The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
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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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 IASB has extended the comment period for proposed IFRS 9 and IFRS 7 amendments. South African finance teams using hedge accounting should review the proposals before the revised 30 November 2026 deadline.
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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 has moved a proposed consolidation exception for certain IFRS for SMEs entities closer to finalisation. South African groups should review whether the proposal could affect their 2027 reporting plans, but it is not yet an enacted requirement.
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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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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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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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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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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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