CATEGORIES
- (2)Account / Profile
- (498)Accounting
- (6)Audit
- (97)Auditing and Assurance
- (1)Business
- (3)Business Rescue & Business Valuations
- (31)CIPC
- (6)Compliance
- (4)Ethics and Professionalism
- (18)Financial Reporting
- (3)Guides
- (2)Law
- (35)Legal and Compliance
- (2)Management
- (12)Money Laundering
- (1)Personal & Professional Development
- (1)Practice Management
- (1)Professional Ethics
- (1)Public Sector
- (22)Regulatory Compliance and Legislation
- (9)Sustainability Reporting
- (19)Tax
- (1)Tax Update
- (1)Technology
- Show All
The Information Regulator's first bite!
- 08 February 2023
- Accounting
- South African Accounting Academy
The public hearings were held and precipitated by a complaint from Hardwick Trading (Pty) Ltd (Hardwick Trading) , who alleged that it is entitled to payment of license fees and/or copyright royalties due to Beulah Records - a record label previously owned by Hardwick Trading. In order to demonstrate the aforementioned entitlement, Hardwick Trading required access to information relating to the license fees and copyright royalties collected by RISA Audio Visual Licensing NPC (RAV). On RAV's version, Hardwick Trading was not entitled to access the financial information on the basis that Hardwick Trading failed to provide evidence that the company was owed royalties in the first place.
An Investigation Report (Report) issued by the Regulator found that RAV should not have refused Hardwick Trading's access to the requested information that included access to broadcasting and payment records. The Report found that the requested information was necessary for the protection of Hardwick Trading's rights i.e. that under PAIA, anyone can request access to information from a private or public entity when that information is needed to exercise or protect their rights. But when PAIA applications are refused or ignored, there was little recourse for the applicant and that RAV's reasons for refusing access were unsubstantiated.
The Report has been handed over to the Regulator's Enforcement Committee, who will conduct a further assessment of the matter, and give an outcome to the Regulator, who will then make a decision as to the right access to information by Hardwick Trading, and the recourse (if any) that must be taken in respect thereof.
The Regulator has said that the South African music industry lacks transparency and accountability, says regulator
Click here to access this interesting article:
Relevance to Auditors, Independent Reviewers & Accountants:
- PAIA 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 an auditor, accountant and independent reviewer, you need to be aware of relevant articles that set forth important principles.
Relevance to Your clients:
- An entity (company or close corporation) has a duty to comply with the Promotion of Access to Information Act, and the information officer has to fulfil his duties accordingly, otherwise the entity could be held liable.
- An entity should be aware of relevant articles that set forth important principles i.t.o. PAIA
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
Get all your CPD online. SA Accounting Academy (SAAA) offers Subscription Plans, Live Webinars, Webinars On-Demand, Access to Experts, Courses, Articles and more:
https://cpd.accountingacademy.co.za.