IFRS 9 Financial Instruments carries forward the concept of dealing with accounting mismatches from IAS 39 Financial Instruments. As accounting mismatches will continue to exist in the foreseeable future as a result of the inherent structure of the global banking system, it is necessary to allow for their proper treatment in the reporting entity’s financial…
Many small businesses make the same mistakes early on that come back to haunt them a few years later. This is because of all the roles that business owners take on, managing their finances and being diligent about record-keeping are among the most challenging. A crucial contributor to business success is accurate forecasting. Businesses have…
These are a few thoughts about how (not) to think about the future aimed at setting the scene for a short series of articles that are scheduled to appear in the next few issues of Accountancy SA. These (and many other) proven experts in their respective fields fell into the trap of paradigm paralysis −…
SAICA has published the results of the Assessment of Professional Competence (APC) – in many ways the most gruelling assessment of an aspiring chartered account’s life. I wish to congratulate the class of 2019 for their achievement and all our members and partners who played a vital role in this regard. Of the 3 560…
This article provides an overview of the responsibilities of the auditor in terms of going concern, including reporting a matter relating to going concern as a KAM In the current economic climate, the ability of an entity to continue in business for the foreseeable future is receiving more attention than ever before. In terms of…
The growth of assurance being provided on sustainability and integrated reports has required the auditing profession, through the Independent Regulatory Board for Auditors (IRBA) Sustainability Standing Committee, to consider the value to be achieved through the provision of assurance on those non-financial indicators that have been identified by the client. The Sustainability Assurance Engagement Practice…
In recent times, South Africans have been numbed by the sheer staggering numbers of wasteful, fruitless, unauthorised and irregular expenditure. In common definition, this is the type of expenditure that should not be tolerated by citizens whatever technical justifications are attached to their occurrence. The very existence of such expenditure suggests that those that persistently…
Coronaviruses are a family of viruses that can cause illnesses such as the common cold, severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS). In 2019, a new coronavirus was identified as the cause of a disease outbreak that originated in the city of Wuhan in China. The virus is now known as…
Wealth Advisorou’re never too old to be an entrepreneur. While being an entrepreneur potentially carries higher rewards, it also carries extreme risks. And can one afford to lose a lifetime of savings at such a late stage? Mike Lledo CA(SA)IndependentFinancial Services Consultant Amazon’s Jeff Bezos just sold 3% of his stock for $3,5 billion. He…
Millennials want to have an impact, not only in your organisation but in the world. They want to know how the work they do contributes to the company and society as a whole. Millennials got a bad rap when it comes to being part of the workforce: they don’t stay; they don’t like to be…