The motto of the family of The Duke of Westminster, arguably one of the richest men in the world, is virtus non stemma – virtue, not ancestry. The title dates back to 1622 when it was bestowed by King Charles the First. The King himself was later beheaded by Oliver Cromwell’s Army in 1649. How…
THE CFO CHALLENGE: DO THE RIGHT TOOLS EXIST? Startling results from the recent SAICA survey on the ‘South African CFO of the Future’ revealed that more than 70% of CFOs believe that their most important role within the organisation on a five year horizon will be that of planner and strategist. The reason for the…
FROM THE PEN A twofold attitude of gratitude As many of my counterparts across the globe would recognise, putting together a monthly journal is no small mission. Without the support of dedicated supporters and contributors, and reviewers and readers, the hours of slogging over the right mix of content, proper syntax and correcting split infinitives,…
Our profession is a diverse one, which is evidenced by the myriad of activities in which our members are engaged; activities that include audit, accounting, taxation, financial management, general management, human resources, consulting, internal audit, operations … and the list goes on. And within each of these spheres, our members operate across industries and in…
The Chartered Accountant (South Africa) or CA(SA) designation is a very prestigious designation, and much sought-after. Not only does research support this conclusion, but if imitation is the sincerest form of flattery, and if the increasing incidence of persons that are not entitled to use the CA(SA) designation holding themselves out as such is anything…
Notice of the SAICA Annual General Meeting The Annual General Meeting of members of the South African Institute of Chartered Accountants (SAICA) will be held in Gauteng at The Theatre on the Track, 4A Kyalami Boulevard, Kyalami Business Park, 1 Monza Place, Kyalami Park, on 21 May 2009 at 09h00 to transact the following business:…
What’s new on the reading circuit? THE CRUNCH: How greed and incompetence sparked the credit crisis Author: Alex Brummer Published by rh Business Books If this book was a thriller, it would be an exciting read leaving you tired but exhilarated at the end. Unfortunately it is not. It is in fact what has actually…
URGENT AMENDMENTS TO TWO FINANCIAL INSTRUMENTS INTERPRETATIONS The International Accounting Standards Board (IASB) has published for public comment proposals to amend IFRIC 9(AC 442) – Reassessment of Embedded Derivatives and IFRIC 16(AC 449) – Hedges of a Net Investment in a Foreign Operation. The exposure draft has been issued with a 30-day comment period. This…
FROM THE PEN Results and predictions In The Economist’s ‘The World in 2009’ issue, they make, as per the norm, a number of predictions are madethat have me quite intrigued. The Economist shares that there is a global shift of power emerging through the economic crisis the world is currently facing. Emerging economies such as…
Here in this good journal I have emphasised the changes to the Chartered Accountant (CA(SA)) qualification model ad nauseam over the past few months. I continue to emphasise that quality has been and will remain, the cornerstone of this profession. Those who claim a lowering of standards have yet to demonstrate to me a tangible…