Why should organisations publish a meaningful integrated report?
Most modern, well-governed organisations are acutely aware of the need for their businesses to be run in an ethical and socially-conscious manner and for this ethos to be communicated to their stakeholders.
How will professional accountants remain relevant?
Future shifts in demands and activities are unavoidable for all professions. The future of the accounting profession as one that remains relevant and vital to the prosperity of the societies in which it operates, depends on its ability to focus on what is required to sustain its relevance in an evolving, changing, and technologically-dominated future.
Rule on mandatory audit firm rotation announced
In compliance with section 10(1)(a) of the Auditing Profession Act, 26 of 2005, the Independent Regulatory Board for Auditors (IRBA) has announced and published the rule on Mandatory Audit Firm Rotation (MAFR) for auditors of all public interest entities, as defined in section 290.25 to 290.26 of the amended IRBA Code of Professional Conduct for Registered Auditors.
CA(SA) | Ethics education and expectations
Ethics is one of the three pervasive skills competency areas to be developed in all entry-level CAs(SA) that SAICA requires in its rigorous qualification process.
FICA amendments deadline fast approaching
The deadline for accountable institutions to meet the amendments of the Financial Intelligence Centre Act, No. 38 of 2001, as amended by the Financial Intelligence Centre Amendment Act, Act 1 of 2017 (FICA) legislation, which was introduced to counteract money laundering and the financing of terrorism, is fast approaching on April 2, 2019.
Combatting supplier employee collusion
Procurement fraud can be committed by employees acting alone or in collusion with vendors. While fraudulent activities between suppliers/vendors and employees are not uncommon, these transactions are unacceptable as they create a host of challenges to the business if allowed to continue under the radar.
SAICA and CIMA expands cooperation to advance accountancy
On Thursday 25 May, the Association of International Certified Professional Accountants (the Association) and the South African Institute of Chartered Accountants (SAICA) announced an agreement that further advances the accounting profession in South Africa by broadening access to their professional qualifications and resources.
MAFR NEGATIVE IMPACT!
The Association of International Certified Professional Accountants (the Association) has voiced its strong opposition to a plan by South Africa’s Independent Regulatory Board for...
The iceberg is in sight: are we on the right course?
The captain of Ship SA, President Cyril Ramaphosa, can surely see the iceberg that we are heading for and one can almost hear the call go out for us to 'brace for impact'. The iceberg is an economy that is in crisis – an unemployment rate of 42% (using the expanded definition), GDP growth projections down by 7.8%, tax revenue projections at R304 billion less than originally budgeted for, a budget deficit of R709 billion for 2020/21, a current debt to GPD level of 81.8% and debt service costs (interest) currently amounting to 21c in every tax Rand collected.
Buying out your business partner
Business partnerships end for a number of reasons. Some are friendly and in the best interest of both parties - while others reach a bitter, nasty end. Even the COVID-19 pandemic and related lockdown has forced directors to evaluate their interests and involvement.
