Slide 2

Monthly Compliance and Legislation Update - December

CPD Hours: 1

Price: R399.00

Title / Topic

Monthly Compliance and Legislation Update - December

 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. 


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: 


  • Standards – What’s new?
    • IFRS Monthly news summary
  • Accounting issues
    • Headline Earnings Circular published for comment
    • Review of Merger and Acquisition accounting
    • Accounting for common control
    • Proposed amendments to IFRS 16 (Sale and leaseback)
    • Educational material: Climate change impact on fiancials



  • Audit Reform Project (an overview):

- Auditing Profession Amendment Bill
- Enabler vs Victim by Prof Wiseman Nkulu

- BEIS Report on the Future of Audit

- Sir D Bydon’s Report of the Independent Review of the Quality and Effectiveness of Audit

- International Benchmarking

- Financial Reporting Council Developments

- IAASB Developments
- IESBA Developments


  • Standards:


  • Legal/Ethics:
      • Reminder concerning IRBA’s new CPD policy
  • Other:
    • Disciplinary Committee’s merits ruling on African Bank matter


  • Notices and Practice Notes issued (enforcement and to customers):
    • Notice 51 and 54 of 2020: Uploading of new eServices for online Co-Op registrations
    • Balance of notices relate to administration issues



    • Notice 49

COVID-19 Updates

  • Important changes:
    • Waiting to see if any Presidential addresses happen considering increasing cases and the impact of the 2nd wave
  • Legislative amendments:
    • None
  • New announcements/guidance:
      • Article of interest: How COVID-19 will impact December leave for workers in South Africa

Labour Law:

  • Employment law:
      • See COVID-19 update regarding leave


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

  • This month’s big 5:

Issue 19 covers new relevant National laws up to 7 December 2020:

  1. The Auditing Profession Act (Amendment Bill 2020);
  2. The Compensation for Occupational Injuries and Diseases Act (Domestic Workers);
  3. The Cybercrimes Bill (Version D);
  4. The Disaster Management Act (Regulations and Directions); and
  5. The Financial Advisory and Intermediary Services Act (Draft Regulations)
  • Other acts and articles:
  • The Cybercrimes Bill
  • Update:
    • None


Refer to December and November 2020 Maitland and Associates Tax Newsletter attached


Regulator news:

  • IRBA News & press releases:
    • None
  • SAICA press releases and other publications:
    • Quarterly update on Disciplinary Outcomes
  • CIPC:
    • None
  • FIC Advisory & Guidance:
    • None
  • Companies Tribunal:
    • None
  • LPC:
    • None
  • CGSO:
    • None
  • FSCA publications & press releases:
  • Information Regulator:
    • None
  • SARS:
    • Refer to Newsletters

General Announcements / News Releases:

  • Media articles:
    • KPMG Report (UK) The New Customer
    • FM: To fight fraud, manage culture
    • The case for Outsourcing Collections at Accounting Firms (CPA)
    • IFAC – Enhancing Firm Credit Control and Fee Collection
    • IFAC – Anti Money Laundering – The Basics
    • IFAC – Accountants Supporting Sustainable Recovery


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