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 – is therefore paramount to…
In a time of severe trust deficit, CAs(SA) need to step up and move mountains, says PwC Southern Africa CEO Dion Shango Dion Shango takes the questions of trust and accountability very seriously. ‘Now, more than ever, CAs(SA) have a responsibility to show leadership, be vigilant and speak up on the importance of trust and…
SAICA recently hosted representatives from the International Auditing and Assurance Standards Board (IAASB) where the complexities and challenges relating to extant ISA 315 (Revised) were heard ‘straight from the horse’s mouth’ in the context of the IAASB’s current standard-setting projects The IAASB is an international standard-setting body tasked with issuing standards that promote high-quality auditing,…
‘Investors who don’t have a strategy have been called sheep’ – Investopedia ‘If you don’t have a strategy, you’re part of someone else’s strategy’ – Alvin Toffler Only 6% of South Africans retire at the same standard of living they previously enjoyed. And about 33% of South Africans still have debt to pay off in…
Part 1: Overview of the Recommendations This is the first part in a series of articles on the 1-2-3 of audit committees. The recommended responsibilities of the audit committee as contained in the King IV Report will be explored in the next part With the issuance by the Institute of Directors in Southern Africa of…
This article is an attempt to provide useful information to the accountants of two types of business people in relation to access to grant finance offered by the Department of Trade and Industry and the Department of Small Business Development A popular discussion point around economic growth is small business and its role in growing…
Since adopting the Standards of Generally Recognised Accounting Practice (GRAP) on impairment of assets, stakeholders shared practical challenges on the application of those standards with the Accounting Standards Board. This article discusses these challenges and steps taken by the board to respond to those challenges GRAP 21, Impairment Non-Cash-Generating Assets, and GRAP 26, Impairment of…
Challenges are being faced in the implementation of the new auditor’s report. Here are some tips gleaned from auditors’ initial experiences The most prominent change in the auditor’s report under the new and revised auditor reporting standards is the communication of key audit matters (KAM), which provides more entity-specific and audit-specific information to the users…
These seven incredible ladies are all leaders in their own right who are striving to help our country become a better place in their own authentic way. Not all of them were born with the proverbial silver spoon in their mouths – some even had to deal with the tragic death of their parents. But…
On 9 August 1956, around 20 000 women of all races marched to the Union Buildings to protest laws which restricted the movement of black people in the country. Since 1995, this march has been celebrated in South Africa as Women’s Day to recognise the significant role that women played in the struggle for freedom…
