Daniela Coetzee @DanielaCoetzee

IRBA NEWS: Annual Report for year end 2026 is now available. [READ MORE] irba.co.za/annual-reports/

Today, we released multiple Exposure Drafts proposing revisions to: ▪️ISA 330, The Auditor’s Responses to Assessed Risks ▪️ISA 500, Audit Evidence ▪️ISA 520, Analytical Procedures Learn more in the video below and on our website here: iaasb.org/focus-areas/st…

SAICA appreciates the Department of Trade, Industry and Competition (@the_dtic ) for its engagement and response to the practical implementation concerns raised by SAICA regarding the commencement of the remuneration requirements under the Companies Amendment Act, 2024. @the_dtic has advised that the Companies and Intellectual Property Commission (@theCIPC) has issued guidance on the operation of sections 30A and 30B of the Companies Act. The guidance confirms that: · There are no transitional provisions following the commencement of sections 30A and 30B on 22 May 2026. · AGMs convened before 22 May 2026 under a valid notice are not subject to the new remuneration requirements. · AGMs convened after 22 May 2026, where no valid notice had been issued before the commencement date, must comply with sections 30A and 30B. · The remuneration report requirements under section 30B apply in line with the operation of section 30A. SAICA appreciates DTIC’s engagement and the issuance of the CIPC guidance, which provides important clarity to companies and practitioners on the implementation of the new remuneration requirements. Read more🔗tinyurl.com/mvwa8s83 #⃣ #SAICATechnical #CompaniesAmendmentAct

SARS has issued guidance to employers on how to submit the Employer Reconciliation (EMP501) where an employee’s income tax reference number is unavailable, and the employee cannot be contacted. This FAQ applies to all employers submitting EMP501 reconciliations via e@syFile™ Employer or eFiling. Importantly, where all reasonable attempts to contact the employee have been unsuccessful, employers may still proceed with the reconciliation submission. In such instances, the employer should not finalise the certificate, but rather delete or cancel it, and capture the PAYE amount under “Tax paid on behalf of employee” on the EMP501. Employers should note that where an employee’s income tax reference number is not captured, the PAYE deducted cannot be allocated to the employee’s tax record. As a result, the employee will not receive the benefit of the PAYE during assessment. The employee will subsequently need to contact the employer and provide their income tax reference number for the matter to be resolved. The full set of FAQs is available here: sars.gov.za/wp-content/upl… , and employers are encouraged to consult the document for further guidance

⚖️ Companies Act changes Section 5,6 and 19 of the Companies Amendment Act 16 of 2024 are now effective from 22 May 2026, with no formal transitional period. Companies Act key changes include: ✅ Sec 30 requires AFS disclosure of Sections 5 and 6 of remuneration and benefits received by each individually named director and prescribed officer; ✅ Sec 30A requires all public companies and state-owned companies to prepare and present a Remuneration Policy for approval at the AGM; ✅ Sec 30B requires public companies and state-owned companies to prepare a remuneration report for the preceding financial year for presentation and approval at the AGM; ✅ Amendments relating to alternative dispute resolution and the Companies Tribunal. SAICA notes practical implementation challenges arising from the immediate effective, as well as the absence of transitional arrangements and supporting guidance. Members are encouraged to: ✅Urgently review the amendments and assess the impact on clients and entities. ✅Consider the implications for AFS, remuneration reporting, and AGM processes; and ✅Monitor further guidance and regulatory developments. SAICA continues to engage stakeholders regarding implementation concerns and practical guidance. Read more 🔗 tinyurl.com/4kbfvtxt #⃣ #SAICATechnical #CompaniesAct #AFS #Sec30A

South Africa’s Draft National AI Policy signals a major shift in how artificial intelligence will be governed, with new expectations around ethics, accountability and sector-specific oversight. Peter Grealy, Leanne Mostert, Wendy Tembedza, Karl Blom, and Aalia Manie outline what the Draft Policy means for organisations developing and deploying AI: bit.ly/4t6coQh #Tech #AI #WebberWentzelFusion

Several tax practitioners have reported an issue when attempting to submit their clients’ ITR12 returns on eFiling. When accessing the return, the system indicates that an IRP5 certificate is present. However, no IRP5 is prepopulated, and the taxpayer has confirmed that no IRP5 exists. The IRP5 indicator is ticked and greyed out, preventing it from being deselected and consequently blocking submission of the return. SARS has advised that they are aware of the error. SARS has urged tax practitioners to send emails to: [email protected] with screenshots and details of the error so that they may continue investigating the matter.

🗞️New!!! SAICA Sustainability Information Paper: Advancing credible, connected and future‑fit reporting in South Africa. The landscape of corporate reporting is evolving rapidly, with sustainability considerations becoming central to how organisations create value and contribute to the societies in which they operate. In this context, the South African Institute of Chartered Accountants (SAICA) is proud to present this Information Paper to inform the Sustainability Reporting Regulatory Landscape in South Africa as organisations prepare for global alignment. This paper seeks to provide a comprehensive overview of the current and emerging frameworks that shape sustainability reporting and assurance both locally and globally. It also aims to support informed decision-making by regulators, standard setters, preparers, auditors, and other stakeholders as South Africa shifts towards mandatory sustainability disclosures. SAICA extends its sincere appreciation to all stakeholders who contributed to the development of this paper, including members of our technical committees, representatives from industry, academia, regulators, and the assurance profession. Your valuable insights, feedback, and expertise were instrumental in shaping this publication and ensuring it reflects a balanced and forward-looking perspective. As sustainability becomes a business imperative, this paper reinforces SAICA’s commitment to integrity, transparency, and accountability in the public interest. Read the paper and join the conversation🔗 tinyurl.com/4h3mn47z #⃣ #SAICA #SustainabilityInformationPaper

ANNOUNCEMENT | The Department of Employment and Labour has announced an increase in the National Minimum Wage from R28,79 to R30,23 per hour, effective 1 March 2026. 🔗 More information:
gov.za/documents/noti… #NationalMinimumWage #LabourZA #GovZAUpdates @deptoflabour

The National Treasury has published the draft General Laws Amendment Bill, in terms of the Anti-Money Laundering and Combating Terrorism Financing framework, for public comment in the Government Gazette. tinyurl.com/u82xjydr #GovZAUpdates

The NCC has flagged more suppliers who have either failed to deliver goods or services, or supplied defective products with no redress. The list of suppliers is available here: thencc.org.za/national-consu… @PhethoN @the_dtic

Here is the list of the 45 non-compliant suppliers @PhethoN @the_dtic thencc.org.za/media-statemen…

The National Consumer Commission (NCC) @TheNCC_RSA

a year ago

NCC issues 45 compliance notices to suppliers that contravened the Consumer Protection Act (CPA).

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IRBA NEWS: IRBA finalised 106 enforcement matters in 2023/24—a 43% increase. 95 registered auditors sanctioned. [READ THE FULL REPORT] bit.ly/4mMfAhk #AuditQuality #IRBA #Auditing #Accountability #ProfessionalStandards

ROE2025 - Maximum amount of earnings capped for 2025 at R633 168 labour.gov.za/DocumentCenter…

Mikdanco Pty Ltd Featuring THE MOUNTAIN APPAREL Range – Adult and Late Teens Tee. ** Pre-Shrunk, 100% Cotton ** Relaxed, Classic Fit ** Printed with Soft, Non-Toxic Water-Based Inks ** Reinforced Double-Stitching On All Seams Please visit mikdanco.co.za

Submission of the 2024 Return of Earnings (ROE) notice to all employers labour.gov.za/DocumentCenter… #Yazini #GovZAUpdates

🌍Today marks a milestone for trust and transparency in sustainability reporting & assurance. Along with the @Ethics_Board, we have launched a unified effort to support effective implementation of our standards. Learn more here: ethicsandaudit.org/TrustInSustain…

The #IFRS Foundation has published a guide to help companies identify sustainability-related risks and opportunities and material information to provide. Find out more about the key features and access the guide here 👉ifrs.org/news-and-event… #ISSB #ISSBStandards

SARS has added new features to the SARS Online Query System (SOQS) that will make it easier for Customs traders to: 🔹 Upload registration, licensing and accreditation related supporting documents 🔹 View and download licensing and accreditation certificates and letters, or 🔹 Choose to receive them on email. bit.ly/3ouzKjO #CustomsTraders #YourTaxMatters

MEDIA STATEMENT The Department of Trade Industry and Competition (the dtic) calls on all stakeholders and interested parties to submit comments on the draft amended Regulations 4 of the CPA. The Regulations provide mechanisms to block unwanted direct marketing communication.

the dtic @the_dtic

2 years ago

Invitation for comment on the draft regulations to block unwanted direct marketing - thedtic.gov.za/invitation-for…

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