Circular 20 of 2025: Publication of the SAICA Medical Schemes Accounting Guide

The Council for Medical Schemes (CMS) wishes to inform stakeholders that the South African Institute of Chartered Accountants’ Medical Schemes Accounting Guide (SAICA Guide) has been revised for the 2024 financial year.

The SAICA Guide, which was developed in consultation with stakeholders, assumes compliance with International Financial Reporting Standards (IFRS) and any additional financial reporting necessary to operate the business of a medical scheme.

It is important to note that the SAICA Guide is not considered complete in all aspects. Stakeholders are advised to read it in conjunction with applicable legislation, Circulars from the CMS, and applicable IFRS documents, to ensure that all areas are adequately covered.

The SAICA Guide does not address audit issues. The Independent Regulatory Board for Auditors (IRBA) issues separate guidance for auditors of medical schemes.