Tag: financial records
Key tax compliance lessons from the Africa cash and carry case
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.
Appointing Accountants and Auditors
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.
SME payroll pitfalls – mistakes companies should avoid
Paying employees sounds straightforward, but it is not unusual for Small and Medium Enterprises (SMEs) to make mistakes in managing their payroll. These errors can have serious consequences, ranging from damaging employee morale to fraud losses, and tax penalties for late or incorrect tax payments and submissions.
Managing your finances like you manage your farm
Farming is a long game that requires patience, perseverance, and strategic planning across all aspects of the operation. While every farmer understands this when it comes to tending crops and raising livestock, the same can’t always be said for managing their finances; and taking a short-sighted approach to financial planning can be as devastating to a farmer’s livelihood as a flood or drought would be to his or her operations.
Background checks are worth their weight in gold in the mining...
South Africa possesses ore reserves amounting to a value of more than US$2.5 trillion, with 16 commodities ranked in the top ten internationally. In such an important and high-value sector of the economy, it’s easy to see why the mining industry is a frequent target for malfeasance of all kinds – from deceptive suppliers to tender fraud.
How cloud accounting can help SMEs
If a business suddenly had no access to its business documents and financial records, the consequences would be severely felt. And if the company suffered a cyberattack, it could be devastating. These are just two reasons why cloud computing has become so important, and why moving to online accounting can genuinely help small- to medium-sized enterprises (SMEs).
