Monthly Update – Compliance and Legislation October 2024

Available from

25 October, 2024

CPD

Course Category:

Financial Reporting

Level:

Moderate

Our Monthly Compliance and Legislation Update webinars provide a summary of some of the most important legislation updates from the previous months. This helps you, our client to stay up to date on recent and important legislation developments in auditing, accounting, tax, SARS operations, CIPC operations, Labour and other relevant laws. October 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 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.

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: 

IFRS:	Standards – What’s new? IASB – Revenue standard (IFRS 15) IASB – Statement of cash flows research project IASB – Proposed improvements in applying the equity method comment deadline – 20.01.2025 IASB – Tentative agenda decision – Recognition of revenue from tuition fees (IFRS 15) – comment deadline – 18.11.2024 IASB – Tentative agenda decision – Guarantees issued on obligations of other entities – comment deadline – 18.11.2024 IASB – Narrow scope amendments to IAS 21 published – comment deadline – 22.11.2024 IASB: Proposed amendments to IFRS 19 published – comment deadline – 27.11.2024 IASB – Climate-related and other uncertainties in the financial statements – comment deadline – 28.11.2024 IASB – Proposed IFRS Taxonomy Update on contracts for renewable electricity – comment deadline – 14.10.2024 IASB – Proposed IFRS Taxonomy Update on new and amended IFRS Accounting Standards – comment deadline – 28.11.2024 Public sector ASB – ASB meeting highlights. ASB – Post-implementation review of GRAP 109 OAG – Accounting Manuals for Departments 2024/2025 issued IPSASB – IPSASB meeting Highlights
Auditing (IRBA, IAASB, etc):	Standards IAASB -ISSA 5000 approved. IAASB – 2022-2023 Public Report released. AFC -The Role of the Auditor: Assessing and Responding to Fraud Risk Other IRBA – Clean Audit Report Reflects the Sustainability and Relevance of the IRBA Amidst the Challenging Economic Landscape LPFF – Various publications for registered auditors PAOB – Observations From the Target Team’s 2023 Inspections FRC – Audit committees and assurance: conversation starters
CIPC:	Notices and Practice Notes issued (Enforcement and to customers): CIPC announce the IFRS Sustainability Disclosure iXBRL Taxonomy Notice 62 of 2024: Academic requirements for business rescue practitioner licensing Notice 63 of 2024: Automation of filing of status reports, substantial implementations and terminations Notice 64 of 2024: CIPC Scan to email Requirements Notice 65 of 2024: CIPCs inline eXtensible Business Reporting Language (iXBRL) Taxonomy Update Notice – Beware of Scammers
Financial Intelligence Centre (FIC)	FIC Advisory & Guidance Grey list: Regulators target trusts and NGOs in compliance drive SA’s largest asset manager, the PIC, feels the sting of greylisting Small FSP that was fined R1.1m shares four lessons in FICA compliance FIC cracks down on non-compliant accountable institutions
Sustainability & Integrated Reporting	Important issues: Sustainability IFRS Foundation: Guide for companies as investors call for voluntary application of ISSB Standards Siemens Launches Digital Decarbonization Tool at Climate Week NYC to Help Simplify the Path to Net-Zero Facilities Global Investors Push for Stronger Climate Policies Ahead of COP29, Urging Governments to Unlock $29 Trillion for Net-Zero Transition IVSC Perspectives Paper – ESG and Real Asset Valuation Important issues: Technology (Articles) Top apps for Accountants 2024 IAASB Unveils New Technology Position to Shape the Future of Audit and Assurance Standards
Labour Law:	Employment law: Landmark judgment reinforces employee rights in business transfer case Labour Court upholds dismissal of Famous Brands’ employee over missing bag of sugar Trial of seven Chinese nationals charged with human trafficking and child labour Department of Employment and Labour Status of Compliance Report highlights the need to improve compliance with labour law Inspectors implored to be ready to enforce another “wave” of labour law amendments
Other Laws & Regulations affecting your client and impact on NOCLAR:	Other acts and articles: State-owned companies to be freed from Public Finance Management Act South African National Water Resource Infrastructure Agency SOC Limited Act
SARS:	Guides (new, updated & issued): See Maitland & Associates Inc News Round Up – September 2024 SARS has finally published the FAQ’s on the IT3(t)s
Regulator news:	CIBA Accounting Weekly Newsletter CFO Talks Various guides are available to members in good standing SAICA Global Ethics Day Companies Tribunal Name disputes (4 granted 1 dismissed) Directors’ disputes (2 dismissed) Exemptions (1 dismissed) Information Regulator Information Regulator close to finalising regulation of telemarketing industry PPRA Important communication on fraudulent activities by some property practitioners Competitions Commission EFPM Report released 4.10.2024 NEF and Competition Commission sign landmark MOU to entrench compliance and fair business practice FCSA publications FSCA Integrated Report 2023-24 CGSO The biggest consumer complaint in South Africa

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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