Monthly Compliance and Legislation Update - July


CPD hours: 2 Hours

Price: R399.00

Video Type: Single

Presenter: Lettie Janse van Vuuren CA(SA)
CA (SA), Registered Auditor
...

Monthly Compliance and Legislation Update - July

CPD Hours: 2

Price: R399.00


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Monthly Compliance and Legislation Update - July


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 Lettie Janse van Vuuren CA(SA), RA 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 

  • Issued by the Office of the Accounting-General in the Department of National Treasury 

    • Updated Accounting Guidelines on 2 GRAP standards 

IRBA: 

  • Guidance/Other:  

    • Consultation Paper - Enhancing Disclosures in the Auditor's Reports in South Africa: Addressing the Needs of Users of Financial Statements 

CIPC: 

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

    • Notice 29 of 2021 – List of Accredited Professional Bodies whose members are eligible to be licensed as business rescue practitioners as at 01 June 2021  

    • Practice Note 1 of 2021  

    • Guidance Note – Essential services certificate issued by CIPC  

    • Notice 33 of 2021 – Close Corporations without Accounting Officers    

COVID-19 Updates 

  • New announcements/guidance: 

    • Employment and Labour Minister issues new direction with regard to vaccination in the workplace  

Labour Law: 

  • Employment law: 

    • A self-help guide to the CCMA  

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

  • This month’s big 5: 

    • Volume 16 Issue 11 up to 21 Jun 2021: 

    1. The Disaster Management Act (COVID-19 workplace safety directions); 

    2. The National Environmental Management Act (Environmental impact assessments); 

    3. The National Health Act (Certificates of need); 

    4. The Occupational Health and Safety Act (Ergonomics regulations); and 

    5. The Protection of Personal Information Act (Transitional arrangements). 

  • Other acts and articles: 

    • UIF Contribution Threshold increased with effect from 1 June 2021 

    • New Consolidated directions on OHS measures in certain workplaces – Ad-hoc webinar to be presented by Lettie on 28 July 2021 

    • Sectional Titles Act: Amendment of Regulations 2021 

    • Deeds Registries Amendment Act: Amendment of Regulations 2021 

    • New Extension of PAIA Manual exemption 

  • COIDA Update: 

    • Minimum assessment introduced for Domestic Workers 

SARS: 

  • Guides & FAQs (new, updated & issued): 

    • New Guide to SARS Mobile Tax Services 

    • Guide on the Determination of Medical Tax Credits (Issue 12) 

    • Updated: Guide to the Tax Compliance Status on eFiling 

    • Comprehensive Guide to Dividends Tax (Issue 4) 

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

    • Binding Class Ruling (BCR) 077 – Capital gains tax consequences of in specie distribution by company to its shareholders 

    • Binding Private Ruling (BPR) 366 – Distribution in specie of shares 

    • Binding Private Ruling (BPR) 365 – Interpretation and application of the de-grouping provision in section 45(4)(b) 

    • Draft Binding General Ruling (BGR) – Purchase of different types of annuities at retirement 

    • Draft Binding General Ruling (BGR) – Disqualification as a qualifying company under section 12R(4)(b) 

  • Notices and other publications issued: 

    • SARS provides guidance on claiming Home Office Expenses 

    • Six SARS forms to migrate from Adobe Flash Player to HTML5 

    • RAV01 form converted to HTML5 

    • Verify a Tax Compliance Status 

    • Updated Average Exchange Rates Tables 

    • Guidance: Cease to be a Resident 

  • Taxpayers must be on the lookout for New Scams: 

    • ​Application for learnerships by unemployed youth 

    • Notices of Administrative Penalty from SARS 

Regulator news: 

  • IRBA News & press releases: 

    • IRBA News #54 published 

  • SAICA press releases and other publications: 

    • Retention of records guide updated 

    • Educational Material: Application of IAS 12 - Income Taxes: Substantively enacted tax rates 

  • SAIBA 

    • Accounting Weekly Newsletter  

    • CFO Talks 

  • Companies Tribunal:  

    • 10 Cases finalised in JUNE 2021 (2 AGM, 4 Name Disputes, 2 Directorship Disputes, 2 Exemption from SEC) 

  • CIPC: 

    • CIPC enforcing the Companies Act, 2008 

  • National Consumer Commission (NCC): 

    • The Competition Commission’s draft guidelines on small merger notification 

  • Information Regulator of SA:  

    • BASA Code of Conduct 

    • POPIA update from Information Regulator (including their enforcement powers) 

    • PAIA update from Information Regulator 

    • Guidance note on exemptions from the conditions of POPIA 

    • Information Regulator in the PAIA driving seat 

    • Information Regulator confirms commencement date of Section 58(2) of POPIA 

    • Guidance note on Processing of Special Personal Information  

    • Guidance note on Processing of personal information of children 

  • FSCA publications & press releases:  

    • Lists of recognised qualifications 

    • FSCA imposes penalty on African Unity Life Limited 

    • FSCA announces enforcement action against Vesticento CC [ Mutual Direct Group Funeral Benefits 

    • Covid-19 vaccines and life insurance policies 

    • Update on Impilo Plus Insure 

    • Africrypt (Pty) Ltd 

    • 8 Warnings issued against fraudulent FSPs this month 

  • SARS:  

    • VAT Connect Newsletter 

    • Latest Tax Practitioner Newsletter 

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