We often hear about procedures not being followed correctly by SARS, commonly known as due process. But less often about taxpayers’ successfully contesting a decision made by SARS when there are errors in procedure. The fact is that errors ARE made by SARS which can result in the taxpayer’s re-assessed tax bill being invalidated – in other words, thrown out.

The International Auditing and Assurance Standards Board® (IAASB®) last week released proposals to enhance auditor reporting on special purpose financial statements. The Exposure Draft includes changes proposed to ISA 800, Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks, and ISA 805, Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts