In a country like South Africa, the term ‘employee benefits’ means so much more than the cost-to-company incurred during that period − it embodies not only today’s food for breadwinners’ families but also the promise of a better tomorrow through the education of our youth, who hold the nation’s dreams and aspirations. It seems that…
DetailsTo become an international sportsperson and a chartered accountant is beyond the scope of most people’s dreams. Yet that is exactly what Phumelela Mbande CA(SA), goalkeeper and captain of the South African women’s hockey team, has achieved despite countless challenges. Her team competed at the 2020 Tokyo Olympics, where Phumelela had the honour of being…
DetailsThis time of the year has many of us wondering whatever happened to the year! It’s almost like time is disappearing. Considering what we need to do before the year ends, creates anxiety in many of us. It also makes you wonder how you spend your time, because our waking hours are largely consumed by…
DetailsThe advent of Fourth Industrial Revolution (4IR) technologies has presented both clients and auditors with massive opportunities and challenges which, if fully embraced, can completely change the face of the audit experience for both client and auditor. Much has been said about the 4IR and its disruptive impact on many industries, including the accountancy sector.…
DetailsIn the current economic environment, there are various reasons why small and medium enterprises (SMEs) would require an audit of their annual financial statements. An audit could be required by law in terms of the Companies Act of South Africa, the company’s memorandum of incorporation, the bank during an application for funding, potential investors, or…
DetailsThe idea of splitting the auditing and non-auditing (consulting/advisory) businesses of firms was mentioned in a report by a United Kingdom Parliamentary Committee following the collapse of Carillion in January 2020. The UK regulator (the Financial Reporting Council, FRC) later asked the largest UK firms to operationally split up their auditing and non-auditing businesses by…
DetailsDoes the current model of the traditional regulatory and statutory audit still make sense in the changing business context? These audits performed by independent and external auditors in line with relevant laws and regulations, require the auditee to submit a set of reporting information, and the auditor to produce their report annually in line with…
DetailsRunning your own business is not easy, and certainly not for the faint of heart − especially when it is necessary to implement new requirements. Will there ever be an ideal time? For any business to be successful, it must be managed properly. No matter what goods or services you provide, they must be of…
DetailsThe voices calling for sustainable business practices across all industries are growing ever louder and the journey towards ‘Net Zero’ will require everyone across the globe to play their part if we are to successfully combat the risks associated with climate change. The world in which the accountancy profession is operating in has significant challenges…
DetailsThe accounting profession is at one of those key points in time where change is inevitable. With the new International Standards on Quality Management (ISQM) coming into effect on 15 December 2022, we are less than four months away from its effective date. The question is: ‘Are you ready’? The only constant in life is…
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