Monthly Update – Compliance and Legislation December 2020

Study unit 1 -IFRS – Standards & Accounting Issues

IFRS Monthly news summary
Headline Earnings Circular published for comment
Review of Merger and Acquisition accounting
Accounting for common control
Proposed amendments to IFRS 16 (Sale and leaseback)
Educational material: Climate change impact on financials

Study unit 2 – IRBA – Standards & Legal/Ethics

Auditing Profession Amendment Bill
Enabler vs Victim by Prof Wiseman Nkulu
BEIS Report on the Future of Audit
Sir D Bydon’s Report of the Independent Review of the Quality and Effectiveness of Audit
International Benchmarking
Financial Reporting Council Developments
IAASB Developments
IESBA Developments
Reminder concerning IRBA’s new CPD policy
Disciplinary Committee’s merits ruling on African Bank matter

Study unit 3 – CIPC – Notices and Practice Notes issued

Notice 51 and 54 of 2020: Uploading of new eServices for online Co-Op registrations
Balance of notices relate to administration issues
Last notice done by Lettie in Nov MCLU – Notice 49

Study unit 4 – Covid-19 Updates

Article of interest: How COVID-19 will impact December leave for workers in South Africa 

Study unit 5 – Labour Law

See COVID-19 update regarding leave 

Study unit 6 – Other Laws & Regulations affecting your client AND impact on NOCLAR: 

This month’s big 5: 

Issue 19 covers new relevant National laws up to 7 December 2020:

• The Auditing Profession Act (Amendment Bill 2020);
• The Compensation for Occupational Injuries and Diseases Act (Domestic Workers);
• The Cybercrimes Bill (Version D);
• The Disaster Management Act (Regulations and Directions); and
• The Financial Advisory and Intermediary Services Act (Draft Regulations)

Other acts and articles:
The Cybercrimes Bill 

Study unit 7 – SARS

Refer to December and November 2020 Maitland and Associates Tax Newsletter attached 

Study unit 8 – Regulator news

SAICA: Quarterly update on Disciplinary Outcomes
SARS: Newsletters

Study unit 9 – General Announcement/News release

KPMG Report (UK) The New Customer
FM: To fight fraud, manage culture
The case for Outsourcing Collections at Accounting Firms (CPA)
IFAC – Enhancing Firm Credit Control and Fee Collection
IFAC – Anti Money Laundering – The Basics
IFAC – Accountants Supporting Sustainable Recovery

REQUIREMENTS

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date.

PRESENTER

Caryn Maitland CA(SA)

Caryn Maitland CA(SA) has been a member of IRBA as a registered auditor and accountant since 2002. She has lectured Auditing, Financial Management and Accounting at various institutions for learners up to the MBA and Postgraduate Diploma levels. She has also conducted independent workshops and seminars for professional accountants since 2006 on various topics. Between 2011 and 2013, Caryn had a two-year stint as visiting Associate Professor at the University of Limpopo. 

Caryn is also a platform presenter for SA Accounting Academy, ICB and Chartered Secretaries of SA. Since 2018 she has worked extensively with commerce and industry, assisting analysts, directors and other users of financials to interpret, prepare, analyse and forecast based on the results of financial statements.

ADDITIONAL MATERIAL