The unprecedented challenges posed by COVID-19 have reminded us that we are an interconnected global community. While this crisis rightly has dominated our attention, we must not lose sight of progress on the broader aims of the Sustainable Development Goals and the Paris Climate Agreement. Like the pandemic, our response must transcend national boundaries, engage…
Some entities may have given the preparation of the cash flow statement less prominence in comparison to other statements in the financial statements. However, the cash flow statement remains an important part of the financial statements. The cash flow statement is an integral part of the financial statements. This statement informs users about the actual…
How AI helps accountants deliver forward-looking insights and how AI and Machine Learning can help accountants stay competitive. Artificial intelligence (AI) and automation have brought the accounting profession to a point of pivotal change, and it is about to revolutionise the way that accountants work. AI is already good at automating repetitive accountancy tasks, which…
Equipped with the right tools and skills, the accounting community can be among the most valuable advisors and the key to restarting the South African economy. South Africa’s small businesses face an unprecedented range of challenges, and as a result of the COVID-19 crisis, three out of four SMMEs are not expected to survive, according…
A critical juncture There is an increased focus on ethical behaviour in business and a realisation that regulations and compliance to regulation (as vital as it may be) simply are not enough to ensure a sustained ethical behaviour in an organisation. As ethical leaders, every decision that is made by you have an impact and…
When operating in a distress economy such as we find ourselves in these days, it is an inevitable consequence that shareholders will find themselves disposing of companies for less than they paid for them, whether the companies were formed or purchased by those shareholders. But when can losses on shareholders’ loans be claimed as a…
Many people spend more waking time at work than at home, and yet we may give less thought to creating healthy relationships in the workplace than within our families. I am by no means arguing that your relationship with a partner, children, family or other central figures in your life should take a back seat.…
I have always been intrigued by ‘strategy’, the thing that ultimately sets a company apart from the next and probably, together with strong leadership, the main driver behind sustained value creation. In a series of interviews, I am exploring the different approaches of different business leaders (all chartered accountants) to strategy. I had a virtual…
Auditors will be augmented with technology towards becoming Augmented Auditors 4.0 (Audit 4.0) if the profession wants to remain relevant. As a profession, auditors currently find themselves somewhere between Audit 2.0 and Audit 3.0, with many still relying on outdated tools in a modern business environment. Given the volume of transactions which businesses process daily,…
The Professional Ethical Choice Model described here is one of the experiential learning tools used on SAICA’s mentoring programme, Development of the model A former chair of the Health Professions Council of South Africa’s (HPCSA) Ethics Committee, Professor Charles Malcolm, shares a story of how he came up with the idea of using a method…
