IFRS for SME - Section 21 Provisions and Contingencies Presenter: Anton van Wyk M.Com CA(SA) Learning Objectives: By the end of this event the participant should: Understand the scope of IFRS for SMEs Section 21 Pr ovisions and Contingencies. Understand how and when to recognise provisions in the AFS; Know how to measure provisions initially and subsequently; Understand how to disclose provisions in the AFS; and Know how to practically apply the Standard as a whole. Content: The webinar will cover the following topics: Introduction to IFRS for SMEs Section 21 Provisions and Contingencies: Scope; Definitions; and Overview. What is excluded from the definition of "provision"? Recognition of provisions – How and when? Initial and subsequent measurement of provisions. How to disclose provisions in the AFS.
How to register and maintain a business Presenter: Russel Ngobeni Learning objectives: By the end of this event the participant should: Understand the various business types in South Africa; Know the diff erences between the various business types; Understand how to register a company with the CIPC; Know the steps involved in registering a company; Understand how to register for different taxes with SARS; and Know the mandatory submissions required by the CIPC and SARS. Content: The webinar will cover the following topics: Types of business types. How to match a client to the correct business type. CIPC online company registration. Registration with SARS. CIPC annual submissions. SARS tax returns.
New SAICA output-based CPD Policies explained 2020 Presenter: Anton van Wyk CA(SA) Learning objectives: By the end of this webinar the participant should: Understand the objectives of SAICA's new CPD policy. Know what is required for compliance; Know the new measurement method; Know the reporting frequency; and Understand SAICA's monitoring duties. Content The webinar will cover the following topics: Structure of the new CPD policy: Policy document. Guidance document. FAQs. Objectives. Submission requirements. Measurement method. Record keeping and duration. Exemptions. SAICA's monitoring duties.
Tax-free education bursary 2020 Presenter: Marisa Du Plessis Learning objectives By the end of this event the participant should: Understand the Education Bursary as provided for in Section 10(1)(q); Understand the compliance requirements and a possible implementation initiative; Be able to increase his/ her value proposition to existing customer base; Be able to change the lives of their client's employees; Be able to increase his/ her own revenue stream; Content The webinar will cover the following topics: What is Section 10(1)(q) of the Income Tax Act? Who qualifies for the Education Bursary? Implementation of the Education Bursary. Benefits to stakeholders.
Compliance and Legislation Update - January 2020 Presenter: Lettie Janse van Vuuren CA(SA), RA Learning objectives After attending this webinar you will: Be aware of the latest legislative changes an d what it means for your business, practice, and your clients; Be able to inform your staff and clients on how to stay compliant; Adapt business models to fit new legislative landscapes; Receive references to documents and guides; Have access to your own technical resource; and Have access to the presenter via email for follow-up Q & A. Course Content The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar: SARS: Guides (new, updated & issued): Updated VAT 404: Guide for vendors Binding Rulings (Private/Class/General) issued: BPR 336 – Liquidation distribution Notices and other publications issued: The validity period of the Confirmation of Diagnosis of Disability (ITR-DD) form has been extended Tax Court cases: IT 24614 – Whether the Appellant was entitled to a deduction for what SARS regarded as a loan IT 14157 – Whether the Appellant was an independent contractor that was not obliged to deduct SDL & PAYE High Court cases: Red Ant Security Relocation and Eviction Services (Pty) Ltd v CSARS (2999/18) – Whether applicant entitled to urgent interim interdictory relief in respect of withdrawal of tax compliance status by SARS CSARS v Spur Group (Pty) Ltd – Whether contribution to employee share incentive trust in the production of income and hence deductible under section 11(a) Supreme Court of Appeal cases: CSARS v Danwet 202 (Pty) Ltd – Condonation for late filing of an appeal against an assessment CSARS v Pieters and Others (1026/17) – Contracts of employees terminated; awards to employees not subject to PAYE Africa Cash & Carry vs CSARS – Whether SARS proved that the methods of assessment used were reasonable; whether the tax court ought to have remitted the assessment; section 89quat interest CSARS v Langholm Farms (Pty) Ltd – Whether court appropriately exercised its discretion in circumstances where Commissioner for the South African Revenue Service had not issued a final assessment CSARS vs Clicks Retailers (Pty) Ltd – Whether amount received from earlier sales used to finance future expenditure on same contract IFRS: Standards – What’s new? IFRS Monthly news summary IRBA: Guidance: Proposed Guide for Registered Auditors: Joint Audit Engagements CIPC: Notices and Practice Notes issued (enforcement and to customers): Guidance Note 2 of 2019 – Time Periods for Filing Annual Returns and Annual Financial Statements Notice 79 of 2019 – Disqualified directors’ letters SAICA highlights CIPC Compliance checklist challenges Companies Tribunal: 3 Decisions reached on cases heard (2 Name disputes, 1 AGM, 0 Exemptions from SEC, 0 Directorship dispute, 0 Reviews) Labour Law: Employment law: Update on Parental Benefits in terms of the BCEA – effective 1 January 2020 Other Laws & Regulations affecting your client AND impact on NOCLAR: Other Acts and articles: 6 planned laws for South Africa you should know about in 2020 Regulator news: IRBA News & press releases: IRBA Issues a New CPD Policy and Related Guidance IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms SAICA press releases & other publications: SAICA’s latest developments in the auditing profession 5 interesting articles that also affect SMEs SAICA SMP Q3 Newsletter Audit Requirements relating to the Business Accounts of Legal Practitioners now clarified SAICA’s new CPD Policy Companies Tribunal: Domain Name Disputes: Does the Tribunal have jurisdiction over Domain Names? FIC Advisory & Guidance: PCC41: Awareness on protecting NPO sector from Money Laundering and Terrorist Financing Call for comments: Draft PCC 102 on Supervisory Body Access to STR and STR Information Call for comments on South Africa’s Targeted Financial Sanctions Regime Draft Document PCC 104 FIC Supervisory Body: SARB fines Standard Bank R30m & imposes penalties on 4 other banks Media release: Public Private Sector Partnership to assist in Combating Financial Crime CGSO & National Consumer Commission: CGSO Annual report released CGSO Press release – Rights & Responsibilities of Consumers & Suppliers during Black Friday The National Consumer Commission slaps Ford Motor Company of Southern Africa with a fine of R35m Slow or no justice for buyers of dodgy cars despite Consumer Tribunal 'help' FSCA publications & press releases: FSCA Update on public warning regarding Karatbars International GmbH FSCA provisionally withdraw the licence of Exclusive Life Financial Services (Pty) Ltd FSCA eNewsletter – FSCA Bulletin 2019/2020 2 Warnings issued to the public against fraudulent FSPs General Announcements / News Releases: Media articles: The end of annoying marketing calls in South Africa Here’s when you are allowed to drive in the emergency lane in South Africa
Monthly Compliance and Legislation Update - December 2019 Presenter: Lettie Janse van Vuuren CA(SA), RA Learning objectives After attending this webinar you will: Be aware of the latest legislative change s and what it means for your business, practice, and your clients; Be able to inform your staff and clients on how to stay compliant; Adapt business models to fit new legislative landscapes; Receive references to documents and guides; Have access to your own technical resource; and Have access to the presenter via email for follow-up Q & A. Content These are examples of the topics covered that will include legislative, regulatory, industry standards, items and guides that have been issued and/or updated during the preceding month and will be covered in the webinar: Accounting: Updates regarding financial reporting and the accounting pronouncements, e.g. proposed and effective changes to International Accounting Standards (IAS), IFRS, IFRS for SMEs, etc. It also encompasses important news from IFAC, SAICA, standard-setting authorities and other relevant role players in the financial reporting field. Auditing and assurance services: Updates regarding new auditing pronouncements, e.g. proposed and effective changes to International Standards of Auditing (ISAs), South African Auditing Practice Statements (SAAPS), etc. It also encompasses important news from IRBA and other relevant role players about assurance services (i.e. auditing and independent review), non-assurance services, etc. Company secretarial: Updates and important notices released by CIPC, the Companies Tribunal and the Compliance Unit. It may also include general information on upcoming deadlines and other relevant information regarding the performance of company secretarial and related services. Employment law: This usually includes updates to the BCEA, sector-specific determinations setting out minimum wage rates, as well as publications containing lessons to be learnt from case law and judgments, e.g. CCMA, Labour Court, Supreme Court of Appeal, etc. Other laws and regulations: This usually includes publications regarding various other Laws and Regulations, e.g. BBBEE, Consumer Protection Act, National Credit Act, Occupational Health and Safety Act, etc. Overview of SAICA Big 5 for SMPs: Overview of the developments in the profession as highlighted by SAICA e.g. NCR Guidance, Draft Acts, Regulations, Bills, Amendment Acts, Government Gazette Notices, etc. Taxation: Overview of the developments in the tax profession as highlighted by SAIT e.g. new income tax pronouncements, interpretation notes, guides, etc. It also encompasses important news about SARS operations, eFiling, etc. Regulatory news: Updates to notices, articles, guides and press releases from relevant regulators in our industry, e.g. IRBA, SAICA, SAIT, FIC, FSB, JSE,Law Society SA and Fidelity Fund, Estate Agency Affairs Board (EAAB), SAIBA, FRSC etc. General announcements: Includes notices, articles and press releases from relevant stakeholders, e.g. ombudsman, etc. It also encompasses important news about SARS operations, eFiling, Newspaper articles, Technical magazines, Regulators issuing general news items, General media articles.