TOP 5 ACCOUNTING QUERIES FOR 2025

Here are the Top 5 Accounting Queries for 2025, based on current trends, regulatory changes, and professional feedback from small businesses, tax practitioners, and accountants in South Africa and globally:

1. How Do We Apply the New IFRS for SMEs Amendments?

With the updated IFRS for SMEs Standard becoming effective in 2025, many accountants and SMMEs are asking:

• How do we transition from the previous standard?

• Do we need to restate prior period financials?

• What’s the new treatment for revenue, leases, and financial instruments?

Reason: These amendments affect key financial statement elements and require updates to accounting policies, disclosures, and system setups.

2. Are We Required to Submit Financials Using XBRL to CIPC?

Many small companies are unsure whether they fall under the mandatory XBRL submission requirements in 2025:

• Does our company need to submit in XBRL format?

• Can we still submit PDF financials?

• Who qualifies as a “regulated entity” for CIPC purposes?

Reason: The expanding scope of CIPC's XBRL rollout is catching many small companies off-guard, especially those previously not required to comply.

3. Do We Need to Disclose Beneficial Ownership in Our Financials?

Since 2023, beneficial ownership regulations require disclosures to CIPC and, in some cases, in financial reporting notes:

• Who qualifies as a beneficial owner?

• Do we need to disclose this in AFS or only to the Companies Register?

• What are the penalties for non-compliance?

Reason: Increasing emphasis on transparency, FATF compliance, and anti-money laundering regulations.

4. What Are the Tax Accounting Implications of the Two-Pot Retirement System?

With the implementation of South Africa's two-pot retirement system in 2024, employers and retirement fund administrators are asking:

• How do we account for contributions between the savings and retirement pots?

• What are the tax and reporting obligations for each pot?

• How do we treat withdrawals in payroll and financials?

Reason: There’s still uncertainty about practical application and alignment between SARS, retirement funds, and employer payroll systems.

5. How Should We Account for Crypto, NFTs, and Digital Assets?

As more businesses and individuals interact with crypto assets, 2025 brings rising queries on:

• Should digital assets be classified as inventory, investments, or intangible assets?

• How do we apply fair value accounting or impairment rules?

• How are crypto gains and losses taxed or disclosed?

Reason: Crypto remains lightly regulated in SA, but SARS and IFRS guidance (e.g., IFRS Interpretations Committee views) are increasingly clear about recognition and measurement.

Summary Table

Query	Main Concern	Why It Matters
IFRS for SMEs changes	New rules for leases, revenue, financials	Requires policy updates & restatement
XBRL filing	Whether PDF still allowed	Many small companies newly affected
Beneficial ownership	Disclosure rules & penalties	Tied to FATF and tax transparency
Two-pot retirement	Employer & payroll compliance	Unclear treatment in AFS and payroll
Crypto & digital assets	Classification, valuation, tax	More clients are exposed to crypto

Got any questions? Please contact us on T:+27 31 564 6550 or E:queries@acsplus.co.za