Tag: South African Institute of Chartered Accountants (SAICA)

New independent, international research indicates high trust in Chartered Accountants and points to the need for them to lead on protecting data and driving ethical behaviour and transparent business practices.

Following a bruising year of corporate scandals, the AEPF Ethical Practices Survey 2018 reveals 1 in 4 believe financial success is more important than doing the right thing - while 25% in public sector say they fear for their lives when reporting wrongdoing.

Transfer Pricing compliance requirements in South Africa have been significantly tightened and a modern transfer pricing system, including electronic transfer pricing return submission, has been put in place.

Peter Bakker, the CEO of the World Business Council on Sustainable Development, is quoted as saying ‘Accountants will save the world.’ Superhero is not a status usually associated with the profession. What could he mean?

Statistics South Africa (StatSA) released the Community Survey in 2016 noting that a total of 94,760 South Africans have emigrated between 2006 and 2016. A more recent study performed by the Pew Research Centre in February 2018 notes that 900,000 people born in South Africa were living abroad for one year or longer. The top three destinations being United Kingdom, Australia and United States.

Ethics is one of the three pervasive skills competency areas to be developed in all entry-level CAs(SA) that SAICA requires in its rigorous qualification process.

The SAICA Code of Professional Conduct (the Code) has, since 2006, set out certain fundamental principles that members and associates (accountants) should adhere to. The principles are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

The Companies and Intellectual Property Commission (CIPC) introduced digital financial reporting via XBRL (eXtensible Business Reporting Language) on July 1, 2018.

The South African Institute of Chartered Accountants (SAICA) has launched Figure That!, a book about the story of the Chartered Accountancy profession in South Africa. The launch of Figure That! comes at a time when the profession is under severe scrutiny.

Transfer pricing relates to the transfer of goods or services between members of a multinational group which are tax residents in different countries. Instead of increasing existing taxes or levying new taxes, a way to tackle the looming budget deficit may be to properly implement transfer pricing rules and to ensure appropriate enforcement by the South African Revenue Service (SARS) of such rules.