FROM THE PEN Against All Odds What an amazing country we live in. We might not always have thought this but, even in our darkest periods, South African men and women, against all odds, have blazoned on and made indelible marks on society, nationally and worldwide. Our political and economic triumphs are well known, and…
I was quite heartened recently to receive a letter from one of our members who was optimistic about both South Africa and the chartered accountancy profession. Mr Guy Addison, a CA(SA) based partly in Cape Town and partly in Dubai on account of business obligations, was responding to an article written by another CA(SA) based…
Thuthuka has made significant progress in the past seven years, according to the people who should know – the trustees of the Thuthuka Bursary Fund (TBF). In June this year, SAICA polled the trustees with a view to assessing whether or not Thuthuka was achieving its objectives and to ascertaining what steps should be taken…
12 IMPROVEMENTS TO STANDARDS ISSUED AS STATEMENTS OF GAAP The Accounting Practices Board (APB) has approved 12 Improvements as Statements of Generally Accepted Accounting Practice (GAAP). The annual improvements project is aimed at making necessary, but non-urgent, amendments to Statements of GAAP that will not be included as part of another major project. The Standards…
2007 was a landmark year for our country. Not only did we win the Rugby World Cup (for a second time), but South Africa was the first and only country to adopt the Exposure Draft of the International Financial Reporting Standard for Small and Medium Entities as South African Generally Accepted Accounting Practice for SMEs…
BMW is normally known for being fast, comfortable and exclusive, so, I was astounded that it would launch a 5 series with a two litre four cylinder engine. A car of this size and weight surely requires at least a 3 litre six cylinder engine to perform effectively, especially on the reef. To my surprise,…
Introduction The social, political and economic inequalities of women throughout the world are well known and well documented by interest groups and lobbyists alike. So when you read about women who, throughout history, have made significant impacts in the sciences, business, political and environmental fields, you cannot help but want to celebrate and laud these…
The response of the International Accounting Standards Board If this question was asked to politicians and business leaders, the answer would be a resounding ‘YES’. The ‘grey men who sit in dimly lit rooms and dream up accounting standards’ are responsible for the current global financial crisis. The gluttony of criticism has been primarily focused…
The global financial crisis, which came to the fore in August 2007, has led to a worldwide recession, the consequences of which have been of an unprecedented magnitude and scale. This has included rapid decline in international trade volumes, increased risk aversion, reduced liquidity and heightened market uncertainty. In the main financial centres of the…
Addressing the shortage of CA(SA) skills in South Africa. One of the key strategic marketing objectives of SAICA for 2009 has been to increase the number of first year students presenting themselves at university to study BCom Accountancy with a view to becoming prospective CAs(SA). Communication Challenge The business challenge inherent in achieving this objective…