Auditors are engaged as protectors of society and are expected to be independent of the company. Yet it is the company who appoint and remunerate the protectors. Only by changing who pays the auditor will real audit reform take place in the public interest. A 2020 report into the audit profession’s deficiencies by former London…
Details‘Who will monitor the monitors of the monitors? This is a critical question that organisations, professional bodies and regulators who have been tasked with monitoring society need to consider. I believe that external audit falls within this category and we too need to consider this question. In this article I will explain why external audit…
DetailsStanley SubramoneyFormer Deputy CEO of PwC It is imperative to recognise that it is not only the auditors who need to take accountability for the financial reporting scandals of late. It also remains the responsibility of management and those charged with governance for not doing more to protect the public interest we serve through our…
DetailsHow can auditor independence be enhanced and the audit market be deconcentrated and transformed? Victor Sekese elaborate. The recent reported global and local corporate governance failures have put a spotlight on auditors and their role in the financial reporting process. Furthermore, the revelations at the Zondo Commission have accentuated public debate on the role of…
Details3d render business concept capital gains tax crossword cubes This article is the second and final in this series examining the various reliefs and implications which can arise within capital gains groups of companies. Part 1 set out the definition of a capital gains group and how to determine which companies are part of such…
DetailsIt is only if the profession prioritises serving the public interest above all else that it will be truly trusted by the public. Any firm or profession that subordinates this purpose to other purposes like being respected as the provider of smart and innovative solutions by clients will be distracted and will not adequately fulfil…
DetailsWe highlight below some of SARS’ operational and tax administration matters that have been addressed recently Author | Somaya Khaki, Project Director: Tax (Member Services) SARS’ use of Adobe Flash As noted in the February issue of ASA, following the discontinuation of Adobe Flash Player and the subsequent challenges that taxpayers experienced, SARS released its…
DetailsSAICA’s CEO Freeman Nomvalo and Project Director Thandokuhle Myoli spoke to Monique Verduyn about redesigning the audit profession so that it brings out the best in its people and the wider role and purpose of audit in serving the public interes. Since 2017, the auditing profession has been plagued by high-profile corporate failures that have…
DetailsAccording to futurist Karl Schroeder, foresight is not about predicting the future, it is about minimising surprise, and this will be a cardinal aspect in planning for the year in order for South African businesses to not only survive but thrive. ASA spoke to four major players in the South African landscape about their sentiments…
DetailsObtaining the CA(SA) qualification is tough – anyone can tell you that. But not everyone finds themselves dealing with the challenges thrown up by the course while struggling with chronic pain. This was the situation Ryno Kleynhans faced when he started experiencing excruciating headaches in 2018, just a few months after he had arrived at…
Details
