Tag: compliance

For many years, the South African banking sector has strived to comply with international financial regulations, such as Basel II and its successors, in order to ensure cost effective access to global markets. With its focus on proving the accuracy of risk measures, Basel drove the adoption of data management principles within South Africa’s major banks, but with a risk focus.

We are calling upon CISOs and boards of directors to recognise and take immediate action against the security risks associated with IT asset disposition (ITAD). As a crucial aspect of data governance, the responsible management of IT assets at the end of their lifecycle is essential to ensure compliance and safeguard sensitive information.

The global economy is facing challenges on many fronts, with inflation and recession becoming the words of the day. As a result, budgets that are always tight (like IT) are under even more scrutiny than before. Any unnecessary spending needs to be curtailed, for obvious reasons, but does data management fall into this category?

Fasten your seat belts as the 'work from anywhere' era steps on the gas. In the fast lane of this new age, hush holidays are cruising in, a silent phenomenon stirring duty of care considerations into a tricky maze that has organisations reaching for their strategy maps.

The South African Revenue Service (SARS) has also announced many changes to this upcoming filing season and has already begun auto-assessing taxpayers from 1 July 2023. These changes must be clearly understood by taxpayers, so they can compliantly navigate this year’s filing season.

A few years ago, several well-known short-term insurance companies took legal action against an intermediary company due to the damages they incurred as a result of the intermediary's collapse. The intermediary, presently in liquidation, was responsible for the collecting and accounting of premiums owed to the insurers.

Understanding trends in any given field helps businesses understand what conversations are happening in the industry broadly and likely strategic topics for their competitors. In other words, if everyone else is talking about a new technology and how it impacts business operations, why aren’t we?

As South Africans prepare themselves for higher stages of load shedding in the coming colder months there remains a growing concern around the possibility of a total grid failure. A grid failure is described as a total or partial interruption or suspension of electrical power supply from the national, regional, municipal or private grid supplier resulting in widespread power outages.

The contentious issue of quiet quitting in the workplace or putting in minimal effort to avoid termination is considered by some to be a logical repercussion of COVID-19. But businesses are under extraordinary pressure of the Great Resignation trend, local talent moving abroad for better opportunities and a general shortage of skills.

Milton Segal | Executive Director | Standards | South African Institute of Chartered Accountants (SAICA) | mail me | Sustainability Reporting is about to be revolutionised thanks...