Monthly Compliance and Legislation Update June 2023

Available from

26 June, 2023

CPD

Course Category:

Financial Reporting

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

Category: Financial Reporting and Ethics.

R 380 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 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;
Slide presentation summary of all new amendments;

Price

The following pricing apply:

Adhoc: R380.00

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

Content

 You will get the most up-to-date technical knowledge and legislative updates during this webinar. The final topics will be published closer to the webinar. Our accounting and taxation experts are busy thoroughly researching to ensure all pertinent information is sumarised and made available to you.

IFRS:	Standards – What’s new? IFRS Monthly news summary IIFRS – Disclosure requirements to enhance the transparency of supplier finance arrangement published IFRS – Amendments to IAS 12 published IFRS – IFRS 17 effective from 1 January 2023 IFRS – IFRS Interpretations Committee Agenda Decisions Volume 8 published IASB – Classification and measurement requirements for financial instruments – comment deadline – 19 July 2023 IASB – Impairment requirements for financial instruments – comment deadline – 27 September IASB – IASB work plan update Accounting issues SAICA – Body Corporate Illustrative Annual Financial Statements template published IASB – Guidance for developing and drafting disclosure requirements in IFRS accounting standards published CAQ – International Practices Task Force Meeting Highlights Public sector OAG – MCS Frequently Asked Questions IPSASB – IPSASB approves amended RPGs 1 and 3 IPSASB – IPSASB Measurement-Related Pronouncements IPSASB – Activities update Sustainability Reporting IFRS – IFRS for SMEs educational material on the effects of climate-related matters on financial statements Technology Financial Reporting Council Technology and Digital Hub
IRBA:	Legal/Ethics IRBA – IRBA Code of Professional Conduct for Registered Auditors (Revised April 2023) IESBA – IESBA Consultation Paper: Proposed Strategy and Work Plan 2024 – 2027 APA amendments out for comment Technology IAASB – IAASB Digital Technology Market – Scan Digital Assets IAASB (7th Ed) Public Companies and Blockchain – Exploring the Digital Asset Landscape Other AGSA – 2023-24 Guide on AGSA Charge Out Rates PCAOB – Revises Standard-Setting Agenda and Adds Rulemaking Projects to Enhance Investor Protection
CIPC:	Notices and Practice Notes issued (Enforcement and to customers): CIPC Online verification of CIPC disclosure certificates Final Companies Amendment Regulations CIPC GN on Beneficial Ownership filling CIPC User Guidelines on filling of Beneficial Ownership CIPC Beneficial Ownership FAQs
Financial Intelligence Centre (FIC)	News releases The FIC case studies and indicators collection IFAC, TI-UK, and World Economic Forum’s PACI Review of Anti-Corruption Reporting Sheds Light on Current Practice & Encourages Increased Transparency New IFAC Publication Equips Accountancy Organizations to Lead the Fight Against Corruption Understanding anti-corruption reporting, with the support of the WEF
Sustainability and Integrated Reporting:	News releases ISSB – Which projects should be added onto the ISSB two-year work plan? ISSB – First global baseline of sustainability disclosure Standards to be published by the end of June 2023 IASB – Key questions for audit committees overseeing sustainability-related disclosure UN DESA – UN Experts aiming to analyse SDGs and climate action synergies for maximum impact action The transition to a Chief Value Officer – An opportunity for the profession ISSB – ISSB to unlock sustainable capital and reshape how businesses report over climate and wider sustainability disclosures Are companies overwhelmed by ESG requests?
Technology	News releases CAQ: Generative AI: Are You Addressing Factors of Trust and Ethics? There’s No Time to Waste One step closer for first of its kind, AI Act Generative AI and Copyright, who owns what? Google Bard: Experiment is here (Google’s generative AI) Cyber crime’s annual impact on SA estimated at R2.2bn How can organizations prepare for generative AI?
Labour Law:	Employment law: Maximum Earnings on Provisional Assessment Extension of ROE COIDA reminder – Confirmation of Life EE Act targets Regulations The WEF Jobs Report 2023 has been released National Minimum Wage Act: Medium-term targets for the national minimum wage report Public Administration Management Act: Amendment Bill
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: The Competition Act: Energy suppliers and users exemptions; The National Health Insurance Bill: Version B; The National Water Act: Draft water use licence application and renewals; The Promotion of Access to Information Act: Access to tax records; and The Tax Administration Act: Disclosure and secrecy of taxpayer information. Other acts and articles: NPO Act Amendments National Health Insurance Bill Promotion of Access to Information Act: Access to tax records Tax Administration Act: Disclosure and secrecy of taxpayer information Employment Equity Act: Draft 5-year sectoral numerical targets Financial Advisory and Intermediary Services Act: Crypto asset exemption Merchant Shipping Bill South African Post Office SOC Ltd: Amendment Bill 2023
SARS:	Refer to April 2023 and May 2023 Maitland and Associates Tax Newsletter distributed to attendees.
Regulator news:	CIBA Accounting Weekly Newsletter CFO Talks IRBA Auditing Profession Act: Mandatory audit firm rotation rule SAICA SAICA’s Comment letter on the IAASB’S on Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE) SAICA FAQs on the application of the ISAs CGSO New mobile complaints app set to make life easier for users Competitions Commission Statement on the latest decisions by the Competition Commission (15 May 2023) Media Statement Digital Markets Inquiry- extended to 30 June2023 Media-Statement-Commission-refers-SAPS-supplier-to-Tribunal-for-excessive-pricing-18-May-2023 Media-Statement-Commission-recommends-conditional-approval-of-Takatso-SAA-merger-12-May-2023 Companies Tribunal Names Disputes (6 granted) Exemptions (8 granted, 1 refused) Directors Disputes (1 granted,) AGM – (2 granted) Other – 1 matter Property Practitioners Regulatory Authority Submission of reports FCSA publications Changes to criminal verification checks in respect of Collective Investment Schemes (CIS) Exemption of persons rendering a financial service in relation to crypto sssets from certain requirements, 2023 (Exemption) List of qualifications recognised for financial services providers, key individuals and representatives FAIS notice 24 of 2023 available from the FSCA Information Regulator Information Regulator Enforcement notice Submission of AR for access to information request
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: Termination of a lease agreement – Legal requirements Mobile Apps – Legal tech and how you can incorporate it into your practice The legal status of companies and the validity of company actions What is the role of a Compliance Officer in terms of FICA – FoxDox

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

Caryn Maitland CA (SA)

Caryn Maitland is a registered auditor and chartered 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.

CIBA Academy Support

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