Slide 2

Accounting News

Anti-fraud leaflet

SARS has published an Anti-fraud leaflet to assist taxpayers in protecting their tax profile from fr...


Read More

2022 Tax Debt Management Guide

SAICA has published their 2022 Tax Debt Management Guide, which includes the various provisions in t...


Read More

GRAP 19 accounting manual/guideline upda...

The Office of the Accounting-General in the Department of National Treasury has published an update...


Read More

Direct Marketing: info and tips

The Consumer Goods & Services Ombud (CGSO) has published some interesting facts that both suppliers...


Read More

Trade Mark Certificates

CIPC has issued a Practice Note stating that all trade mark related certificates will be issued elec...


Read More

NEW! Revised standard for group audits

The IAASB have published the Revised standard for group audits, which includes new and revised requi...


Read More

Final Pronouncement: Revisions to the De...

The IESBA released the Final Pronouncement: Revisions to the Definitions of Listed Entity and Public...


Read More

CIPC: Status update on file transition p...

CIPC confirmed that even though the move of files to the new storage facility was complete, delays w...


Read More

Educational material on the application...

SAICA has published educational material on the application of IAS 12 – Income Taxes and IFRS for SM...


Read More

GRAP Tool on GRAP 13

National Treasury has published GRAP tool on GRAP 13: Leases.


Read More

GRAP Accounting and Disclosure Checklist...

National Treasury has published the 2022 GRAP Accounting and Disclosure/Compliance Checklist.


Read More

Accounting Guideline on GRAP 1

The Office of the Accounting-General in the Department of National Treasury has published Accounting...


Read More

Modified Cash Standard FAQs

National Treasury has published Annual Financial Statements 2021/2022 FAQs on Modified Cash Standard...


Read More

Legal compliance considerations in a vir...

SAICA has released FAQs (Frequently Asked Questions) on Legal compliance considerations in a virtual...


Read More

Updated Guide on Retention of Records

The updated SAICA Retention of records guide has been released.


Read More

Anti-fraud collaboration webpage

Audit committees and external auditors can find resources on deterring and detecting fraud by visiti...


Read More

Property Practitioners: Guidelines on Au...

The Property Practitioners Regulatory Authority invites inputs and comments on the draft Guidelines...


Read More

Anti-Money Laundering: new Installment 8...

IFAC released a new installment in the Anti-Money Laundering: The Basics educational series: Install...


Read More

Four skills internal auditors should dev...

The Institute of Internal Auditors have published an article that takes a look at 4 skills internal...


Read More

Identifying and mitigating bias and mis-...

IFAC released the 3rd publication in a 4-part thought-leadership series examining the impact of rapi...


Read More

New IFAC Digital platform assists public...

IFAC launched a new digital platform, Pathways to Accrual


Read More

Anti-Money Laundering: new Installment 7...

IFAC released a new installment in the Anti-Money Laundering: The Basics educational series: Install...


Read More

Independence expectations in Group Audit...

IESBA released the Exposure Draft: Proposed Revisions to the Code Relating to the Definition of Enga...


Read More

Summary Update on Covid19 TERS and UIF p...

The Department of Labour provided an Update on Covid-19 TERS and normal UIF benefit payments in Limp...


Read More

IFAC_Time for action on sustainability

IFAC has published an explanatory document that states that it is time for action on sustainability,...


Read More

CPA Guidelines for calculating cancellat...

The CGSO has published the 2nd Part of information that provides guidelines for calculating cancella...


Read More

Quality Management: Focus area

The IAASB have created a dedicated webpage with all their resources that relate to the new and revis...


Read More

Proposed Technology-related enhancements...

IESBA has issued an Exposure Draft on Proposed Technology-related Revisions to the Code.


Read More

Name Reservation and Approval

CIPC confirms that a for-profit company may be registered without a name.


Read More

New International Public Sector Accounti...

International Public Sector Accounting Standards (IPSAS) 43 on Leases was approved and will replace...


Read More

New platform available to access Interna...

IFAC has launched their handy new platform available to access International Standards.


Read More

Updated proposed on Conceptual Framework...

The ASB issued ED 197 on proposed Conceptual Framework Update: Chapter 3, Qualitative Characteristic...


Read More

Reminder: Co-operatives to submit financ...

Remember that Co-operatives have to submit financial statements via XBRL from 1 April 2022.


Read More

SAICA: Updated FAQs on application of th...

SAICA has updated the previously published FAQs on application of the ISAs on matters arising from m...


Read More

Consumer Goods and Services Ombud (CGSO)...

The Consumer Goods and Services Ombud (CGSO) has announced that all eligible suppliers of consumer g...


Read More

Certification requirements for documents...

CIPC has issued a Practice Note to confirm the Certification requirements for documents filed with t...


Read More

Consumer Goods and Services Ombud (CGSO)...

The Consumer Goods and Services Ombud (CGSO) has issued a warning to all consumers against Online at...


Read More

Consumer Goods and Services Ombud (CGSO)...

The CGSO has published the 1st Part of information that clarifies the confusion about the rights and...


Read More

FAQs on Revised Fee-related Provisions o...

The Staff of the International Ethics Standards Board for Accountants (IESBA) released a set of freq...


Read More

Reminder: The new AUP standard is now ef...

The Revised ISRS 4400 is now effective for Agreed-Upon Procedures engagements for which the terms of...


Read More

Body Corporate Template AFS 2021

SAICA has issued the draft IFRS for SMEs Illustrative Financial Statements for Body Corporates.


Read More

How to account for Inventory write-offs...

SAICA has published educational material on presentation of inventory write-offs and costs as a resu...


Read More

2022 MTEF Guidelines for Public Entities

National Treasury has issued Public Entities MTEF (Medium Term Exposure Framework) guidelines for co...


Read More

NEW! SAICA 2022 Training Regulations

SAICA has published the new 2022 Training Regulations, which become effective on 1 January 2022.


Read More

CIPC: Appointing and resignation of audi...

CIPC have announced that only the current directors and/or the current company secretary of the comp...


Read More

Important SAICA Deadline!

As per SAICA’s CPD policy, all SAICA members and associates need to complete their annual declaratio...


Read More

Fraudulent scheme by directors - who get...

If the directors of a company defraud its customers, the proceeds can belong to the company.


Read More

CIPC Alternative to call centre

Due to technical difficulties, the CIPC call centre is currently closed. CIPC suggests using the En...


Read More

IAASB & IFAC: Less Complex Entities Cons...

IAASB &IFAC have released the Less Complex Entities Consultation Survey, as an easy alternative to p...


Read More

Reminder: ISRS 4400 (Agreed-Upon Procedu...

ISRS 4400 (Revised) will be effective for AUP engagements for which the terms of engagement are agre...


Read More

Draft Companies Amendment Bill: Some goo...

An interesting proposal in the Draft Companies Amendment Bill is that all share buy-backs in terms o...


Read More

POPIA for community schemes and gated co...

Community schemes and gated communities that do not meet the requirements of POPIA face hefty fines,...


Read More

ASB proposes changes to the Standard on...

The Accounting Standards Board (ASB) issued ED195 with proposed amendments to GRAP 103 on Heritage A...


Read More

Compensation Commissioner: Notice on ban...

The Compensation Commissioner issued a notice on banking information requirements in terms of sectio...


Read More

Directors: Increased obligations and pot...

Directors need to be aware of the increased obligations and potential exposure to liability as set o...


Read More

Co-operative Annual returns and Annual s...

The Co-operatives Division at the CIPC published a Notice on the requirements of submitting the annu...


Read More

Latest Community Schemes Ombud Service (...

The CSOS (Community Schemes Ombud Service) has issued 3 Circulars on, inter alia: the Opening of a B...


Read More
Default

3 Public Sector tools

3 Public Sector tools that are applicable to the financial year ending 31 March 2022, have been issu...


Read More

Filling of joint business rescue practit...

The new eservices system is designed to cater for joint appointments of business rescue practitioner...


Read More

IAASB First-time Implementation Guide fo...

The International Auditing and Assurance Standards Board (IAASB) has released an updated version of...


Read More

IAASB Handbook: electronic version

The IAASB published the electronic version of their 2020 Handbook of International Quality Control,...


Read More

King Committee Guidance papers

The King Committee released 3 guidance papers on: climate change, corporate failures and stakeholder...


Read More

NB! Deadline extended re Legal Practitio...

The LPC (Legal Practice Council) has extended the date for submission of trust account auditor’s rep...


Read More

Summary of IFAC Code amendments for SMPs

IFAC has published a handy summary of all 2020 and 2021 Code amendments from the perspective of a SM...


Read More

IESBA: Proposed Quality Management-relat...

IESBA issued proposed conforming amendments to the Code based on the new quality management standard...


Read More

Block exemption - Essential goods

The Minister of Trade, Industry and Competition issued Block Exemptions for the Security of Supply o...


Read More

CIPC: Practice Guideline re Independent...

CIPC has issued a Practice Guideline to facilitate compliance with Companies Regulation 29, and to u...


Read More

CIPC File Transition Project to possibly...

CIPC is busy moving files and inform customers of possible delays over the next 4 months (until late...


Read More

SAICA Retention of records guide updated

SAICA has revised and issued the updated Guide on the retention of records, which refers to the legi...


Read More

CIPC delays the launch of automated Busi...

CIPC has announced a delay in the release of automation of business rescue proceedings, business res...


Read More

IESBA Launches the Post-Implementation R...

The International Ethics Standards Board for Accountants (IESBA) has released a questionnaire that s...


Read More

SA's new debit order system

South Africa's new debit order system, DebiCheck, came into effect on 1 May 2021.


Read More

SAICA Revised IFRS Circular 1/2021 – Hea...

Circular 1/2021 – Headline Earnings was revised and issued by SAICA to amend the detailed rules pert...


Read More
Default

Council for Medical Schemes issued guida...

The Council for Medical Schemes has issued guidance on the submission of COVID-19 related financial...


Read More

CIPC’s New Automated Processes & latest...

CIPC will be introducing a new registration system called K2 (automated processes) to simplify the p...


Read More
Default

Tito’s 2021 Budget from an accountant’s...

Taxpayers and accountants are being left to sort out a mess brought on by some truly awful decisions...


Read More

New Minimum Wage effective from 1 March...

1 March 2021 will see the introduction of the increased national minimum wage.


Read More

IASB amends 3 Standards to improve accou...

The IASB (International Accounting Standards Board) has issued narrow-scope amendments to the follow...


Read More

New Employee earnings threshold effectiv...

With effect from 1 March 2021, the BCEA earnings threshold will increase to R211 596.30 per annum (a...


Read More

New Legal opinion on trainee severance p...

SAICA obtained an opinion on severance pay payable to trainees who may be retrenched for reasons res...


Read More

Evolving risks from Money Laundering, Te...

IESBA (International Ethics Standards Board for Accountants) have published a staff alert on the evo...


Read More
Default

What the change in “loop structure” rule...

Lifting exchange control rules on loop structures is intended to attract foreign investment to SA


Read More

SARS MobiApp Enhancements

SARS have updated their guide to the SARS MobiApp to include the new enhancements.


Read More

IESBA proposes holistic approach to defi...

The proposed revisions broaden the definition of a public interest entity (PIE) to include more cate...


Read More

NEW! Updated Schedule of write-off perio...

SARS have updated and issued BGR (Binding General Ruling) 7 on Wear-and-Tear Allowances, including t...


Read More

The Companies and Intellectual Property...

The Companies and Intellectual Property Commission (“CIPC”) has released 2 new notices.


Read More

The Independent Regulatory Board for Aud...

IRBA’s Board of Directors was dissolved by the Minister of Finance, taking into account the resignat...


Read More

Guide released on new SARS eFiling Brows...

SARS have published a brand new guide on how to download the new SARS eFiling Browser.


Read More

The International Federation of Accounta...

The International Federation of Accountants (IFAC) has updated and published 2 support documents tha...


Read More

SAICA issued the new 2021 Training Regul...

SAICA issued the latest Training Regulations which are effective from 1 January 2021.


Read More
Default

Infiniti provides a tool to guide your p...

Saica has recently changed its CPD policy from input-based (in other words, a requirement to put in...


Read More

Accountex Virtual Summits go Global

Accountex is going global this autumn, with the launch of two new virtual summits for South African...


Read More

IRBA re LP Trust Accounts

IRBA advises on very important information re Legal Practitioners’ Trust Accounts.


Read More

Closing Dates for UIF COVID-19 TERS Bene...

The Department of Employment and Labour has confirmed the closing dates for UIF COVID-19 TERS benefi...


Read More

IRBA: no more extensions for 2nd RI repo...

IRBA is no longer considering written requests for extensions for submissions of second Reportable I...


Read More

Compensation for Occupational Injuries a...

COIDA Amendment Bill now includes domestic workers and gardeners in the definition of an “employee”,...


Read More

Unilateral change to employee’s retireme...

Unilateral change to employee’s retirement age may constitute an automatically unfair dismissal in t...


Read More

New SARS guide on Third Party Appointmen...

SARS publishes new guide on Third Party Appointments via eFiling.


Read More

Submission of AFS using GRAP in XBRL

State Owned Companies (SOCs) can now submit their GRAP AFSs in the XBRL format from 1 October 2020.


Read More

NEW! UIF TERS Updates

UIF TERS benefit payments have been suspended again, and the TERS system will be unavailable for the...


Read More

CIPC Guidance Note 2 of 2020: Director q...

CIPC released a guide in terms of Regulation 4 of the Companies Regulations 2011 to highlight critic...


Read More

IRBA proposes amendments to the Code re...

IRBA issues Proposed Amendments to the Code of Professional Conduct for Registered Auditors: Propose...


Read More

UIF TERS extension some companies may no...

A recent radio interview confirms that the TERS extension to 15 September 2020 only applies to certa...


Read More

IRBA issues Guide for RAs on Joint Audit...

IRBA has issued a Guide for Registered Auditors: Joint Audit Engagements


Read More

IFAC: Exploring the IESBA Code Nr 9 – NO...

IFAC released the latest installment of Exploring the IESBA Code – Installment 9: Responding to Non-...


Read More

SARS: New developments in next phase of...

SARS have a number of new service offerings to assist taxpayers in the next phase of individual fili...


Read More

TERS payments reinstated

After applicants were left hanging for 24 hours, UIF lifts suspension on TERS benefit.


Read More

Inability to hold AGMs

Can’t hold AGM due to COVID-19? Contact the Companies Tribunal!


Read More

IASB issues IFRS Taxonomy Update to IFRS...

On 18 August 2020, the IASB issued an update to the IFRS Taxonomy 2020 for Covid-19-Related Rent Con...


Read More

Estates: Master releases Directive 1 of...

Master’s office released Directive 1 of 2020 to address concerns regarding the placement of adverts...


Read More

SARS Updated Income Tax Exemption Applic...

SARS has issued an updated Income Tax Exemption Application Checklist.


Read More

TERS Update: Vulnerable employees and em...

The new TERS directive published in August 2020 makes provision for 2 further applicants to apply fo...


Read More

SARS Notifications re progress of your a...

You will now receive notifications from SARS to see the progress of your audit case.


Read More

Applications for TERS benefit extension...

The directive allowing for the extended Covid-19 relief scheme has finally been signed and applicati...


Read More

SAICA: Guidance on sign off of financial...

SAICA issues guidance on CEO and FD sign off of internal financial reporting controls


Read More

CIPC warns: File all outstanding Annual...

The Companies and Intellectual Property Commission (CIPC) advises customers that it would be finally...


Read More

Where and how should COVID-19 impacts be...

Whether a company presents its COVID-19 impacts on the face of the income statement or discloses the...


Read More

IFAC: Exploring the IESBA Code - NOCLAR...

IFAC releases latest installment of Exploring the IESBA Code – Installment 8: Responding to Non-Comp...


Read More

SASSA: Payment method changes for COVID-...

SASSA will be opening the system to enable approved applicants to change their method of SRD payment...


Read More

Professional Scepticism explained

This article attempts to clarify the concept of professional scepticism and how auditors can practic...


Read More

Consumer Goods and Services Ombud (CGSO)...

The CGSO have published their 2nd quarterly newsletter for 2020.


Read More

CIPC re directors’ remuneration when AFS...

CIPC urges entities to comply with the requirement to disclose remuneration and benefits of director...


Read More

Consumer Goods and Services Ombud (CGSO)...

If a payment is made to a business in error, should it be fully refunded?


Read More

Small Business - Tax Relief Measures lea...

This leaflet is a quick reference to the draft Disaster Management Tax Relief Administration Bill, a...


Read More

SARS warns of 3 new scams

SARS warns the public against 3 new phishing scams purporting to be from SARS, including threatening...


Read More

UIF TERS relief payments extended by 6 w...

The SA Government has decided to extend the COVID-19 Temporary Employee Relief Scheme (TERS) benefit...


Read More

CIPC confirms recommencement of referral...

CIPC will once again start to automatically refer non-compliant companies and close corporations for...


Read More

CIPC announces NEW method of confirming...

CIPC announces the NEW method of issuing confirmations of processing COR123.1, COR125.2, COR125.3, a...


Read More

UIF confirms New Login Rules for UIF TER...

The UIF COVID-19 TERS National Disaster Application System now displays the New Login Rules. COVID-1...


Read More

CIPC advises on regulatory compliance du...

CIPC confirms that regulatory and operational concessions and arrangements made in certain Notices,...


Read More

Tribunal reaches consent on 3 more cases...

Competition Tribunal confirms 3 more consent agreements relating to COVID-19 excessive pricing compl...


Read More

IAASB issues Staff Audit Practice Alert...

This Staff Audit Practice Alert highlights key areas of focus in the current environment when undert...


Read More

Dis-Chem fined R1,2million after long-aw...

The Competition Tribunal has found Dis-Chem Pharmacies Limited (Dis-Chem) guilty of charging excessi...


Read More

IRBA issues Staff Audit Practice Alert 5...

This IRBA Staff Audit Practice Alert serves to provide auditors with guidance and considerations to...


Read More

International Auditing and Assurance Sta...

This Staff Audit Practice Alert highlights key considerations for auditors performing reviews of int...


Read More

IRBA alerts auditors regarding the possi...

The 2020 interim reporting period is expected to disclose information over and above what is typical...


Read More

Estate Agency Affairs Board (EAAB) Waive...

There are no fines for late submissions for audit reports of estate agents’ business and trust accou...


Read More

Accounting in the age of coronavirus

There are several challenges arising from the coronavirus that impact the accounting profession.


Read More

SARS will start issuing "auto-assessment...

The third phase of Filing Season 2020 opens on 1 August 2020, and is referred to as the “auto-assess...


Read More

Legal Practitioners Fidelity Fund (LPFF)...

The Legal Practice Act, No. 28 of 2014 (LPA) makes it mandatory for Legal Practitioners to pay any u...


Read More

IRBA issues Staff Audit Practice Alert 4...

This IRBA Staff Audit Practice Alert provides auditors with implementation guidance in responding to...


Read More

Tax treatment of losses incurred during...

Individuals and business who incur expenditure or losses as a result of the COVID-19 pandemic, must...


Read More

Refusal to work by employee due to COVID...

An employer may not take any disciplinary action against an employee for exercising his right to ref...


Read More

Taxing Times: What the post-Covid world...

Tax agencies worldwide are shifting their focus from short-term relief to longer-term pro-growth inc...


Read More

Estate Agency Affairs Board (EAAB) provi...

The EAAB (Estate Agency Affairs Board) has issued guidelines which aims to assist employers, employe...


Read More

Employment and Labour Head Office and it...

The Department of Employment and Labour head office and its entity the Compensation Fund offices, wi...


Read More

After a lost decade, now it’s time to fo...

The Covid crisis has gifted SA a once-in-a-generation opportunity to reform what's broken about the...


Read More

Competition Tribunal confirms fines for...

The Competition Commission summarised the outcome of hearings by the Competition Tribunal against co...


Read More

International Accounting Standards Board...

The amendments prohibit a company from deducting from the cost of property, plant and equipment amou...


Read More
Default

IRBA draws attention to the Key Audit Ma...

The COVID-19 pandemic presents a unique set of circumstances and challenges to the financial reporti...


Read More

International Accounting Standards Board...

The IASB (International Accounting Standards Board) has issued an amendment to IFRS 16 Leases (effec...


Read More

National Employers’ Association of South...

All industries, business entities, both private and in the public sector, that are permitted to oper...


Read More

A thundering defeat for government over...

The Pretoria High Court has delivered a thundering defeat to government over its "irrational" lockdo...


Read More

IAASB issues illustrative examples for a...

The examples demonstrate how an auditor’s work effort, to comply with the requirements of ISA 540 (R...


Read More

The Accounting Standards Board (ASB) has...

This document outlines the high-level issues that entities that apply Standards of GRAP should consi...


Read More

IAASB releases COVID-19 related guidance...

This Staff Audit Practice Alert highlights potential implications on audit reports, independent revi...


Read More

Clarification on the Audit Requirements...

In withdrawing the non-binding legal opinion, CIPC has made it clear that legal practitioners that a...


Read More

CIPC to implement a new card payment sys...

The new card payment system will require customers to transact with CIPC using debit and credit card...


Read More

International Auditing and Assurance Sta...

This publication has been prepared to highlight key areas of focus in the current environment when u...


Read More

UIF issues Final letter to TERS benefits...

Employers who have received TERS benefits are advised to complete and return the letter, as failure...


Read More

Competition Commission releases New Buye...

The Competition Commission has issued the Price Discrimination and Buyer Power Guidelines aimed at b...


Read More

Legal Practice Council (LPC) extends sub...

The Legal Practice Council extended the submission date of trust account auditor’s reports by one mo...


Read More

SAICA Education Modules re COVD-19 Finan...

SAICA has compiled and issued educational material on 12 Financial Reporting topics that require spe...


Read More

Consumer Goods And Services Ombud (CGSO)...

Consumers are returning clothing bought during Level 4 Lockdown, and some clothing suppliers are not...


Read More

Banks launch online application portals...

The major banks this week launched their online portals providing loans to small and medium-sized bu...


Read More

IESBA released Q&As on COVID-19: Ethics...

To help accountants navigate ethics and independence issues that might arise during the COVID-19 pan...


Read More

DoL released OHS measures that employers...

The Department of Labour (DoL) has released Occupational Health and Safety Measures to reduce and el...


Read More

SAICA issues clarification re COVID-19 T...

SAICA met with the UIF Commissioner and have issued a media statement on 7 May 2020 (containing 4 de...


Read More

UIF clarifies deadline for COVID19 TERS...

The Department of Labour clarified that no deadline has been reached for UIF COVID-19 TERS claims. T...


Read More

CIPC reopens on 6 May 2020

Today, 6 May 2020, CIPC has incrementally recommenced back office processing services for Companies...


Read More

You don’t qualify for bank assistance? G...

The relief packages offered by banks could be the cause of untold legal cases in the months to come.


Read More

Counting the economic cost of the lockdo...

The economic costs of the Covid-19 lockdown are horrific. Here are some of them.


Read More

Here are some alternative funding source...

Fintech companies offering 90-minute loan approvals are seeing a spike in loan applications


Read More

Look who’s winning during lockdown

Netflix, Zoom, teleconferencing - and SA Accounting Academy.


Read More

Here's the Covid relief being offered by...

It's a bit of a damp squib compared to other countries.


Read More

March 2020 monthly compliance update: Au...

The month of March 2020 will be remembered for the Covid-19 lockdown, the 9/11 of our age.


Read More

Covid-19 financial assistance hub

All on one page, the places where you can find assistance to help you through the Covid-19 crisis


Read More

It's a Covid lockdown. Here are Ramaphos...

A range of measures are planned to limit the economic effects of the Coronavirus.


Read More

Taxpayer loses 2-1 against Sars in capit...

A recent case involving an unnamed taxpayer didn't quite go as planned.


Read More

Audit in the time of coronavirus: a tale...

Already we are seeing a weakening of audit standards under the cloak of Covid-19


Read More

CIPC issues notice ditching compliance c...

The CIPC has ditched the proposed compulsory compliance checklist for smaller companies.


Read More

It just got a whole lot easier to do bus...

New web platform makes it possible to register a company in minutes.


Read More

SAAA brings accounting services and hope...

Here's how SA Accounting Academy is helping bring accounting services to the townships


Read More

Monthly Compliance and Legislation Updat...

It's been a busy period in court for SA Revenue Services, while accounting standard setters debate i...


Read More

CIPC compliance checklist raises concern...

The CIPC Compliance Checklist became effective on 1 January 2020 but is raising concerns among accou...


Read More
Need Help ?

Explore Smarty