Tag: accounting

Despite ongoing challenges such as inconsistent power supply and economic instability, an impressive 83% of small businesses have grown their revenue in the past year, and 90% are optimistic about their future growth. These findings from our 2025 State of Small Business Report may be surprising to most, but they prompt the question: What is driving this optimism? The answer lies in SMEs' bold embrace of technology.

It is incredible to witness the passion and optimism currently fuelling growth in the accounting profession. The 2025 State of Small Business and State of Accounting reports show promising trends. A majority of firms (85%) have increased revenue in the past 12 months. Even more (88%) expect further growth in the year ahead.

Accounting and auditing play crucial roles in business operations. They manage financial activities and maintain accurate company records. These functions oversee finance-related tasks and ensure effective financial management. Additionally, they implement risk mitigation strategies to support business continuity.

Brands taking communications entirely in-house may see short-term financial benefits, but long-term drawbacks are significant. The communications agency I have led for almost eight years is unusual in retaining clients for extended periods. Occasionally, we lose an account.

Environmental, Social, and Governance (ESG) initiatives have grown exponentially in recent years, driven by a heightened awareness of sustainability and ethical considerations among stakeholders and investors. However, integrating ESG into financial analysis presents unique challenges, particularly when attempting to measure their impact and outcomes using traditional financial metrics.

The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession?

Renewable electricity contracts, or power purchase agreements, are in high demand as companies and governments seek sustainable solutions, leading to growth in solar and wind energy purchases to meet net-zero carbon emission targets and reduce environmental impact. 

As artificial intelligence (AI) continues to supercharge every aspect of business and society, South Africa stands at a critical juncture. Rather than fearing job displacement, we can harness AI to drive widespread growth and prosperity. By fostering local innovation, investing in AI education, and creating a conducive regulatory environment, we can empower citizens and businesses alike.

The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession?

New research shows that sustainability and technology are driving changes in the accounting and finance profession. A significant part of the work we do is about looking at trends within the profession and using them to discern what the future of accounting looks like, to best prepare our members to thrive within it.