Monthly Update – Compliance and Legislation April 2023

Available from

24 April, 2023

CPD

3

Our Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates. April 2023.

R 380 VAT Incl.

Product Information

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. 

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.

 

Price

The following pricing apply:

Adhoc: R380.00

Subscription: Included for free in Accountant in PracticeAccountant in Practice plus Tax, Bookkeeper and Quick Update packages.

 

Content

The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar: 

IFRS:
  • Standards – What’s new?
    • IFRS Monthly news summary
    • IIFRS Foundation publishes IFRS Accounting Taxonomy 2023
    • IFRS – IASB proposed narrow-scope amendments – IFRS 17 Insurance contracts 
    • IFRS for SMEs Accounting Standard Update – March 2023
    • IASB – Tentative Agenda Decision and comment letters
  • Accounting issues
    • IASB – Conclusion of project on disclosure requirements in IFRS Accounting Standards
    • IFRS – Meeting notes Taxonomy Consultation Group 
    • IFRS Foundation publishes 2022 Annual Report
  • Public sector
    • National Treasury – 2023 GRAP Accounting and Disclosure Checklist
    • ASB – Latest ASB FAQs
    • IPSASB – Activities update
  • Sustainability Reporting
    • IFRS – Connectivity in practice
  • Technology
    • Financial Reporting Council Technology and Digital Hub
IRBA:
  • Legal/Ethics
    • International Foundation for Ethics and Audit launch
    • IESBA – Proposed revisions to the Code addressing tax planning and related services
    • SAICA – NOCLAR – Do you know your responsibilities? 
  • Technology
    • IAASB – IAASB Digital Technology Market – Scan Digital Assets IAASB (7th Ed)
    • Public Companies and Blockchain – Exploring the Digital Asset Landscape 
  • Sustainability 
    • IESBA and IAASB Highlight Commitment to Deliver on Recommendations
  • Other
    • IRBA – Public Inspections Report 2022
    • IFIAR – Public Inspections Report 2022
    • FRC – List of Companies whose reports and accounts have been reviewed
    • SAICA – FAQs on ISAs
    • SAICA – Submission to IRBA on Due Process Policy
    • Property Practitioner Trust Account Engagement Reports 
CIPC:
  • Notices and Practice Notes issued (Enforcement and to customers):
    • Notice 15 of 2023 – CIPC notice setting out the Requirements on the Appointment of an Accounting officer
    • Notice 16 of 2023 – CIPC experiencing a delay in processing credit notes 
    • Notice 19 of 2023 – CIPC commencing final deregistration
    • Notice 20 of 2023 – CIPC deregistered 646 853 companies and CCs
Sustainability and Integrated Reporting:
  • News releases
    • ISSB – transitional relief to support companies applying IFRS S1 and IFRS S2
    • IASB – Improvements to climate-related disclosures in financial statements
    • IASB – International applicability of Sustainability Accounting Standards Board (SASB) Standards
    • GRI – Calls for a risk-based due diligence approach to inform business decisions
    • ISSB – Update by chair
    • IASB & ISSB – Connectivity in reports
Labour Law:
  • Employment law:
    • Compensation Commission – 2022 ROE form
    • COIDA – Confirmation of Life
    • GPTs are GPTs – An early look at the labour market impact potential of large language models
Other Laws & Regulations affecting your client AND impact on NOCLAR:
  • This month’s big 5:
    • The latest SAICA Legal Update has been released and it covers relevant national laws up to 31 March 2023:
      1. The Competition Act: Draft terms for a media and digital platforms market inquiry
      2. The Disaster Management Act: Severe electricity constraint disaster regulations – ICASA directions
      3. The Financial Sector Regulation Act: Financial sector amendments
      4. The Tax Administration Act: Third party returns draft amendments
      5. The Trust Property Control Act: Regulations

Other acts and articles:

  • Trust Property Control Act amendment of regulations
  • Trustee beneficial ownership register
  • Trust Property Control Act new sections effective
  • Chief Master Directive 1 of 2023
  • NPO Act Draft Regulations – SAICA comment letter 
  • Disaster Management Act: Severe electricity supply constraint disaster regulations
  • Companies Act: Regulations Draft amendments 
  • National Environmental Management Biodiversity Act: Withdrawal of norms and standards 
  • National Environmental Management Biodiversity Act: Withdrawal of Rhino measures amendment 
  • National Environmental Management Biodiversity Act: Withdrawal of revised threatened or protected species regulations 
SARS:
  • Refer to February 2023 and March 2023 Maitland and Associates Tax Newsletter distributed to attendees. 
Regulator news:
  • CIBA
    • Guide to the General Laws Amendment Act Changes
    • Guide on the de-registration campaign for NPOs
    • Accounting Weekly Newsletter 
    • CFO Talks
  • IRBA
    • Updated IRBA (Continuing Professional Development) CPD policy published
  • CGSO (Consumer Regulator)
    • Anniversary of the Bar Code
  • Competitions Commission
    • Commission’s school uniform procurement guidelines change lives
    • Statement of Latest Decisions
    • Addressing the State Of Disaster on Energy
    • Commission welcomes tribunal’s approval of Heineken and Distell merger
    • Commission releases Terms of Reference to establish a Media and Digital Platforms Market Inquiry
    • Remarks by the chairperson of the Fresh Produce Market Inquiry
    • Remarks by the Commissioner of the Competition Commission
    • Commission launches Fresh Produce Market Inquiry
    • Unjustified price increases of essential food a concern for Commission
  • FIC Advisory & Guidance
    • FIC Directive 6
    • FIC Directive 7
    • FIC Directive 8
  • Companies Tribunal
    • Names Disputes: 12 granted, 3 refused
    • Exemptions: 2 granted, 1 refused
    • Director Disputes: 1 granted, 3 refused
    • AGM: 1 dismissed
  • Property Practitioners Regulatory Authority
    • Examples of reports
  • FCSA publications 
    • Flavour-of-the-year (FOTY) topics for insurers for the 2023 calendar year
    • IFRS 17 Insurance Contracts
    • Publication of Draft Notice of Amendment of Board Notice 90 of 2014 (BN90)
    • 2023 list of planned PA surveys and questionnaires
  • Information Regulator
    • Outcomes of complaints investigated and assessments conducted in relation to POPIA and POPIA
Technology:
  • News releases
    • Open AI releases the more advanced and capable GPT-4
    • 7 Biggest Questions about ChatGPT answered by Gartner Experts
    • Creating value in metaverse will require trust
General Announcements / News Releases:
  • Media articles and other thoughts: 
    • What does accounting have to do with a banking crisis – ICAEW
    • The collapse of Silicon Valley Bank caused panic and worry
    • IFAC: Accounting Technicians are a key component of the accountancy ecosystem
    • Elon Musk and top AI researchers call for pause on ‘giant AI experiments’ – The Verge

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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