The Financial Matters Amendment Bill is currently undergoing the parliamentary process, with officials recently deliberating on a committee report made on the bill.
Responding to this, the committee said that the proposed changes to the three Acts are largely technical in nature and seek to align provisions and are still relevant.Regarding pensions, the bill seeks to amend certain definitions and other provisions within the Associated Institutions Pension Fund Act and the Temporary Employees Pension Fund Act to align them with the sole administration of the Minister responsible for finance and to update references to other ministers.
“The amendment to the Auditing Profession Amendment Act, 2021 is contained in clause 22. The amendment aims to provide that the same processes apply to alleged improper conduct of auditors whether committed before or after the Auditing Profession Amendment Act, 2021 ,” the PMG added.sanctions imposed against people transgressing the law were far too mild
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