Regulatory News
Critical SA jobs left vacant in wake of skills exodus

From Xpatweb: South Africa has been seeing a steady increase in professionals wanting to emigrate to other countries. By leaving their home country in search of international opportunities, they are also impacting workplaces, higher education needs and revenue collection by the South African Revenue Services (SARS), which can have a detrimental knock-on effect if qualified […]

Ruwynne Smith’s fantastic journey to business rescue practitioner

Ruwynne Smith is a legend in the Saiba community, not least for the years of toil and excellent service delivered to his clients. Now he has another reason to celebrate: he is one of Saiba’s newly minted Business Rescue Practitioners (BRPs), and he sees this as the door to double the size of his business […]

Resolving customs and excise disputes with Sars – alternative dispute resolution

By Rudi Katzke, Partner at Webber Wentzel There are various mechanisms to resolve disputes with SARS’ Customs and Excise divisions. In this article, we consider the alternative dispute resolution procedure. In the previous instalment of this series, we considered the internal administrative appeal as the main dispute resolution mechanism in the Customs and Excise Act, 1964 […]

JCI ordered to pay CIPC an administrative fine of R1m

JCI, the once-great Johannesburg-based mining house that was stripped bare by the Kebbles (and others), was ordered this week by the high court to pay the Companies and Intellectual Property Commission (CIPC) an administrative fine of R1 million for failing to submit financial statements as required by the Companies Act and in accordance with International […]

Can you be mandated by your employer to get vaccinated?

And if you are injured by the vaccine, can you sue your employer? From DearSA. With more than 12.5 million vaccines administered to 9.4 million South Africans as of 30 August 2021, that’s about 16% of the total population. Compare that with United Arab Emirates (76%), Uruguay (72%) or Malta (82%). The Department of Health shows […]

Saiba’s view on the critical skills list – let’s employ locals first

By Nicolaas van Wyk and Ciaran Ryan The 2021 Critical Skills list is due for release in September, and this is something that is of particular interest to accountants. As we previously reported in Accounting Weekly, the Department of Higher Education and Training (DHET) issued a CSL earlier this year and asked for public comment. […]

Saiba’s on-boarding and practice start-up webinar

Saiba is always seeking ways to better serve its members, and one way it does this is through its monthly on-boarding and practice start-up sessions for new members. This event introduces Saiba to newcomers and explains the benefits and different products available. Old members are also welcome to attend, particularly those looking to refresh their […]

IRBA to refer non-audit complaints to professional bodies

On April 26, 2021, the Auditing Profession Act, 2005, was amended by Act 5 of 2021. The amendments introduced in section 48(1A) which enables the Independent Regulatory Board for Auditors (IRBA) to refer a non-audit complaint against a registered auditor or registered candidate auditor, to an IRBA accredited professional body for investigation and disciplinary proceedings, […]

Irba heeds stakeholder calls and opens consultation on Enhancing Disclosures in Audit Reports

The Independent Regulatory Board for Auditors (Irba ) has heard the concern of various stakeholders, including investors in South Africa and published a consultation paper titled Enhancing Disclosures in the Auditor’s Reports in South Africa: Addressing the Needs of Users of Financial Statements. Irba is inviting those concerned with the protection of public interest to comment […]

Concentration of work in Big Four behind SA audit industry’s plummet in rankings

From BusinessLive: A culture of change is necessary with a focus on mandatory joint audits. SA’s audit profession is in the midst of a crisis of public confidence — from being ranked first in the World Economic Forum Competitiveness index for strength of auditing standards and reporting every year between 2010 and 2016, it collapsed […]