Monthly Update – Compliance and Legislation January 2024

Available from

26 January, 2024

CPD

Course Category:

Financial Reporting

Our Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates. January 2024.

Category: Financial Reporting and Ethics.

R 304 VAT Incl.

Product Information

What you will learn

After attending this webinar you will:

Stay up to date with the most important legislation updates;
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 Lettie Janse van Vuuren 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.

Stay up-to-date on recent and important legislation developments in auditing, accounting, tax, SARS operations, CIPC operations, Labour and other relevant laws by joining us for the webinar.

Price

The following pricing apply:

Adhoc: R304.00

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

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: 

Accounting (IFRS, etc)	Standards – What’s new? IFRS Monthly news summary Accounting issues Reminder: IAS 1 (Accounting Policies) is now effective FASB Issues Standard to Improve the Accounting for and Disclosure of Certain Crypto Assets Ethics Sustainability Exposure Draft and Tax Planning-related Ethics Standard completed Public Sector ED 205 on Social Benefits: Comment deadline extended
Auditing (IRBA, IAASB, etc):	Standards: Reminder: Effective Date of ISA 600 (Revised): Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) New ISA for LCE issued! The following documents were also issued/updated accordingly: ISA for LCE: Fact Sheet ISA for LCE: FAQs ISA for LCE: IAASB’s Overview presentation slides Legal/Ethics: Fit & proper policy gazetted The IRBA QM L&R Rules Other, Guides & Illustrative Reports: Audit & Assurance developments: what to expect in 2024 Exposure Draft: Proposed Guide for Registered Auditors (Revised), Joint Audit Engagements Revised Illustrative Mutual Banks Act Regulatory Auditor’s Reports IAASB: Guidance for Assurance Practitioners When Citing IFRS Accounting Standards
CIPC:	Notices and Practice Notes issued (enforcement and to customers): Notice 72 of 2023: Implementation of multi factor authentication for director amendments Notice 74 of 2023: Final de-registration of companies and CCs in the annual return de-registration process
Anti-Money Laundering and FICA	FIC Advisory & Guidance: FIC Annual Report: FICA non-compliance statistics & trends Learnings from the 2022/2023 FIC Annual Report Draft sector risk assessment – Assessment of the inherent money laundering and terrorist financing risks for accountants Draft sector risk assessment for dealers in precious metals and stones Consequences of non-compliance with FICA for all accountable institutions Important issues: Terrorist Financing: Prevention Guidelines issued for Banks FICA 2023 Round-Up: A Summary of Greylisting, New FICA Directives & Amendments FICA Documents needed to adequately perform Due Diligence The importance of continuous screening Guides: Guide to identifying and reporting suspicious behaviours and transactions
Sustainability & Integrated Reporting	Important issues: ISSB Standards requirements
Labour Law:	Employment law: Four-day working week trial run in South Africa
Other Laws & Regulations affecting your client AND impact on NOCLAR:	Other acts and articles: Small Enterprise Amendment Bill: Revised Version available DoJ’s rescue plan for the Master’s Office
SARS:	Guides (new, updated & issued): Customs: South African Traveller Management System – 3 Guides Binding Rulings (Private/Class/General) issued: BPR 403 – Taxation of covered persons in respect of equity linked notes BPR 402 – Transfer of long-term insurance business to a local branch of a foreign reinsurer BPR 401 – Leasehold improvement allowance BPR 400 – Donations tax implications on the issue of shares at nominal value to enhance BBBEE credentials BGR 68 – Acceptable Documentation for Input Tax on Upward Adjustments on Imports Notices and other publications issued: 2023 Tax Amendment Acts gazetted Average Exchange Rates Taxpayers must be on the lookout for New Scams: Summons Notice via email High court case: Canyon Resources
Regulator news:	IRBA News & press releases: IRBA News#64 SAICA press releases and other publications: Reminder: 2023 CPD Compliance declaration 2024 Training Regulations 2023 Medical Schemes Accounting Guide Comments on IRBA Exposure Draft: Proposed SAAPS 3 (Revised), Illustrative Reports CIBA press releases and other publications: Newsletters Various guides are available exclusively to members in good standing Companies Tribunal: 15 Cases finalised in Dec 2023 Bulletin Newsletter Information Regulator: Media Statement: Joint Statement on Privacy and Democratic Rights PPRA: The property practitioners’ landscape: reminder of late submission penalties FSCA publications & press releases: eNewsletter FSCA Press Release – The FSCA welcomes Supreme Court of Appeal judgement against Fusion Guarantees (Pty) Ltd FSCA imposes an administrative penalty and debarment on Mr Jacobus Stephanus Geldenhuis (and Classic Financial Services has been liquidated) FSCA warns the public to be cautious of scams and fraudulent activities this festive season FSCA informs the public of an investigation into the business activities of BFG Engineering Brokers (Pty) Ltd Request for information from investors of BHI Trust 5 Warnings issued against fraudulent FSPs CGSO: Consumer Alert: eGadgets.co.za Newsletter OTO: Annual Report 2022/2023 Special edition Newsletter – Nov 2023 IFAC: Plan to Revise International Education Standards for Sustainability Reporting and Assurance SARS: Latest VAT Connect Newsletter

Certificate

The following CPD is awarded: Financial Reporting 2 units, Ethics 1 unit.

Requirements

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

Presenter

Lettie Janse van Vuuren | CBA (SA)

Lettie is a Certified Business Accountant (SA), Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style. She has a unique ability to communicate with delegates at their respective levels of knowledge and experience. Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.

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