STATEMENT OF GAAP FOR SME’s: IMPLEMENTATION ISSUES Background It has been more than a year since the Statement of Generally Accepted Accounting Practice (GAAP) for Small and Medium-sized Entities (SMEs) has been approved by the Accounting Practices Board (APB). This document, which is an exposure draft of a proposed International Financial Reporting Standard for Small…
ACCOUNTING APB APPROVES AMENDMENTS, IMPROVEMENTS, INTERPRETATIONS At its meeting on 1 August 2008, the Accounting Practices Board (APB) approved the following for issue as amendments, improvements or interpretations of Statements of GAAP: Amendments to IFRS 1(AC 138) − First-time Adoption of International Financial Reporting Standards and IAS 27(AC 132) – Consolidated and Separate Financial Statements:…
NEW TRAINING MODEL: CHANGING THE CHARTERED ACCOUNTANCY PROFESSION’S LANES A revolutionary new training model, designed to develop Chartered Accountants [CAs(SA)] armed with broad-based business skills, is being developed by The South African Institute of Chartered Accountants (SAICA) in consultation with our members. We have embarked on a journey to propose a new training model for…
Continuing Professional Development (CPD) has long been a requirement for most, if not all, professionals, including, for example, the medical profession. Just as it would be daunting to consult a heart surgeon with a stack of unopened medical journals on his coffee table, so too would it be daunting to place one’s faith in a…
THE CFO OF THE FUTURE : VIEWS OF JSE TOP 40 COMPANY CFO’s Over the past 50 years, the role of the Chief Financial Officer (CFO) has evolved to that of a strategic business partner who focuses on the creation of shareholder wealth. Recently SAICA embarked on a research project, targeting 40 CFOs of the…
SAICA & SARS Our advocacy and leadership role as an Institute is an integral part of our service offerings to members. We engage with each of our key stakeholders regularly on both strategic and operational levels. A case in point is our relationship with the South African Revenue Service (SARS). We have established a mutually…