Monthly Update – Compliance and Legislation July 2024

Available from

26 July, 2024

CPD

Course Category:

Financial Reporting

Level:

Moderate

Our Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates. July 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 IVSC: New Perspectives Paper: Inspection of tangible assets as part of the valuation process
Auditing (IRBA, IAASB, etc):	Legal/Ethics: New Maximum Fines for Improper Conduct gazetted by National Treasury
CIPC:	Notices and Practice Notes issued (enforcement and to customers): Notice 16 of 2024: Finally deregistered companies and CCs which fails to file annual returns within 30 business days after the successful processing of application for re-instatement of deregistered company (Form COR40.5) Guidance Note 1 of 2024 – CM forms vs COR forms: Media release 4 of 2024: CIPC to enforce BO declaration with AR filings for companies and CCs
Anti-Money Laundering and FICA	FIC Advisory & Guidance: Draft PCC121A: Beneficial Ownership and the application of Section 21B of FICA Property Practitioners’ obligation to report Suspicious and Unusual Transactions to FIC
Technology	Important issues: SCA rules on responsibilities of cybercrime victims Will accountants survive the digital revolution?
Labour Law:	Employment law: Payment for public holidays 2023 Employment Equity Public Register Commission for EE (CEE): 24th Annual Report 2023/24
Other Laws & Regulations affecting your client AND impact on NOCLAR:	This month’s big 5: SAICA Legal Update 2024 Volume 19 Issue 10 covers new relevant National laws up to 7 June 2024: The Competition Act: Exemption regulations for small, micro and medium sized businesses; The Immigration Act: Regulations; The Income Tax Act: Revenue Laws Amendment Act (see Taxation section); The National Building Regulations and Building Standards Act: National building regulations; and The Tax Administration Act: Tax returns (see Taxation section). SAICA Legal Update 2024 Volume 19 Issue 11 covers new relevant National laws up to 12 July 2024: The Financial Sector Regulation Act: Cybersecurity and cyber resilience standards; The Childrens Act: Regulations; The Competition Act: Provisional fresh produce market recommendations; The Financial Sector Regulation Act: FAIS Ombud rules (see Regulator News section); and The Special Investigating Units and Special Tribunals Act: Nelson Mandela metropolitan municipality. Other acts and articles: Cannabis for Private Purposes Act enacted Public warning: beware of fraudulent tender advertisements and job opportunities Crypto bill in the pipeline COIDA Update: None
SARS:	Guides (new, updated & issued): Change of Banking Details Guide on Income Tax and the Individual (2023/24) Guide on the Determination of Medical Tax Credits (Issue 16) 7 Updated Guides for 2024 tax season Guide to the Individual ITR12 Return for Deceased and Insolvent Estates How to submit your Individual Income Tax return via the SARS MobiApp Guide to submit your individual income tax return via eFiling Comprehensive Guide to the ITR12 Income Tax Return for Individuals Submit Request for Reduced Assessment (RRA01) via eFiling Guide to Help-You-eFile Guide for Provisional Tax Notices and other publications issued: Filing season 2024 FAQs on auto-assessments Update on changes (in the personal income tax return) for the 2024 tax Filing Season Changes and Enhancements for 2024 filing season SARS clarifies new rules for buying personal goods from international online retailers Temu & Shein prices to increase as SA closes tax loophole on 1 July 2024 Delay of Section 11G & withdrawal of PN31 Verification of Banking Details Trade testing dates: Tax Directives for the Two Pot Retirement system FAQs – Domestic Reverse Charge (DRC) Regulations (Issue 3) Third Party Data – Changes in SARS medical aid data reporting Dispute Resolution for Trusts: Enhancements Average Exchange Rates Section 18A donations deductible on eFiling National Legislation: Revenue Laws Amendment Act 12 of 2024 Taxpayers must be on the lookout for New Scams: SARS-SCAM-362 – Tax refund SARS-SCAM-361 – Outstanding tax payment SARS-SCAM-360 – Email stating payment has been made to your account SARS-SCAM-359 – Email requesting relevant material to eFiling registration High court cases: CSARS v Drs Mkhabele and Indunah Diagnostic Radiologists Inc and Others (2024/036576) [2024] ZAGPPHC 488 (30 May 2024) Fair-Trade Independent Tobacco Association NPC and Others v Commissioner for the South African Revenue Services and Another (115176/2023; 115375/2023) [2024] ZAGPPHC 457 (15 May 2024) CSARS v Buthelezi and Others (B5917/2023) [2024] ZAGPPHC 467 (10 May 2024) Baseline Civil Contractors (Pty) Ltd v CSARS (A83/2023) [2024] ZAWCHC 113 (26 April 2024) Tax case in Court: Media statement on SHL Wholesalers Tax Case in Court Constitutional Court cases: Coronation Investment Management SA (Pty) Limited v CSARS (CCT 47/23) [2024] ZACC 11 (21 June 2024)
Regulator news:	IRBA News & press releases: 2024/2025 Assurance Fees Payable to the IRBA as of 1 June 2024 SAICA press releases and other publications: Feedback Summary on the 2024 draft Global Minimum Tax Bill Submission: ISA 240 ED (Revised) CIBA press releases and other publications: Newsletters: Various guides are available exclusively to members Companies Tribunal: 20 Cases finalised in Jun 2024 Information Regulator: Data breach notifications triple National Property Practitioners Council (NPPC): Property council sends warning to estates and gated communities in South Africa LPFF: Cyber criminals hack SA’s LPFF FSCA publications & press releases: Cyber criminals hack SA’s LPFF Newsletter Q1 2024 The FSCA welcomes the decision of the Tribunal against Mr. Sathish Kumar Bhala FSCA is investigating Finbok, Vector Financial Services (Pty) Ltd and Astrix Data (Pty) Ltd FSCA debars and imposes an administrative penalty on Mr Luan Krige FSCA launches retirement funds Know Your Rights campaign FSCA publishes its latest Regulatory Actions Report 2023/2024 2 Warnings issued against fraudulent FSPs CGSO: Quarter 1 Stakeholder Newsletter 2024 OTO: Newsletter – Fair Play Issue 33 PPRA: 2025 3-Year FFC renewal commencing on 1 July 2024 Important update re FFC renewal & historical penalties FAIS Ombud: Ombud Council Rules for the Ombud for FSPs: Compensation Limit Raised to R3.5 million SARS: NEW! Monthly Tax Digest for June 2024 Latest Tax Practitioner Newsletter – Issue 53 Latest Government Connect Newsletter – Issue 19

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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