GRAP Updates This session will unpack the history and Background of GRAP and Applicable Accounting Standards and GRAP Standards – Approved and Effective. Join Waitlist Register
Save the date April 26, 2024 12:00 PM - 2:00 PM GMT+2
Event Details This session will explain the Standards of GRAP that form the GRAP reporting framework for 2023/24, and look beyond to changes expected in future years. The pronouncements that are effective in this period – such as changes to accounting for employee benefits and new guidance on materiality – will be explained in detail. The session will also provide information on new and amended Standards of GRAP that are not yet effective. Lastly, attendees will be informed of the latest developments at the ASB.
Agenda
12:00 PM - 12:30 PM
GRAP reporting landscape- 2023/24 and beyond GRAP reporting landscape- 2023/24 and beyond 12:30 PM - 1:00 PM
The effect of past decisions about materiality on future financial statements The effect of past decisions about materiality on future financial statements 1:10 PM - 1:45 PM
Employee Benefits- revised requirements Employee Benefits- revised requirements 1:45 PM - 2:00 PM
Update on activities of the ASB and recently issued guidance Update on activities of the ASB and recently issued guidance Speakers
Siyasanga Nondlazi Facilitator at ASB
Siyasanga Nondlazi Facilitator at ASB Ms. Siyasanga Nondlazi is a Standard Setter at the ASB where she is responsible for setting Standards of Generally Recognised Accounting Practice (GRAP) that specify how transactions and other events are to be recognised, measured, presented, and disclosed in public sector financial statements. Ms. Nondlazi is a seasoned professional with a strong background in auditing which began in the private sector and later progressed to the public sector. She has spent almost a decade of her career in the public sector in various positions at the AGSA. She also gained exposure to accounting, governance, regulatory compliance, performance information, and procurement. During her tenure with AGSA, she also worked on strategic projects aimed at building efficiencies and innovation in audit processes while delivering high-quality audits. She actively participated in the Public Sector Audit Committee Forum working group, where she contributed to extensive research and drafted guidance papers to provide thought leadership on matters relating to the function, duties, and composition of public sector audit committees. Ms. Nondlazi spent the last three years of her career as a Technical Specialist providing technical support and guidance on complex matters to audit business units. Her professional qualifications include being a Registered Government Auditor (RGA) with the South African Institute of Government Auditors (SAIGA) and holding a postgraduate diploma in Accounting Science.
Nabeela Iman Shah Facilitator at ASB
Nabeela Iman Shah Facilitator at ASB Nabeela Imam Shah is a standard setter at the Accounting Standards Board. She joined in 2022. She chairs the Public Sector Accounting Forum and the Financial Instruments Reference Group. Nabeela is currently involved in the Measurement project to develop requirements on the measurement of assets and liabilities for the Standards of GRAP. She led the Improvements to Standards of GRAP project as well as held local discussions on the IPSASB’s sustainability reporting projects. Prior to joining the Accounting Standards Board, she was a technical specialist in the Financial Reporting Group service line at EY, where her focus was performing financial statement reviews, conducting training and providing technical assistance to auditors and consultants. She was the project manager and a technical contributor to the 2018 EY Model Public Sector Group financial statements prepared using the IPSAS framework. Nabeela Imam Shah is a qualified Chartered Accountant registered with SAICA. She has eleven years of experience spanning in the public and private sectors and across various industries.
Elizna Van der Westhuizen Technical Director of Accounting Standards Board in South Africa Elizna Van der Westhuizen Technical Director of Accounting Standards Board in South Africa https://www.asb.co.za/ Elizna van der Westhuizen is the Technical director at the Accounting Standards Board. Since joining the Secretariat in 2016, she has contributed to many local and international projects. She is currently leading the project to develop a Standard of GRAP on Social Benefits, and the post-implementation review of GRAP 109 on Accounting by Principals and Agents. She recently led local discussions on the International Public Sector Accounting Standards Board’s ongoing revenue project. Prior to joining the ASB, she was a technical specialist in the Audit Research and Development unit at the Auditor-General South Africa, where her focus was developing audit guidance and providing technical assistance to auditors of national and provincial departments. Her career also included work in the AGSA and PwC (South Africa and Dubai) audit practices. Ms van der Westhuizen is a qualified CA(SA) with fifteen years experience in public and private sectors across various industries and lines of service. She is a graduate of the University of Stellenbosch, with a Bachelor of Accounting (Honours).
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