Monthly Compliance and Legislation Update November 2023

Available from

24 November, 2023

CPD

3

Course Category:

Financial Reporting

Level:

Moderate

Our Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates. November 2023

 

Category: Financial Reporting and Ethics.

R 380 VAT Incl.

Product Information

What you will learn

After attending this webinar you will:

  • Stay up to date with the most important legislation updates;
  • Be aware of the latest legislative changes and what it means for your 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.

 

Description

Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.

Technical expert Lettie Janse van Vuuren CA(SA), RA researches and summarises all relevant and important changes which she then presents in an easily understandable webinar.

The webinar includes:

  • A reference guide of all changes to share within the firm;
  • Slide presentation summary of all new amendments;

 

Price

The following pricing apply:

Adhoc: R380.00

Subscription: Included for free in Accountant in PracticeAccountant in Practice plus Tax, Bookkeeper and QuickUpdate packages.

 

Content

You will get the most up-to-date technical knowledge and legislative updates during this webinar. The final topics will be published closer to the webinar. Our accounting and taxation experts are busy thoroughly researching to ensure all pertinent information is sumarised and made available to you.

Accounting:
  • Standards – What’s new?
    • IFRS Monthly news summary
  • Public Sector
    • Proposed 2024/2025 MCS
    • SCOA classification Circular 44
Auditing:
  • Standards: 
    • IAASB: New 2022 Handbook
  • Legal/Ethics: 
    • 2023 IESBA Handbook now available
    • IAASB new Listed PIE Standard re enhanced auditor reporting
CIPC: Notices and Practice Notes issued (enforcement and to customers):

  • Practice Note 4 of 2023: Filing of documents 
  • Notice: SARS non-compliance notices
Anti-Money Laundering and FICA:  FIC Advisory & Guidance: 

  • Accurate Completion of Risk and Compliance Return + Sanction Notice
  • Guidance for Legal Practitioners
  • Guidance for Registering as an AI
Sustainability & Integrated Reporting:  Important issues:

  • IASB: to explore ways to improve reporting of climate-related and other uncertainties in the financial statements
  • IAASB: ISSA 5000 Materiality FAQ
Technology:  Important issues:

  • Cybersecurity special report
Labour Law:  Employment law:

  • Persons with disabilities in the workplace: Code of Good Practice
  • Any parent is entitled to four months parental leave, high court rules   
Other Laws & Regulations affecting your client AND impact on NOCLAR: 
  • This month’s big 5:
    • SAICA Legal Update 2023:
    1. The Cybercrimes Act: Standard operating procedures for investigation, search, access or seizure;
    2. The Financial Intelligence Centre Act: Draft regulations;
    3. The Public Service Act (Public service regulations); 
    4. The Public Service Commission Bill; and 
    5. The South African Schools Act: Basic Education Laws Amendment Bill.
  • Other acts and articles:
    • SASSA Grant Increases for 2023 & 2024
    • Masters Deceased Estate Online Registration System
    • Chief Master Directive 8 of 2023: New Beneficial Ownership Register for Trust
  • COIDA Update:
    • Confirmation of Life 
SARS:
  • Guides (new, updated & issued):
    • Guide to Section 18A Approval of a Department in the National, Provincial and Local Sphere of Government
    • Guide on the Taxation of Farming Operations
    • VAT 409 – Guide for Fixed Property and Construction (Issue 7)
    • Basic Guide to Section 18A Approval (Issue 5)
  • Operational Guides (new, updated & issued):
    • Guide to submit a dispute via eFiling
    • Guide to the Tax Compliance Status functionality on eFiling
    • SARS Online Query System Guide
    • Comprehensive Guide to the ITR12 Income Tax Return for Individuals
  • Interpretation Notes (updated & issued):
    • Interpretation Note 112 (Issue 2) – Section 18A: Audit certificate
    • Interpretation Note 24 (Issue 5) – Public benefit organisations: Partial taxation
    • Interpretation Note 51 (Issue 6) – Pre-trade expenditure and losses
  • Binding Rulings (Private/Class/General) issued: 
    • Binding General Ruling 62 (Issue 2) – Value-added tax implications of securities lending arrangements
    • Draft Binding General Ruling 16 (Issue 3) – Standard Turnover-based Method of Apportionment
  • Notices and other publications issued:
    • Publication of Explanatory Summary of the Tax Administration Laws Amendment Bill, 2023
    • Discussion paper on VAT Modernisation
  • Taxpayers must be on the lookout for New Scams:
    • Tax Review
    • Notice of Assessment
  • Tax court cases:   
    • Media release – SARS welcomes veil of secrecy judgment 
  • Constitutional court cases:
    • Media Release: Constitutional court decision on duty-free purchases
    • Sasol Chevron Holdings Limited v CSARS (CCT 149/22) [2023] ZACC 30 (3 October 2023)
  • SCA cases:
    • Media release: Court confirms that false returns may attract administrative penalties and criminal prosecution
    • Silverback Technologies CC & Others v CSARS (301/2022) [2023] ZASCA 128 (09 October 2023)

 

Certificate

The following CPD is awarded: Financial Reporting 2 units, Ethics 1 unit.

 

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 is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002, Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.

 

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