The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
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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CMS Circulars 27 and 28 introduce future auditor-rotation requirements for public-interest medical schemes and encourage joint or shared audits. Finance teams should begin mapping tenure, independence and transition requirements well before 2028.
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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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The SARB is inviting comment on a proposed Synthetic Financial Centre framework. Although it is not yet law, affected institutions should begin assessing the potential accounting, tax and control implications of managing qualifying offshore portfolios from South Africa.
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A disciplined review of accounting estimates can help South African SMEs produce more reliable financial statements and explain changes clearly.
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SARS has published requirements for companies seeking to qualify as a REIT, including asset, rental income, leverage, distribution and governance tests. Property groups should assess their financial reporting and tax controls before the rules apply to a new year of assessment.
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Businesses that submit third-party data to SARS have until 31 October 2026 to report information for the period ended 31 August. Accurate data matters because SARS uses it to pre-populate and assess tax returns.
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