IFRS: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

  • IFRS for SME’s exposure draft 

  • IFRS Foundation Work Plan update 

• Accounting issues 

  • IFRS - IASB issues narrow-scope amendments to requirements for sale and leaseback transactions 

  • ED 405 - Proposed revisions to the Headline Earnings Circular September 2022 

  • Financial Reporting Analytics - 5 Use Cases for CFOs  

• Public Sector 

  • Office of the AG - Latest publications 

  • National Treasury - Tabling of annual reports, AFS and audit reports 

  • Improvements to Standards of GRAP 2020 soon to be effective – ASB 

• Sustainability Reporting 

  • IFRS - ISSB Consultation on Agenda Priorities 

  • Is sustainability a burden or an opportunity for CPAs 

IRBA: 

• Standards:  

  • IAASB - Overview of the latest communications  

  • FAQs on ISRS 4400 Agreed Upon Procedures  

  • ICAEW - Quality management - ISQM 1 in practice  

• Legal/Ethics:  

  • Auditing Profession Act -  Maximum monetary fines  

  • IFAC - IESBA Sustainability Questionnaire 

• Other: 

  • IRBA Staff Audit Practice Alert 7 - Content of a Transparency Report 

  • 2022 Trust Account Audit Report Template Changes - Property Practitioners Regulatory Authority 

  • Body Corporates Auditor Reports  

  • PCAOB Inspections Reports 

  • IOSCO encourages standard-setters’ work on assurance of sustainability-related corporate reporting 

  • Digital Transformation & Innovation in Auditing -  Insights from a Review of Academic Research  (IFAC) 

CIPC: 

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

  • List of accredited bodies whose members are eligible as business rescue practitioners as from 22 September 2022  

  • Foreign assurance - relates to location of records 

Labour Law: 

• Employment law: 

  • Employment Equity Amendment Act 

  • Institutional Sector Classification Guide 2022 

  • A critical analysis of the BBBEE Commission in adjudicating fronting cases 

  • Compensation for Occupational Injuries and Diseases Act - Increase in monthly pensions and Amendment of Schedule 4 -Manner of Calculating Compensation 

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

• This month’s big 5: 

  • The latest SAICA Legal Update has been released and it covers relevant national laws up to 2 September 2022: 

    1. The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill  

    2. The Competition Act: Draft block exemption regulations for small, micro and medium sized businesses  

    3. Special Investigating Units and Special Tribunals Act: National Student Financial Aid Scheme  

    4. Superior Courts Act: Intermediaries 

    5. The Draft Unlawful Entry on Premises Bill 

  • The latest SAICA Legal Update has been released and it covers relevant national laws up to 16 September 2022: 

    1. The Auditing Profession Act: Financial Matters Amendment Bill 2022  

    2. The Border Management Authority Act: Transfer of powers from other laws 

    3. The Municipal Fiscal Powers and Functions Act: Amendment Bill 2022 

    4. The National Environmental Management Biodiversity Act: Draft game meat strategy 

    5. The Traditional Courts Bill 

Other acts and articles: 

• Financial Intelligence Centre Act: General laws  

• Draft of Unlawful Entry of Intruders Bill  

• The new certificate businesses in South Africa need to know about – or risk facing a R5 million fine and jailtime 

• Companies Act: General Laws (Anti-money Laundering and Combatting Terrorism Financing) Amendment Bill  

• Competition Act: Draft block exemption regulations for small, micro and medium sized businesses  

• Draft Extradition Bill   

• Financial Sector Regulation Act: Ownership 

• Labour Relations Act: Protest action to promote or defend socio-economic interests of workers  

• Non-profit Organisations Act: General Laws (Anti-money Laundering and Combatting Terrorism Financing) Amendment Bill  

• Trust Property Control Act: General Laws (Anti-money Laundering and Combating Terrorism Financing) Amendment Bill The General Laws (Anti-money Laundering and Combatting Terrorism Financing) Amendment Bill 

• National Health Act: Notifiable conditions 

• Non-profit Organisations Act: Draft Amendment Bill 2021  

SARS: 

• Refer to August and September 2022 Maitland and Associates Tax Newsletter distributed to attendees.  

Regulator news: 

• SAIBA 

  • SAIBA's submission to the Dept of Trade Industry and Competition on PIS.  

  • SAIBA's response to SARS proposal to replace telephonic services. 

  • Accounting Weekly Newsletter  

  • CFO Talks 

• CGSO (Consumer Regulator) 

  • Gareth Ackerman Saya Business Sector has to step up to help solve Country’s economic infrastructure problems 

• Competitions Commission 

  • Price fixing and collusion under the Competition Act 

• FIC Advisory & Guidance 

  • New AML Bill for comment 

• Companies Tribunal 

  • Name disputes (7 granted 2 refused) 

  • Director disputes (1 granted) 

  • Exemptions (1 refused) 

• National Credit Regulator 

  • Media release Stats: September 2022 

• Information Regulator 

  • PAIA Forms released  

• FSCA publications and press releases 

  • FSCA Communication 28 of 2022 (INS) 

  • SARB Joint Communication 2 of 2022 - Joint Discussion Document 

  • SARB Prudential Authority Proposed Directive-Proposed amendments to the Regulations 

  • SARB Full Quarterly Bulletin – No 305 – September 2022 

General Announcements / News Releases: 

• Media articles and other thoughts:  

  • Constitutional Court declares provisions of Copyright Act unconstitutional 

  • Control of Tobacco Products Bill heading for Parliament 

  • Formation of valid and enforceable contracts in South Africa 

  • Protect yourself from cyber scammers with these 10 tips 

  • The next normal: What does the office look like? 

  • Unanswered summons - Default judgment is your next step 

  • Uniform Rule 42(1)(b) - Ambiguities, errors and omissions in judgments