His article deals with the manner in which the number of days in which to lodge an objection are to be calculated as well as certain aspects of the rules governing objections and appeals. The Manner in which the Number of Days in which to Lodge an Objection are to be Calculated The rules regulating…
It was Shakespeare’s Julius Caesar who said: “If you have tears, prepare to shed them now”. While tears may be common in movies and on stage, it is rare to find them employed by legal counsel. In the course of a trial in the United States, where the jury system operates in serious cases, counsel…
Die groeisyfers vir 2007 mag nog indrukwekkend wees, met groei van oor die 5% relatief tot 2006. Daar was egter alreeds baie verlies aan BBP groeimomentum verlede jaar soos die verbruiker spoed verloor het, veral in duursame aankope as gevolg van die verhoogde rentekoerse en die nuwe nasionale kredietwet. Dinge het egter begin handuitruk soos…
Since the advent of democracy, the tourism sector has both benefited from and contributed to South Africa’s 33 quarters of uninterrupted economic expansion since September 1999 – the country’s longest economic upswing. Opening this past year’s Business Tourism Conference, Environmental Affairs and Tourism Minister Marthinus van Schalkwyk said “Our tourism industry, having overtaken gold as…
Don’t you just love the expression: “Curiosity killed the cat”? It is a phrase that we have heard so many times, especially as a child, trying to learn about things and maybe even trying to understand life a little better. As children we were told that curiosity killed the cat. What on earth does this…
What’s gone wrong? A short time ago, we laid my mentor, and spiritual father to rest. He was 85 years old and one of the founders of the auditing profession in South Africa. Just before his death we had a discussion on, amongst other things, the auditing profession and the changing world in which we…
Phase A of the Framework convergence project: Main changes and stakeholder comment summary Introduction The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have been working together on specific projects for some years now to update and harmonize some of their existing accounting standards. This is in order to underscore and…
Investment techniques The asset management industry, trading primarily in the public equity space, evaluates listed companies and estimates the future performance of such companies through proven methodologies and techniques. These are well known, such as the price/earnings (PE) ratio, headline earnings growth, EBIT and EBITDA margins and multiples, net asset value, quick and current ratios,…
Introduction The overall governance structure of an organisation, practicing good corporate governance, includes at least an internal audit function, a risk management function and a compliance function. In our opinion, the starting point for setting a corporate governance culture in an organisation is an overall Enterprise Risk Management (ERM) framework. Such a framework facilitates the…
FINANCIAL INSTRUMENTS WITH CHARACTERISTICS OF EQUITY A discussion paper on the distinction between equity financial instruments and other financial instruments (non-equity instruments) has been published for public comment by the International Accounting Standards Board (IASB). This has been issued in South Africa as ED236 – Financial Instruments with Characteristics of Equity and can be downloaded…