On 3 April 2017, Standard and Poor’s Ratings Services decided to cut South Africa’s international credit rating from BBB- to BB+. A rating of BB+ is considered below investment grade (sometimes referred to as “junk status”). Unfortunately, the negative ratings outlook was also retained, suggesting that S&P could revise the country’s credit rating lower at…
By Mokgatla Madisha, Head of Fixed Interest at Sanlam Investment Management “Don’t get distracted, focus on the fundamentals”, says Mokgatla Madisha, Head of Fixed Interest at Sanlam Investment Management. The political situation in South Africa has been fluid for quite some time so the events of last week are not all that surprising. They serve…
Today we continue to find ourselves on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. It’s already been termed the Fourth Industrial Revolution and in its scale, scope, and complexity, the transformation brought about by it will be unlike anything humankind has experienced…
In November 2016, 2 529 aspiring CAs(SA) nervously sat for their final professional examination, the Assessment of Professional Competence (APC). Now SAICA can announce that 89% (2 247) of these candidates passed The CA(SA) journey is not for the faint-hearted. It takes a minimum of seven years to complete and those who begin the journey…
Rolls-Royce Sandton recently launched the Rolls-Royce Black Badge in South Africa. This new series comes in Ghost and Wraith only, and what more fitting place to launch the cars than the newly revamped Kyalami race track ‘Black Badge is an attitude to life, an aspect of the Rolls-Royce brand that appeals to those people who…
Part II of the ‘reasonable informed third party’ (RITP) essay deals with the definition of the parts of the RITP concept and the function. RITP will be defined anew when a new IESBA Code will be issued and that will be dealt with in a further article on this matter While the concept of reasonable…
How can you reinvent your field? Many times in history, individuals or corporations have stood out because they thought outside the box and reinvented the way they approached and did something. This then marked a change in the entire industry or field, and so their names and stories have made history. Take the high jump,…
MATTHEW LEGG How did you prepare for your exams? By sitting in a room, discussing and debating day in and day out with a team of three of the most beautiful and brilliant minds I know. Dane, Dean, Kerri (in alphabetical order), thank you beyond words for carrying me through – this achievement is as…
The Value-Added Tax Act 89 of 1991 contains general time and value of supply rules. There are however specific time and value of supply rules that are applicable to connected persons. A special value of supply rule is essentially triggered where connected persons are not dealing at arm’s length. Connected persons A ‘connected person’ is…
The most recent definition I could find for ‘Broad-Based Ownership Scheme’ (BBOS) in a B-BBEE context was the DTI’s 2005 draft version of Statement 100 on Ownership, which reads: ‘“Broad-Based Ownership Scheme” means a collective ownership scheme constituted with the view to facilitating the participation of specified natural persons in the benefits flowing from the…