May 18, 2022

Understanding the power of integrating social media marketing into marketing strategies

Notice With an average of over 900,000 new social media users every day, social medial is increasingly becoming the channel of choice in terms of use as a marketing tool. Information and Implications Social media facilitates interaction between businesses and consumers, and consequently, has seen rapid growth as a communication channel in South Africa. The …

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Compensation for Occupational Injuries and Disease Act notices

Law / By Naledzani Mamuremu

Notice Notice 1Compensation for Occupational Injuries and Diseases Act: Assessment of employers notice gazetted stating maximum earnings on actual earnings is R506 473 (1 March 2021 to 28 February 2022); maximum earnings on provisional statement is R529 264 (1 March 2022 to 28 February 2023); minimum assessment for commercial employers is R1 342; and minimum …

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The Minister of Health published Regulations relating to the Surveillance and Control of Notifiable Medical Conditions

Law / By Naledzani Mamuremu

Notice On 4 May 2022, the Minister of Health, Dr MJ Phaahla published the Regulations Relating to the Surveillance and Control of Notifiable Medical Conditions: Amendment (Regulations) in terms of sections 90(1)(j), (k) and (w) of the National Health Act 61 of 2003 (NHA). The Regulations came into effect upon publication. Information and Implications Regulation …

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Tax Directives legislative changes implemented from 25 April 2022

Tax / By Naledzani Mamuremu

Notice The guide to Complete Tax Directive Application Forms was updated with certain legislation changes. Information and Implications Legislative changes to the Tax Directives process have been implemented by SARS. The following information is important for Fund Administrators, Insurers, Tax Practitioners, Advisors and taxpayers:1.) Taxpayers who are members of a pension preservation or provident preservation …

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Pay-As-You-Earn (PAYE) disputes and penalty remission requests manually submitted no longer accepted from 25 Apr 2022

Tax / By Naledzani Mamuremu

Notice From 25 April 2022 the PAYE request for remission or dispute process for Administrative penalties is available only on SARS eFiling. Information and Implications SARS will no longer accept manually filed PAYE disputes and penalty remission requests. The PAYE request for remission or dispute process for Administrative penalties is now available on the existing …

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SARS released trade statistics for March 2022

Tax / By Naledzani Mamuremu

Notice The South African Revenue Service (SARS) released trade statistics for March 2022 recording a preliminary trade balance surplus of R45.86 billion. Information These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 31 March 2022) preliminary trade balance surplus of R62.10 billion is a deterioration from the …

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Fourth and Final Publication in Series Exploring Ethics in an Era of Complexity and Digital Change Released

Ethics / By Naledzani Mamuremu

Notice On 27 April 2022 the final publication in a four part series discussing ethical leadership in an era of complexity and digital change was released after a global roundtable event held jointly with Chartered Professional Accountants of Canada (CPA Canada) and the Institute of Chartered Accountants of Scotland (ICAS). Paper 4 is entitled: “Mindset …

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Report on IESBA Accomplishments for 2020 and 2021 released

Ethics / By Naledzani Mamuremu

Notice The International Ethics Standards Board for Accountants (IESBA) released on 4 May 2022 the report, Elevating Ethics and Independence Standards for a Complex World, which summarises the Board’s accomplishments for 2020 and 2021. Information The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, …

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Revised Illustrative Section 15 Retirement Fund Agreed-upon Procedures Reports

Accounting / By Naledzani Mamuremu

Notice The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards,at its meeting on 1 March 2022, approved the following revised Illustrative Section 15 Retirement Fund Agreed-upon Procedures Reports: Ordinary Funds Umbrella Funds; and Retirement annuity and preservation Funds. Information The revised illustrative regulatory reports have been updated for the following: The International Standard …

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Non-authoritative guidance on Fraud in an Audit of Financial Statements

Accounting / By Naledzani Mamuremu

Notice On 5 May 2022 the IAASB published non-authoritative guidance called “The Fraud Lens – Interactions Between ISA 240 and Other ISAs”. Information ISA 240 both expands on certain ISAs as well as provides fraud-specific audit procedures that complement the other ISAs. In doing so, ISA 240 broadly focuses on the auditor’s fraud lens when …

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Understanding the power of integrating social media marketing into marketing strategies

Compensation for Occupational Injuries and Disease Act notices

The Minister of Health published Regulations relating to the Surveillance and Control of Notifiable Medical Conditions

Tax Directives legislative changes implemented from 25 April 2022

Pay-As-You-Earn (PAYE) disputes and penalty remission requests manually submitted no longer accepted from 25 Apr 2022

SARS released trade statistics for March 2022

Fourth and Final Publication in Series Exploring Ethics in an Era of Complexity and Digital Change Released

Report on IESBA Accomplishments for 2020 and 2021 released

Revised Illustrative Section 15 Retirement Fund Agreed-upon Procedures Reports

Non-authoritative guidance on Fraud in an Audit of Financial Statements

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