#WATCH I The ability to interpret annual financial statements with the purpose of identifying potential tax risks and opportunities is a valuable skill for the registered tax practitioner in his/her daily activities. In this practical and informative webinar, we will analyse a sample of publicly available financial statements and consider the tax risks and opportunities that reveals itself from a careful analysis of the annual financial statements.

Interpreting Annual Financial Statements

Overview

In this practical and informative webinar, we will analyse a sample of publicly available financial statements and consider the tax risks and opportunities that reveals itself from a careful analysis of the annual financial statements.

Webinar content

We will discuss the following:

• The importance of the directors’ and governance reports.
• Expected tax risks and opportunities depending on the industry in which the company operates.
• Tax risks flowing from funding mechanisms’ including shareholder loans, external funding, and different classes of share capital.
• Transfer pricing, dividend tax and interest limitation rules.
• Overview of current and non-current assets and impact on income tax, VAT and PAYE.
• Overview of current and non-current liabilities and impact on income tax, VAT and PAYE.
• Review of deferred tax make up.
• Overview of auditor’s report and impact of qualifications on ITR14.
• Items to be on the lookout for and the detailed income statement.
• The notes to the annual financial statements, contingent liabilities and IFRIC 23 disclosures.

Competencies developed in this CPD

After attending this webinar, you will be able to:

• Review completeness and accuracy of tax disclosures in annual financial statements.
• Prepare and submit ITR14’s and IRP6’s.
• Performing tax due diligences.
• Deal with dispute resolution.
• Assist with tax implications of business rescue initiatives.

Presenter

Johan Heydenrych CA(SA)

Johan has specialised in taxation since 1991. He was a tax partner in KPMG from 1997 to 2020 and is currently a partner in the Kreston SA network specialising in taxation. He provides a wide range of tax services to various clients across industries. These include, but are not limited to, the following:

• Advice on tax risk management and tax governance.
• Tax compliance services including but not limited to ITR14 and IT14SD.
• Dealing with tax disputes including representing clients at alternative dispute resolution (ADR) hearings.
• Submission of documentation and revised returns under the voluntary disclosure programme.
• Issuing of tax technical opinions on income tax, value-added tax (VAT) and PAYE. This includes preparing briefs to senior counsel and submissions of requests for binding opinions from SARS.
• Audit support services including normal tax and deferred tax disclosure and disclosure of uncertain tax positions.
• Assistance with implementation of tax reporting for new accounting standards such as IFRIC 23, IFRS 9, IFRS 15 and IFRS 16.
• Facilitation of tax diagnostic sessions with existing and prospective clients.
• Advice on mergers, acquisitions, and reorganizations.
• Tax due diligences
• Advice on tax implications of recapitalization transactions, debt restructures, liquidations, and de-registrations.

Johan has been a regular presenter for The Tax Faculty over the past five years. In 2020, he presented webinars on tax risk management, Covid-19 relief, ITR14 preparation, dispute resolution, value-added tax and tax and business rescue. He also prepared several practical case studies for the Professional Certificate in Tax Opinion and Dispute Writing course presented by the Tax Faculty.

Education and qualifications

• BCom (Accounting), Cum Laude.
• BCom (Accounting Hons), Cum Laude (Award: Best student in Audit 700).
• Certificate in the Theory of Accounting.
• MCom (Taxation), Cum Laude, (Award: Best MCom [Tax] student).
• Chartered Accountant (specialising in taxation).
• Member of SAICA.
• Registered tax practitioner.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points..

Event Investment

100% discount for all 2022 CPD subscribers. Not a CPD subscriber yet? Click here to register now.

Regular price: R495.00

SAIT price: R395.00

Group price 1 (max 5 people): R950.00

Group price 2 (max 10 people): R1 800.00

Group price 3 (max 15 people): R2 500.00

Payments and cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
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  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
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