Compliance and Legislation Update September 2019 - Studio Recording


CPD hours: 2 Hours

Price: R499.00

Video Type: Single

Accounting
...

Compliance and Legislation Update September 2019 - Studio Recording

CPD Hours: 2

Price: R499.00


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Compliance and Legislation Update September 2019 - Studio Recording


Compliance and Legislation Update - September 2019

Presenter: Lettie Janse van Vuuren


Learning objectives  

After attending this webinar you will: 

  • Be aware of the latest legislative changes 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. 


 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 (updated & issued): 

    • New Tax guide for small businesses 2018/19 

    • New Guide on income tax and the individual (2018/19) 

  • Interpretation Notes (updated & issued): 

    • None 

  • Binding Rulings (Private/Class/General) issued and updated: 

    • BPR 324 – Disposal and acquisition of shares by a public benefit organisation  

    • BPR 325 – Liquidation distribution and amalgamation transaction between non-resident companies 

  • Notices and other publications issued: 

    • Practice Note 2 of 1996 withdrawn – Income Tax: Determination of taxable income where financial assistance has been granted by a non-resident of the Republic to a resident of the Republic 

  • Tax cases: 

    • High Court: Acti-Chem SA (Pty) Ltd v CSARS – Whether the rebate claimed by the appellant is warranted in terms of the Customs & Excise Act, 1964 

IFRS: 

  • Standards – What’s new? 

    • IFRS Monthly news summary 

IRBA: 

  • Standards:  

    • IRBA issues Guide for Registered Auditors: Auditing in the Public Sector (Revised August 2019) - effective from 2 September 2019 

    • IRBA issues SAAPS 4 (Revised 2019): Letters of Specific Inquiry to the Entity's External Legal Practitioner Regarding Litigation and Claims Involving the Entity - effective for letters of specific inquiry requested on or after 1 September 2019 

  • Legal/Ethics:  

    • Proposed Amendments to the IRBA Code of Professional Conduct relating to Registered Candidate Auditors 

    • IESBA Proposes Changes to Promote Role and Mindset Expectations of Professional Accountants 

CIPC: 

  • Notices and Practice Notes issued (enforcement and to customers): 

    • 2 notices issued (re Lists re Deregistration Notification to Companies and Close Corporations, Introduction of compliance checklist button on e-services website) 

  • Companies Tribunal: 

    • 9 Decisions reached on cases heard (6 Name disputes, 0 AGM, 2 Exemptions from SEC, 1 Directorship dispute) 

Labour Law: 

  • Employment law: 

    • The wholesale and retail sectoral determination 9 wage tables have been amended. 

    • Employees can soon check their UIF status via USSD. 

Other Laws & Regulations affecting your client AND impact on NOCLAR: 

  • This month’s big 5 include: 

    • The Administrative Adjudication of Road Traffic Offences Act (Amendment Act 2019); 

    • The Constitution of the Republic of South Africa (Transfer of administration and powers and functions); 

    • The National Credit Act (Amendment Act 2019); 

    • The National Qualifications Framework Act (Amendment Act 2019); and 

    • The Public Finance Management Act (Standard rate on interest). 

  • Other Acts: 

    • The National Health Insurance Bill 2019 

    • Financial Sector Regulation Act (Reminder that the commencement date for chapter 14 (Ombuds) is now 1 September 2019) 

Regulator news: 

  • ISAICA Guidance & other publications: 

    • Top tips for SMPs (Small and Medium Practices) 

  • Companies Tribunal:  

    • Manual re on-line case management system  

    • Newsletter 

  • SAIBA:  

    • SAIBA talks to IRBA re accreditation 

    • SAIBA investigates ATA assurance engagements – inspectors vs auditors 

    • SAIBA makes practical suggestions: 

      • To CIPC: to have RI for IRs included when you do the submission of your annual return 

      • To the Companies Tribunal: to have an automatic extension to submit financial statements, from 6 to 9 months, where a company/CC has a PIS<100 

  • SARS media releases: 

    • VAT Fraudster sentenced to 15 years imprisonment 

    • Clarification Note on Donations 

  • FSCA publications & press releases: 

    • 6 Warnings issued to the public against fraudulent FSPs 

General Announcements / News Releases: 

  • Media articles:  

    • How you can save tax on school fees 

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