FINANCIAL MATTERS AMENDMENT ACT IN FORCE – WITH SIGNIFICANT IMPLICATIONS FOR AUDITORS

FINANCIAL MATTERS AMENDMENT ACT IN FORCE – WITH SIGNIFICANT IMPLICATIONS FOR AUDITORS

• 14 July 2023
• New Legislation
• SA Legal Academy

The Financial Matters Amendment Act, 2023, came into force on 14 July 2023 by notice in the Government Gazette.

Signed into law a week earlier, the new piece of legislation has significant implications for the auditing profession – and, in particular, the powers of the enforcement committee when an auditor admits guilt to a misdemeanour.

As SA Legal Academy has already reported, the Act also amends:

• various pieces of legislation dealing with pensions, and
• the Land & Agricultural Development Bank Act, 2002, among other things by replacing provisions for judicial management with business rescue measures in keeping with the requirements of the Companies Act, 2008.

Please click the links below for more information:

• Government Gazette notice
• Act

Published by SA Legal Academy Policy Watch

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