Home Registry General News 3 July 2011

3 July 2011

Venue and booking details: Consumer Protection Act
and Companies Act - Independent Review Implications

 

Johannesburg / 3 July 2011

 

I refer you to the communiqué that was sent out by the IRBA on 10 June 2011: Training for Registered Auditors: Consumer Protection Act and Companies Act – Independent Review Implications. In that communication we advised that the venue and booking details would be confirmed as soon as they were available. The details are included below, and for convenience, we reproduce the information in the communiqué of 10 June 2011.

 

We will be presenting training sessions to RAs countrywide from 15 to 26 August 2011 on the following dates and at the following venues:

 

Date	City	Venue	Venue tel	Venue map
15 August Monday	Port Elizabeth	Summerstrand Hotel, Marine Drive, Summerstrand	041 583 3131	Summerstrand Hotel - Location
16 August Tuesday	East London	Garden Court, Cnr. John Baillie & Moore, East London	043 722 7260	Garden Court East London - map
17 August Wednesday	Cape Town	CTICC, Convention Square 1 Lower Long Street	021 410 5000	CTICC Directions & maps
18 August Thursday	George	Protea Hotel King George	044 874 7659	PH King George Location
19 August Friday	Nelspruit	Southern Sun Emnotweni 15 Government Boulevard Riverside Park ext. 1	013 757 3000	Emnotweni map
22 August Monday	Pretoria	CSIR ICC Meiring Naude Rd, Brummeria	012 841 4615	CSIR ICC map
23 August Tuesday	Durban	ICC Durban 45 Bram Fischer Road Durban	031 360 1350	ICC Durban map
24 August Wednesday	Polokwane	Protea Hotel The Ranch	015 290 5000	The Ranch map/directions
25 August Thursday	Johannesburg	Southern Sun Grayston Cnr Grayston and Rivonia Rd, Sandton	011 783 5262	SS Grayston map
26 August Friday	Bloemfontein	Protea Hotel Willow Lake 101 Henry Street, Willows	051 412 5400	PH Willow Lake map

 

Cost

 

The cost for the training session, covering both topics, is R1 300.

 

Seminar Programme

 

Registration	08h30-09h00
Consumer Protection Act	09h00-12h00
Lunch	12h00-13h00
Independent review implications of the Companies Act	13h00-16h00

 

CPD

 

The training will contribute to 6 hours of CPD and certificates will be issued to attendees.

 

The Consumer Protection Act

This training will aim to provide auditors with insights into the effect of the Consumer Protection Act on their business and role as an auditor. In order to make the interaction as useful as possible, we would appreciate it if you would send any questions which you have at this stage about this legislation, so that we can address them in the body of the presentation. Send questions to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

The presenter will be an attorney expert on this legislation, Eunice van Zyl, who is a partner at Van der Westhuysen Attorneys. She has advised extensively on the National Credit Act and the Consumer Protection Act and has developed an on-line training course on the Consumer Protection Act (in partnership with Compliance Online). She is also the co-author of Juta's Commentary on the Consumer Protection Act (to be published).

 

Independent review implications of the Companies Act

As you are aware, the Companies Act, 71 of 2008, and the Companies Regulations, 2011, became effective on 1 May 2011. There is a requirement that private companies determine their public interest score in order to ascertain whether they are subject to audit or independent review.

 

The new legislation, and specifically Regulation 29, has various implications for the auditing profession, e.g.

• Calculation of the public interest score;
• The independent review standard to be used;
• Who can do the independent review of private companies with a public interest score between 100 and 350;
• Exempt companies and independently compiled versus internally compiled financial statements;
• Understanding the 'step approach' to the regulation of private companies at 3 levels;
• Implementation of an accreditation model for independent reviews; and
• The impact on Close Corporations.

 

During the next two months the IRBA will be working closely with the Companies and Intellectual Properties Commission to determine and agree on the interpretation of the independent review requirements as per the Companies Act and Regulations.

 

The IRBA consultant on this project, Jillian Bailey, will be providing the training in this area. Jillian was previously Practice Review Director at the IRBA, and has extensive knowledge and background to the relevant processes.

 

For further information regarding the event, contact Joanne Johnston:
e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or telephone 087 940 8780.

 

Terms and conditions

1. Payment
   1. Bookings close five working days prior to the session date.
   2. Should you not receive your tax invoice timeously as confirmation of your booking, please e-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
   3. Delegates are required to make payments in advance and to submit proof of payment to the email address stated on the invoice no later than five working days prior to the session date.
   4. Delegates who enrol less than 7 working days prior to the session date will be requested to produce proof of payment on the day of the session.
   5. The IRBA's liability in the event of cancellation will be limited to a refund of the session fee.
2. Substitutions
   1. You may arrange to send a substitute to attend the same session that you had booked for.
   2. Only written notification of substitutions will be accepted.
   3. Kindly advise the IRBA in writing of the substitute attendee at least 24 hours before the session, to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
3. Transfers
   1. The IRBA must be informed in writing of requests to transfer your booking to a different date / venue.
   2. All requests to transfer must be directed to Joanne Johnston at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
   3. Telephonic notification will not be accepted.
4. Cancellations
   1. Notice of cancellation must be made in writing to Joanne Johnston, by e-mail or fax, at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 086 524 6131. Telephonic cancellations will not be accepted under any circumstances.
   2. Cancellations received later than 8 calendar days prior to the commencement of the session will be subject to the full fee.