The Financial Sector Regulation Bill was passed by Parliament and sent to the President for assent on 22 June 2017. The Bill provides the...
On Thursday 25 May, the Association of International Certified Professional Accountants (the Association) and the South African Institute of Chartered Accountants (SAICA) announced an agreement that further advances the accounting profession in South Africa by broadening access to their professional qualifications and resources.
Transfer Pricing compliance requirements in South Africa have been significantly tightened and a modern transfer pricing system, including electronic transfer pricing return submission, has been put in place.
The new lease accounting standard, IFRS 16, will bring all leasing assets on-balance sheet, which may significantly affect companies’ key performance indicators, loan covenants and regulatory capital requirements.
The B-BBEE Commission announced in January 2018 that it made findings against a verification agency, SAB&T BEE Services (Pty) Ltd. It recommended remedial steps, including the issuing of a public apology and the commissioning of an independent audit of all certificates issued by the agency for 2014 to 2016.