FIC Issues Guidance on the Definition of Trust and Company Service Providers
FIC recently published public compliance communication 6A (PCC 6A), in response to the amended Schedule 1 to the FIC Act, contained in Government Gazette, No. 47596, of 29 November 2022, which came into effect on 19 December 2022. This communication provides guidance on the interpretation of Schedule 1, item 2 accountable institutions, namely trust company service providers.
It is available on:
https://www.fic.gov.za/Documents/PUBLIC%20COMPLIANCE%20COMMUNICATION%20No6A.pdf
Recent Articles
Photographic Evidence
When an auditor obtains photographic evidence to support audit procedures, the requirements for audit evidence need to be considered, i.e. Sufficient and appropriate Relevant and reliable Accurate and [...]
Key Audit Issues and Emerging Trends in Financial Reporting Compliance
Your Content Goes Here Verification of compliance with the financial reporting framework Auditors frequently make use of disclosure checklists to verify compliance with the requirements of the relevant financial reporting framework. When making [...]
Changes in the SAICA Training Regulations
SAICA recently issued their 2026 SAICA Training Regulations, effective from 1 January 2026. Training officers must ensure that the current version of the training regulations is communicated to [...]
Audit Issues & Trends to Consider
Your Content Goes Here Failure to assess non-compliance under NOCLAR and report RIs It was found that auditors often do not assess non-compliance as required. This is a two-stage, escalating obligation: NOCLAR per [...]
Recap of 2025
As we come to the close of 2025, it’s appropriate to reflect on key articles and updates communicated throughout the year. In this article, we identify key takeaways [...]
Audit Issues & Trends to Consider
Your Content Goes Here Implementation of IFRS 19 The introduction of IFRS 19: Subsidiaries without Public Accountability: Disclosures represents a notable step towards reducing the financial reporting burden for many private companies. Its primary benefit is [...]