Webinars On-Demand

IFRS:

• • Standards – What’s new?
    • IFRS Monthly news summary
  • Accounting issues
    • Applying IFRS Standards in 2020 to reflect the impact of COVID-19

IRBA:

• • Standards:
    • IRBA approves 2 revised standards for adoption and issue:
      • ISA 315 (Revised 2019)
      • ISRS 4400 (Revised)
  • Legal/Ethics:
    • IFAC’s IESBA Code – Instalment 10 Pressure-to-Breach-the-Fundamental-Principles
    • IFAC’s IESBA Code – Instalment 11 The Role and Mindset of the Professional Accountant (issued 30 October 2020)
    • Remember to attend the webinars in this series to be held on:
      • 27 Nov on instalments 7 & 8
      • 1 Dec on instalments 9 & 10
      • 15 Dec on instalments 11 & 12

CIPC:

• • Notices and Practice Notes issued (enforcement and to customers):
    • Notice 44 of 2020: New email addresses for applications relating to Co-ops amendments
    • Notice 46 of 2020: New e-services functionality: on-line Co-operative registration now available
    • Notice 49 of 2020: Recommencement of legal filing obligations

COVID-19 Updates

• • New announcements/guidance:
    • COVID-19: SAICA Educational Material – 13 sets of material 

Labour Law:

• • Employment law:
    • Deemed if you do, deemed if you don’t!  What is the difference between a TES (Temporary Employment Service) and an independent service provider/contractor?

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

• • This month’s big 5:

This covers new relevant National laws up to 26 October 2020:

• • The Disaster Management Act (Directions);
  • The Expropriation Bill 2020;
  • Local Government Municipal Finance Management Act (Supply chain management);
  • The National Environmental Management Act (Hazardous chemicals and pesticides); and
  • The South African Police Services Act (Draft Amendment Bill 2020)
  • Other acts and articles:
    • 2 New Bills released for comments:
      • The Conduct of Financial Institutions (CoFI) Bill and
      • The Auditing Profession Amendment Bill

SARS:

• • Guides (new, updated & issued):
    • 3 Updated guides now reflecting the HTML5 format of the forms and eFiling redesigned screens:
      • How to report suspected non-compliance to SARS
      • Guide to the Tax Compliance Status functionality on eFiling
      • Guide to the Complaints functionality on eFiling
    • Updated ​Guide to Bulk and Additional Payments on eFiling with new validation rules for bulk payments.
    • 3 Updated guides relating to Tax Directives - The email addresses have been replaced with the new email address.
      • Guide to Complete the Tax Directive Application Forms
      • Completion Guide for IRP3a and IRP3s Form
      • Guide to Complete Submit and Cancel a Recognition of Transfer
    • Guide on the Taxation of Professional Sports Clubs and Players (Issue 2)
  • Notices and other publications issued:
    • Estates: A new Estates webpage was created for Deceased Estates, Insolvent Estates and Liquidation.
    • Enhancements to the Tax Directive functionality on eFiling
  • Bills issued:
    • The Minister of Finance introduced the following taxation Bills in the National Assembly on 28 October 2020:
      • Taxation Laws Amendment Bill [B27—2020]
      • Tax Administration Laws Amendment Bill [B28—2020]
      • Rates and Monetary Amounts and Amendment of Revenue Laws Bill [B26—2020]
  • 10 High Tax court cases:
    • CSARS and Joint Liquidators of Greenbridge Group (Pty) Ltd (in Provisional Liquidation) v Van Zyl (16604/2019) [2020] ZAWCHC 109
    • CSARS v Sunflower Distributors CC and others (66077/2015) [2015] ZAGPPHC
    • CSARS v Executor of Estate Late Ndlovu (A395/2016) [2020] ZAGPPHC
    • CSARS v Zikhulise Cleaning and Maintenance and Transport Service (14886/16) [2020]; Mpisane v Zikhulise Cleaning and Maintenance and Transport CC and Another (18101/16) [2017] ZAGPPHC
    • Ackermans Limited v CSARS (16408-2013) [2015] ZAGPPHC 684
    • Zikhulise Auto Recoveries (Pty) Ltd and Others v Zikhulise Auto Restorers (Pty) Ltd and Others (SARS Intervening) (36492/2018) [2019] ZAGPJHC 531
    • Brits v CSARS and Another (70549-2015) [2019] ZAGPPHC 987
    • Zikhulise Cleaning Maintenance and Transport CC v CSARS (34564/2016) [2017] ZAGPPHC 1247
    • CSARS ('SARS') v Zikhulise Cleaning Maintenance and Transport CC; Mpisane v Zikhulise Cleaning Maintenance and Transport CC and Another (14886/2016; 18101/2016) [2017] ZAGPPHC 1248
    • Bennett and Another v The State (SARS funding prosecution) (SS 40/2006) [2020] ZAGPJHC
  • Taxpayers must be on the lookout for New Scams:
    • Payment notice
    • Test of the SARS emergency notification system

Regulator news:

• • IRBA News & press releases:
    • IRBA News Issue #51
  • SAICA press releases and other publications:
    • SAICA Guide: Engagement letter for tax services
  • Companies Tribunal:
    • 14 Cases finalised
    • Companies Tribunal Bulletin Volume 2 of 2020
  • LPC:
    • Watch out for Audit Refund scam doing the rounds
  • CGSO:
    • Q3 Newsletter
  • FSCA publications & press releases:
    • FSCA fines Markus Jooste and others R241 million for insider trading breaches
    • FSCA conducts search operations at Mirror Trading International
    • 3 Warnings issued against fraudulent FSPs
  • SARS:
    • SARS employee arrested in sting operation
    • ​SARS welcomes High Court judgment on taxpayer obligations

General Announcements / News Releases:

• • Media articles:
    • Managing an audit team remotely
    • Cybersecurity provides opportunities for auditors to serve