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Finance Standing Committee
Auditing Profession Amendment Bill: National Treasury briefing; SARS on ratification of Annexure E to Southern African Custom Union Agreement on Mutual Administrative Assistance
12 Nov 2014
National Treasury made a presentation on the Bill amending the Auditing Profession Act, 2005, focussing on the rationale behind the Amendment Bill, its principal objects and the main features of the amended sections. Fundamentally, the Amendment Bill introduced the registration and definition of candidate auditors. Its purpose was to assist ...
Finance Standing Committee
Financial Services Board on its 2013/14 Annual Report
11 Nov 2014
The Committee met with the Financial Services Board (FSB) to discuss the annual report on the performance of the entity. The FSB provided the Committee with a comprehensive presentation covering the vision and mission of the FSB, thereafter looking at the strategic intentions of the entity’s key institutional objectives. The ...
Finance Standing Committee
Taxation Laws Amendment Bill: deliberations; Tax Administration Laws Amendment Bill; Rates and Monetary Amounts and Amendment of Revenue Laws Bill: deliberations & voting
5 Nov 2014
The Standing Committee on Finance considered and adopted the Budgetary Review and Recommendations Report (BRRR) for National Treasury.
Rates and Monetary Amounts and Amendment of Revenue Laws Bill
Members said that the Bill was difficult to comprehend and there was frequent cross referencing in it. National Treasury agreed and said ...
Finance Standing Committee
National Treasury & Statistics SA Budget Review and Recommendations Report
4 Nov 2014
The Standing Committee on Finance met to consider the Budgetary Review and Recommendations Report (BRRR) of National Treasury and Statistics SA.
Members wanted the recommendations of the Statistics South Africa (Stats SA) report to highlight the concern about the issue of vacant posts, as South Africa had a skills shortage ...
Finance Standing Committee
Revised Fiscal Framework : Consideration and Adoption of Committee Report
30 Oct 2014
The Standing Committee on Finance and the Select Committee on Finance met to consider and adopt the of Committee Report on the Revised Fiscal Framework. Members debated the phraseology of some sections of the report and debated whether the report was an accurate reflection of what other input had been ...
Finance Standing Committee
Accounting Standards Board on its 2013/14 Annual Report; Parliamentary Budget Office on impact of investment in South Africa
29 Oct 2014
The Accounting Standards Board (ASB) briefed the Committee on its annual report, focussing on financial performance, cost containment, strategy of the ASB 2015-19 and discussed a letter dated 23 July 2014. The ASB reported that its performance was limited by its narrow mandate and demanded a review and extension of ...
Finance Standing Committee
Revised Fiscal Framework: public hearings
28 Oct 2014
A joint meeting of the Standing and Select Committees on Finance heard briefings from the Financial and Fiscal Commission (FFC), the Parliamentary Budget Office (PBO), and the SA Reserve Bank (SARB) on the revised fiscal framework.
The Financial and Fiscal Commission (FFC) presentation gave an overview of the Medium Term ...
Finance Standing Committee
2014 Medium Term Budget Policy Statement: briefing by Minister of Finance, with Deputy Minister in attendance
23 Oct 2014
The Minister remarked that the budget policy framework and spending priorities of government for the following three years was produced under trying and unenviable conditions. The Director General explained that the global outlook remained uneven, and that the South African current account and fiscal deficits caused the country to depend ...
Finance Standing Committee
Financial and Fiscal Commission on its 2013/14 Annual Report
21 Oct 2014
The Standing Committee on Finance received a briefing by the Financial and Fiscal Commission (FFC) on its Annual Report. The FFC spoke on its achievements, the challenges it faced, its recommendations to Treasury on the 2014/2015 Division of Revenue and their responses, and provided information on its performance and finances. ...
Finance Standing Committee
Statistics South Africa on its 2013/14 Annual Report
16 Oct 2014
The Committee heard three presentations on the annual report of Statistics South Africa (Stats SA) for the financial year 2013/2014. The entity’s performance was reported on by the Auditor General of South Africa, the Committee researcher, and by Stats SA themselves.
Members were told that there had been a delay ...