Tag: compliance

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.

Parliament tabled the 2025 budgets on 19 February 2025, but they were not approved. The budgets proposed a 2% increase in the Value Added Tax (VAT) rate. The proposal suggested raising the VAT rate from 15% to 17%.

As the nation waits for the rescheduled delivery of the Budget Speech on 12 March, many wonder what tax announcements to expect. The delayed budget and VAT hike mean small business owners, in particular, remain on tenterhooks as they anticipate the rate hike. This increase would see the VAT rate rise from 15% to 17%, which could significantly impact businesses.

In a significant move aimed at improving workers' livelihoods across South Africa, the government announced a new minimum wage. This new wage will take effect on 1 March 2025. This change will impact a wide range of industries. Employers must familiarise themselves with the new regulations and ensure compliance.

Despite the rapid growth of cloud computing, industrial edge remains a core component of industrial IT environments. The hype around key factors like skills, budget, and security continues to drive cloud adoption. However, unique industrial requirements ensure edge computing remains integral by supporting real-time, mission-critical demands that the cloud often cannot match.

We live in an era of unprecedented transformation. Artificial Intelligence is taking productivity and profits to new heights. Imagine cutting product development timelines in half. You could boost productivity by more than 20%. You could unlock entirely new revenue streams. AI can create hyper-personalised customer experiences.

Competence forms the foundation of a secure and efficient workplace. It equips employees with skills to execute tasks proficiently. Additionally, competence fosters adaptability to industry changes and technological advancements. In workplace safety, it elevates technical expertise into accurate risk assessment.

Over the last couple of years, climate-related disasters have increased in both frequency and intensity. These disasters have accelerated rapidly, creating a physical and socioeconomic divide in risk exposure and protection.

Good governance helps an organisation thrive in a competitive environment. It ensures transparency, efficiency, and ethical integrity in organisational operations. Corporate governance also enables executive management to execute strategic decisions effectively. However, failing to adopt a robust digitised governance framework weakens the board’s oversight capabilities.

The Department of Employment and Labour (DEL) has recently stepped up its inspection raids. These actions have attracted significant media attention. Most notably, these inspections have been prominent in the hospitality industry. As a result of these inspections, approximately 80 people working in restaurants across the country have been arrested.