ISQM 11, ISQM 22 and ISA 220 (Revised)3 come into effect on 15 December 2022. These standards are expected to have a significant impact on all firms that perform engagements in accordance with the IAASB standards. The South African Institute of Chartered Accountants (SAICA), in collaboration with the Pan African Federation of Accountants (PAFA) and…
Fixing the vicious cycle of not having enough time requires leaders to start with a blank slate and radically redesign the way they work, instead of making small incremental changes. Focus and discipline to master this 80% of the time will lead to an exponential shift in creating time and mind space for innovation. Lize…
Even in today’s technologically advanced world, supply chains could dramatically improve efficiency, enable tracking, and limit exploitative behaviours. The implementation of public, private, and hybrid blockchains will bring traceability, transparency, and accountability to the movement of goods and commodities. The use of smart contracts is an enabler for this technology. Monica Singer CA(SA) Blockchain Evangelist…
Too many companies seem to be rolling out one-sided innovation that only benefits them, and not their customers. This is especially outrageous when it comes to how customer service technology is (mis-)implemented. Kevin Phillips CA(SA) CEO of IDU Group Have you recently taken a company up on their suggestion to WhatsApp their helpdesk instead of…
Can money buy happiness? This is a question that has been debated for centuries, with no clear consensus. However, what if the real question is not whether or not money can buy happiness, but whether or not money can buy freedom? Usha Maharaj CA(SA) Executive and Leadership Development Coach; passionate about women empowerment and human…
For several years, we have seen a strategic shift in the way that the chartered accountant plays a role in business. In earlier years, the accountant and/or the accounts department were viewed as a back-office function that only ran the numbers and submitted financial information. In today’s working environment, accountants are playing a far more…
This is a list of things to do each day if you choose happy. This is my way of turning on the light. Try it. It works for me. No, this list is not about what to do when Eskom implements load-shedding, although happiness will certainly be found the day that load-shedding is a thing…
2022 has offered more than its fair share of challenges for small and medium businesses (SMBs), including frequent load-shedding, a volatile exchange rate, rising inflation and interest rates, and ongoing supply chain disruption. These difficult trading conditions highlight the harsh economic environment, a beyond-resilient South African SMB market, and the importance of a disciplined approach…
Tax systems are complex and have historically tended to change slowly. However, in the wake of rapid digitisation, global geopolitical instability, financial crashes, and then the COVID-19 pandemic, the pace of change in business, and thus in entire financial systems, including taxation, has increased too. In the five years since my company was founded, we’ve…
While most central banks across the globe are exploring the issuance of a CBDC, the key motivations for its issuance are specific to each country’s unique requirements. Currently 105 countries, representing over 95% of global GDP, are exploring a central bank digital currency (CBDC). A CBDC is a digital form of central bank money that…