Monthly Update – Compliance and Legislation June 2024

Available from

28 June, 2024

CPD

Course Category:

Financial Reporting

Level:

Moderate

Our Monthly Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates from the previous months. This helps you, our client to stay up-to-date on recent and important legislation developments in auditing, accounting, tax, SARS operations, CIPC operations, Labour and other relevant laws. June 2024

Category: Financial Reporting and Ethics.

R 304 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 Caryn Maitland CA(SA) researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar. 

The webinar includes: 

A reference guide of all changes to share within the firm; 
PPT summary of all new amendments;
Interactive session with the presenter; and
Online Q&A.

Stay up-to-date on recent and important legislation developments in auditing, accounting, tax, SARS operations, CIPC operations, Labour and other relevant laws by joining us for the webinar.

Price

The following pricing apply:

Adhoc: R304.00

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

Content

These are examples of the topics covered that will include legislative, regulatory, industry standards, items and guides that have been issued and/or updated during the preceding month and will be covered in the webinar: 

IFRS:	Standards – What’s new? IASB – May update meeting IASB – Financial Instruments with Characteristics of Equity (Agenda Paper 5) IASB – Post-implementation Review of IFRS 15 Revenue from Contracts with Customers (Agenda Paper 6) IASB – Post-implementation Review of IFRS 9—Impairment (Agenda Paper 27) IASB – Second Comprehensive Review of the IFRS for SMEs Accounting Standard (Agenda Paper 30) IASB – Rate-regulated Activities (Agenda Paper 9) IFRS – Proposed IFRS Accounting Taxonomy Update—Contracts for Renewable Electricity (oral update) IFRS – IFRS 19 Subsidiaries without Public Accountability – Disclosures IFRS – Keep talking about IFRS 18 Primary Financial Statements Accounting issues IFRS – IASB proposes amendments for renewable electricity contracts IFRS – IASB issues narrow-scope amendments to classification and measurement requirements for financial instruments
IRBA:	Other IRBA – Staff Practice Note 10: Acceptance and Continuance of Client Engagements IRBA – Guide for Registered Auditors: Joint Audit Engagements (Revised May 2024) IRBA – Invitation to Participate in a PSSC Survey on Guidance for Auditing in the Public Sector Council for Medical Schemes Publication that Impacts Auditor’s Reports
CIPC:	Notices and Practice Notes issued (Enforcement and to customers): Notice 40 of 2024: Masking of information on COR39 proposed changes Notice 39 of 2024: Incorporating beneficial ownership information with annual return filings for companies and close corporations Notice 38 of 2024: Payment reference for direct deposits Notice 37 of 2024: Foreigner assurance service Media release 3 of 2024: CIPC pioneers environmentally friendly solution for confiscated counterfeit goods, creating job opportunities for SMMEs New reminder – Appointing and resignation of auditors using online services
Financial Intelligence Centre (FIC)	FIC Advisory & Guidance Extension on submissions of Beneficial Ownership Registrations until 5 July 2024 Consultation Feedback – PCC121A Guidance on Beneficial Ownership Media Release: Collaboration between domestic and foreign agencies stymies crime FIC Updated Booklet – AML and CTF Legislation The significance of FICA compliance – Why it matters to all of us
Sustainability & Integrated Reporting	Important issues: Sustainability IFRS – IFRS Foundation and African Development Bank to join forces to promote sustainability-related financial disclosures IFRS – GRI and IFRS Foundation collaboration to deliver full interoperability that enables seamless sustainability reporting Important issues: Technology A ‘next-generation radio frequency spectrum policy for economic development’ was gazetted AI in Financial Auditing: KPMG Predicts Major Shift by 2027 (Accountancy Age) Cyber security governance – The reality of board member liability in cyber attacks, data breaches _ The legal landscape of intellectual property, data privacy and AI
Labour Law:	Employment law: Dept of Employment and Labour partners with the IDC. Notice 2390 of 2024 – Confirmation of the Maximum Earnings on Provisional Assessment Dept of Employment and Labour – Labour inspectors may by law enter any premises without appointment to perform duties Dept of Employment and Labour – OHS has to keep up with developing in terms of labour laws Dept of Employment and Labour – Misrepresentation on employment equity is a criminal act Compensation for Occupational Injuries and Diseases Act: Draft prescription of claims Compensation for Occupational Injuries and Diseases Act: Draft registration of third party transacting with the Compensation Fund
Other Laws & Regulations affecting your client AND impact on NOCLAR:	Other acts and articles: National Health Insurance Act Pension Funds Amendment Act Financial Intelligence Centre Act: Draft directive on travel rule relating to crypto asset transfers South African Schools Act: Basic Education Laws Amendment Bill
SARS:	Guides (new, updated & issued): See Maitland & Associates Inc News Round Up – May 2024 distributed to attendees.
Regulator news:	CIBA Accounting Weekly Newsletter CFO Talks Various guides are available to members in good standing IRBA IRBA – IRBA Announces Measures to Enhance Pipeline of Registered Candidate Auditors and Boost Profession’s Appeal Information Regulator PAIA Manual submission deadline 30 June 2024 Companies Tribunal 2 name disputes 1 Director’s dispute 1 exemption Competitions Commission Competition Commission to tackle data centre operators in South Africa SARS SARS clarifies new rules for buying from Amazon – BusinessTech FCSA publications FSCA warns the public against Arbitrawallet (Pty) Ltd FSCA warns the public against Trident Global (Pty) Ltd and Mr Richard Clark 7 May 2024 FSCA issues public warning against RNI Aquaculture FSCA warns the public against individual(s) impersonating the FSCA and its staff FSCA warns the public about SpaceX Investment and SpaceX-Shares-Investment. FSCA warns the public against persons or entities that may be unlawfully conducting unauthorised financial services business 28 May 2024 FSCA warns the public against a telegram scam impersonating Denker capital (Pty) Ltd FSCA debars and imposes an administrative penalty on Mr Luan Krige

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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