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Monthly Compliance and Legislation Update - December

CPD Hours: 2

Price: R399.00


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Monthly Compliance and Legislation Update - December

Presenters : Caryn Maitland


Overview   

Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.  

Technical expert Caryn Maitland CA(SA) researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.  

The webinar includes:  

  • A reference guide of all changes to share within the firm;  

  • PPT summary of all new amendments; 

  • Interactive session with the presenter; and 

  • Online Q&A. 


 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: 

IFRS: 

  • Standards – What’s new? 

    • IFRS Monthly news summary 

    • Board work plan update 

  • Accounting issues 

    • Long term debts with covenants - classification 

    • Supplier finance arrangements 

    • Disclosure initiative projects 

    • Accounting for cryptocurrencies 

    • Body Corporate Illustrative Financials (ED) 

IRBA: 

  • Standards:  

    • New proposal for Less Complex Entities 

  • Legal/Ethics:  

    • IRBA opens draft proposed Disciplinary Rules for Registered Auditors for public comment 

  • Other:  

    • IRBA successfully defends challenge to MAFR by East Rand Member District of Chartered Accountants 

CIPC: 

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

    • Notice No. 58 of 2021: Appointing and resignation of auditors using the online services 

    • Notice No. 59 of 2021: Public companies contravening annual financial statements filing obligations 

    • Notice No. 61 of 2021: Compliance obligations of companies and close corporations in business rescue 

COVID-19 Updates: 

  • New announcements/guidance: 

    • Mandatory vaccinations - South African business heads push for mandatory vaccinations 

    • MTN makes COVID-19 vaccine mandatory 

    • Compensation Fund claims 

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

  • This month’s big 5: 

    • The latest SAICA Legal Update has been released and it covers relevant national laws up to 26 November 2021: 

      1. The Auditing Profession Act (Draft disciplinary rules) 

      2. The National Environmental Management Act (Hazardous chemicals and pesticides) 

      3. The Promotion of Access to Information Act (Manual, guide and disclosure) 

      4. The Tax Administration Act (Administrative penalties and disclosure) 

      5. The Tax Administration Laws Amendment Bill 2021 and Taxation Laws Amendment Bill 2021 

SARS: 

  • Refer to November and December 2021 Maitland and Associates Tax Newsletter distributed to attendees.  

Regulator news: 

  • SAICA 

    • SAICA Special Board Meeting 5 December 2021 (APC exam) 

    • CPD Declarations 

    • Annual Subscriptions 

    • Compulsory Ethics Reflection 

    • Sustainability Development Goals Report 2021 

  • SAIBA 

    • Accounting Weekly Newsletter  

    • CFO Talks 

General Announcements / News Releases: 

  • Media articles:  

    • What makes a good audit (FRC article)  

    • Non-audit services and independence 

    • Understanding assurance needs - A framework for the decision-maker 

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