The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
The IASB has decided to proceed with a targeted amendment that could give eligible SMEs with an investment entity parent relief from consolidating certain subsidiaries. South African finance teams should monitor the final amendment, eligibility criteria and local implementation implications.
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The IFRS Foundation is reviewing feedback on a proposed consolidation exception for certain intermediate parent companies. South African SMEs should monitor the project, but no accounting policy change is required yet.
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SAICA has proposed amendments to its Headline Earnings Circular to align with IFRS 18. Comments are due on 13 October 2026.
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The IASB is preparing proposed IFRS 18 amendments on how certain government-imposed charges are presented and disclosed. South African finance teams should monitor the proposal and assess whether their reporting systems can support more detailed tax analysis.
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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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SARS has expanded its Global Minimum Tax administration to cover information exchange, GMT03 declarations, payment processing, assessments and penalties. South African entities within affected multinational groups should confirm their local responsibilities and internal controls.
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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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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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A new IFRS Foundation update discusses tentative agenda decisions involving IFRS 18, IAS 16 and IFRS 9. South African reporting teams should monitor the outcomes, but should not treat them as new accounting requirements yet.
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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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