Non-Compliance with Laws and Regulations (NOCLAR) In line with the changes to the International Ethics Standards Board for Accountants (IESBA) Code of Ethics for Professional Accountants (IESBA Code), the SAICA Code of Professional Conduct (SAICA Code) was updated in December 2016 to include new, first of their kind ethics requirements and guidance to assist members…
Responsibilities of the audit committee This is the second part in a series of articles on the 1-2-3 of audit committees. In the first part, we gave an overview of the recommendations The Institute of Directors in Southern Africa issued the King IV Report on Corporate Governance for South Africa, 2016 (King IV Report) on…
Section 24I of the Income Tax Act 58 of 1962 was introduced to deal with foreign exchange gains and losses on any unit of currency on hand, debts due to or by a taxpayer, forward exchanges contacts, and forward currency option contracts. Where a debt is therefore due to a South African taxpayer (not a…
James Wilkinson Ayanda Kanana Francois Herbst Tyron Barnard Robert Zwane Since the launch of the Top 35 competition in 2014, every year we are yet again completely blown away by the calibre of the Top 35-Under-35 finalists. Each finalist walks into that judging room at Investec to tell their journey of success; some are nervous,…
Accelerate Job Creation Sustainable socio-economic solutions for SMMEs in South Africa The ethical time is now! Why NPOs need chartered accountants Become a change agent in the public sector Ethical courage Growing SMEs into globally competitive businesses Accelerate Job Creation If you are a young person between the ages of 15 and 24 in…
I recently spent 20 minutes with one remarkable individual after the next as fellow judges and I assessed finalists in SAICA’s Top 35-Under-35 chartered accountants for 2017. Though varying evaluation criteria guided the process, one metric stood out for me: integrity. I often reflect on the challenges facing South Africa’s leadership at present and the…
The importance of high endeavour Given today’s rapidly changing world and the unpredictable nature of many industries, companies are having to rely more and more on financial and operational data to inform strategic decisions. Finding a financial reporting solution that meets the business needs of today – and responds to the still-developing requirements of tomorrow…
The world is your oyster Patricia Scott (née Galbraith) has been living in New Zealand with her Kiwi husband for four years and thoroughly enjoys the laid-back Kiwi lifestyle, except perhaps when the traffic lights take forever to turn green. Patricia is currently lecturer and tutor for first-year accounting students, doing her part to ignite…
This article isn’t directed at the large multinationals with vast security resources but is meant for the individual who is keen to protect his privacy and small businesses who want to make sure they are protecting their information Over the course of the last decade, a new economy has come to dominate global markets; similar…
My previous article, ‘Debilitating Inflation’ in the July 2017 issue of ASA, was a warning not to assess growth in absolute rand terms but rather in percentage growth. Despite this, I found myself falling into this trap again. We’ve acquired a couple of new neighbours in the last year and being the sociable street that…
