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Circular 26 of 2021: SAICA Accounting Guide

The Council for Medical Schemes (CMS) is in the process of reviewing the Medical Schemes Accounting Guide (Accounting Guide) which will be issued by the South African Institute of Chartered Accountants (SAICA).

The purpose of the Accounting Guide is to provide guidance on the accounting and applicable legislative requirements for medical schemes. The guide assumes compliance with International Financial Reporting Standards (IFRS) and any additional financial reporting requirements of the CMS. It only addresses the accounting and reporting issues that are specific to organisations that conduct the business of a medical scheme.

Schemes are therefore requested to submit suggestions and comments to CMS on the proposed 2021 SAICA Accounting Guide. The 2020 SAICA Accounting Guide can be accessed by clicking here.

Suggestions and comments may be submitted to j.scheepers@medicalschemes.co.za on or before 15 May 2021.

Download the Circular here