Monthly Compliance and Legislation Update - October 2022


Date: Oct 20, 2022 - Oct 20, 2022

CPD hours: 2 Hours

Time: 09:00 - 11:00

Event Type: Webinar

Presenter: Caryn Maitland CA(SA)
Owner, Maitland & Associates

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 Caryn Maitland 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. 


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 

    • 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 

 

 


 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), CIS, ICBA.  

  • Practicing auditors, RA 

  • Company secretaries 

  • Legal advisors 

  • Compliance officers 

 


 Price:  

  • Individual Booking R380                  

  • Company Booking: 

    • R699.00 - Group Price 1 (Maximum of 5 attendees). 

    • R1 350.00 - Group Price 2 (Maximum of 10 attendees) 

    • R1 950.00 - Group Price 3 (Maximum of 15 attendees) 

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

  • 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. 

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Venues & Dates

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