The Independent Regulatory Board for Auditors (IRBA) issued its Feedback Report on Audit Quality Indicators on 2 December 2019. This article gives an overview of the repor. The IRBA’s project to develop guidance on audit quality indicators (AQIs) is in line with the strategic objectives of the IRBA to be more proactive and assist in…
International Standard on Auditing (ISA) 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment (ISA 315 (Revised 2019)), was issued by the International Auditing and Assurance Standards Board (IAASB) in December 2019 and is effective for audits of financial statements for periods beginning on or after 15…
The Institute encourages perseverance for unsuccessful candidates and reminds them of a second opportunity. We would like to congratulate the 2 149 (of the 3 657) aspirant chartered accountants (CAs(SA)) who passed the Initial Test of Competence (ITC) in January 2020. Those candidates who were unsuccessful will have another opportunity later in the year to…
Some things can be done on a company-wide or management level, while other things can be implemented by individuals. If your team sees you embracing healthy habits in the workplace, it can be an immense encouragement to them to do the same and gain the benefits of a more energising work environment. Acknowledge the…
The outbreak of the global coronavirus pandemic has demanded an extraordinary response by governments around the world. The fight against the biggest health threat of our time requires of every parliament, organisation, company and individual to respond quickly to this challenge. It cannot be business as usual. The same applies to national audit offices. Not…
Jill Johnson, senior executive at SAICAEnterprise Development South Africa is moving towards cleaner energy with Cabinet’s latest approved 2019 Integrated Resource Plan (IRP). This IRP outlines wind power contribution to the future energy mix of 18%. South Africa has therefore seen the swift appearance of larger and smaller wind and solar farms in the past…
Albert Einstein famously said: ‘The world will not be destroyed by those who do evil, but by those who watch them without doing anything.’ So many of us point fingers at the rampant corruption in the public sector, while in the private sector we don’t think about ourselves and the wrongs we’ve normalised through policy…
Raymond Khotsofalang Mayekisa AGA(SA) is a keen businessman, model, stylist and MC, and a freelance broadcaster at Inkonjane Community Radio station popularly known as RK Mayekisa. But his favourite business venture remains to be a fun-filled flea market that is helping other businesses to flourish. Raymond Mayekisa was born and bred in Matatiele, Eastern Cape.…
As part of SAICA’s Leadership in a time of crisis webinar series, CA(SA) and CFO of Discovery Health, Brett Tromp, shared his thoughts on what good leaders can do in a time of crisis. In good times, a leader’s role is straightforward: keep your company afloat, your staff employed, and your customers satisfied. It’s during…
On 25 March 2020 the South African government announced a nationwide lockdown in which only those categorised as ‘essential’ are permitted to go to work. The rest, the ‘non-essentials’, were ordered to stay at home. 2020 … The year the world was divided into two distinct categories: essential and non-essential services. I, Wadzanai Mabuto, a…