July 2020 Issue
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Clean eating
With many people working from home, it seems that this comes with its fair set of challenges regarding balancing work and life. Boundaries have been blurred and most are working more than their usual hours, often neglecting their health and family time. As much as demands have increased during this chaotic time, it is very…
Impact of the withdrawal of the CIPC non-binding opinion on sections 90 and 92 of the Companies Act
With the withdrawal of the CIPC non-binding opinion, auditors should be cognisant of the requirements of section 90 and 92 of the Companies Act when accepting an appointment as the auditor of the business accounts of a legal practitioner. This article serves as a reminder of these such requirements. In October 2019, the Companies and…
Audits of legal practitioners’ business accounts
Audit requirements relating to the business accounts of legal practitioners have now been clarified. In October 2019, the Companies and Intellectual Property Commission (CIPC) issued a notice of the withdrawal of the non-binding opinion pertaining to Regulation 28(2)(a) of the Companies Regulations 2011 to the Companies Act 2008. This opinion applied to legal practitioners who…
Professional scepticism explained
Following another spate of corporate governance and audit failures both locally and internationally, lack of professional scepticism is a phrase frequently quoted in the media. This article attempts to clarify the concept of professional scepticism and how auditors can practically apply this. The misconception The media seems to use the blanket statement ‘lack of…
Financial reporting in a brave new world
Unprecedented. It’s a word that’s often bandied about in a hyperbolic sense, but in the case of the global COVID-19 pandemic, it’s one of the most apt descriptions of what the world is facing. COVID-19 is an unprecedented event that has affected every single part of life on the planet, including leaving an indelible mark…
Viewpoints: Collars and caps
Wealth Advisor‘Collars and caps’ may sound like the dress code for a country outing. But when the VIX (volatility index) hit a record high of 83% in March 2020, it was time for ‘circuit breakers’. COVID-19, a black swan, was the uninvited guest to the investment party. Mike Lledo CA(SA)IndependentFinancial Services Consultant Unprecedented volatility The…
Viewpoints: The unexpected consequences of leadership decisions
Business Innovator and CatalystAs leaders, our decisions are powerful. They have ripple-like effects, both positive and negative, that in large we cannot always anticipate. I offer no insight as to how to be a better oracle when making decisions but merely offers anecdotal macro trend information on some of the unexpected consequences of the global…
Viewpoints: COVID-19 survival tips for entrepreneurs
Financial Consultant & CoachAs South Africans, we are used to facing multiple challenges and conquering those challenges. We are warriors. We are strong. We are survivors. We were hit hard but we will fight this. We will come out stronger than before. Ronel Jooste CA(SA)Director at FinanciallyFiTLifeand author, speaker and radio talk show host Cash…
Viewpoints: The evolution of the CFO
Social Enterprises AdvisorIt feels like fortuitous timing, writing this piece as the world is coming to term with the impact of the COVID-19 outbreak. I reflect below on the tremors across industries and my personal reflection as a CFO in the mid-2010s. One thing is certain – CFOs have shed the traditionalist roles of the…