This article focuses on customs duty in South Africa, including the role and status of the South African Customs Union (SACU). Introduction In South Africa, customs duty is levied on all products imported into SACU. Interestingly, SACU is the world’s oldest customs union and has its origin in a convention held in 1889 between the…
Exchange Traded Funds (ETFs) have enjoyed significant growth, both locally and globally, over the past few years. This growth has occurred despite significant losses across equity market indices over the past year. According to Black Rock, global ETF assets increased by 45.2% in 2009, which is more than the 30% rise in the MSCI World…
The professional development unit at SAICA is responsible for “delivering competent entry level members” to the profession. As is the case with most of the world around us, we have undergone many changes over the past 12 to 18 months. These changes can be summarised as follows: • Reflection of the Qualification Process for CAs(SA): SAICA’s…
Overall prognosis: A game of two halves; good for all in the first half, less good for some – especially the West and Japan – in the second. My essential prognosis for 2010 is that, whilst the US, Europe and Japan will NOT have a double dip recession in the sense that they will again…
Fokus op langasem groei Die resessie is alweer iets van die byna verre verlede soos ons op 2010 se herstel fokus, en by dit verby probeer kyk na die jare wat daarna volg. Daar is nie juis iets wat ons nou regtig terughou nie, hoewel daar wel kanttekeninge is. Die tradisionele betalingsbalansbeperking is nie eintlik…
Bruce Freer CA(SA) was nominated for membership of the Commonwealth Secretariat Audit Committee (AC) by the SAICA UK region, through the South African High Commission and was elected Chairman at the 3 December 2009 AC meeting. The Commonwealth is a voluntary association of 54 countries that enables member states to support each other and work…
During poor economic times, management of various companies may be under pressure to produce good results, and may use various means to justify the fair value of goodwill and indefinite life intangible assets. In these circumstances, the auditor should proceed with skepticism and caution when reviewing the impairment tests prepared by management for these elements…
Today, cellphone viruses are not regarded as a big deal. But if you think your phone will always be safe… think again. You might be carrying a virus around in your pocket. A professor made the comment, during one of his lectures, that technology has changed to such an extent that a couple of years ago…
The accounting dilemma facing Zimbabwe in the midst of severe limitations to financial reporting Recently Zimbabwe set several world records. Swimmer Kirsty Coventry set the world record in the 200m backstroke at the Beijing Olympics and broke her own record in Rome this year. Cricketer Charles Coventry equalled the highest individual ODI score with a…
In Review Name: The Black Swan Author:Nassim Nicholas Taleb Publisher: Penguin This book, first published in 2007, has already become a business classic. Nassim Nicholas Taleb was born in Lebanon and lived much of his childhood years through the Lebanese Civil War. These experiences caused him to view life and events in a very different…
