Entities often enter into financing arrangements. Certain of these arrangements contain complex terms, which may complicate the classification of the transaction. The terms of each agreement should be carefully analysed when making the classification of the transaction as either equity or liability. View PDF

Entities are required to retain and protect important documents (hardcopies, online or other media) for a certain number of years before it being eligible for destruction. As of 1 July 2020, the effects of the Protection of Personal Information Act (POPIA) should also have been taken into consideration. SAICA issued an updated Guide on the retention of records during May 2021 View PDF

New Amendments with regards to Annual Improvements to IFRS 2018 – 2020 Cycle, IAS 16 Property, plant and equipment (Proceeds before intended use), and IAS 37 Provisions, Contingent Liabilities and Contingent Assets (Onerous Contracts – Costs of fulfilling a contract) will come into effect 1 January 2022.View PDF

IFRS 9 Financial Instruments became effective for periods beginning on or after 1 January 2018. IFRS 9 introduced the application of the “expected credit loss” model which differs from the incurred loss model applied in terms of the previous standard, IAS 39 Financial Instruments. The expected credit loss model is applicable to all financial assets subsequently measured at amortised cost or fair value through other comprehensive income. This applies to intercompany loans included in the separate financial statements.View PDF

The South African Constitution gives every person the right to privacy, and the right to safeguarding of personal information. The Protection of Personal Information Act (POPIA) gives effect to this right. Here is what you need to know!View PDF