These are the guides that we issued on the CIBA side in November 2023:

The teaser versions of the guides are available.

The full versions are uploaded to the profiles of paid-up members under Practice Tools/Guides.

Click here to download the sneak peeks of the guides:

Relevance to Auditors, Independent Reviewers & Accountants:

FICA and the Income Tax Act are more pieces of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (Non-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
As an auditor, independent reviewer and accountant, you need to be aware of useful guides that you and your clients can use in practice – especially guides issued by regulators, e.g. CIBA.
You need to consider that your clients – especially those who are regarded as accountable institutions, are complying with their responsibilities in terms of FICA.

Relevance to Your Clients:

An accountable institution must comply with the FIC Act and its obligations, otherwise, it could be held liable.
Your clients need to be aware of useful guides that they can use in practice.

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