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New financial reporting rule for attorneys

Publish date: 15 November 2019
Issue Number: 98
Diary: CompliNEWS
Category: Legislation

The Legal Practice Council has amended Rule 54.7, in terms of which international financial reporting standards were made the only financial reporting framework deemed acceptable for legal practitioners. CompliNEWS contributor Pam Saxby reports that the amendment allows legal practitioners to use any other financial reporting framework recognised by the Council. It was gazetted on 8 November 2019.

Legislation: Legal Practice Act 28 of 2014 - ss 95(1), 95(3) and 109(2)

Working Smart

By Lee Rossini

In the past, not much attention was paid to employee wellness, however, given the levels of uncertainty today, it is now a priority. Businesses that invest in employee well-being see measurable returns through improved productivity, reduced turnover, and enhanced workplace morale. To ensure the longevity of a business, employee wellness is a strategic imperative.