Minister of Finance increases maximum monetary fines for auditors

South Africa’s Minister of Finance increased the maximum fines that the Independent Regulatory Board for Auditors can impose on auditors for misconduct. On 15 June 2023, the Minister of Finance, Enoch Godongwana, issued a notice in the Government Gazette to increase the maximum monetary fines that t…

https://www.polity.org.za/article/minister-of-finance-increases-maximum-monetary-fines-for-auditors-2023-06-19

The cost of non-compliance – Sars’ shrapnel knows no borders

South African Revenue Service (Sars) has made it easier to clamp down on individuals it deems as “sophisticated taxpayers”, specifically those with the ability “to apply for more than the yearly R1-million single discretionary allowance”. This is per the Sars media statement on May 3, 2023, and is o…

https://www.polity.org.za/article/the-cost-of-non-compliance-sars-shrapnel-knows-no-borders-2023-06-02