Amanda Botha explains how the application of the principles set out in the proposed International Public Sector Accounting Standard will enhance the credibility of a first-time adopter’s financial statements during its transition to full accrual accounting The International Public Sector Accounting Standards Board (IPSASB) has recently issued a proposed standard, the First-time Adoption of Accrual…
DetailsThe South African transfer pricing landscape poses a number of challenges to South African taxpayers engaged in cross-border intercompany transactions. Article by Cornelia Wolff and Michel Verhoosel Over the past years, transfer pricing has been become increasingly important for those companies with cross-border intercompany transactions. It seems that this trend has not come to an…
DetailsIt is important to understand the meaning of “financial distress”, as the requirements of Chapter 6 of the Companies Act 2008 are triggered as soon as a company is in financial distress, writes Johan Erasmus Chapter 6 of the Companies Act 71 of 2008 deals with business rescue. Business rescue is largely self-administered by the…
DetailsSAICA Thought Leadership Paper Publication B-BBEE: insightful corporate reporting South Africa has not yet realised the badly needed growth for effective transformation to take place, stating that sustainable and economic transformation can only be attained if Broad-Based Black Economic Empowerment (B-BBEE) receives widespread support from all sectors of business. B-BBEE remains a vital transformation policy…
DetailsRunning a business involves time-consuming admin and management tasks that are nonetheless crucial to staying competitive. Cloud-based technology lets you outsource the headaches, writes Daniel Marcus The worldwide web has changed the ways in which businesses communicate with consumers. But did you know it has also changed the very ways in which business owners run…
DetailsAlthough South African women are making great strides in the boardroom, corporate South Africa still has more work to do particularly when it comes to leadership positions, says PwC. Women currently hold less than four percent of CEO positions in JSE listed companies. “Companies that are actively promoting and advancing women to the highest levels…
DetailsWhilst the core activities of the accounting process remain identification, measurement and reporting, today’s fast-paced and dynamic business environment has meant that the methods of delivery have changed significantly. Gone are the days of the simple double-entry accounting system. The modern financial manager has to find ways of successfully navigating not only the ever…
DetailsSome people say that you don’t need a holiday … you need Cape Town. And we tend to agree, especially if you can have that holiday at the world-famous Twelve Apostles Hotel and Spa Imagine this … Just a few minutes from Cape Town, on a picturesque drive along the winding Victoria Road on the…
DetailsIlke Meissner examines the requirements of broad-based employee share plans and their comparison to the proposed terms for shares to be held under trust in terms of the Companies Act The provisions regulating broad-based employee share schemes in the Income Tax Act 58 of 1962 play an important role in encouraging employee participation in companies.1…
DetailsIn August Paul Druckman will be visiting South Africa for the first time in his capacity as chief executive officer of the International Integrated Reporting Council (IIRC). Leigh Roberts spoke to him Integrated reporting may well be considered de rigeur in South Africa, but things are quickly catching up in the rest of the world.…
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