Compliance and Legislation Update – January 2020

WHAT YOU WILL LEARN

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.

DESCRIPTION

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

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.

PRICE

• Adhoc – R399
• Subscription Packages: Accountant in Practice, Accountant in Practice plus Tax, Bookkeeper, Quick Update

CONTENT

Study Unit 1: SARS Guides (new, updated & issued):

Updated VAT 404: Guide for vendors

Study Unit 2: SARS Binding Rulings (Private/Class/General) issued:

BPR 336 – Liquidation distribution

Study Unit 3: SARS Notices and other publications issued

The validity period of the Confirmation of Diagnosis of Disability (ITR-DD) form has been extended

Study Unit 4: SARS Tax Court cases

• IT 24614 – Whether the Appellant was entitled to a deduction for what SARS regarded as a loan
• IT 14157 – Whether the Appellant was an independent contractor that was not obliged to deduct SDL & PAYE

Study Unit 5: SARS High Court cases

• Red Ant Security Relocation and Eviction Services (Pty) Ltd v CSARS (2999/18) – Whether applicant entitled to urgent interim interdictory relief in respect of withdrawal of tax compliance status by SARS
• CSARS v Spur Group (Pty) Ltd – Whether contribution to employee share incentive trust in the production of income and hence deductible under section 11(a)

Study Unit 6: SARS Supreme Court of Appeal cases

• CSARS v Danwet 202 (Pty) Ltd – Condonation for late filing of an appeal against an assessment
• CSARS v Pieters and Others (1026/17) – Contracts of employees terminated, awards to employees not subject to PAYE
• Africa Cash & Carry vs CSARS – Whether SARS proved that the methods of assessment used were reasonable; whether the tax court ought to have remitted the assessment; section 89 interest exercised its discretion in circumstances where Commissioner for the South African Revenue Service had not issued a final assessment
• CSARS vs Clicks Retailers (Pty) Ltd – Whether amount received from earlier sales used to finance future expenditure on same contract

Study Unit 7: IFRS Standards – What’s new?

IFRS Monthly news summary

Study Unit 8: IRBA Guidance

Proposed Guide for Registered Auditors: Joint Audit Engagements

Study Unit 9: CIPC Notices and Practice Notes issued (enforcement and to customers)

• Guidance Note 2 of 2019 – Time Periods for Filing Annual Returns and Annual Financial Statements
• Notice 79 of 2019 – Disqualified directors’ letters
• Professional bodies highlight CIPC Compliance checklist challenges

Study Unit 10: CIPC Companies Tribunal

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

Study Unit 11: Employment law

Update on Parental Benefits in terms of the BCEA – effective 1 January 2020

Study Unit 12: Other Acts and articles

6 planned laws for South Africa you should know about in 2020

Study Unit 13: IRBA News & press releases

• IRBA Issues a New CPD Policy and Related Guidance
• IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms

Study Unit 14: Professional bodies press releases & other publications

SAICA’s latest developments in the auditing profession

Study Unit 15: 5 interesting articles that also affect SMEs

• Professional bodies SMP Q3 Newsletter
• Audit Requirements relating to the Business Accounts of Legal Practitioners now clarified
• Professional Bodies new CPD Policies

Study Unit 16: Companies Tribunal

Domain Name Disputes: Does the Tribunal have jurisdiction over Domain Names?

Study Unit 17: FIC Advisory & Guidance

• PCC41: Awareness on protecting NPO sector from Money Laundering and Terrorist Financing
• Call for comments: Draft PCC 102 on Supervisory Body Access to STR and STR Information
• Call for comments on South Africa’s Targeted Financial Sanctions Regime Draft Document PCC 104
• FIC Supervisory Body: SARB fines Standard Bank R30m & imposes penalties on 4 other banks
• Media release: Public Private Sector Partnership to assist in Combating Financial Crime

Study Unit 18: CGSO & National Consumer Commission

• CGSO Annual report released
• CGSO Press release – Rights & Responsibilities of Consumers & Suppliers during Black Friday
• The National Consumer Commission slaps Ford Motor Company of Southern Africa with a fine of R35m
• Slow or no justice for buyers of dodgy cars despite Consumer Tribunal ‘help’

Study Unit 19: FSCA publications & press releases

• FSCA Update on public warning regarding Karatbars International GmbH
• FSCA provisionally withdraw the licence of Exclusive Life Financial Services (Pty) Ltd
• FSCA eNewsletter – FSCA Bulletin 2019/2020
• 2 Warnings issued to the public against fraudulent FSPs

Study Unit 20: Media articles

• The end of annoying marketing calls in South Africa
• Here’s when you are allowed to drive in the emergency lane in South Africa

REQUIREMENTS

1. There are no preconditions for this course.    
2. Moderate level.  
3. Recorded webinar made available on a specified date 

PRESENTER

Lettie Janse van Vuuren

Technical expert Lettie Janse van Vuuren CA(SA), RA, CBA(SA) researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.

ADDITIONAL MATERIAL

By attending this webinar, you will be provided with:   

• Summarised slide presentation  
• Reference documents and / or course material where available 
• Access to a technical knowledge base