16) [2017] ZAGPPHC
Ackermans Limited v CSARS (16408-2013) [2015] ZAGPPHC 684
Zikhulise Auto Recoveries (Pty) Ltd and Others v Zikhulise Auto Restorers (Pty) Ltd and Others (SARS Intervening) (36492/2018) [2019] ZAGPJHC 531
Brits v CSARS and Another (70549-2015) [2019] ZAGPPHC 987
Zikhulise Cleaning Maintenance and Transport CC v CSARS (34564/2016) [2017] ZAGPPHC 1247
CSARS ('SARS') v Zikhulise Cleaning Maintenance and Transport CC; Mpisane v Zikhulise Cleaning Maintenance and Transport CC and Another (14886/2016; 18101/2016) [2017] ZAGPPHC 1248
Bennett and Another v The State (SARS funding prosecution) (SS 40/2006) [2020] ZAGPJHC
Taxpayers must be on the lookout for New Scams:
Payment notice
Test of the SARS emergency notification system
Regulator news:
IRBA News & press releases:
IRBA News Issue #51
SAICA press releases and other publications:
SAICA Guide: Engagement letter for tax services
Companies Tribunal:
14 Cases finalised
Companies Tribunal Bulletin Volume 2 of 2020
LPC:
Watch out for Audit Refund scam doing the rounds
CGSO:
Q3 Newsletter
FSCA publications & press releases:
FSCA fines Markus Jooste and others R241 million for insider trading breaches
FSCA conducts search operations at Mirror Trading International
3 Warnings issued against fraudulent FSPs
SARS:
SARS employee arrested in sting operation
SARS welcomes High Court judgment on taxpayer obligations
General Announcements / News Releases:
Media articles:
Managing an audit team remotely
Cybersecurity provides opportunities for auditors to serve
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.
Choose Individual if you would like to attend this event yourself or choose Company if you would like to share this event to with 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.
