Tag: compliance

During Parliamentary debates on amendments to the Companies Act in 2023, it was noted that the biggest opposition to the amendments related to the disclosure of remuneration. With the President signing the Companies Amendment Act on the 26th of July 2024, debates on the new remuneration requirements will resurface.

Producing personalised mass communication, like we see in the insurance industry, is a complex and time-consuming process and many businesses have invested in document automation technology for this purpose.

In a significant move towards enhancing efficiency, transparency, and accountability in public procurement processes, the gazetted Public Procurement Act of 2024 (Act) aims to revolutionise the way government entities engage in procurement activities.

In today’s digital age, cybercrime is advancing at an alarming rate. As technology evolves, so do the tactics of cybercriminals. Unfortunately, your South African Revenue Service (SARS) e-filing account is not immune to these threats.

The tragic collapse of an apartment building in George earlier this year, which resulted in the loss of 34 lives, serves as a stark reminder of the critical importance of adhering to best practices in construction to manage risk and ensure compliance.

In a first for the local financial services sector, a diverse collaborative industry work group established following the inaugural SA Market Surveillance Conference held last year, has developed a draft industry code of conduct to guide financial institutions and align with international standards to bolster market surveillance in the country.

The rise of financial technology (fintech) in Africa is not just a story of innovation; it's a narrative about empowerment and transformation. As the continent continues to grapple with the challenges of limited access to traditional banking services, fintech has emerged as a beacon of hope, offering a path towards financial inclusion and economic growth.

On 27 June 2024, the South African Revenue Service (SARS) announced its enhanced Beneficial Ownership disclosures for the 2024 Filing Season. Not even 24 hours later, the Companies and Intellectual Property Commission (CIPC) issued a media release enforcing beneficial ownership (OB) declaration, to be able to file annual returns. This may simply be a compliance coincidence, but more likely a strategic move to eradicate non-compliance for companies, trusts, and partnerships, on all levels.

Expanding operations across borders is becoming the norm in the modern business landscape, but with this expansion comes the challenge of managing payroll on a global scale. It’s a complex and crucial task that involves navigating diverse regulations, juggling multiple currencies and ensuring accurate payments to employees worldwide.

At the end of March, a critical security breach was discovered within the upstream source code of XZ Utils, a collection of open-source tools and libraries for the XZ compression format. The breach affected versions 5.6.0 and 5.6.1 and spanned nearly three years. The potential disastrous implications of this breach, and any other, underscore the importance of continued vigilance in patching all software used in a business environment.