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…
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…
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…
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…
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…
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…
The coronavirus pandemic has reduced CFO business optimism to an extremely low point, according to a SAICA and Duke University business outlook survey. The quarterly survey was conducted over six weeks beginning February 25 and the results document the impact of COVID-19 on businesses around the world. Results below are for South Africa and Africa,…
How will we go back to work, what safeguards will be implemented and how will the working environment change? We spoke to three CFOs from different industries to find out more. As businesses prepare for a post-COVID-19 future, many leaders suggest that we should not expect a return to the past. With the crisis evolving…
When the Auditor-General South Africa (AGSA) releases its annual audit outcome reports, state-owned companies (SOCs) are usually accused of being run poorly and not sticking to good governance guidelines. The numerous challenges CFOs of these organisations face – including basic upskilling of their teams to enhance the finance capabilities required to produce financial information (financial…
It’s common company practice to stick to a three-year cycle to update and upgrade employees’ computers and laptops, but many of these devices still have years of use to go. So, instead of sending them off to the recycling depot, rather follow DriveRisk’s example in donating them to a worthy cause. Here’s how the country…