Since its inception in 1998 and the end of the first reporting period in the year 2000, the Employment Equity Act 55 of 1998 (the EE Act) saw 14 annual reporting periods before the recent amendments. The amendments are contained in the Employment Equity Amendment Act 47 of 2013 which was published for general information…
DetailsA number of issues have been raised, both locally and internationally, in the last few years about appropriate reporting frameworks for government business enterprises (GBEs), the entities listed in Schedules 2, 3B and 3D of the Public Finance Management Act 1 of 1999, as amended (PFMA). Locally, many argue that GBEs should apply the same…
DetailsI recently read an article in the Harvard Business Review that described an experiment on people’s perceptions. A team from Rutgers University asked a group of people to guess the weight of a box of potatoes. When participants were told they would have to lift the box alone, they correctly guessed it weighed an average…
DetailsThe most significant way that accounting software has evolved in response to new technology over the past decade is that it has become more accessible and easier to use than ever before. This, in turn, has meant that accountants and business owners can focus on doing their jobs as efficiently as possible rather than needing…
DetailsGlobalisation, cross-border transactions and a booming e-commerce environment are posing challenges for the collection of taxes – events that have prompted tax authorities across the world to move collectively to counter the loss of tax revenues within their tax jurisdictions. Although double tax agreements (DTAs) assist with the collection of income taxes, the major questions…
DetailsThe size of the annual report of all companies is ballooning, and not necessarily with more useful information. The communicative value of financial statements prepared using International Financial Reporting Standards (IFRS) is diminishing and they are becoming no more than compliance documents. Many national standard-setters, institutes and regulators around the world have undertaken work on…
DetailsProcessing of personal information is widely defined in section 1 of the Protection of Personal Information Act 4 of 2013 (POPI) to include almost any activity in relation to personal information from the point of collection to the dissemination and destruction of such information. The conditions of lawful processing are stipulated in Chapter 3 of…
DetailsGermany is a country like no other … it’s less known (and even lesser understood) by foreigners than most other European countries. If you think of a city in Germany, the name Berlin will probably pop into your head first – it’s surely one of the most fascinating cities in Europe, with a rich history.…
DetailsIt’s been said that if you don’t build your own dream, someone will hire you to help build theirs. It’s a maxim that two small-town entrepreneurs are living by. Describing himself as the black sheep of the family, Lefa Molete (30) says he was a naughty child who no-one expected would amount to much. In…
DetailsMost of us are familiar that when it comes to investments, the essential elements are “alpha” and “beta”. Yet what about your “gamma”, otherwise called ”the value of financial advice”? Simply, alpha is the added value that active investment management brings on top of beta, which is simply what the market achieves. The active versus…
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