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Medical Schemes Accounting Guide
- 26 January 2023
- Accounting
- South African Accounting Academy
This guide has been prepared by the Medical Schemes Project Group of the South African Institute of Chartered Accountants (SAICA) in consultation with the Council for Medical Schemes (CMS), primarily to provide guidance to SAICA members on the accounting requirements applicable to schemes that carry on the business of a medical scheme and auditors of medical schemes.
The guide assumes compliance with International Financial Reporting Standards (IFRS) and any additional requirements of CMS and addresses only the accounting and reporting issues that are specific to schemes that carry on the business of a medical scheme. The guide is therefore not considered to be complete in all aspects, and members and associates are advised to read this guide in conjunction with applicable legislation, circulars from CMS, and IFRS, where appropriate, to ensure that all areas are adequately covered in any work that they are undertaking.
The accounting guide contains 4 Appendices which will be very useful to accountants.
The guide does not address audit issues. The Independent Regulatory Board for Auditors (IRBA) issues separate guidance for auditors of medical schemes.
Click here to download the Revised Guide:
Relevance to Auditors, Independent Reviewers & Accountants:
- This guide provides guidance to SAICA members on the accounting requirements applicable to schemes that carry on the business of a medical scheme and auditors of medical schemes.
Relevance to Your clients:
- This guide provides guidance to SAICA members on the accounting requirements applicable to schemes that carry on the business of a medical scheme.
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