FIC Compliance After Registration: Where Accountability Becomes Permanent

Being an Accountable Institution under the FIC Act is not optional — and getting it wrong has serious consequences. This session explains exactly what your responsibilities are and how to meet them correctly.

3 CPD units February 11, 2026 2 presenters

What will set you apart

By completing this course you will gain the following competencies

Who qualifies as an Accountable Institution under the FIC Act
The key obligations placed on Accountable Institutions
What a Risk Management and Compliance Programme is and why it matters
Client identification and verification requirements
Ongoing monitoring and reporting duties
Common FIC compliance failures and penalties
How to implement FIC requirements in practice

Event breakdown

Overview of the FIC Act and its purpose
Who is an Accountable Institution
Core obligations under the FIC Act
Risk Management and Compliance Programme
Client due diligence requirements
Record-keeping and reporting duties
Ongoing monitoring obligations
Common compliance failures
Consequences of non-compliance

Category: Financial ReportingType: CPD CourseCPD category: Financial Reporting

Description

The FIC Act places significant responsibilities on Accountable Institutions, and non-compliance can lead to heavy penalties and reputational damage. This session provides a clear and practical explanation of FIC Act requirements for professionals who fall within the definition of an Accountable Institution. Delegates will learn what must be done, how it must be done, and where many institutions go wrong. The focus is on real-world compliance, including risk assessment, client due diligence, record keeping, and reporting obligations. The session avoids legal jargon and focuses on practical implementation, helping delegates understand how to meet FIC requirements confidently and consistently. By the end of the session, delegates will know exactly what actions are required to remain compliant.

Presenters

Michelle Homann — Michelle Homann is the Managing Director of Business Evolution, a registered accounting practice and a proud member of CIBA. With extensive experience in practice management, strategy, and leadership, she brings a dynamic approach to business growth and financial excellence. Beyond the corporate space, Michelle is deeply committed to social impact as the head of the Taking Hands Foundation, a non-profit organization dedicated to supporting children. Her expertise in non-profit accounting ensures financial sustainability for organizations that make a difference. Passionate about both business and community development, Michelle combines strategic insight with a heart for empowerment, driving meaningful change in every sphere she leads.

Corne van Schalkwyk — Corne van Schalkwyk is a qualified CA (SA) and part of the top leadership of Renforcer Investments. Being a financial consulting firm, it allows him to be on the board of clients as a financial director and work closely with other financial managers and directors to grow companies and strengthen their identities. He has gained experience over the past 12 years in various industries and in his dealings with various stakeholders. The journey was started within the audit environment at KPMG and developed into being a senior presenter at KPMG and Deloitte in complex transactions and financial statements to groups of companies, including JSE Listed companies. His last 5 years was spent in the role as a Financial Manager and Financial Director at various entities over multiple industries.

You will earn a certificate

On successful completion you will receive a certificate for 3 CPD units in Financial Reporting.

Requirements

Laptop, desktop, or mobile device with internet access
Microsoft Edge, Google Chrome, Safari, or Firefox browser