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Legislation
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Monthly Compliance and Legislation Update - June 2022

CPD Hours: 2

Price: R380.00


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Monthly Compliance and Legislation Update - June 2022

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.   

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 

    • Feedback from the IFRS Advisory Council meeting 

  • Accounting issues 

    • Accounting for cryptos - still a talking point! 

  • Sustainability Reporting 

    • IFRS: ‘MOU with the Global Reporting Foundation’ 

IRBA: 

  • Standards:  

    • ISA 220 (Revised) - definition of an engagement team fact sheet 

  • Legal/Ethics:  

    • IESBA Expands the Definition of Public Interest Entities and the Implications for South Africa 

    • Report on IESBA’s accomplishments – Elevating Ethics and Independence Standards in a complex world 

  • Other: 

    • Report: IRBA issues Conforming and Consequential Amendments to the Other International Standards 

    • IAASB LCE Conference takeaways 

    • Audit Quality Indicators (AQIs): a global overview of initiative - factsheet 

    •  ESG governance: recommendations for audit committees 

CIPC: 

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

    • Admin Independent Review Practice Note 3 of 2022 

    • CIPC Notice 13 of 2022 - CIPC link with DHA has been restored 

  • Articles: 

    • SAICA: FAQs for members and associates relating to the Companies Act 

Labour Law: 

  • Employment law: 

    • Interim suspension of UIF Compliance Certificate requirement for doing business with government, SOEs etc.  

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 30 May 2022: 

      1. The Civil Aviation Act: Amendment Act 2021 

      2. The Electronic Communications Act: End-users and subscriber service charter 

      3. The Financial Sector Regulation Act: Introductory commissions 

      4. The Long-term Insurance Act and Short-term Insurance Act: Demarcation regulations benefit escalations 

      5. The Occupational Health and Safety Act: Commercial diving regulations 2022. 

Other acts and articles: 

  • Amendments to the JSE Listings Requirements 

  • Financial Sector Regulation Act: Introductory commissions Information request 4 of 2022 

  • Draft Magistrates Bill 

  • National Health Act: Notifiable conditions 

  • Non-profit Organisations Act: Draft Amendment Bill 2021  

SARS: 

  • Refer to April and May 2022 Maitland and Associates Tax Newsletter distributed to attendees.  

Regulator news: 

  • SAIBA 

    • Accounting Weekly Newsletter  

    • CFO Talks 

  • CGSO (Consumer Regulator) 

    • 1st Quarter Newsletter (April to June 2022) 

  • Competitions Commission 

    • CompuTicket agrees to pay R11.3M as a second fine for alleged abuse of dominance 

    • Commission meets with airlines 

    • Commissions Decisions from May 2022 

  • FIC Advisory & Guidance 

    • FIC Warms of Scam notices using its name 

  • Companies Tribunal 

    • Name disputes (3 granted 1 refused) 

    • Director disputes (2 granted 2 refused) 

    • Exemptions (2 granted) 

    • AGM (1 granted) 

    • Other matters dismissed 

  • Property Practitioners Board 

    • Extension of deadline to submit financials (4 months to 6 months) 

  • SARS 

    • Change in Tax Practitioner CPD requirements 

  • LPC:  

    • LPC welcomes Ombud 

  • SAICA 

    • Protection of Personal Information Act (POPIA) guide released 

    • Fact Sheet 1 – Overview of the 8 conditions of the POPI Act 

    • Fact Sheet 2 – Understanding Data Subjects Rights 

    • Fact Sheet 3 – Direct marketing: staying on the right side of the law 

    • Fact Sheet 4 – Basic security information checklist for small low risk owners  

General Announcements / News Releases: 

  • Media articles and other thoughts:  

    • Debt management - When does the clock for prescription start? 

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