Monthly Compliance and legislation Update October 2023

Available from

26 October, 2023

CPD

3

Course Category:

Financial Reporting

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

 

Category: Financial Reporting and Ethics.

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; 
 

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;
 

Price

The following pricing apply:

Adhoc: R380.00

Subscription: Included for free in Accountant in PracticeAccountant in Practice plus Tax, Bookkeeper and QuickUpdate 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 – September 2023 Monthly news summary 
    • IASB – Review of IASB Work Plan for Q4 of 2023 
    • IASB – Update on 2nd Comprehensive Review of IFRS for SME  
    • IASB – Annual Improvements to IFRS Standard ED – update 
  • Accounting issues 
    • ICAEW – International Non-Profit Accounting Guidance  
  • Public sector 
    • Newsletter – Why governments need to account for their assets. 
IRBA
  • Standards 
    • IAASB – ISA of Less Complex Entities – where are we at with this project? 
    • IAASB – Proposed SAAPS 3 Revised: Illustrative Reports 
    • IAASB – Narrow Scope amendments to ISA 700 (Revised) 
    • IAASB – Narrow scope amendments to ISA 260 (Revised) 
  • Legal and ethics 
    • IRBA – BN 475 of 2023 IRBA Rule on Enhanced Auditor Reporting for the Audit of AFS of Public Interest Entities  
    • IRBA – Staff Alert 9 – Guidance on the IRBA Rule on Enhanced Auditor 
    • IAASB – IAASB Enhances Auditor’s Report Transparency on Independence to Reflect Revisions in the IESBA Code of Ethics  
  • Sustainability 
    • ISSB – ISSA 5000 Proposed Global Sustainability Assurance Standard  
    • IFAC – New IFAC Study Expands Insights into Sustainability Disclosure and Assurance Beyond the G20  
    • IFAC – Call to Action for Sustainability Reporting and Assurance 
    • IPSASB – Development of Climate-Related Disclosures Standard for the Public Sector   
  • International news 
    • IFAC – Trust, Corruption and Sustainable Development Are Interconnected Issues in Public’s Attitude Towards Tax  
    • ICAEW – Understanding the mindset of fraud 
  • Other 
    • IRBA – IRBA Newsletter No. 63 
    • AGSA – Circular 01 2023 24 Guide on AGSA Charge Out Rates 
    • IPSASB – Issues Updated Chapters of Conceptual Framework 
CIPC: 

Notices and Practice Notes issued (Enforcement and to customers): 

  • CIPC Clamping down on reckless conduct and non-compliance 
  • Practice Notice 4: Filing of documents 
  • Notice 55 of 2023: Enforcement of Beneficial Ownership Filings and Securities Registers as from 1 Oct 2023
Financial Intelligence Centre (FIC)

News releases 

  • Risk and Compliance Return Sanction Notice Issued 
  • Are your clients accountable institutions? What are your responsibilities with respect to NOCLAR?  
  • Financial Intelligence Centre instrumental in recovery of more than R5.8 billion in criminal assets 
  • Website notice PCC 5D Further Guidance for Registering as an AI 
  • The wars between the laws POPIA v FICA legislation
Sustainability and Integrated Reporting:

News releases 

  • ICAEW – ESG for SMEs step-by-step climate scenario analysis 
Technology:

News releases 

  • ICAEW – Cyber month: CFOs should take the lead  
  • ICAEW – Cyber month: why AI offers both security and threat 
  • ICAEW – The 21st-century evolution of cyber security  
  • ICAEW – How to digitally upskill traditional finance professionals  
  • ICAEW – SMEs must wise up to cyber security risks 
  • ICAEW – Generative AI Guide 
Labour Law: 

News releases 

  • ICAEW – Cyber month: CFOs should take the lead  
  • ICAEW – Cyber month: why AI offers both security and threat 
  • ICAEW – The 21st-century evolution of cyber security  
  • ICAEW – How to digitally upskill traditional finance professionals  
  • ICAEW – SMEs must wise up to cyber security risks 
  • ICAEW – Generative AI Guide 
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 1 September 2023: 
      1. The Companies Act: Amendment Bill and Second Amendment Bill 
      2. The Electricity Regulation Act: Amendment Bill 
      3. The National Nuclear Regulator Act: Amendment Bill 
      4. The Regulation of Interception of Communications and Provision of Communications-related Information Act: Amendment Bill 
      5. The Special Investigating Units and Special Tribunals Act: Gauteng department of health and Tembisa Hospital 
    • The latest SAICA Legal Update has been released and it covers relevant national laws up to 15 September 2023: 
      1. The Competition Act: Media and digital platforms market inquiry 
      2. The National Prosecuting Authority Act: Amendment Bill 
      3. The Draft National State Enterprises Bill 
      4. The Road Accident Fund Act: Draft Amendment Bill 
      5. The Special Investigating Units and Special Tribunals Act: Amajuba Municipality 

Other acts and articles: 

  • Companies Act: Amendment Bill and Second Amendment Bill 
  • The National Prosecuting Authority Act: Amendment Bill 
  • Masters Office – Deceased Estates have gone online 
  • DoJ – New Beneficial Ownership Register for Trusts (Circular 52 of 2023) 
SARS:  Refer to August 2023 and September 2023 Maitland and Associates Tax Newsletter distributed to attendees.  
Regulator news:
  • CIBA 
    • Accounting Weekly Newsletter  
    • CFO Talks 
  • IRBA 
    • IRBA – EAR Rule to enhance the transparency of auditors’ reports on annual financial statements of public interest entities 
  • SAICA  
    • SAICA – South African Chartered Accountants lead in global trustworthiness  
  • Competitions Commission 
    • Commission levels the playing field for Online Platforms (think Takealot, Bookings.com, etc) 
    • Commission investigates Johnson & Johnson 
    • Statement on the latest decisions by the Competition Commission 
    • Essential Food Pricing Monitoring Report Released  
    • Commission gazettes final terms of reference for Media and Digital Platforms market inquiry  
    • Statement on the latest decisions by the Commission  
    • Media statement calls for public comment on draft public interest guidelines 
    • Commission recommends prohibition of Vodacom/Maziv merger 
    • Commission signs consent agreement with Unilever 
  • Companies Tribunal 
    • Names Disputes (7 granted, 2 dismissed) 
    • Exemptions (1 granted, 1 dismissed) 
    • Directors Disputes (1 granted,) 
    • AGM (3 granted)  
    • Other matters (2 granted) 
  • Property Practitioners Regulatory Authority 
    • Guidance note on undesirable practices 
  • National Credit Regulator 
    • NCR Credit Extension slows down while impairments worsen 
  • FCSA publications  
    • The FSCA welcomes the Tribunal decision on Mr Markus Jooste, former CEO of Steinhoff International Holdings N.V.  
    • FSCA Publishes Budget and Levies and Fees Proposals  
    • FSCA issues 9 warnings and alerts 
  • Information Regulator 
    • Media Statement: Enforcement notice issued to Dis-chem.  
General Announcements / News Releases: 

Media articles and other thoughts:  

  • Navigating the legal aspects of online contracts and privacy 
  • Guardians of the galaxy… The needs and requirements of minor children

 

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 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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