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Mon, Jun 17, 2019

FICA amended – Needs implementation

With South Africa already on precarious ground as a result of its alleged ‘state capture’, not least also the effects of South Africa being...

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.

IAASB – update on enhancing audit quality projects

The South African Institute of Chartered Accountants (SAICA) recently hosted representatives from the International Auditing and Assurance Standards Board (IAASB) and received first-hand feedback on their work relating to quality control and related projects, with touchpoints regarding audit quality and how this is set to affect practice going forward.

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.

New preferential procurement regulations – radical shift in enforcing BBBEE?

In his State of the Nation Address in 2017, President Jacob Zuma noted the intention of the South African government to influence the behaviour of the private sector and to drive economic transformation.

Financial advisors licensing changes

"It’s inevitable that currently authorised financial services providers are going to have to change their business models to adapt to a revised licensing framework,” says Thulani Dyasi, who works in the Banking and Financial Services Regulatory Practice Group at pan-African law firm Bowmans.

Finance industry getting to grips with innovation

A large majority of global banks, insurers and investment managers intend to increase their partnerships with FinTech companies over the next 3 - 5 years and expect an average return on investment of 20% on their innovation projects, according to a new PwC report Redrawing the lines: FinTech’s growing influence on Financial Services.

Municipal debtors management critical

Managing the debtor book is critical to ensuring stable cash flows for any municipality, and has great impact on its ability in delivering services to its constituents.

Fair & responsible remuneration critical

Executive remuneration has become a symbol of inequality in today’s global economic order. Shareholders are becoming more active in demanding that executive pay is more closely linked to results and stakeholders want a broader focus on the context in which the organisation operates.

Business failures set to blow as economy tanks!

Few people realise that the largest source of business funding in South Africa is provided by private companies themselves. Businesses extend credit to their customers and obtain credit from their suppliers, usually in the form of short-term funding which lasts for 30 to 60 days per transaction.
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