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 »
Jul 22, 2022 IRBA is requesting comments on the proposed IRBA Rule on Enhanced Auditor Reporting for the Audit of Financial Statements. The proposed IRBA rule deals with additional disclosures in the independent auditor’s report on the audit of annual financial statements, including additional disclosures relating to materiality, audit fees and key audit matters. All …
Jul 29, 2022 Information The Minister of Justice published new prescribed rate of interest in terms of section 1 (2)(b) of the Prescribed Rate of Interest Act, 1975 (Act 55 of 1975). The new prescribed rate of interest is set at 7,75 per cent per annum as from 1 May 2022 for the purposes of section 1(1) …
29 July 2022 Schedule of fees to register entities with Department of Employment and Labour as from 01 July 2022 were published. The list includes fees for asbestos contractors; diving schools, diving contractors, divers, diving supervisors, instructors, and chamber operators; electric fence system installers; electrical installation rules (wireman’s license); explosives managers; first aid training organisations; government …
The ISSB met on 21 July 2022 to review a summary of preliminary feedback gathered during meetings with stakeholders on the exposure drafts: IFRS S1 General Sustainability-related Disclosure Requirements and IFRS S2 Climate-related Disclosures. ISSB Chair Emmanuel Faber and Vice-Chair Sue Lloyd talk through the highlights from this inaugural ISSB meeting. The discussion includes: background on the ISSB; …
Information Jul 27, 2022 The International Auditing and Assurance Standards Board (IAASB) released its First-Time Implementation Guide for ISA 315, Identifying and Assessing the Risks of Material Misstatement. The guide focuses on the more substantial changes that were made to International Standard on Auditing (ISA) 315 (Revised 2019) and will help stakeholders understand and apply the …
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