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COIDA Draft Regulations
- 20 June 2023
- Accounting
- South African Accounting Academy
Among other things, the draft regulations seek to make a reintegration and return-to-work policy mandatory for all employers, including those exempt from contributing to the Compensation Fund and therefore deemed ‘individually liable’ in terms of the principal Act.
It is envisaged that this reintegration and return-to-work policy would include reskilling for alternative work and – where applicable – providing ‘reasonable accommodation and assistive devices’.
Comments are due by 15 July 2023.
The COID Amendment Act can be accessed at https://www.gov.za/sites/default/files/gcis_document/202304/48431-17-4-compensationoccupinjuriesdiseasesamendact10of2022a.pdf
Click here to download the Draft Regulations:
https://www.gov.za/sites/default/files/gcis_document/202306/48787rg11592gon3539.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- The COID Act is yet another piece 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 the auditor/independent reviewer/accountant of your medical service provider clients, you need to ensure that they are aware of and adhere to the latest COID Regulations.
Relevance to Your clients:
- As an employer, your clients comply with COIDA, and they also need to be aware of and adhere to the latest Regulations in this regard.
To stay current with all the latest changes and updates subscribe to our Monthly Compliance and Legislative Update series for R 250.00 per month. This gives you access to a monthly 2-hour webinar and monthly newsletter:
https://accountingacademy.co.za/profession/monthly-legislation-update
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