Investment Property Common Findings Report
In the report, the JSE provides feedback on common IFRS disclosure deficiencies identified during its proactive monitoring reviews relating to investment property.
The following topics, among others, are covered in the report:
- Identifying and disclosing all significant inputs in fair valuing investment property
- Disaggregating the inputs used in fair valuing investment property
- Sensitivity disclosures
- Consistent messaging across different parts of the annual report
The report also covers common findings on interim reports.
The JSE Listings Requirements for Real Estate Investment Trusts “REITs” allow property companies to take advantage of deductions allowed by section 25BB(5) of the Income Tax Act.
Objective
The objective of this checklist is to provide a tool to assist companies in assessing whether their REIT status can be applied in the years presented. It is applicable for companies wishing to list with a REIT status on the JSE, or to continue, or maintain their listing with the REIT status.
Scope
This checklist is supplementary to the Mazars IFRS Checklist or any purchased IFRS disclosure checklist software as well as the Mazars SA Supplementary checklist for listed entities.
Companies listed on the JSE with REIT status must comply with IFRS; the disclosure requirements in the Companies Act, JSE Listings Requirements, including those specific to companies with a REIT status, the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council and selected SAICA Circulars. This checklist only includes the listings requirements relevant to a company with REIT status, the relevant other checklists should be applied to ensure compliance with the other requirements.
Please note that this checklist refers to “company” which includes “issuers” as defined by the JSE Listings Requirements and has the same meaning as a “group of companies”.
Documents on their site already we can reference to
- Standards and interpretations issued not yet effective
- Accounting for lessees Covid 19 rent concessions
- Covid 19 related rent concessions beyond 30 June 2021
- Proposed amendments to JSE LR
- JSE Pro active monitoring report November 2021