Accountants’ Discussion Forum: Financial Statement Preparation and Assurance for a Body Corporate October 2024

What you will learn

By attending this discussion forum, you will be:

• Analyse the implications of the Sectional Title Management Rules on financial reporting and learn how these rules influence the roles and responsibilities of accountants, auditors and trustees.
• Know the key components that must be included in the financial statements as well the accounting principles specific to a body corporate.
• Learn the assurance requirements applicable to a body corporate and how these requirements differ based on public interest considerations.
• Identify key compliance requirements including statutory deadlines and disclosure obligations as well as the consequences of non-compliance for trustees and other stakeholders.
• Understand what the purpose and requirements are regarding the Reserve Fund and Maintenance, Repair and Replace Plan. 

Description

A body corporate has unique accounting requirements that include financial reporting, budgeting, and the management of levy contributions. Understanding the essential financial practices specific to this type of entity is crucial for effective management. 

In addition to accounting practices, the webinar will discuss assurance services (audits and independent reviews). These services play a crucial role in maintaining accountability and providing stakeholders with confidence in the financial health of the organisation. 

Content:

The following topics are under discussion for this month:

• Sectional Title Management Act and Rules. 
• Auditor’s responsibility with respect to S45 of the Auditing Professions Act – Reportable Irregularities. 
• Companies Act with respect to Non-Profit Companies where appropriate.

Price

The following pricing apply:

Ad hoc: R304.00 for this webinar

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

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. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  

Carmen Westermeyer CA(SA) 

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then. In 2008, she was appointed lecturer at UKZN and coordinated the Taxation 300 course until December 2010. She then took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme. 

In December 2012 Carmen started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the FASSET Budget and Tax Update in 2015 and 2016.

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