The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
A recent IFRS Interpretations Committee agenda decision confirms that changes to an investee’s governing documents may require an entity to reassess whether it still controls that investee. South African groups reporting under IFRS should review governance changes before finalising consolidation conclusions.
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The IASB is considering proposed changes to how acquisition-related payments are classified in statements of cash flows. The decisions are not yet final, but South African finance teams can start assessing whether current transaction records will support clearer reporting if the proposals proceed.
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CIPC has introduced the first phase of an updated director amendment process, adding OTP confirmations for certain small companies. SMEs should review director records and internal approval controls before submitting changes.
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South Africa’s 2026 draft tax bills are moving through parliamentary consideration. They are not law yet, but businesses should monitor the process and assess potential compliance implications.
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A practical accounting insight on aligning company and tax record-retention requirements before old financial documents are deleted.
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SARS published six tariff amendments on 6 November 2026. Importers, vehicle assemblers and fuel-intensive businesses should review costing, customs and diesel-refund controls before the effective dates.
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A recent IFRS Interpretations Committee update puts residual-value estimates under the spotlight. South African finance teams using IAS 16 should review their asset assumptions before year-end.
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CIPC’s 23 October 2026 statement on the Nova matter highlights the importance of reliable financial statements, governance records and timely Companies Act compliance for South African businesses.
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South Africa’s audit regulator has highlighted audit quality, technology and sustainability assurance as priorities, giving finance teams useful signals for stronger reporting controls.
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SARS has published the explanatory summary of the proposed Tax Administration Laws Amendment Bill, 2026. The proposals could affect provisional tax estimates, PAYE obligations, VAT documentation, tax compliance status and penalty administration. The Bill is not yet law, so businesses should monitor the legislative process and prepare their records without treating the proposals as current requirements.
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The Council for Medical Schemes’ Audit Quality Indicators submission platform is now live. Medical scheme audit and risk committees should confirm their assessments, supporting documents and submission responsibilities before the 20 November 2026 deadline.
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SAICA has asked National Treasury to clarify how provisional taxpayer status is determined and to provide relief where obligations only become clear after year-end. The proposal is not law, but it highlights practical cash-flow and compliance risks for businesses with irregular income.
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