DTI repeals Chartered Accountancy and Construction Sector Codes

Pretoria - The Department of Trade and Industry (dti) has repealed the Chartered Accountancy and Construction Sector Codes with effect from 17 February.

In a statement on Sunday, the dti said with the codes repealed, entities in the two sectors must use the Amended Codes of Good Practice for measurement.

“The reason for the repeal of the two sector codes is the respective sector charter councils responsible for their drafting failed to meet the deadline of 15 November 2015 to submit to the Minister of Trade and Industry amended sector codes,” said the dti.

All sector charter councils were given an opportunity to align their sector codes since October 2013 after Phase I of the Amended Codes was gazetted.

The initial deadline for finalisation of the amended process was May 2015, and was further extended to 15 November 2015. Sector Charter Councils were effectively given two years to amend their sector codes.

Sector codes that have not been repealed are applicable, except for the two mentioned plus the Tourism Sector Code, which has already been amended and gazetted.

- SAnews.gov.za