A parable is a story often employed in biblical texts and is used to illustrate a moral lesson. One that struck me recently is about three talents, which I have adapted into a scenario below. Imagine a business owner who calls in three managers, all of whom are all at different levels. He presents the…
PwC South Africa has released its integrated report for 2016. It has been clear for some time that neither financial reporting nor sustainability reporting is sufficient on their own to describe the value created by an organisation. For these reasons, King IV advocates the concept of integrated thinking, of which an integrated report is the…
The South African tax system is based on a progressive system when taxing individuals. The Finance Minister announced a new tax bracket in the 2017 budget for taxing individuals that earn in excess of R1 500 000 per annum taxable income, taking the maximum marginal rate of tax up to 45%. This new tax bracket…
For as long as I can remember the Jeep brand has been synonymous with 4×4. In the early days the brand was built on a go-anywhere military vehicle. Fast forward to today, and even though the focus has changed from military to recreational, the go-anywhere philosophy has not changed. The Jeep Renegade is interesting as…
Project Siyakhula is a Deloitte-sponsored initiative that invests time to mentor and motivate students. It tutors Mathematics and Accounting to Grade 10, 11 and 12 learners from schools in Ivory Park. The word Siyakhula is derived from the isiZulu word meaning ‘we are growing’ and, boy oh boy, has it grown! Veryl Mulder interviewed three…
Chartered accountants’ daily job entails working with numbers and finances in its many forms, for example auditing and analysing financial records, financial reporting, taxation, and so much more. As financial professionals, we also offer financial advice to big corporate companies – however, we seldom get proper financial advice when it comes to our own personal…
Thomas Siakam CA(SA) is a senior consultant at a boutique advisory firm in Paris specialising in banking with a focus on risk and IFRS implementation Thomas Siakam had the opportunity to move to Paris a few months ago and he jumped at the opportunity. He is thoroughly enjoying the experience and on weekends you’ll find…
Gallup research indicates that the global rates of employee engagement are at an all-time low, and the findings once again point to managers, who account for up to 70% of the variance in engagement. It is no surprise that the common element in both employee engagement and retention is management ‘People leave managers, not companies’…
I bought my first annuity when I was 22. Few questions were asked; I was actually flattered that a big company contacted me to set up a portfolio with them. For the last two years, we haven’t had a financial broker, for several reasons: bad service, their inability to answer real questions, and our own…
On 20 April 2017, the International Auditing and Assurance Standards Board (IAASB) issued the Exposure Draft: Proposed ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures (ED), for comment until 1 August 2017. This is an overview of the proposed changes WHY IS THE ISA BEING REVISED? The main reasons provided by the IAASB in…