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The Accounting Standards Board will review and potentially approve two new pronouncements during its final meeting of 2025. These are formal accounting standards or guidance documents that will shape financial reporting practices in South Africa.
Interested parties can provide input on proposed accounting standards by submitting comments during the consultation phase, which is part of the standard-setting process managed by the Accounting Standards Board.
The Accounting Standards Board provides information on key topics being considered during the 2023–2024 period, including General Assets and Understanding The Financial Statements. These are part of the ongoing standard-setting agenda and may lead to future exposure drafts or consultations.
The Accounting Standards Board invites participation from observers and technical experts in its board and technical committee meetings, which are held throughout the year as part of the due process for standard setting.
Tenderers can claim preference points for specific goals such as BBBEE compliance, local economic development, and other socio-economic objectives when submitting tenders. To claim these points, tenderers must complete the SBD 6.1 form and provide supporting documentation. Failure to submit proof will result in no points being awarded for specific goals.
This opportunity offers a compilation of common questions and answers regarding current accounting standards and practices. It is designed to support users in understanding key aspects of financial reporting under the new standards.
This opportunity presents insights drawn from past reviews and queries made to the Accounting Standards Board. It helps practitioners avoid common pitfalls and improve compliance in financial reporting.
This opportunity involves engaging with the foundational principles outlined in GRAP 1, which are part of the Government Reporting and Accounting Principles. It is intended for professionals involved in public sector financial reporting who wish to understand or contribute to the application of these principles.
This opportunity provides access to a presentation discussing financial statements and the conceptual framework used in accounting standards. It is aimed at professionals seeking clarity on core accounting concepts and their practical application.
The ASB offers training materials that help users understand how sustainability considerations should be integrated into financial statements.
Individuals or organisations can request a callback from the Accounting Standards Board for technical or administrative inquiries related to standards or processes.
The ASB allows stakeholders to participate in the development of new accounting standards by submitting comments on draft proposals through official channels.