Modern AI technology has been far more successful than at any point in history, with it becoming part of our daily lives without us noticing. Despite this success, AI has a long way to go to achieve the promise that many hold of this technology − which is why it is feared that the AI…
2020 was about ‘circuit breakers’, ‘black swans’, the Volatility Index at new records, and every single asset class (equities, bonds, property, gold, oil) turned into a rollercoaster ride. Nothing was left unscathed. ‘Be greedy when others are fearful,’ said Walter Buffett. This was the time for active investment management! Mike Lledo CA(SA)IndependentFinancial Services Consultant Actives…
Innovators are people who start something new, who are creative and who bring excellent new ideas to life. Innovators are referred to as the ‘red people’ and accountants are ‘blue people’. Is that true or can accountants be innovators? Ronel Jooste CA(SA)Director at FinanciallyFiTLifeand author, speaker and radio talk show host People will often say…
Business Innovator and CatalystAs we usher in 2021, I am sure that many of us will be happy to know that 2020 is square in the rear-view mirror. Although we cannot drive forward while fixating on the pile-up of cars 2020 left behind us, we can certainly glance back at the 2020 calamity and recognise…
Innovator and bloggerIt’s time for a bit of tough love. The health crisis happened and will have ripple effects for months and years. But the time to start building for the future is today and we need to be planting the green shoots of recovery at home. Chief Innovation Officer: Tencent Africa This is a…
The COVID-19 crisis is heavily impacting worldwide economic activity, and the tax profession in particular. BDO has undertaken research among 256 tax and finance leaders from more than 50 countries across EMEA, the Americas and the Asia-Pacific region. The results are released in the first Global Tax Outlook report and the findings explored further in…
In a series of interviews, I explore the approaches of different business leaders (all chartered accountants) to strategy. This month I was in conversation with Anine Pheiffer, GM Strategy at Astron Energy and SAICA Southern Region Council President. When Anine moved from KPMG literally across the road to Chevron South Africa in 2007, she never…
The last twelve months have been challenging for accountants. They have been stepping up to guide small businesses through COVID-19 challenges and support the wider economy. Technology has been key in helping them to do this. Xero’s recent research found that 87% of accounting firms use some cloud technology. The global pandemic has made the…
In December 2019, the International Auditing and Assurance Standards Board (IAASB) issued International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement. On its release, the IAASB stated that ISA 315 (Revised 2019) is an important part of the IAASB’s efforts to improve audit quality globally. The IAASB chair,…
The concept of materiality is one of the most fundamental and significant concepts within the financial and corporate reporting ecosystem. ‘Materiality’ can be defined and rationalised in numerous ways, but the following encompasses the essence of the concept: Materiality is a concept or convention within auditing and accounting relating to the importance/significance of an amount,…