In September 2008 the great financial crisis started. In October 2008 Satoshi Nakamoto released a white paper that explained bitcoin and the ledger that uses blockchain technology and the vision for one currency for the world using the Internet of Value. Bitcoin, as opposed to fiat currencies, is a decentralised digital currency that enables instant…
DetailsCyber insurance has many benefits, but also some limitations that CFOs and accounting departments are not always aware of. Here’s how you can protect yourself more comprehensively. The estimated impact of cybercrime on the South African economy is R2,2 billion per annum. Impersonation crimes, especially, are of huge concern. These fraud instances, where fraudsters assume the identity…
DetailsA generation of better-equipped accounting professionals could not only help guide smarter economic choices in the public and private sectors but also serve as a bulwark against corruption. South African students are struggling at university. This is now well documented. Students take more years than average to complete degrees and drop out at high rates.…
Details‘You don’t have to start your own business to create wealth,’ write PJ Botha CA(SA) and his brother, Geo, presenters of the TV series Welvaartskeppers (wealth creators), in their first book, Word Ryk, Bly Ryk. In their insightful book, the brothers Botha endeavour to teach ordinary South Africans how to make money in a challenging…
DetailsTrading stock sold under a contract requiring full or partial payment for ownership to transfer falls under section 24. Section 24 taxes the full amount upfront and grants the taxpayer a debtors’ allowance deduction, resulting in a cash flow basis of taxation. Section 24 was amended to specify that the relief also applies to lay-by…
DetailsTechnology is rapidly evolving, and artificial intelligence (AI) is transforming the way we work and communicate. Auditors need to be aware of the digital technology tools that are currently available and how to use them as part of the audit process to make the audit process more efficient and effective. This requires that the auditors…
DetailsIn 2022, Municipal IQ recorded 193 service delivery protests. This is a powerful statement made by South Africans whose quality of life has been diminished by their municipalities’ inaction, and it is the plight of these individuals that motivates Shabeer Khan, the Accountant-General of South Africa. Shabeer explains that one of his primary responsibilities as…
DetailsFounded on the values of respect and integrity, Motlanalo Inc, a black women-owned SMP headquartered in Polokwane, Limpopo, is geared towards transforming the audit landscape. In reliving the events around the genesis of her firm, Koko Khumalo CA(SA) entertains an erudite conversation on learning organisations, a branch of study associated with knowledge management. The CEO…
DetailsMpho Lebethe has combined her passion for entrepreneurship with an equally fierce enthusiasm for upliftment, forging a career path that ensures others rise as she does. ‘My grandparents raised me with the belief that even if you only have R100, you can still share R50 with those who have less than you,’ says Mpho. It’s…
DetailsAs business owners, we often find ourselves basking in the glow of success during prosperous times, putting aside our contingency plans, and allowing complacency to settle in. It’s easy to assume that the sun will keep shining – until it doesn’t. In business, we must expect and be prepared for the unexpected. How does your…
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