Accountants' Discussion Forum: FIC changes - an update

CPD hours: 2 Hours

Price: R380.00

Video Type: Single

Presenter: Carmen Westermeyer CA(SA)
Presenter: Caryn Maitland CA(SA)
Owner, Maitland & Associates

Accountants' Discussion Forum: FIC changes - an update

CPD Hours: 2

Price: R380.00

Title / Topic

Accountants' Discussion Forum: FIC changes - an update


Recently, there has been an evolution to beneficial ownership requirements and this has made it imperative that every accounting professional understands how SARS has implemented these changes as well as know other related changes from the Financial Intelligence Centre (FIC).  

In this episode of our monthly discussion forum, the conversation will be centred on informing accountants on the above matters as well as assisting them on how to address the resultant challenges stemming from their increased compliance risk.   

Join Caryn Maitland CA(SA) and Carmen Westermeyer CA(SA) as they assist you to be FIC compliant and avoid significant financial penalties from the various regulators and SARS. 

Learning objectives and competencies developed 

By attending this discussion forum, you will: 

  • Have an updated understanding of Accountable Institutions in light of further guidance given and the effect of this on your clients.  

  • Have an understanding of the nuances in the meaning of beneficial ownership from the view point of the FIC Act, the Trust Property Control Act and the Companies Act. 

  • Become aware of the challenges of completing the beneficial ownership submissions for CIPC, Master's Office and SARS. 

  • Be conversant with the contents of the various notices published by CIPC, Master's office, FIC and SARS over this year. 

Content to be discussed 

The following topics are under discussion for this month: 

  • Beneficial Ownership as defined by: 

    • FIC. 

    • CIPC.  

    • Master of the High Court.  

    • SARS.  

  • Changes to the FIC Act and related Guides. 

  • Changes to the Companies Act and Regulations and related CIPC Notices and Guides. 

  • Changes to the Trust Property Control Act and related Master's Directives. 

  • Changes to the submission of tax returns and related SARS Guides and Notices. 

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