RSM South Africa
Building complex
21 July 2017

New accounting and audit requirements for Bodies Corporate

Previously, only Sectional Title Schemes with ten or more units were required to have their annual financial statements audited.
19 July 2017

An employee's guide to understanding your IRP5

Another tax year has come to an end and the 2017 tax filing season for all individuals opened on 1 July 2017. This is the time when each individual who has received income during the period of 1 March 2016 to 28 February 2017 will need to submit...
Government building
18 July 2017

Important notification from SARS for all employers

Notification from SARS for re-submission of 2017 employer annual reconciliation declaration (EMP501) and associated IRP5 /IT3(A) certificates


Library image
12 July 2017

NOCLAR - Not just for auditors

Auditors, especially in South Africa with its “Reportable irregularities” requirements, are painfully aware of their duties to report irregularities. These duties are well defined in the Auditing Professions Act, International Standards on Auditing...
IFRS News in Brief
10 July 2017

IFRS News in Brief - Issue 72

PUBLICATIONS AND ANNOUNCEMENTS Release of IFRIC Interpretation 23 Uncertainty over Income Tax Treatments
6 July 2017

Prescribed officers - Tag! You're it!

During consultation with clients, the question often arises as to which individuals in a company would be considered to be a Prescribed Officer in terms of the Companies Act 71 of 2008 (“the Act”), and what does this mean for such an individual?
23 June 2017

The unknown value of auditors to an SME

Running a small or medium-sized enterprise (SME) requires you to wear a number of hats, but there are certain areas that are unlikely to fall within your expertise and may require a third party expert. Your auditor is one such third party expert...
15 June 2017

Bad debt on a foreign loan

Section 24I requires that a gain or loss on a foreign exchange transaction be included in or deducted from the income of a taxpayer carrying on a trade within the Republic. In essence, section 24I taxes all gains and losses, whether it is realised...
13 June 2017

The importance of knowing your provisional tax status

This article is intended to assist individual taxpayers in understanding their status as a provisional taxpayer. To fully comprehend who qualifies as a provisional taxpayer, we will look at the definition of a provisional taxpayer. A provisional...
7 June 2017

IFRS News in Brief - Issue 71

PUBLICATIONS AND ANNOUNCEMENTS Release of the final standard on insurance accounting