In This Issue

According to QuickBooks, there are already more than 700 apps that are assisting accountants to automate processes and reduce their workload. Gone are the days where accountants can be mere number crunchers, who collate and check data and allocate it to the correct cost centre. The future accountant will have transformed her/himself into a financial advisor, adding value to businesses by offering strategic advice, consulting and financial planning.

If the data is to be believed, retrenchments are once again on the rise. Lets not speculate why, but the current environment doesn’t induce business stability.

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.

South Africa’s current woes are in large part a result of a large-scale breakdown in ethics (both personal and professional) and good governance practices. One only needs to look at the goings-on at Steinhoff, KPMG, Eskom, SARS and VBS Bank to see the impact that unethical behaviour, large scale looting and unchecked business practices have had on the South African economy and on South Africans, whose confidence in the leadership of this country and those in business is at an all-time low.

Poor governance practices, poor oversight and a lack of accountability lie at the heart of state capture and the large-scale corporate fraud that has dominated newspaper headlines in South Africa over the last three years. It is precisely due to the weaknesses in the governance structures and systems that dishonest and unethical leaders have been able to plunder state resources and commit fraud.

One of the legal terms and concepts that appear to confuse employers and employees is ‘victimisation’. This is partially because the labour statutes do not deal directly with the concept of ‘workplace victimisation’. This is most surprising in view of the fact that victimisation does interfere with the right to fair labour practice.

Recognition of Prior Learning (RPL) boasts many benefits, the most obvious being the ability to fast track obtaining a qualification. Many people today have extensive experience in their field but not the qualifications behind their name to back that experience. RPL offers a solution for those eligible candidates.

Gavin Stansfield | Director: Employment Practice | gavin.stansfield@cdhlegal.com Zola Mcaciso | Associate: Employment Practice | zola.mcaciso@cdhlegal.com | Cliffe Dekker Hofmeyr |  https://www.cliffedekkerhofmeyr.com/ | The case of...

While the motivation behind major cyberattacks is often unclear, there are some steps that can be taken by a business, to improve security and aim to keep the hackers out. The reality globally is that cyber criminals are becoming relentless - and 2017 proved to be no exception. In 2016 we saw unprecedented attacks, politically motivated sabotage and overt attempts to disrupt electoral processes. Unfortunately, these trends continued in 2017 and show no signs of abating in the future. Innovation, economies of scale, new sophistication and trends that open up...

Is the accounting profession experiencing a crisis of credibility? Current events locally and internationally are demanding higher levels of accountability in the accounting and auditing professions. Unethical accounting and auditing practices in South Africa have reverberated globally, with the reputations of large accounting and auditing firms severely damaged by their links to public service corruption and financial misrepresentation by large multinational companies like Steinhoff.