Monthly Compliance and Legislation Update - September


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 - September

CPD Hours: 2

Price: R399.00


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Monthly Compliance and Legislation Update - September


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 

  • Accounting issues 

    • ASB: Updated FAQ on the standards of GRAP (July 2021) 

IRBA: 

  • Standards:  

    • IAASB: Proposed ISA for LCE 

    • Guide for Registered Auditors: Guidance on Performing Audits on behalf of the AGSA (Revised August 2021) 

  • Legal/Ethics:  

    • IESBA: Proposed Quality Management-related Conforming Amendments to the Code 

    • IRBA: Revisions to the Code Addressing the Objectivity of an Engagement Quality Reviewer and Other Appropriate Reviewers 

  • Other:  

    • IRBA to refer non-audit complaints to professional bodies 

    • IRBA guide on the implementation of search and seizure provisions published for comment 

CIPC: 

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

    • Notice 39 of 2021 & Practice Guideline re Independent Review  

    • Temporary change in submission requirements for changes to company MOI (FORM COR15.2)  

    • External Company Registration (FORM COR20.1)  

    • Status on file transition to the new bulk storage facility  

Labour Law: 

  • Employment law: 

    • Mandatory Vaccinations in the Workplace – an opinion piece 

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

  • This month’s big 5: 

    • Volume 16 Issue 14 covers new relevant National laws up to xx August 2021 

    • Volume 16 Issue 15 covers new relevant National laws up to xx August 2021 

  • Other acts and articles: 

    • The Profile of Occupational Health and Safety in South Africa 

    • PAIA Regulations 2021 

SARS: 

  • Guides (new, updated & issued): 

    • General: Taxation in South Africa 2021 

    • Income Tax Act, 1962: Guide on Income Tax and the Individual (2020/21) 

    • Guide on the Taxation of Franchisors and Franchisees (Issue 2) 

    • How to Register for eFiling and Manage Your User Profile – External-Guide 

    • SARS: Basic Guide to Tax Exemption for Public Benefit Organisations (Issue 3) 

    • Draft Tax Exemption Guide for Institutions, Boards or Bodies 

    • Draft Tax Exemption Guide for Companies Wholly Owned by Institutions, Boards or Bodies 

  • Interpretation Notes (updated & issued): 

    • Draft IN – Draft Interpretation Note – Reduced Assessments: Meaning of “Readily Apparent Undisputed Error”  

    • Draft Interpretation Note on Disposal of Assets by Deceased Person, Deceased Estate and Transfer of Assets between Spouses 

    • Interpretation Note 43 (Issue 8) – Circumstances in which Certain Amounts Received or Accrued from the Disposal of Shares are Deemed to be of a Capital Nature 

    • Interpretation Note 79 (Issue 3) – Produce Held by Nursery Operators 

    • Interpretation Note 69 (Issue 3) – Game Farming  

  • Notices and other publications issued: 

    • eBooking enhancements 

    • SARS eFiling browser now includes MAC users 

    • Updated BRS – PAYE Employer Reconciliation 

    • New SARS tutorial videos 

    • National Legislation: Second batch of draft bills and draft explanatory notes on the emergency tax relief measures  

    • MobiApp enhancements 

  • Taxpayers must be on the lookout for New Scams: 

    • Final demand scam 

Regulator news: 

  • SAICA press releases and other publications: 

    • SAICA Frequently Asked Question (FAQ) on the IFRS for SMEs Standard 

  • SAIBA press releases and other publications: 

    • Newsletters: 

  • CIPC:  

    • The protection of personal information and the CIPC 

  • Companies Tribunal:  

    • 8 Cases finalised in AUGUST 2021 

  • Information Regulator:  

    • Information Regulator acknowledges receipt of 7 Codes of Conduct 

    • PAIA Manual templates published (in Word-format) 

    • PAIA forms 1, 2, 4, 5 and 13 published 

  • LPC:  

    • REMEMBER! Deadline extended: Legal Practitioner’s Trust Accounts 

  • FSCA publications & press releases:  

    • Use of electronic signatures and prepopulated documents 

    • FSCA hits Viceroy with R50m penalty 

    • 9 Warnings issued against fraudulent FSPs 

  • Competition Commission:  

    • Draft Guidelines on collaboration between competitors on localisation initiatives 

  • King Committee:  

    • 3 Guidance papers released 

  • SARS:  

    • 48 years for defrauding taxpayers 

    • Media Release – SARS to recover debt of R15m for non-payment of PAYE, VAT 

    • Media Release – Company director ordered to pay back the money to SARS 

    • SARS Tender Fraud Alert 

    • Media Release – SARS update on filing season for individuals and trusts 

    • VAT Connect Newsletter 

    • Latest Tax Practitioner Newsletter 

General Announcements / News Releases: 

  • Media articles:  

    • Are your remote working policies in accordance with the law 

    • Bizcommunity article 

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