NEW REQUIREMENTS FOR THE AUDIT OF GROUP FINANCIAL STATEMENTS The International Auditing and Assurance Standards Board (IAASB) issued new requirements designed to enhance the quality of audits of group financial statements. International Standard on Auditing (ISA) 600 (Revised and Redrafted) – Special Considerations – The Audit of Group Financial Statements (Including the Work of Component…

A survey of tax practitioners in South Africa ‘Tax compliance is becoming so complex that only wealthy people can afford it.’ ‘I battle with the monthly paperwork. It takes too much time to pay all the taxes.’ ‘Have one tax for small business to reduce the compliance and administrative burden. This will encourage more people…

Can the Taxpayer Recover Costs Incurred in Seeking Legal Advice and Related Accounting Services Necessary to Answer the SARS Query? A question that arises is whether a taxpayer is entitled to recover costs incurred in answering a query raised by SARS that does not give rise to an additional assessment or that can be referred…