Risk management can feel like going to war: there are threats on the horizon and it could take substantial investments of time, resources and effort to achieve victory. Some of the threats your business will face are bad debts, theft or fraud, loss or theft of data and natural disasters. The good news is your…
DetailsOutside the grey stone walls of Oxford University’s Saïd Business School, it was an ordinary damp Friday morning in England. But inside, where I sat listening to Adrian Moorhouse – Olympic gold medallist turned consultant – it was an extraordinary moment. I had just experienced that rare and delightful ‘Ah-ha!’ moment, and I knew then…
DetailsSAICA’s National Small and Medium Practices Committee (NSMP) and the Accounting Practices Committee (APC) jointly conducted a survey in order to better serve and understand the financial reporting needs and reporting environment of small and micro entities. The objective of the survey was to solicit views from preparers, auditors, reviewers and advisors/consultants of small and…
DetailsProtection of Personal Information Act [B 9D – 2009] Approved by the National Assembly on 20 August 2013, after minor amendments proposed by the National Council of Provinces in 2012, the president signed the Protection of Personal Information Act (PoPI) and it became law on 26 November 2013. The Protection of Personal Information (PoPI) Act…
DetailsStor-Age, the country’s largest and leading self-storage company today, boasts a R1.5 billion property portfolio consisting of 33 properties, comprising 25 trading stores and eight development sites across six cities. As recently as 2006, two of the three CAs(SA) running this unglamorous business were still doing their articles and dreaming of anything but self-storage. CAs(SA)…
DetailsMost people try to live a risk-free life. You may view taking risks as reckless and irrational and to be avoided. But unfortunately, life is full of risk. Everything you do involves risk. There are dangers in every type of travel, eating, breathing, working, exercising, etc. Risk is an unavoidable part of your everyday life.…
DetailsEvaluating the benefits of integrated sustainable reporting according to the King III Codes of Governance, and what it means for those responsible. The King III Code has brought more clarity and weight to the concept of integrated sustainable reporting, which has been to the benefit of all stakeholders. Those tasked with the responsibility of compiling…
DetailsIn 2013 South African Revenue Services collected taxes amounting to R814-billion, an increase of 9.6 percent on total revenue received in 2012. “More efficient collection systems and the deployment of online technologies such as SARS eFiling have simplified the collection process and made it easier for taxpayers to submit their returns on time,” says…
DetailsThe International Accounting Standards Board (IASB) published the proposed amendments (ED/2013/9) to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) in October 2013 for comment. This is the first review since the release of the standard in 2009. It is the IASB’s expectation to review the standard in a three…
DetailsI recently had the opportunity to attend a breakfast where Chris Gardner spoke. You might not know who he is, but you probably know his story. In his lifetime, this successful against-all odds stockbroker was the inspiration behind the Academy Award-nominated film, The Pursuit of Happyness. He has accomplished many things – overcoming a violent…
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