There is a vast difference between accounting and personal finances. Contrary to the general perception, some accountants are brilliant at what they do in the workplace managing and reporting on somebody else’s money, but struggle when it comes to managing their own finances. We do not get taught about money management at school or university,…
Investing in the stock market can seem like a daunting task, especially for those who are new to the game. I vividly remember my first investment experience back in 2007 when I was just 17 years old. I invested roughly R3 000 to purchase two Naspers shares, each priced at approximately R1 500. The hard-earned…
Medical aid schemes help people to pay for healthcare needs and medical expenses in exchange for monthly contributions. Sometimes medical schemes in South Africa enter into capitation agreements with another party whereby the medical scheme pays, to such party, a pre-negotiated fixed fee in return for the provision of specified benefits to the members. The…
The Finance Minister delivered his annual budget speech on 22 February 2023, and did not raise taxes. This was expected, given the state of the economy. The budget instead announced R13 billion in tax relief. Through an expansion of the Income Tax Act’s section 12B renewable energy tax incentive, businesses receive R5 billion and individuals…
Doctors ‘play god’ every day as they hold patients’ lives in the palm of their hands. A cut one centimetre too deep or too wide can be the difference between a mother, father, son or daughter going home to their family or not. Accountants can’t compare, or can they? Accountants play a vital role in…
By providing independent oversight and monitoring of the financial reporting process, audit committees can help to identify and mitigate potential areas of risk, prevent financial irregularities or misconduct and decrease the likelihood of corporate failures. As established in the article by Carla Budricks titled ‘Comprehensive regulation of the financial reporting ecosystem’ in the June issue…
Africa’s family businesses need to transform to secure their legacy, and building trust is key to this. Approximately half of Africa’s family-owned businesses believe their customers do not trust them. This key finding from PwC Africa’s Family Business Survey 2023 should be viewed as a notable concern for the continent’s family businesses, many of which…
Tips for protecting your career. Imagine yourself performing excellently at work, and your bosses are extremely pleased with your results. They are so delighted that they asked you to take the lead. You are thrilled because this shows that your career is on track, and you are advancing in your field. Everyone is aware that…
It is important to be aware of the changes taking place around ESG reporting. The USA and UK are currently working on laws for sound ESG reporting and governance, and various standard-setting bodies are also working on reporting frameworks to assist with the burden of environmental, social and governance (ESG) reporting. ESG LANDSCAPE CHANGES Although…
Meet the people behind SAICA’s Sustainability Technical Committee The objective of SAICA’s Sustainability Technical Committee (STC) is to support the organisation in responding to various current and emerging sustainability aspects as it relates to members and other stakeholders. This includes advocacy, thought leadership, guidance, and stakeholder engagement. Focus areas include reporting and disclosure, with specific…