Journal of Accountancy by Nathan D. Salsbery, CPA, CGMA August 1, 2022 Follow these do’s and don’ts for auditors when potential wrongdoing surfaces. Auditors know and understand the requirements of standards regarding consideration of fraud risks. However, when faced with a real situation, it is not always easy to decide on the best course of …
August 1, 2022 Journal of Accountancy by Kelly L. Williams, CPA, Ph.D. Information If you are interested to learn about how the new 3D Excel formulas help you to perform certain functions quickly. Learn about: Short cut for adding up figures from different tabs. How to change the case of text in Excel. What to …
29 July 2022 Information The National Treasury and the South African Revenue Service (SARS) published, for public comment, the following 2022 draft Bills: Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2022 draft Rates Bill), first published on 25 February 2022, dealing with changes to the rates and monetary thresholds to the personal …
Draft tax bills are published for public comment Read More »
Information The following amendments were made to tax schedules to give effect to the budget proposals by the Minister of Finance on 23 February 2022: Amendment to Part 1 of Schedule No. 1, by the insertion of Additional Notes in Chapters 19 and 21 as well as new subheadings to provide for preparations for making …
8 August 2022 Information SARS reports high call volumes and extremely long waiting times. Number of SARS branches are also closed for in person visits but online services are available and taxpayers are encouraged to make use of these. You can find the latest status of the SARS tax branches here.
1 August 2022 Information To support the work of the International Sustainability Standards Board’s (ISSB) the IFRS Foundation has announced the completion of the consolidation of the Value Reporting Foundation (VRF) into the IFRS Foundation. This will allow the IFRS Foundation’s resources of leading global sustainability disclosure initiatives to work with the ISSB to develop …
IFRS Foundation and Value Reporting Foundation Consolidation Completed Read More »
5 August 2022 Information The current excise duty regime applies a flat excise rate of 34.7c/kg for traditional African beer powder. From 1 October, however, all alcohol powder products classified as preparations for use in the manufacturing of alcoholic beverages will be taxed at the same rate. Manufacturers of these products must apply to …
Excise duty charges for all alcohol powder products Read More »
1 August 2022 Study by IFAC, AICPA and CIMA Information The study examined global trends in both sustainability-related reporting and related assurance services. The results of the study show that increasing number of companies obtain independent assurance on sustainability data. It was found that: 58% of global companies obtained ESG assurance in 2020 Assurance engagements …
More companies obtain assurance reports on sustainability data global study shows Read More »
1 August 2022 Information How should auditors include going concern related issues in the auditor’s report? IAASB issued a non-authoritative Frequently Asked Questions (FAQ) publication to address some of the common questions related to reporting going concern matters in the auditor’s report. Specifically, the publication focuses on the use of and interrelationship of the Material Uncertainty …
New FAQ publication for reporting going concern matters Read More »
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