Business Health Check – Solvency and Liquidity 2019 Dr John W. Hendrikse Learning objectives By the end of this event the participant should: Know what liquidity risk is. Understand how to mea sure liquidity risk. Understand competent cash management. Understand working capital management. Understand how to provide useful feedback on an entity's solvency. Content The webinar will cover the following topics: What is liquidity? Measuring liquidity risk; Cash flow and cash flow management; What is working capital? Working capital management; and Reporting on solvency and liquidity.
Practice Management - Insurance products available for accounting and auditing firms 2019 Presenter: Robert Whitecross Learning objectives After attending this webinar you should understand: What can be insured w ithin your firms activities. Products available. Course content How to perform a regular insurance needs analysis. Types of insurance available: Building liability; Malpractice; Fiduciary obligations; Trustee coverage; Employee Practices Liability; Business interruption coverage; Motor and office coverage; Life/ disability coverage for financial risks to the firm relating to key employees/ directors; and Cyber Risk Insurance.
Compliance and Legislation Update - August 2019 Presenter: Lettie Janse van Vuuren Learning objectives After attending this webinar you will: Be aware of the latest legislative changes and what it means for yo ur 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: SARS: Guides (updated & issued): VAT FAQs: Supply of electronic services (Issue 3) Binding Rulings (Private/Class/General) issued and updated: BPR 321 – Surplus retirement fund assets BPR 322 – Equity linked note BPR 323 – Debt reduction by means of set-off BCR 068 – Surplus retirement fund assets Notices and other publications issued: Notice 997 – SARS’s Manual on the Promotion of Access to Information Act, 2000 Table 3 of Interest rates has been updated (Rates at which interest-free or low interest loans are subject to income tax) 2019 Draft TLAB & TALAB published for comment Tax cases: IT 14287 – Whether the Appellant is liable for tax in terms of section 64 of the Income Tax Act IFRS: Standards – What’s new? IFRS Monthly news summary IRBA: Standards: Important Alert: Updated Illustrative Wording - Implications of the effective dates of the IRBA Code of Professional Conduct for Registered Auditors (Revised November 2018) on the Assurance Provider’s Report Legal/Ethics: IESBA Launches the eCode Guidance: Illustrative Auditor's Report for Engagements on the Compliance of the Attorneys' Trust Accounts with the Attorneys Act and the Rules for the Attorneys' Profession, as well as the Legal Practice Act and Legal Practice Council Rules CIPC: Notices and Practice Notes issued (enforcement and to customers): 3 notices issued (re Commencement of Deregistration Notification to Companies and Close Corporations, Unauthorised use of CIPC name, abbreviations and logo, 2019 XBRL Taxonomy) Companies Tribunal: 5 Decisions reached on cases heard (2 Name disputes, 1 AGM, 1 Exemption from SEC, 1 Directorship dispute) Labour Law: Employment law: How will legislation change for domestic employees in South Africa? Other Laws & Regulations affecting your client AND impact on NOCLAR: This month’s big 5 include: The Competition Act (Amendment Act commencements); The Income Tax Act (Draft Tax Administration Laws Amendment Bill 2019); The Income Tax Act (Draft Taxation Laws Amendment Bill 2019); The Tax Administration Act (Draft Tax Administration Laws Amendment Bill 2019); and The Value-added Tax Act (Draft Taxation Laws Amendment Bill 2019). This month’s little 5 include: The Competition Act (Definition of small and medium business); The Skills Development Act (Re-establishment of SETAs); The Financial Services Board Act (Levies on financial institutions); The National Water Act (General authorisations for water use); and The Special Investigating Units and Special Tribunals Act (Investigations). Regulator news: IRBA News & press releases: Operations: Clarification of 2019 Fees Payable to the IRBA Executive: IRBA News #46 (includes the NEW CPD policy for Registered Auditors – planned effective date = 1 January 2020) SAICA Guidance & other publications: Top tips for SMPs (Small and Medium Practices) SAICA: Analysis of the Changes to the Legal Profession relevant to Accountants and Auditors (issued in July 2019) SAICA SMP Newsletter Companies Tribunal: New on-line case management system launched SAIBA: SAIBA objects to the Draft CA Charter SAIBA makes practical suggestions: To CIPC: to have RI for IRs included when you do the submission of your annual return To the Companies Tribunal: to have an automatic extension to submit financial statements, from 6 to 9 months, where a company/CC has a PIS<100 FIC Advisory & Guidance: Financial Action Task Force public statement on jurisdictions with strategic anti-money laundering and counter-terror financing deficiencies FATF ongoing process to improve global AML/CFT compliance Outcomes of the June 2019 meeting of the FATF 2019 FIC Awareness Roadshow CGSO & National Consumer Commission: The CGSO warns the public about S.A. Trampoline CGSO Stakeholder Newsletter SARS media releases: eFiling Changes – 2019 Filing Season Update on 2019 Filing Season FSCA publications & press releases: Statement on successful recoveries on MCPF (Municipal Councilors Pension Fund) FSCA provisionally withdraws license of Stringfellow Financial Services (Pty) Ltd 4 Warnings issued to the public against fraudulent FSPs General Announcements / News Releases: Media articles: None
Budgeting and cash flow management 2019 Presenter: Caryn Maitland CA(SA) Learning objectives By the end of this event the participant should: Know the difference between financial reports and management accounts. Understand the importance of cashflow management. Understand how to prepare a cashflow forecast. Know how to properly manage overheads and other costs. Know how management accounting reports assist in business survival. Content The webinar will cover the following topics: Financial reporting vs management accounting; The importance of budgeting in business; Using budgeting techniques in business; Creating a practical cashflow forecast; Costs control in business; and Identifying tiggers and red flags that indicate risks of insolvency and going concern challenges
SARS, IRBA & CIPC Compliance 2019 Presenters: Cuma Zwane & Adv. Thikhathali Naphtan Mulaudzi Learning objectives By the end of this event the participant should understand the administrative compliance issues required of acco untants, auditors and tax practitioners with regard to the: Tax Administration Act and penalties for non-compliance; CIPC's filing deadlines and penalties for non-compliance; CIPC compliance notices; Latest general legislative updates affecting accountants, auditors, bookkeepers and tax practitioners; IRBA and professional body compliance for practice visits and reviews. Course content The following topics will be covered in detail during the event: Recent compliance and legislative updates affecting accountants, auditors, and tax practitioners: SARS: New rulings, tax cases, interpretation notes, SARS guides and operational issues feedback including; CIPC: Compliance requirements, amendments, operational issues, new notices, business rescue and other matters, including XBRL and CIPC audits; IRBA: Announcements, newsletters, new guides, amendments and related matters affecting the profession, including: Inspection report; Access to working papers; Practice reviews; Ethics: NOCLAR and reporting irregularities. Other laws: Updates on other laws POPI, COIDA, Labour. Practice matters: Some of the issues to be covered include, revised engagement letters, Template for Independent Review Engagements, JSE listing requirements, AGSA audits, access to working papers, medical schemes accounting, engagement letters for non-assurance services, retention of records, and accounting for BEE transactions. IFRS: Update on recent Exposure Drafts.
Governance, King IV, Risk 2019 Presenter: Dr Advocate Leigh Hefer Learning objectives By the end of the webinar the participant should be able to: Understand the concepts driving corporate governance. Understan d the structure and flow of King IV. Understand how to apply King IV in his/ her company. Be able to explain to their Boards their duties and responsibilities as presented by King IV and the Companies Act. Be able to apply a checklist to test compliance with King IV. Course content The course will cover the following topics: What is King IV? The 17 principles contained in King IV; Mandatory King IV recommendations; Application and legal status of King IV; Risk avoidance as guided by King IV; and King IV compliance checklist.