Monthly Compliance and Legislation Update - October


CPD hours: 2 Hours

Price: R399.00

Video Type: Single

Presenter: Caryn Maitland CA(SA)
Owner, Maitland & Associates
...

Monthly Compliance and Legislation Update - October

CPD Hours: 2

Price: R399.00


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Title / Topic

Monthly Compliance and Legislation Update - October

Presenters : Caryn Maitland CA(SA)


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 workplan update 

  • Accounting issues 

    • Investor perspectives: Disclosures in financial statements reflect investor needs 

    • Right-of-use assets (Conceptual Framework issues) 

IRBA: 

  • Standards:  

    • Quality Management Standards: IFAC - First-time Implementation Guide for ISQM 1 Updated and Reissued  

    • ISA315 (Revised): Identifying and assessing the risks of material misstatement - Effective date reminder.  

  • Legal/Ethics:  

    • Staff Audit Practice Alert 6: Protection and Retention of Client Data 

CIPC: 

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

    • Companies Act Amendment Bill 

    • Re-registration of companies and CCs due to failure to submit returns 

    • Notice No. 48 of 2021: Notice to accounting and auditing professional bodies: Independent Review Survey 2021 

    • Notice No. 49 of 2021: Important changes to CIPC electronic platforms relating to short standard private and short standard non-profit without members company registrations 

    • Notice No. 50 of 2021: Filling of joint business rescue practitioner appointments 

COVID-19 Updates: 

  • New announcements and guidance 

    • IFAC COVID-19 Response to Recovery 

    • Lockdown adjusted to Alert Level 1 

    • Vaccines registrations open for 12 to 17 year-olds 

    • The right to refuse a vaccination is not cast in stone (article)  

Labour Law: 

  • Employment law: 

    • Proposed amendments to the Employment Equity Act 

    • Is your company conducting disciplinary hearings in line with legislation? (article) 

    • Is it fair discrimination to exclude unvaccinated people (article) 

    • To be or not to be.… vaccinated against Covid-19 (article) 

    • Quantifying compensation for unfair dismissal - Labour Relations Act (article) 

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

  • This month’s big 5: 

    • This month's issue 17 Vol 16 covers new national laws up to 1 October 2021 

    • The big 5 include: 

      • The Companies Act (Draft Companies Amendment Bill) 

      • The Constitution of the Republic of South Africa (Constitution Eighteenth Amendment Bill) 

      • The Disaster Management Act (COVID-19 regulations) 

      • The Financial Sector Laws Amendment Bill 2020 

      • The Liquor Products Act (Liquor Products Amendment Act) 

SARS: 

  • Refer to September and October 2021 Maitland and Associates Tax Newsletter distributed to attendees.  

Regulator news: 

  • IRBA 

    • 48% of JSE Listed Entities have rotated auditors 

    • Fraud and the role of auditors - what more can be done to detect fraud risk? 

  • SAIBA 

    • Accounting Weekly Newsletter  

    • CFO Talks 

  • CIPC 

    • CIPC enforces Sec 30 of the Companies Act: High Court orders JCI Ltd to pay the CIPC an administrative fine of R1 million 

    • Considering business rescue for financially distressed companies (article) 

    • Revisiting blockchain technology and intellectual property (article) 

  • Consumer Regulator (CGSO): 

    • Can money in your account be used when it belongs to someone else (article)   

  • Information Regulator 

    • The impact of the Cybercrimes Act on electronic communication (article) 

    • Further obligations of an information officer in terms of PAIA (article) 

    • Disclosure of medical or confidential information - when it is permitted (article) 

General Announcements / News Releases: 

  • Media articles:  

    • Artificial intelligence identified as inventor of a patent 

    • Don't mess with neighbourhood watches in communities 

    • Department of Agriculture takes steps to prevent misleading descriptions 

    • Are influencers inciting their followers to buy counterfeit products? 

    • Are tests for provisional and final liquidation orders really different? 

    • Understanding the legal implications of property sale agreements 

 

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