Tag: financial reporting

With many South African companies preparing for the financial year-end, the spotlight is once again on financial reporting. This business function, while often taken for granted, holds enormous sway over strategic decisions, stakeholder trust and regulatory compliance.

In its drive to meet the ambitious 2025/26 revenue estimate of R1.986 trillion, the South African Revenue Service (SARS) has made its expectations clear. Timely, transparent and accurate tax submissions are now the new normal. Central to this approach is the expanded use of third-party data. This applies broadly, including trusts and Non-Profit Organisations (NPOs).

In the present climate, Environmental, Social and Governance (ESG) factors serve as crucial indicators of a company's long-term sustainability and ethical impact. These measures are essential not only for meeting regulatory requirements but also for gaining investor confidence, promoting consumer loyalty and ensuring operational resilience.

The Johannesburg Stock Exchange (JSE) is the largest bourse in Africa. Its market cap of approximately ZAR20 trillion also means that it sits in the top 20 of the world’s largest stock exchanges. Despite that size and heft, it is under significant pressure. In addition to increased competition from newer exchanges such as the Cape Town Stock Exchange and A2X Markets, it has a serious delisting problem.

The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession?

It is projected that the global accounting software market will grow to some R660 billion by 2033. The automation of accounting procedures and financial activities across industries has completely changed the international business landscape. In most large companies, manual data capturing processes have been relegated to the past, and it is only in the most extreme cases that these are still implemented.

The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession?

We are pleased to announce that the Financial Sector Conduct Authority (FSCA) has approved our amendments to the listings requirements dealing with market segmentation which come into effective on 23 September 2024.

As Artificial Intelligence (AI) technology continues to evolve globally, its integration into the South African business landscape is becoming increasingly prominent. Companies across various sectors are leveraging AI to drive efficiencies, optimise operations, and create new revenue streams.

Determining the right amount of funding a business needs is a common challenge for many small and medium enterprises (SMEs). This is due to several reasons or practical challenges. To begin with, no business is the same. Funding requirements and the use of credit will vary based on business life stage (start, run or grow), operating cycles, growth plans, industry, and market conditions