The 2019 financial year requires an entity that uses International Financial Reporting Standards (IFRS) to account for its lease transactions using the new standard IFRS 16, Leases. Words: Milton Segal From a financial theory perspective, the concept of leasing makes economic sense. When an entity requires the use of an asset or a resource to…
DetailsAuditors recognise the importance of exercising an appropriate level of professional scepticism during the performance of an audit but get stuck on how to practically demonstrate that this has been achieved. This article provides an overview of the provisions included in ISA 540 (Revised) relating to the practical application of professional scepticism when auditing accounting…
DetailsAccessing data to deliver the insights required for effective decision-making is a fundamental business skill in the digital age. Underpinning this is a corporate reporting strategy that links the information needs of an organisation with the data and the calculations to measure success. In the age of business intelligence (BI) and advanced analytics, the technology…
DetailsLooking back over the past five editions of the IRMSA report, it is disappointing to see that so many risks have materialised. Disappointing because, first, the South Africa and Industry risk profiles have remained largely the same and most of them materialised over this period − so the risks were well known and yet the…
DetailsIf you’re already running a WordPress blog or planning to start one, you are probably hoping to attract an audience and turn them into repeat visitors. Getting this right involves a mix of elements from the content to search engine optimisation (SEO) to the look-and-feel of your site. Here are a few pointers for turning…
DetailsIt is fair to say computers have had a profound impact on the way accountants work. The last three or so decades have seen the spread of accounting software, automated controls, paperless processing systems, cloud accounting, and computer-aided auditing systems. Could the industry be about to see a much bigger revolution with the advent of…
DetailsMonica Singer CA(SA) Blockchain Evangelist for Consensys Stablecoins promise to make transacting as easy as using social media. Payments are not just about sending money to each other, but about connecting to other people, just like we do on social networks. Stablecoins integrate into our digital lives in ways that fiat currency (currency issued by…
DetailsPaolo Giuricich CA(SA) Founder and owner of smarter EQ A while back terms like ‘Fourth Industrial Revolution’ (4IR) and ‘gig economy’ were foreign to us. Today, these are overused terms. The practicalities of this ‘future’ are with us already and require us to respond appropriately to survive in business. For centuries, people have been performing…
DetailsKevin Phillips CA(SA) CEO of IDU Group The social and environmental benefits of impact investing are too important to be left to the private sector alone. If South Africa is to have any hope of a sustainable future, the state needs to improve its game dramatically. There’s a simple litmus test for any kind of…
DetailsUsha Maharaj CA(SA)Founder Meraki Evolution − Leadership & Women Empowerment Are you ready for 2020? A year like never before, where each new day holds the promise of evolution. The way we do business, communicate, learn and serve is evolving and transforming every day. Should you be evolving and transforming too? Chasing career success in…
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