SAICA’s Post

Join us tomorrow, 7th December, at 2.30 pm EAT as we discuss the new #transferpricing requirements in Kenya. Magdalene Mathendu and I will elaborate on the filing requirements, and Marcus Stelloh will share the experience of businesses in #southafrica with similar requirements, such as related party transactions disclosure, Master File and #countrybycountry reporting. He will cover how these impacted compliance, risks and operations and the strategies to manage them. South Africa is three years ahead of Kenya on these requirements. We will also discuss the emerging rigorous strategies in #kra #tp audits and how to navigate them, including the balance between #transferpricing and #customs valuation and audits. https://lnkd.in/dQPFAx9A

Compliance is key to business integrity. The Standards Organisation of Nigeria (SON) can seal premises and confiscate products if they fail to meet registration requirements. Stay informed and ensure your products are registered. Locally Rooted - Globally Connected #wtsglobal #wtsblackwoodstone #taxadvisory #businessadvisory #SONRegistration #SONCompliance #RegulatoryStandards #RegulatoryCompliance #QualityAssurance #Compliance #BusinessCompliance #SON #QualityStandards

📃 Stakeholder Notice Exemption of funds from certain provisions of the FSRA Conduct Standard No.1 of 2019 (PFA) Funds are exempted from paragraph 3(1)(b) of the S14 Conduct Standard relating to the use of the forms as set out in the Conduct Standard, as well as all other paragraphs in the Conduct Standard that refer to these forms. This exemption is subject to the condition that a fund must make use of the relevant forms as attached to this notice by paragraphs (3) to (11) of this notice. This exemption came into effect on 1 September 2024. 🧑💻 For more information, click at https://bit.ly/3Tf5mJn #⃣ #SAICATechnical #SAICAMiB #PFA #FSRA #ConductStandards FSCA South Africa Mthokozisi Sibisi

The African Peer Review Mechanism (APRM)'s detailed and insightful report on Ghana's engagement with international credit rating agencies is commendable. It thoroughly assesses both the challenges and opportunities, providing actionable recommendations that can significantly enhance the country's #credit #rating process. The emphasis on identifying gaps and sharing good practices not only aids #Ghana but also sets a valuable precedent for peer countries. This proactive approach underscores the #APRM's commitment to fostering robust #financial #governance and #international #collaboration.

The Financial Reporting Council of Nigeria (FRC) are always making significant updates to the Nigerian Financial Reporting Standards (NFRS). Key changes include strengthened enforcement powers and the establishment of a national repository for financial statements. Ensure your compliance and stay vigilant. #PWConsult #Accountng #FinancialReporting #Nigeria #Compliance #Regulations

‼️IMPORTANT UPDATE‼️ The Financial Action Task Force (FATF) has had its latest plenary and has updated its list of Jurisdictions under Increased Monitoring. Jurisdictions added: 🇰🇪Kenya 🇳🇦Namibia Jurisdictions removed: 🇧🇧Barbados 🇬🇮Gibraltar 🇺🇬Uganda 🇦🇪United Arab Emirates Jurisdictions that have completed their action plan and require an onsite visit to verify this: 🇯🇲Jamaica 🇹🇷 Turkey Please note these countries have not yet been removed from this list. If the onsite visit shows the action plan has been completed, these countries will likely be removed from the list of Jurisdictions under Increased Monitoring at the next plenary. 🇸🇾Syria & 🇾🇪Yemen FATF were unable to conduct an onsite visit before this plenary due to security issues ‼️Remember the Money Laundering Regulations were amended early this year which amended the definition of a High Risk Third County to be a country listed by FATF in its list of High-Risk Jurisdictions subject to a Call for Action and Jurisdictions under Increased Monitoring. So make sure your policies and procedures are updated to reflect these changed and more importantly make sure staff are aware of these changes and what they need to do if they have clients in jurisdictions that have been added or removed. #FATF #Plenary #HRTC

Dear Professional registered with Financial Reporting Council of Nigeria; this is a notification to revalidate your registration with the Council using your National Identification Number (NIN). Period for this exercise is from January 1, 2024 to February 20, 2024. We are already 3 days into the new year. Kindly comply with this notification to avoid suspension of your FRC numbers and consequent sanctions. Please read the caption. #Compliance #FinancialReportingCouncil #FRCNigeria #FRCNumber #Professionals #PunchNews #SCEjikonye.Co

At the heart of every business enterprise is a determined mind seeking to not labour in vain. Sadly, many challenges abound in the Nigerian business sphere that deter this motive, especially with the current state of the economy. In continuation with our previous post that discusses the formulation of the SME Corporate Governance Guidelines, with the FINANCIAL REPORTING COUNCIL OF NIGERIA and UN Global Compact Network Nigeria, here's a detailed insight on becoming a part of the SME Corporate Governance Guideline. These guidelines are designed to reduce bureaucratic excess, enforce standard operating procedures (SOPs), and establish clear consequences for non-compliance, restoring trust and promoting investment. For risk-averse businesses, adopting these guidelines will not only help in achieving compliance but will also set a new standard of excellence, positioning your enterprise at the forefront of industry best practices, which in turn promotes investability. It provides insights that help prevent fraud and manage financial risks and legal challenges. Swipe Left!! #SMEFutureForward #GovernanceForGrowth #SMEGovernance #CGGConference2024 #Sustainability #CorporateGovernance

Annual Returns filings are a requirement for registered entities around the world, Nigeria inclusive. It involves submitting updated information about a registered Entity’s financial status, proprietors, shareholders and principals officers, its activities, and overall governance structure. Filing of these Returns are a corporate compliance requirement that must be met by all companies, Business Names and Non-Government Organisations registered in Nigeria. In Nigeria, the Corporate Affairs Commission [“the Commission”] requires these informations to be filed within specific periods to keep the Commission abreast of the Entity’s activities, alongside the general public, with penalties imposed for each year of non-compliance. Click the link to comprehensive article is available below: https://lnkd.in/d5yiHWx7 #CAC #corporategovernance #regulatorycompliance #reporting

#Newsalert #Ghana The ORC GHANA (Office of the Registrar of Companies) has announced that starting 25 March, it will embark on a nationwide inspection to ensure compliance with the provisions of the Companies Act 2019.   Documents to be inspected include statutory books, evidence of compliance with filing obligations and incorporation documents. Appropriate fines will be issued for identified incidents of default and non-compliance.   According to ORC, the inspectors will be identifiable by their inspection tags. We advise our clients to look out for these tags but remain vigilant at all times.   Unfortunately, there is no published timetable or schedule for these visits. We will work with our clients to prepare for these inspections.   Download the public notice through the link https://lnkd.in/dMi7KawG #Ghana #AELEXGhana #regulatorycompliance #Ghanacompanylaws #AELEXNewsalert #Companyinspection #Corporatecompliance #corporatecommercialghana #ORCGHANA #Officeoftheregistrarofcompanies #AELEX #AELEXNews Doreen Naa-Adjeley Sowah Naa Asheley Ashittey Adelaide A. D. Asiedu, ACIArb KWESI DODI