Webinars On-Demand

Accounting:  

• Standards – What’s new? 

  • IFRS Monthly news summary 

Auditing:  

• Sustainability Standards:  

  • IAASB: Proposed Global Sustainability Assurance Standard ISSA 5000 

  • IAASB: FAQs - Proposed ISSA 5000 

  • Post-implementation Review of SAAEPS 1: Sustainability Assurance Engagements 

• Other:  

  • AGSA: Public Audit Act: Audit directive for 2023 

  • IFAC: QM Series: Small Firm Implementation: Instalment 2 

CIPC: 

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

  • Notice 43 of 2023: Validation of CIPC email address for requesting confirmation or evidence to information submitted to company services 

  • Notice 47 of 2023: Commencement of deregistration notification for companies and CCs  

  • Notice 53 of 2023: Enforcement of beneficial ownership filings and securities registers as from 1 October 2023 

  • Companies Act Regulation: Domicilium et executandi requirements updated 

  • Compliance checklist report 

Anti-Money Laundering and FICA: 

• Important issues: 

  • FIC Amendment Act: More Sections in force 

  • PCC 6A: Guidance on the Definition of Trust and Company Service Providers 

  • FICA: Failure to report electronic transfers to or from the Republic 

Labour Law: 

• Employment law: 

  1. Dept of Labour: Employers face fines per National Minimum Wage Act (NMWA)  

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

• This month’s big 5: 

  • SAICA Legal Update 2023 Volume 18 Issue 14 covers new relevant National laws up to 21 Aug 2023: 

    1. The Companies Act: Domicilium et executandi;  

    2. The Financial Intelligence Centre Act: Failure to report electronic transfers;  

    3. The Foodstuffs, Cosmetics and Disinfectants Act: Draft labelling and marketing of foodstuffs regulations;  

    4. The National Environmental Management Act: Environmental impact assessment regulations; and  

    5. The Draft Tax Administration Laws Amendment Bill and Draft Taxation Laws Amendment Bill. 

  • SAICA Legal Update 2023 Volume 18 Issue 15 covers new relevant National laws up to 1 Sep 2023: 

    1. The Companies Act: Amendment Bill and Second Amendment Bill;  

    2. The Electricity Regulation Act: Amendment Bill;  

    3. The National Nuclear Regulator Act: Amendment Bill;  

    4. The Regulation of Interception of Communications and Provision of Communications-related Information Act: Amendment Bill; and  

    5. The Special Investigating Units and Special Tribunals Act: Gauteng department of health and Tembisa Hospital. 

• Other acts and articles: 

  • Companies Amendment Bills tabled 

  • DoL: EE Compliance Certificate to be a prerequisite for access to state contracts  

• COIDA Update: 

  • COID: Draft Regulations on Rehabilitation and Return 

  • Dept of Labour: Compensation Fund vocational rehabilitation and re-integration programme offers lifeline to injured employees and dependents 

SARS: 

• Guides (new, updated & issued): 

  • New Guide to the Voluntary Disclosure Programme 

  • Updated Guide for Tax Rates/Duties/Levies (Issue 16) 

  • Updated eBooking Guide: Book your appointment with SARS 

  • Updated VAT Rulings Process Reference Guide (Issue 2) 

  • Updated VAT Section 72 Decisions Process Reference Guide (Issue 2) 

• Interpretation Notes (updated & issued): 

  • Interpretation Note 110 (Issue 2) – Leasehold improvements 

  • Interpretation Note 109 (Issue 2) – Leasehold premiums 

  • Interpretation Note 107 (Issue 2) – Deduction in respect of commercial buildings 

  • Draft Interpretation Note – Determining the calorific value of coal for purposes of the royalty 

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

  • Binding General Ruling 65 – Value-added tax treatment of rounding difference in cash transactions 

• Notices and other publications issued: 

  • Proposed Sec 11G (draft legislation) to replace Practice Note 31 of 1994 

  • Clarity on ITR12T 

  • Update on the distribution of funds to non-resident Trusts by resident Trusts 

  • Value-added tax Notice R.3780​ 

  • Enhancements to the eBooking system 

  • How will SARS debt outsourcing work? 

  • Third Party Data Bi-Annual Submissions 

  • SARS introduces document encryption to protect taxpayer confidentiality 

  • Tax Directive system enhancements scheduled for September 2023 

  • Supporting documents for Tax Compliance Status for foreign investment allowance 

  • SARS welcomes constitutional court judgment in Regiments Capital matter 

• Tax court cases: 

  • SARSTC IT 45638 (IT) [2023] ZATC CPT (19 July 2023) 

• SCA cases: 

  • PFC Properties (Pty) Ltd v CSARS and Others (543/21) and Brita De Robillard NO and Another v PFC Properties (Pty) Ltd and Others (409/22) [2023] ZASCA 111 (21 July 2023) 

• SARS: Taxpayers must be on the lookout for new scams: 

  • Email asking to click on Returns link 

  • Audit statement 

  • SMS payment from SARS 

Regulator news: 

• IRBA News & press releases: 

  • Plans to issue new rules in the next few months 

• SAICA press releases and other publications: 

  • Feedback Summary: OTO/RCB Engagement and SARS EC/RCB Stakeholder Meeting (Jul/Aug 2023) 

  • Guidance updated: Assessing proficiency in the Professional Values & Attitudes and Acumens (PVAA) Learning Outcomes 

  • Submission on the IAASB Exposure Draft: Proposed ISA 570 (Revised 202X) Going Concern 

• CIBA press releases and other publications: 

  • Various guides available to members 

  • Feedack summary: OTO 

  • Newsletters 

    • CFO Talks (CFO Talks™ is devoted to sharing ideas and conversations between CFOs. It is a platform which facilitates insightful and powerful talks relevant to CFOs) 

    • Accounting Weekly (weekly newsletter) 

• CIPC:  

  • CIPC lauds the seizing of counterfeit clothing and footwear: a bold step towards economic growth and sustainable job creation 

  • CIPC clamping down on reckless conduct and non-compliance 

• Companies Tribunal:  

  • 12 Cases finalised in Aug 2023  

• Information Regulator:  

  • Enforcement notice issued to Dis-Chem due to contravention of POPIA 

• PPRA:  

  • Late submissions of 2023 Audit report update 

• CSOS: 

  • Practice Directive: POPIA re Administration of a Community Scheme 

• FSCA publications & press releases:  

  • The FSCA publishes list of employers in arrears for retirement fund contributions 

  • FSCA Statement on Administrative Sanction imposed on Jannie Parsons Future Financials (Pty) Ltd 

  • FSCA gears up to launch the new Trustee Training Toolkit e-learning platform 

  • FSCA Financial Literacy Speech Competition 2023 Inspires Financial Awareness Amongst Learners 

  • FSCA Retail Financial Customer Behaviour and Sentiment Study results 

  • 7 Warnings issued against 

• CGSO:  

  • Launch of 2022-23 Annual Report 

  • Special Edition Newsletter 

• OTO:  

  • Newsletter - Fair Play Issue 30 

• National Treasury:  

  • Energy Bounce Back Loan Guarantee Scheme Launched 

• SARS:  

  • Latest VAT Connect Newsletter – Issue 16 

  • Latest Tax Practitioner Newsletter – Issue 45 

  • Latest Government Connect Newsletter – Issue 12  

General Announcements / News Releases: 

• Media articles:  

  • Payment of employees where public holiday falls on a Sunday 

  • Old Mutual readies for high pension savings cash-outs as two-pot day nears