Tag: compliance

Ongoing confusion within South Africa's electrical sector has led to claims that all Schuko sockets are banned. The situation is far more nuanced. This ongoing misunderstanding continues to affect product sales, Certificate of Compliance (COC) approvals and appliance imports. As the Schuko ban misconception spreads, uncertainty grows across the value chain.

The matter of CSARS vs Africa Cash and Carry (Crown Mines) (Pty) Ltd and Another showed the importance of responsible tax-debt management within corporate groups. It also showed how the South African Revenue Service (SARS) assessed financial capacity.

With the growing challenges of fraud in today’s complex operational environments, organisations require a rigorous and adaptable framework to protect themselves against risks. ISO 37003 emerges as the new international standard specifically designed to offer comprehensive guidance for developing, implementing and maintaining a Fraud Control Management System (FCMS).

As new and emerging technologies, such as Artificial Intelligence (AI), continue to reshape the business world, change is inevitable. We are calling on Small and Medium Enterprises (SMEs) to look beyond the hype. They should focus on harnessing AI as a genuine catalyst for operational improvement and enhanced customer engagement.

In our current economic climate, many Micro, Small and Medium Enterprises (MSMEs) are facing a harsh reality. Although the market is awash with money, access to traditional credit remains limited. This is largely due to regulations like Basel III, which require banks to hold more capital and tighten their risk assessments.

South Africa has tightened Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations since the Financial Action Task Force (FATF) greylisting in 2023. The country has now been recently removed from the FATF greylist after two years of scrutiny. However, financial crime remains widespread.

Our recent research conducted in the Middle East, Turkiye and Africa (META) region, titled “Cybersecurity in the workplace: Employee knowledge and behaviour”, reveals key insights about AI use in South Africa. The study found that 72.5% of professionals surveyed in the country use Artificial Intelligence (AI) tools for their work tasks. However, only 30% have received training on the cybersecurity aspects of neural networks.

We welcome the decision by the Financial Action Task Force (FATF) to remove South Africa from the list of jurisdictions under increased monitoring, also known as the “grey list”. The FATF announced this decision on Friday, 24 October, at the conclusion of its plenary held from 20 to 24 October 2025. This announcement came 32 months after our country was placed on the grey list in February 2023.

South Africa’s new Code of Good Practice: Dismissal took effect, replacing the previous codes on dismissal and operational requirements. The new dismissal code, guided by the Labour Relations Act 66 of 1995 (LRA), offers employers practical guidance on handling dismissals related to misconduct, incapacity and retrenchments.

When a trust suffers a loss through negligence, misconduct or mismanagement, can the beneficiaries take legal action directly against a third party? The answer is nuanced. Recent legal developments, such as the McCann vs McCann case in the KwaZulu-Natal High Court, are bringing new clarity to the rights and remedies available to trusts and their beneficiaries.