The last twelve months have been challenging for accountants. They have been stepping up to guide small businesses through COVID-19 challenges and support the wider economy. Technology has been key in helping them to do this. Xero’s recent research found that 87% of accounting firms use some cloud technology. The global pandemic has made the…
In December 2019, the International Auditing and Assurance Standards Board (IAASB) issued International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement. On its release, the IAASB stated that ISA 315 (Revised 2019) is an important part of the IAASB’s efforts to improve audit quality globally. The IAASB chair,…
The concept of materiality is one of the most fundamental and significant concepts within the financial and corporate reporting ecosystem. ‘Materiality’ can be defined and rationalised in numerous ways, but the following encompasses the essence of the concept: Materiality is a concept or convention within auditing and accounting relating to the importance/significance of an amount,…
Direct marketing to existing customers of the marketer can continue as regulated under the CPA. Once the POPIA deadline for compliance is reached, non-customers may only be approached once for consent. Colin Victor explains. Two primary pieces of legislation regulate direct marketing activities, namely the Consumer Protection Act 68 of 2008 (CPA) and the Protection…
The issues the MIB groups focus on are tabled and addressed from an auditor, preparer and regulatory perspective. SAICA has a broad membership base, with members taking up key roles in different industries and at differing levels of seniority. To ensure that we cater to our members’ needs, we run interest groups for our members.…
Leading in times of uncertainty Today, uncertainty is everywhere. We have all heard anecdotes about some of the world’s most valuable companies … the world’s largest taxi company, Uber, owns no cars, the world’s largest accommodation provider, Airbnb, owns no property, and so on. But even for them, times are uncertain. Because people did not…
Compassion fatigue is when someone in a helping role begins to experience burnout from the “burdens” of being the helper or hearing about traumatic events. During the current Covid-19 pandemic, trauma and stress has been taking its toll. In order to help others, it is critically important that we take care of ourselves first. If…
The art of inspiring hope What a year! And what has it taught us? For many, it was a year of losses and fear, but it has also taught us to be grateful. We have also been inspired by the stories of resilience − how many have found ways to impact and inspire others despite…
‘There comes a time when silence is betrayal,’ Martin Luther King Jr once said. Kimi Makwetu’s life was lived as a loud voice for things that mattered for the people of our country, especially those who live on the margin. I met Kimi in the trenches of student politics in the 1980s. Driven by a…
SAICA’s CPD compliance declarations need to be completed by 31 January 2021 As per the CPD Policy, all members (whether they are professionally active or not) are required to complete an annual declaration. Declare your CPD compliance now by clicking here. What does the declaration entail? According to the new policy, all members and…