Tag: KPMG South Africa

On 27 December 2024, certain sections proposed in the Companies Amendment Act 16 of 2024 and the entire Companies Second Amendment Act 17 of 2024 became effective. In our publication, Overview of the 2024 amendments to the Companies Act 71 of 2008 for Audit Committees and Financial Management, we provide a summary of the key changes now in effect.

Family businesses are economic entities ideally positioned to lead in the stewardship of ethical and sustainable practices. Legacy and wealth protection have long informed family business strategy and decisions, stemming from the unique blend of family and business - the relational approach.

For personal information to be processed lawfully and in a reasonable manner that does not infringe the privacy of the data subject, too often responsible parties are relying on consent of the data subject, which is only one of the six lawful justifications contemplated in POPIA.

Family businesses are the backbone of the global and South African economy, contributing significantly to the country's GDP and employment. However, these businesses also face unique challenges, particularly in managing the complex interplay between family dynamics and business operations.

Can machines think? Turing posed this question in his 1950 paper "Computing Machinery and Intelligence" while working at the University of Manchester. In his paper, Alan Turing introduced the world to The Turing test, which he originally called "The Imitation Game" - a test of a machine's ability to exhibit intelligent behaviour equivalent to or indistinguishable from a human's.

Read our exclusive cover story titled Quantum + AI – could this synergy spark machine thinking into consciousness? by Darren Lentz, Senior Manager and Faheem Ballim, Manager, KPMG South Africa, plus a host of other topical management articles written by professionals, consultants and academics.

It is widely known that business families are currently experiencing the largest wealth transfer in recent history, with over $84 trillion being transferred from...

Read our exclusive cover story titled Family Business - can you unlock the dynamics of tradition, innovation and legacy by Alan Barr, Partner and Creagh...

Imagine cruising down the highway in your Tesla (Model 3), sold by the dreams of the autopilot feature. Suddenly a disaster strikes as the car's AI fails to distinguish a semi-truck ahead, resulting in a fatal accident. This scenario that occurred in Florida on March 2019 highlights the potential dangers of reliance on AI in autonomous vehicles. Yet, in October 2023, researchers from the University Medical Center Utrecht, developed a deep learning algorithm; a form of AI, to identify brain tumours, speeding up diagnosis which now goes on potentially save millions of lives.

In recent years, there have been a significant surge in cyber threats targeting industrial control systems (ICS) and associated control networks. Industry reports reveal...