IFRS 18 becomes effective 1 January 2027 and is expected to have a material impact on how entities present their Statement of Financial Performance in the financial statements. The Statement of Financial Performance is presented either as a single statement of profit...
Insights
Benefit from the expertise of Nexia SAB&T professionals, and immerse yourself in our thinking on the challenges facing businesses today – and how they can be solved.
Nexia SAB&T Tips - View all
Why “listed” does not determine the accounting A common misconception is that if a bond is traded on an exchange, it must be valued at fair value through profit or loss (FVTPL). However, IFRS 9 does not support this conclusion. Listed bonds are common investments held...
The tables outline Standards of Generally Recognised Accounting Practice (GRAP) issued by the Accounting Standards Board of South Africa that are not yet effective for year-ends ending 31 March 2026. Entities applying GRAP should use GRAP 3 in disclosing the impact of...
The tables outline the effective dates of IFRS Accounting Standards, separately identifying the effective date of each significant amendment made to those Standards for financial statements starting on or after 1 January 2026 together with approved but not effective...
IFRS Accounting Standards* require disclosure of material accounting policies. These include: Make Your Policies Speak the Language of Your Financial Reality Your accounting policy disclosures should be: Relevant – Only include information that is essential for...
The third edition of the IFRS for SMEs® Accounting Standard, issued in February 2025 and effective from January 2027, brings several key amendments compared to the second edition issued in 2015. This report provides an overview of these amendments, highlighting...
Before formalizing an external audit engagement, auditors are required to follow a structured process to ensure compliance with professional standards and ethical responsibilities. According to ISA 210: Agreeing the Terms of Audit Engagements, there are a number of...
The tables outline Standards of Generally Recognised Accounting Practice (GRAP) issued by the Accounting Standards Board of South Africa, effective for year- ends after 1 April 2025. Entities applying GRAP should use GRAP 3 and Directive 5 in adopting new standards...
The tables outline the effective dates of IFRS Accounting Standards, separately identifying the effective date of each significant amendment made to those standards for financial statements starting on or after 1 January 2025 (together with approved but not yet...
![Amendments to Companies Act [Amendment Act 16 of 2024 and Second Amendment Act 17 of 2024]](https://www.nexia-sabt.co.za/wp-content/uploads/2025/02/compliance-400x250.jpg)
In a previous issue, we discussed amendments made to section 30 of the Companies Act relating to a remuneration policy and report. From 27 December 2024, other sections proposed in the Companies Amendment Act 16 of 2024 and the entirety of the Companies Second...
Applying professional skepticism during the audit process is integral to our auditing standards. Lacking professional skepticism in audits has led to numerous audit failures, resulting in regulatory actions and malpractice claims. Professional skepticism is an...
In July 2024, new amendments were made to the Companies Act No. 71 of 2008 (“Companies Act”), particularly related to Section 30 Of the Companies Act that deals with Directors’ remuneration. These amendments (Companies Amendment Act 16 of 2024) include new provisions...
Business News - View all
The South African Reserve Bank has signalled closer scrutiny of cross-border payment facilitators, reflecting the rapid growth of digital commerce and offshore merchant activity. This is an important development for fintechs, payment providers, online platforms and...
CIPC has moved further away from email-based submissions, making its Case Management System the mandatory channel for several important processes. This is a practical change for companies, directors, practitioners and advisers who still rely on legacy email addresses...
SARS is increasingly extending its digital compliance approach beyond income tax and into customs, travel and cross-border trade. Recent changes suggest that border compliance is becoming more data-driven, more immediate and less tolerant of gaps in documentation. ...
Big businesses have big budgets, big teams, and big safety nets. Small businesses have none of these things … And at times this can be to their advantage. The mistake many small business owners make is looking up towards their conglomerate competition and trying to...
Millennials and Gen Z – two generations raised on social media, shaped by climate anxiety, and equipped with instant access to information – are now rewriting the rules of consumer behaviour. For these switched-on generations, purchases are a statement of identity....
The rapid rise of artificial intelligence is redefining corporate governance in South Africa, with the newly introduced King V Code placing clear responsibility on boards to oversee its ethical and strategic use. King V, effective from 2026, reflects a broader shift...
Moody’s decision to change South Africa’s outlook from stable to positive marks an important shift in how the country’s credit prospects are being assessed. While South Africa’s sovereign rating remains unchanged at Ba2, the improved outlook signals that Moody’s sees...
The South African Reserve Bank’s May Monetary Policy Committee statement points to a more difficult economic environment than seemed likely only a few months ago. The MPC increased the policy rate by 25 basis points to 7%, with four members supporting the move and two...
South Africa’s tax landscape is undergoing a significant shift as the South African Revenue Service (SARS) accelerates its move toward stricter compliance and digital enforcement. The latest developments signal a change in approach: SARS is becoming more automated,...
While everyone’s talking about AI, trends are emerging that show the most successful small businesses have returned to the fundamentals: maximising every minute and tightening the leaks in local operations. Running a business in today’s topsy-turvy world is all about...
Particularly in volatile economic times like these, effective budgeting is a critical driver of business success. This is because a budget enables sustainable growth by aligning financial resources with strategic business goals. We can assist you to create...
Personal crises, such as bereavement, divorce, illness, and mental health challenges, are a reality of life, and how you respond when your employee is struggling says everything about you as a leader. Handle the situation badly and you risk losing a good person....
Audit and accounting - View all
The real test is not whether backups exist, but whether the business can restore trusted operations. Ransomware remains one of the most disruptive cyber threats facing organisations. It can encrypt systems, interrupt operations, expose sensitive information and place...
A calm, structured response can reduce harm and support better decision-making. Data breaches are no longer rare events reserved for large multinationals. They affect public bodies, private companies, professional firms, healthcare providers, schools, financial...
March 2026 Spotlight on the new Expected Credit Loss (ECL) approach in GRAP The revised GRAP 104 is effective from 1 April 2025. The new Standard introduces a new model for impairment of financial assets measured at amortised cost. Although the classification of...
By handling almost instantly the repetitive, menial bookkeeping tasks that previously consumed much company time and resources, Artificial Intelligence is fundamentally streamlining accounting processes. AI can reduce costs, minimise risks, and provide real-time...
The tables outline the effective dates of IFRS Accounting Standards, separately identifying the effective date of each significant amendment made to those Standards for financial statements starting on or after 1 January 2026 together with approved but not effective...
IFRS Accounting Standards* require disclosure of material accounting policies. These include: Make Your Policies Speak the Language of Your Financial Reality Your accounting policy disclosures should be: Relevant – Only include information that is essential for...
The document outlines the purpose, scope, eligibility, key features, and implementation timeline of the IFRS 19: Subsidiaries without Public Accountability standard. IFRS 19 will be effective for annual reporting periods starting on or after January 1, 2027. This...
If you want to scale your business, you need to know the numbers. But many entrepreneurs still treat financial roles like interchangeable parts. “I’ve got a bookkeeper, so I’m covered,” they say. Worse still: “My accountant only helps me with my taxes”. Understanding...
Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to cut costs, improve efficiency, and reduce administrative burdens. From automating invoices to predicting cash flow, AI is reshaping the way smaller businesses manage...
Accounting isn’t just something to worry about during tax season. It’s the engine room of every decision you make, from whether you can hire, to when you should scale. Sadly, far too many businesses still cling onto accounting myths that affect every decision they...
The third edition of the IFRS for SMEs® Accounting Standard, issued in February 2025 and effective from January 2027, brings several key amendments compared to the second edition issued in 2015. This report provides an overview of these amendments, highlighting...
The 2025 Budget Speech addressed the economic stagnation of the past decade, with GDP growth averaging less than 2%. In 2024, the economy grew by only 0.6%, and medium-term projections estimate an average growth of 1.8%. The speech emphasized the need for faster,...
Taxation - View all
SARS is increasingly extending its digital compliance approach beyond income tax and into customs, travel and cross-border trade. Recent changes suggest that border compliance is becoming more data-driven, more immediate and less tolerant of gaps in documentation. ...
For the 2026 filing season, taxpayers selected for auto-assessment will receive notice between 1 and 12 July, before the broader filing period opens for non-provisional taxpayers on 13 July. The aim is to reduce the burden on taxpayers by using information SARS...
SARS's "The Power of Done" campaign promotes seamless, digital tax compliance for Tax Filing Season 2026. The season officially opens on 13 July, although auto-assessed taxpayers will receive notifications from 1 to 12 July. Find out here what the deadlines are, which...
When does the 2026 tax filing season start? The 2026 filing season begins with auto-assessments issued between 1 July and 12 July 2026. For taxpayers who must file manually, submissions open on 13 July 2026. What are the key filing deadlines? Non-provisional...
South Africa’s tax landscape is undergoing a significant shift as the South African Revenue Service (SARS) accelerates its move toward stricter compliance and digital enforcement. The latest developments signal a change in approach: SARS is becoming more automated,...
05 June: PAYE submissions and payments 25 June: VAT manual submissions and payments 29 June: Excise duty payments 30 June: VAT electronic submissions and payments CIT Provisional Tax payments where applicable End of the 2nd fiscal quarter.
This tax season marks an important shift for trusts, which are now subject to heightened reporting requirements, regardless of activity, as well as automated penalties for non-compliance starting on 4 May 2026. If you have a non-compliant trust, even if it is...
VAT refunds are a statutory entitlement under South African tax law. Yet for many compliant businesses, particularly in capital‑intensive sectors, refunds are increasingly delayed for extended periods with little explanation. In a recent matter involving a VAT refund...
If you’re a small business owner aged 55 or older, the 2026 Budget contained some very good news. Not only has the CGT exemption on the sale of small business by older persons been increased, but the definition of “small business” has also been expanded. This could...
The Annual Employer Reconciliation Declaration (EMP501) remains a focus area for SARS. Employers have until the end of May to submit their declarations for the period 1 March 2025 to 28 February 2026. We invite you to rely on our expertise to ensure compliance with...
07 May – PAYE submissions and payments 25 May – VAT manual submissions and payments 28 May – Excise duty payments 29 May – VAT electronic submissions and payments and CIT Provisional Tax payments where applicable
Advisory and business - View all
The real test is not whether backups exist, but whether the business can restore trusted operations. Ransomware remains one of the most disruptive cyber threats facing organisations. It can encrypt systems, interrupt operations, expose sensitive information and place...
A calm, structured response can reduce harm and support better decision-making. Data breaches are no longer rare events reserved for large multinationals. They affect public bodies, private companies, professional firms, healthcare providers, schools, financial...
Understanding the tax benefits and limitations of a trust or special trust is crucial to ensuring the trust beneficiaries are provided for as intended. South Africans can choose between several different trust structures, each with different purposes, benefits and...
Boards are operating under increased scrutiny, with stronger regulatory enforcement, rising stakeholder expectations, and greater personal accountability for directors. In this environment, it is no longer sufficient to rely on high-level commitments. Boards are...
A New Chapter in South African Corporate Governance South Africa’s corporate governance framework has entered a new phase with the introduction of the King V Report on Corporate Governance. Issued by the Institute of Directors in South Africa, King V replaces King IV...
South Africa’s 2026 Budget highlights the importance of restoring the financial and operational health of public sector institutions, particularly state-owned companies responsible for delivering critical infrastructure and services. Many of the country’s largest...
Price changes are part of running a business at this time of the year, and generally one of the first things business owners consider when they return to the office. Many owners, however, still treat increases as a last resort and/or fear making them – even when...
CEOs, globally and in Africa, are optimistic about the 2026 outlook for their organisations. In fact, most are purposefully investing in AI, talent and ESG. Find out here just how confidently global and African CEOs are going into 2026, what their top challenges and...
ISA 402 specifically excludes services provided by financial institutions that are limited to executing transactions specifically authorized by the entity using accounts held at the banking institution e.g. bank processing transactions from a current account or a...
The 30th UN Climate Change Conference (COP30), held in Belém, Brazil, was billed as the “Implementation COP,” aiming to turn climate pledges into action. While progress was made on several fronts, the summit exposed deep divides on critical issues. Adaptation and...
Small and medium-sized enterprises (SMEs) often face intense pressure to innovate and make decisions quickly. Yet, the traditional boardroom setting can stifle creativity and well-being. Enter forest bathing—a Japanese practice known as shinrin-yoku—which involves...
Whatever your line of work, moving from solo-business or freelancer to taking on staff is a big choice usually prompted by steady demand you can’t handle on your own. Taking on staff is about much more than finding an extra pair of hands, though. It also means...
