Fears around the coronavirus (COVID-19) outbreak has spilled into financial markets 9 March 2020: The coronavirus outbreak has rapidly approached global pandemic levels, and given the knock-on effects of the virus on economic growth, the fireworks in markets were inevitable. From sitting at record highs, global markets sold off aggressively during the last week of…
Leading with impact If you ask people what is the purpose of their company, many will tell you it’s vision or mission, or say it’s to make a profit or create jobs − but it’s neither. At its core, a company’s purpose is a affirmation for being in business. It’s the driving force that enables…
The Hotel Bel-Air is everything you’ll ever want and imagine rolled into one. A cocoon – a perfect haven in a sea of clutter Located in the canyons of Los Angeles, Hotel Bel-Air has been a hideaway for world travellers for well over half a century. It’s nestled within five hectares of lush gardens in…
The Minister of Finance (together with his team) has had a tough time coming up with suitable proposals in the face of the overwhelming iceberg that looms ahead. However, SAICA agrees with the Minister that all is not lost and we have overcome before. We know what the challenges are; it just requires political will…
In the 40 years since the founding of the South African Institute of Chartered Accountants (SAICA), much has transpired for the profession worldwide. SAICA was already functioning and influencing major changes to the profession in the middle 1990s when a united South Africa emerged under Nelson Mandela as President. Yet, it also becomes clear that…
One Young World, Chartered Accountants Worldwide and SAICA launched Finbiz2030, an initiative to unite and mobilise the finance and business community to achieve the Sustainable Development Goals (SDGs) by 2030. The launch was be held at Investec, in Sandton on 6 February 2020 with participation of professionals with finance and business skills across industries. ‘If…
Do you know what statutory receivables are and how to account for them? GRAP 108 on Statutory Receivables issued by the ASB is effective from 1 April 2019. This means that entities that apply standards of GRAP need to consider the standard in preparing their financial statements for 31 March 2020 or 30 June 2020.…
This article provides an overview of the objectives of the International Auditing and Assurance Standards Board’s project to revise extant ISA 315 (Revised) and changes that auditors can expect to see International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment (ISA…
SAICA has proudly piloted an innovative mentoring programme for newly qualified CAs(SA) in order to support and enhance their growth and development. This year a core group of volunteer SAICA members who took an active part in the pilot programme are leading the introduction of the next round of the programme When we come across…
Tax SpecialistValue added tax (VAT) on imported goods is paid by the person importing the goods into South Africa. VAT on imported goods is collected by customs before clearing the goods into South Africa. VAT on imported services is paid by the person importing the services into South Africa, only to the extent these services…