Accounting Standards Board
 Newsletter #1 - July 2020


In this edition of the Newsletter:


Events
Events

The ASB continues to promote social distancing. As a result, we will host our scheduled events for July 2020 virtually. If any new information becomes available about the regulations for the risk adjusted strategy for COVID-19, we will communicate this in our newsletter, website and social media.

The events for the various topics the ASB will be hosting are outlined below.


Participate in the review of GRAP 103 on Heritage Assets

The Board is undertaking a post-implementation review of GRAP 103. The purpose of the review is to receive feedback from preparers, users and auditors of financial statements about the implementation of the Standard. We will be hosting roundtable discussions where you can raise your views with the Board. The details are as follows:

 
Date Event Stakeholder group
9 July Roundtable discussion Provincial museums

How else can you get involved?

Views can also be submitted through the questionnaires on the ASB’s website.
The deadline for comment is 15 September 2020.


Contact details?

If you are interested in attending an event, or have any questions about the project, please email amandab@asb.co.za or call on 011 697 0660.

Read more about ED 180 on Post-implementation Review of the Standard of GRAP on Heritage Assets and access the questionnaires: http://www.asb.co.za/ed-180/.


Participate in discussions on IPSASB’s proposals for revenue and expenses

We will be hosting education sessions and roundtable discussions on the new Exposure Drafts issued by the IPSASB on potential changes to the revenue standards as well as issuing new guidance for government expenses. The Exposure Drafts are as follows:
  • ED 181 on IPSASB Exposure Draft on Revenue with Performance Obligations (ED 70)
  • ED 182 on IPSASB Exposure Draft on Revenue without Performance Obligations (ED 71)
  • ED 183 on IPSASB Exposure Draft on Transfer Expenses (ED 72)
The education sessions will provide an overview of the proposals in the Exposure Drafts, while the roundtable discussions will focus on discussing issues to be included in the comment letter to the IPSASB on the Exposure Drafts. If you are interested in attending a session, please email elizna@asb.co.za.

Comment on the Exposure Drafts is due locally on 1 October 2020, and the documents can be accessed on the ASB’s website by following this link: https://www.asb.co.za/proposal-feedback/

 
Date Event Stakeholder group
13 July Education session – ED 181 Municipalities
14 July Education session – ED 182 Municipalities
20 July Education session – ED 181 Auditors, firms, technical specialists, professional bodies, and academics
21 July Education session – ED 182 Auditors, firms, technical specialists, professional bodies, and academics
23 July Education session – ED 183 Auditors, firms, technical specialists, professional bodies, and academics
11 August Roundtable discussion – ED 181 Public entities, provincial treasuries, Parliament and legislatures
12 August Roundtable discussion – ED 182 Public entities, provincial treasuries, Parliament and legislatures
13 August Roundtable discussion – ED 183 Public entities, provincial treasuries, Parliament and legislatures
17 August Roundtable discussion – ED 181 Auditors, firms, technical specialists, professional bodies, and academics
18 August Roundtable discussion – ED 182 Auditors, firms, technical specialists, professional bodies, and academics
19 August Roundtable discussion – ED 183 Auditors, firms, technical specialists, professional bodies, and academics
31 August Roundtable discussion – ED 181 Members of the Public Sector Accounting Forum
2 September Roundtable discussion – ED 182 Members of the Public Sector Accounting Forum
4 September Roundtable discussion – ED 183 Members of the Public Sector Accounting Forum
14 September Roundtable discussion – ED 181 Municipalities
15 September Roundtable discussion – ED 182 Municipalities
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Address: International Business Gateway, Midridge office Estate, Midrand, Johannesburg
Telephone : 011 697 0660
E-mail : info@asb.co.za 

Copyright © 2020
Accounting Standards Board
 
Disclaimer
The Newsletter has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved or otherwise acted on by the Board.






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