The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
31 articles matching “South African finance teams” Clear search
Accounting & Reporting
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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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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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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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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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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A simple rolling cash-flow forecast can help South African SMEs identify shortfalls early, reserve money for tax obligations and reduce avoidable financing costs.
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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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South Africa’s Companies Amendment Act changes remuneration reporting and annual financial statement obligations. Finance teams should confirm which disclosures and AGM processes apply to their company.
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A practical insight for South African businesses on protecting SARS eFiling access, verifying suspicious messages and keeping security contact details current.
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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 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.
Read articleCompliance
The CIPC’s upgraded Beneficial Ownership Disclosure Module gives law-enforcement agencies faster access to company ownership information. South African businesses should use the development as a prompt to review the accuracy of their beneficial ownership records, securities registers and supporting documents.
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