Partnerships

Fasset Training Incentive Grant (TIG)

Fasset in partnership with SAIBA and in association with SAAA is offering this webinar as part of the TIG.

If you ARE registered with Fasset as a levy or non levy payer, you would need to get pre approval in order to be eligible for the TIG, you would need to apply to Fasset at incentivesgrant@fasset.org.za.

The Training Incentive Grant opened a second window applications to Fasset employer members. The closing date for this window is 06 December 2019.

Employers are encouraged to apply as early as possible so that should their application be rejected, they could still re-apply before the extended deadline. Employers that were rejected in the first window of applications are also encouraged to apply.

If you are NOT registered with Fasset as levy or non levy payer you can still attend the webinar. 

Date: Nov 27, 2019 

CPD hours: 4 Hours

Time: 09:00 – 13:00

Overview

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 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;
  • Slide presentation summary of all new amendments;
  • Interactive session with the presenter; and
  • Online Q&A.
Learning objectives 

After attending this webinar you will:

  • 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.
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: 

SARS:
  • Guides (new, updated & issued): 

    • Updated Guide on the determination of medical tax credits (Issue 10) 

  • Interpretation Notes (updated & issued): 

    • Interpretation Note 99 (Issue 2) – Unclaimed benefits 

    • Draft Interpretation Note 16 (Issue 3) – Exemption from income tax: Foreign employment income 

  • Binding Rulings (Private/Class/General) issued: 

    • BPR 330 – Distributions of dividends from a trust to beneficiaries on termination of employment  

    • BCR 069 – Employee share ownership plan 

  • Notices and other publications issued: 

    • 2019 TLAB & TALAB published 

    • FAQs: Foreign employment income exemption (Issue 2) 

  • Tax cases: 

    • IT 14434/2019 – Whether the Appellant was entitled to a building allowance in the tax year claimed 

    • Supreme Court of Appeal: Atlas Copco South Africa (Pty) Ltd vs CSARS – The appeal turns on the interpretation and application of s 22(1) of the Income Tax Act 58 of 1962 (the Act), relating to the value of a taxpayer’s trading stock at the end of a year of assessment. 

IFRS:

Standards – What’s new? 

  • IFRS Monthly news summary 

IRBA:

Guidance:  

  • Use of the RA designation 

CIPC:
  • Notices and Practice Notes issued (enforcement and to customers): 

    • CIPC e-mail protocols 

    • Compulsory Name Reservation of co-operatives 

    • Processing Requirements for Removal of Co-Operative Directors 

    • Unexpected filing notifications received after pilot resting iXBRL 

    • Which Companies Should Submit AFS’s in the iXBRL format? 

  • Companies Tribunal: 

    • 11 Decisions reached on cases heard (5 Name disputes, 1 AGM, 3 Exemptions from SEC, 0 Directorship dispute, 2 Reviews) 

Other Laws & Regulations affecting your client AND impact on NOCLAR:
  • This month’s big 5 include: 

    • The Administrative Adjudication of Road Traffic Offences Act (Draft Regulations); 

    • The Competition Act (Draft Regulations); 

    • The Films and Publications Act (Amendment Act 2019) 

    • The Promotion of Administrative Justice Act (Administrative Review Rules); and 

    • The Property Practitioners Act (Dealt with as a separate topic). 

  • This month’s little 5 include:  

    • The Companies Act and the Close Corporations Act (Electronic filing channel); 

    • The Competition Act (Draft Enforcement Guidelines for the Draft Buyer Power Regulations and the Draft Price Discrimination Regulations); 

    • The Intimidation Act (Constitutional Court order); and 

    • The Special Investigating Units and Special Tribunals Act (South African Health Products Regulatory Authority); and 

    • The Special Investigating Units and Special Tribunals Act (Special Tribunal rules). 

  • Other Acts and articles: 

    • New Property laws signed by the president 

      • Electronic Deeds Registration Systems Bill of 2019 

      • Property Practitioners Act of 2019 

    • Section 44 of the Companies Act and Post Acquisition Finance 

    • Do not trust a trustee (without the necessary authority) 

Regulator news:
  • IRBA News & press releases: 

    • 21 percent of JSE-listed companies have changed their auditors ahead of MAFR deadline 

    • IRBA achieves a decade of clean audit opinions 

    • Slight improvement in perception of auditing and accounting standards and shareholder governance 

  • Professional bodies press releases & other publications: 

    • Top tips for SMPs (Small and Medium Practices) 

    • How SMPs can build a strong digital brand 

    • The Enhanced Auditor’s Report – Post implementation review in South Africa 

  • FIC Advisory & Guidance:  

    • Case Studies and Indicators Collection 

    • FATF public statement on jurisdictions with strategic anti-money laundering and counter-terror financing deficiencies 

    • FATF ongoing process to improve global AML/CFT compliance 

    • Draft Public Compliance Communications issues: 

      • PCC 103 on Non-profit Organisations 

      • PCC 105 on the use of Reliance Agreements by Accountable Institutions for Customer Due Diligence on Shared Clients 

  • CGSO & National Consumer Commission:  

    • CGSO warns to purchase online with care 

    • CGSO Annual report released 

    • The NCC takes a car dealer to the National Consumer Tribunal 

  • SARS media releases: 

    • Enhancements to the Income Tax Return for Trusts (ITR12T) 

  • FSCA publications & press releases: 

    • FSCA fines MET Collective Investments Limited R100 million 

    • FSCA conducts a search at Sekunjalo Investment Holdings (Pty) Ltd 

    • FSCA welcomes 15-year jail sentence of Mr David Wilmot 

    • FSCA update on Coinit letter to investors 

    • 5 Warnings issued to the public against fraudulent FSPs 

General Announcements / News Releases:

Media articles:  

  • Beware swiping your card at these card-skimming hotspots


 
Obtaining your CPD certificate  

This webinar qualifies for 4 CPD hours with SAIBA
All webinar attendees are issued with a CPD certificate available in an online profile. 

Who should attend
  • Accountants in Practice: BAP(SA) 
  • Practicing auditors, RA
  • Company secretaries
  • Legal advisors
  • Compliance officers
Price:                    
  • R 575.00 – Online admission – Individual
  • R 950.00 – Online admission – Company
Additional material 

By attending this webinar you will be provided with:

  • Summarised slide presentation, 
  • Detailed course material and reference documents.  
  • You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar.

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