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Deceased Estate matters: Chief Masters Directive 9
- 28 November 2023
- Regulatory Compliance and Legislation
- South African Accounting Academy
This directive addresses the Appointment of Executors and/or Master's Representatives (in terms of the Administration of Estates Act) in Deceased Estates by the Master as well as other matters relating to the administration of deceased estates.
Contents:
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Preamble
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Purpose
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Scope
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Objectives
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Definitions (for the purpose of this Directive)
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Implementation
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Reporting documents
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Letters of appointment
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Other deceased estate determinations
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Deviancy in exceptional circumstances
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Effective date = from 3 Nov 2023
This Directive recalls Chief Master's Directive 3 of 2006 & 2 of 2015.
Click here to download the Directive:
https://www.justice.gov.za/master/m_docs/2023-09_CHM-directive.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
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This Directive is issued i.t.o. Section 3 of the Judicial Matters Amendment Act, 205, which requires the Chief Master to “exercise control, direction and supervision over all the Masters”, and Section 2(1) of the Administration of Estates Act 66 of 1965.
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The above acts are yet more pieces of legislation that your clients must comply with, and which you must assess compliance with. Suppose they don’t comply with the relevant laws and regulations. In that case, 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.
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If you are advising your clients, you need to be aware of the latest information and directives that have been issued by the Master’s Office – especially regarding deceased estates.
Relevance to Your Clients:
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Your clients need to comply with the relevant legislation regarding deceased estates.
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Your clients need to be aware of the latest information and directives that have been issued by the Master’s Office.