According to the Disaster Management Act, 2002 and relevant Regulations the South African Government announced restrictions on the free movement of citizens.
The Regulations provide for relief to the limitations of movement for some designated groups. SAIBA designated members may provide essential financial and other permitted services under Lockdown Regulations Alert Level 4 and lower:
- This means they are allowed to travel to clients and open their firms.
- A special permit (as per Lockdown Regulations Form 2) is required to travel as well as a SAIBA Practice Licence (additional for SAIBA members).
The opportunities for business accountants
As accountants, SAIBA designated members are classified as providing critical support and skills to ensuring the operations of the South African economy:
- Ensure the health of the financial reporting supply chain which is crucial to improve business performance, protecting jobs, and paying taxes.
- Ensuring that unemployed persons, retrenched workers and struggling SMEs are able to apply and submit applications the social and economic relief stimulus packages.
- Government departments, state agencies, funders, banks rely on the work performed by our members in assisting SME with their compliance functions.
The lockdown regulations classifies some of the services offered by members as essential allowing them to travel to clients even under lockdown level 4.
What SAIBA needs to do
SAIBA is a legislative controlling body for accountants, accounting officers and independent reviewers. As a controlling body we are required to monitor and sanction compliance to standards of member conduct. We perform this function by ensuring compliance by our members to the engagement standards. We offer CPD and training courses to help guide members with their everyday challenge in the workplace. We lobby government and SME associations to allocate work to business accountants.
What you need to do
Study the SAIBA Essential Services guide and ensure you perform the engagement in terms of the Act and Regulations.
Members are required to register with www.saiba.academy and read www.accountingweekly.com to stay updated and do a specialist license to unlock additional advisory work.
In summary you can: