Accounting: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

• Public Sector 

  • Proposed 2024/2025 MCS 

  • SCOA classification Circular 44 

Auditing: 

• Standards:  

  • IAASB: New 2022 Handbook 

• Legal/Ethics:  

  • 2023 IESBA Handbook now available 

  • IAASB new Listed PIE Standard re enhanced auditor reporting 

CIPC: 

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

  • Practice Note 4 of 2023: Filing of documents  

  • Notice: SARS non-compliance notices 

Anti-Money Laundering and FICA: 

• FIC Advisory & Guidance:  

  • Accurate Completion of Risk and Compliance Return + Sanction Notice 

  • Guidance for Legal Practitioners 

  • Guidance for Registering as an AI 

Sustainability & Integrated Reporting: 

• Important issues: 

  • IASB: to explore ways to improve reporting of climate-related and other uncertainties in the financial statements 

  • IAASB: ISSA 5000 Materiality FAQ 

Technology: 

• Important issues: 

  • Cybersecurity special report 

Labour Law: 

• Employment law: 

  • Persons with disabilities in the workplace: Code of Good Practice 

  • Any parent is entitled to four months parental leave, high court rules    

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

• This month’s big 5: 

  • SAICA Legal Update 2023: 

  1. The Cybercrimes Act: Standard operating procedures for investigation, search, access or seizure; 

  2. The Financial Intelligence Centre Act: Draft regulations; 

  3. The Public Service Act (Public service regulations);  

  4. The Public Service Commission Bill; and  

  5. The South African Schools Act: Basic Education Laws Amendment Bill. 

• Other acts and articles: 

  • SASSA Grant Increases for 2023 & 2024 

  • Masters Deceased Estate Online Registration System 

  • Chief Master Directive 8 of 2023: New Beneficial Ownership Register for Trust 

• COIDA Update: 

  • Confirmation of Life  

SARS: 

• Guides (new, updated & issued): 

  • Guide to Section 18A Approval of a Department in the National, Provincial and Local Sphere of Government 

  • Guide on the Taxation of Farming Operations 

  • VAT 409 – Guide for Fixed Property and Construction (Issue 7) 

  • Basic Guide to Section 18A Approval (Issue 5) 

• Operational Guides (new, updated & issued): 

  • Guide to submit a dispute via eFiling 

  • Guide to the Tax Compliance Status functionality on eFiling 

  • SARS Online Query System Guide 

  • Comprehensive Guide to the ITR12 Income Tax Return for Individuals 

• Interpretation Notes (updated & issued): 

  • Interpretation Note 112 (Issue 2) – Section 18A: Audit certificate 

  • Interpretation Note 24 (Issue 5) – Public benefit organisations: Partial taxation 

  • Interpretation Note 51 (Issue 6) – Pre-trade expenditure and losses 

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

  • Binding General Ruling 62 (Issue 2) – Value-added tax implications of securities lending arrangements 

  • Draft Binding General Ruling 16 (Issue 3) – Standard Turnover-based Method of Apportionment 

• Notices and other publications issued: 

  • Publication of Explanatory Summary of the Tax Administration Laws Amendment Bill, 2023 

  • Discussion paper on VAT Modernisation 

• Taxpayers must be on the lookout for New Scams: 

  • Tax Review 

  • Notice of Assessment 

• Tax court cases:    

  • Media release – SARS welcomes veil of secrecy judgment  

• Constitutional court cases: 

  • Media Release: Constitutional court decision on duty-free purchases 

  • Sasol Chevron Holdings Limited v CSARS (CCT 149/22) [2023] ZACC 30 (3 October 2023) 

• SCA cases: 

  • Media release: Court confirms that false returns may attract administrative penalties and criminal prosecution 

  • Silverback Technologies CC & Others v CSARS (301/2022) [2023] ZASCA 128 (09 October 2023) 

Regulator news: 

• IRBA News & press releases: 

  • News #63 

• SAICA press releases and other publications: 

  • SAICA: Comments on the 2023 Companies Amendment Bill 

  • Draft Mergers and Acquisitions Guide 

  • Updated Guide on Retention of Records 

  • AUP Regulatory report for Legal Practitioner Refund 

• CIBA press releases and other publications: 

  • Newsletters: 

    • CFO Talks (CFO Talks™ is devoted to sharing ideas and conversations between CFOs. It is a platform which facilitates insightful and powerful talks relevant to CFOs) 

    • Accounting Weekly (weekly newsletter) 

  • Various guides are available exclusively to members 

• CIPC:  

  • Learn-I-Biz 

• Companies Tribunal:  

  • 16 Cases finalised in Oct 2023  

  • Bulletin Newsletter 

• Information Regulator:  

  • Info Regulator to probe daring cyberattack on SSA 

  • New PAIA forms & website compliance for private bodies 

• CGSO:  

  • Newsletter 2nd Quarter 2023 

• LPFF:  

  • Requirements to conduct AUP on the Application of Refund of Bank Charges and Audit Fees - Transitional Period article  

• FSCA publications & press releases:  

  • FSCA statement on BHI Trust and Mr Craig Roy Warriner 

  • FSCA publishes its first Integrated Annual Report 

  • FSCA Clarification Statement on Salt Employee Benefits 

  • FSCA imposes administrative penalties on F A Allard and Sons Funeral Undertakers 

  • 3 Warnings issued against fraudulent FSPs 

• SARS:  

  • Latest SMME Traders Connect newsletter – Edition 2 

  • Latest SMME Connect newsletter – Edition 6 

  • Latest Tax Practitioner newsletter – Issue 47 

  • Latest Government Connect newsletter – Issue 14   

General Announcements / News Releases: 

• Media articles:  

  • Deloitte Auditors Got Caught Changing Their Computer Clocks to Backdate Workpapers